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I've already messaged you @Fred Some logistical questions for you: Q1. Just to be clear what are the out of pocket costs for the 1st year? It sounds like 7k euros for set up then 4k euro in maintenance fee for the business trade license. So 11k euros in year 1 then 4k each year thereafter...

I keep hearing this tripe but it's not Coinbase reporting you for BUYING crypto that triggers the tax authorities, it's the disposal or selling of crypto for fiat that does this. You could buy 1,000,000 dollars worth of BTC and never hear from the tax authority but selling less than 100 dollars...

i'm not an expert so you have to research this better before acting but I think the problem is that UAE is a CRS country and they would report your UAE banking information to Germany or whatever passport you opened the bank with. At that point your home country will send you a letter to your...

Anyone you know have experience using Thai banks?

20k before May 2020 is reasonable. 50k is possible too but less likely.

Due to possible war and protests happening already might be worth considering remote opening.

1.Register with paxos.com (company resides in nonCRS/USA country) 2.give them CRS passport 3.send $PAX from your walleyt/exchange to paxos.com account 4.trade $PAX for USD 5.open bank account in non-CRS country 6.Withdraw, get a credit card you can use overseas. winning?

I'm guessing you need a corporate account for transferwise to make this work?

How does CRS work here? Paxos is USA/ non-CRS. Transferwise is in UK, they are part of CRS.

I thought so. What if you withdraw USD from exchange? My guess is that it matters where the exchange is. Bittrex is in USA (non-CRS) so it would be good if you are not American. Also with CRS, my understanding is that they only report your fiat holdings on the last day of year or what you...

There would be records of your money going to Mt Gox. There would be blockchain data with time stamps to roughly show you moved BTC to your wallet. I'm sure this would be enough information. If not reverse the funds, buy BTC back from exchange and cash out at another bank in test amounts until...

Never considered that, thanks.

How do you send fiat from exchanges when you don't have local ID? Exchanges normally want you to prove your residence before they will send to your bank. What will happen if you give the exchange CRS passport, CRS driver's licence (let's say CRS country is South Korea) but then you ask them...

5:27 I thought you were kidding but it seems like banks in Georgia tightening against crypto gains. I thought the difficult part was going to be getting secondary ID to pull fiat off exchanges.

100k USD investment seems too expensive for me. For 50k more you get citizenship in St. kitts and Nevis and passport all within 90 days. I guess it all depends on what happens in the crypto market. A person that makes 3+ million won't care about dropping 150k for something that let's you have no...

Thanks for reply. There's really nobody talking about this (openly at the moment). I've been in crypto since 2017 and everybody's solution is just to move to country X where there is no crypto tax without taking into account of CRS/FACTA. I'm sure one of two big banks are ok with USD being...

Balance on 31st. Same as CRS. We are talking about fiat and I doubt anyone keeps they money on exchange for more than a day.

When it comes to fiat they might report depending on whether they are located in CRS or non-CRS country.

My understanding is that a foreigner that goes to Georgia and pull fiat into a bank is not technically a tax resident because he doesn't stay for 182 days but also isn't reported to his CRS country because Georgia is non-CRS, for the moment. It creates a situation where the foreigner is still a...

Move to Germany and cash out there after becoming a tax resident and pay zero.