From his/her words that's exactly what s/he did - Then you wait 12 months and cash out your cryptocurrencies, wait an additional 6 months, then deregister from Germany and report that you have moved to Brazil.
Crypto cashout in Germany, 0% tax,
- Thread starter CryptoTrader87
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why should that be an issue?
If a country asks for an asset declaration before you go there, you can simply do so. Tax returns are not the only documentation of value.
If a country asks for an asset declaration before you go there, you can simply do so. Tax returns are not the only documentation of value.
what other document would you think they would accept for instant in France ?
don't you believe that they in France will refuse that you have paid tax (0%) on your crypto just because you have lived there if you can't proof SOF and all tax paid from it?
don't you believe that they in France will refuse that you have paid tax (0%) on your crypto just because you have lived there if you can't proof SOF and all tax paid from it?
ask someone there. I just know to never go there for paying tax.
Crypto is easy to prove you have before due to blockchain timestamps, and you need to be sure to have been away from France somewhere else.
Crypto is easy to prove you have before due to blockchain timestamps, and you need to be sure to have been away from France somewhere else.
So you convert crypto to fiat while living in Germany. And then you don't really have to move to a country with asset declaration for wealth tax - most countries don't have this.
But if you still do, source of fund for your assets is usually not requested.
More of an issue is that banks sometimes require SOF, and here a tax declaration is one of multiple ways to show SOF. But I wonder if it doesn't show up in the German tax return even with 0% tax. The tax rate isn't the issue, just that you have paperwork for it.
Here is what I︀ would have done though. Skip Germany, just get out of the Romanian tax net, and︁ live in some fun country in Latam or Africa or Asia that doesn't care about︂ personal capital gains. Then convert all the altcoins to Bitcoin and keep the Bitcoin, it's︃ better money than fiat anyway.
But if you need some fiat for spending, convert in︄ small batches via crypto friendly EMIs like Xapo, Zen, Verifo, Yoursafe etc, and/or via exchanges︅ that also offer bank cards/IBAN's like Swissquote, Nexo, Swissborg and others, and/or p2p within the︆ Bitcoin community.
But if you still do, source of fund for your assets is usually not requested.
More of an issue is that banks sometimes require SOF, and here a tax declaration is one of multiple ways to show SOF. But I wonder if it doesn't show up in the German tax return even with 0% tax. The tax rate isn't the issue, just that you have paperwork for it.
Here is what I︀ would have done though. Skip Germany, just get out of the Romanian tax net, and︁ live in some fun country in Latam or Africa or Asia that doesn't care about︂ personal capital gains. Then convert all the altcoins to Bitcoin and keep the Bitcoin, it's︃ better money than fiat anyway.
But if you need some fiat for spending, convert in︄ small batches via crypto friendly EMIs like Xapo, Zen, Verifo, Yoursafe etc, and/or via exchanges︅ that also offer bank cards/IBAN's like Swissquote, Nexo, Swissborg and others, and/or p2p within the︆ Bitcoin community.
As mentioned, tax returns are just one alternative for SOF. If your home country got a tax treaty with the other country, just showing the tax residence certificate for that year should be enough. But it is true that some countries might ask for the tax return. However, you can file︀ for taxes in Georgia if you want to, there will be no tax to be︁ paid anyways. This option just gives you a bit more of privacy and less risk︂ of your home country getting notified
Technically anything that serves as solid proof. Even you business partners may serve as testimony in case it goes to court. I would recommend you to document it today as good as you can. Screenshots from Mt. Gox etc. are good. Blockchain proofs from Blockchain analysts etc. anything unambiguous is good.
Please also read this one
https://rechtsanwalt-kryptowaehrungen.de/haltedauer-nachweis/
It is in German, you can practise your language already.
Please also read this one
https://rechtsanwalt-kryptowaehrungen.de/haltedauer-nachweis/
It is in German, you can practise your language already.
It should technically work. The reason being that in there is no step-up in basis at the time of moving to Germany. I.e. the taxable amount is not the difference between moving there and selling but between buying and selling.
But you have to be careful with the rules of the country you are coming from and make sure to stay compliant there.
But you have to be careful with the rules of the country you are coming from and make sure to stay compliant there.
There are so many countries like this. Singapore, New Zealand, Hong Kong, Georgia, Switzerland, Belgium, etc.
I have not cashed out my crypto yet and still thinking about Germany. There are some things that I do not like here. Like I can only register a lease but not get a real 'proof of address' for tax purposes like in other countries. Tax legislation is also much weaker than in other countries, especially when it comes to international taxation. No clear rules on what is habitual abode or permanent home etc while Germany clearly states that.
I have talked with lawyers in my home country that says that I do not need all this stuff. Some countries do not even have a︀ registry of where people live, I think Australia is one of them. However, it makes︁ me much more uncomfortable that I have to rely on a lease written between 2︂ people. Bank statement adds to it, but even the tax residency certificate you get in︃ Georgia doesn't mention what basis you got it on nor that it is in accordance︄ with a specific tax treaty of country X. The really wealthy that want to sleep︅ good at night are not in this country
I have talked with lawyers in my home country that says that I do not need all this stuff. Some countries do not even have a︀ registry of where people live, I think Australia is one of them. However, it makes︁ me much more uncomfortable that I have to rely on a lease written between 2︂ people. Bank statement adds to it, but even the tax residency certificate you get in︃ Georgia doesn't mention what basis you got it on nor that it is in accordance︄ with a specific tax treaty of country X. The really wealthy that want to sleep︅ good at night are not in this country
The certificate︆ are useless in any case as the other country will challenge them once that is︇ enough money on the table. What you need is called flying under the radar. No︈ country where you just moved in and are about to move in one year it︉ out will cards to tax your coins, especially if you deposit the money into a︊ Turkish bank account on a Turkish tax id.
Yes, that's why I would go with HSBC. You have premier with around 30k USD. Maybe QNB is safe too?
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