Is there any tax free countries for professional crypto traders and investors?
- Thread starter shoringtrader
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Not bulletproof!
Look into standard PE-rules and you know why.
There are enough countries where you do not need to run afoul with the law. So why bother about Thailand, which we already discussed numerous times ...
Look into standard PE-rules and you know why.
There are enough countries where you do not need to run afoul with the law. So why bother about Thailand, which we already discussed numerous times ...
man, what say. I lived there for 6 years and nobody asked for anything like never.
Can it happen in the future? yeah maybe but it's not happening now so why bother worrying about it.
There's no perfect solution in the offshore industry anymore, we've to play with whats available.
Can it happen in the future? yeah maybe but it's not happening now so why bother worrying about it.
There's no perfect solution in the offshore industry anymore, we've to play with whats available.
For this you have to study the tax code of each specific country.
Many countries with territorial taxation distinguish between business activity and private income. If you are an active trader it is highly likely that your foreign sourced income will be considered "business activity" and taxes accordingly.
Many countries with territorial taxation distinguish between business activity and private income. If you are an active trader it is highly likely that your foreign sourced income will be considered "business activity" and taxes accordingly.
It's a grey area still, but from what I've heard nobody faced that issue yet. What you can also do is create an offshore on top of being a resident there, and making your trades in the name of that company. This basically guarantees 100% that your profits have foreign origin. Another alternative to get more protection is getting a permanent residency in Paraguay but living there less than 6 months a year. This way you are a︀ resident there, but not a fiscal resident and not liable to do any tax form.︁ They wouldn't even know what you have or not.
Will it be considered business activity if somebody else is managing or trading it for me.
Have you done︅ this living less than 6 months stuff and got away with it?
Have you done︅ this living less than 6 months stuff and got away with it?
Wrong!
What you suggest guarantees a myriad of problems.
Keywords: UBO, Permanent Establishment, CFC, DTA, majority owned ....
Note: Things that were common in 1985 lead to disaster in 2022.
He then faces the problem to︂ either be a tax resident nowhere or in another country. On top of it the︃ country where he has the closest ties to can claim that he is a tax︄ resident there despite the fact that he is present for less than 183 days.
Yes, because the business is majority owned by you and︆ you are the UBO.
Moreover, look into Permanent Establishment rules to get a better understanding︇ of the issue.
What you suggest guarantees a myriad of problems.
Keywords: UBO, Permanent Establishment, CFC, DTA, majority owned ....
Note: Things that were common in 1985 lead to disaster in 2022.
He then faces the problem to︂ either be a tax resident nowhere or in another country. On top of it the︃ country where he has the closest ties to can claim that he is a tax︄ resident there despite the fact that he is present for less than 183 days.
Yes, because the business is majority owned by you and︆ you are the UBO.
Moreover, look into Permanent Establishment rules to get a better understanding︇ of the issue.
Why don't you move to the Bahamas, tax free and the Sun is shining.
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Oh, forgot, @Martin Everson and is chess is there.
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Oh, forgot, @Martin Everson and is chess is there.
Sure, plenty of people do that. Not everyone wants to buy a $750k home but still they like to reside in the BS or just be able to come and enjoy the place whenever they want without limitation.
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ok so we can enjoy 0% tax with just this small expenditure and taking up a rental here. Will they provide some type of id that can be used similarly like a PR card. Mine will be trading through a company. Seychelles ibc to be precise.
I am researching right now actually which will suit better for trading between Bahamas,UAE and Cyprus. And trying to find the best combination.
So far Bahamas seems pretty good as per Johnny.And i respect him very much.
So far Bahamas seems pretty good as per Johnny.And i respect him very much.
me too ki#¤%
If you are not bound to where you live and just can pick a country I would choose the Bahamas.
If you are not bound to where you live and just can pick a country I would choose the Bahamas.
https://www.immigration.gov.bs/applying-to-stay/permit-to-reside/I don't know about renting, I only heard from people whose properties are below the $750k threshold.
remember that the Bahamas is not just New Providence/Nassau. There's something for every taste across the archipelago (even though real estate inventory is shrinking).
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