How to Avoid CRS - 3 Options as of 2019 - 2025
- Thread starter Tax Cow
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CRS is about the address you give. You can’t tell a bank “I live in a tent somewhere, I have no fixed address.”
You need to give them an address, and that’s where the data will be reported, if that country has implemented CRS.
Sure, you can give them an address in Somalia, but that has nothing to do with being a nomad. So you can’t avoid CRS simply by being a nomad. Probably CRS won’t have negative consequences for you,︀ correct, but then you’re still not avoiding CRS, just avoiding the consequences of CRS.
You need to give them an address, and that’s where the data will be reported, if that country has implemented CRS.
Sure, you can give them an address in Somalia, but that has nothing to do with being a nomad. So you can’t avoid CRS simply by being a nomad. Probably CRS won’t have negative consequences for you,︀ correct, but then you’re still not avoiding CRS, just avoiding the consequences of CRS.
isnt that eu loving shithole starting to report in 2023 and which covers data from 2022?.
Not that it would affect me, but just stating what I have read.
Not that it would affect me, but just stating what I have read.
Global Forum on Transparency and Exchange of Information for Tax Purposes
An interesting take.
Georgia is part of the 43 nations which have not been blackmailed by the borg to do this but they have chosen to do it voluntarily. That tells me all I have to know about them.
Thanks to covid I could not invest there which I otherwise would have done.
An interesting take.
Georgia is part of the 43 nations which have not been blackmailed by the borg to do this but they have chosen to do it voluntarily. That tells me all I have to know about them.
Thanks to covid I could not invest there which I otherwise would have done.
As already mentioned UAE is the simplest way. It don't require much time and as time is money I even think it's the cheapest way.
Just setup your company in UAE get your residence VISA and open a local company bank account. For that you even don't need a utility bill. Just mention hotel were you stay during your trip.
As the account is opened with the residence Visa - no CRS reporting at all. Just stay in the country you are and once your business is big enough or you have saved enough money inside the company - move for 2-3 years to UAE︀ to legitimate the funds.
Especially in 2021 the best solution for high tax EU country︁ passport holders to have there feet between the door should it come that bad inside︂ EU as forum users like @Martin Everson believe.
Just setup your company in UAE get your residence VISA and open a local company bank account. For that you even don't need a utility bill. Just mention hotel were you stay during your trip.
As the account is opened with the residence Visa - no CRS reporting at all. Just stay in the country you are and once your business is big enough or you have saved enough money inside the company - move for 2-3 years to UAE︀ to legitimate the funds.
Especially in 2021 the best solution for high tax EU country︁ passport holders to have there feet between the door should it come that bad inside︂ EU as forum users like @Martin Everson believe.
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