Switzerland is the same. Just draw a cross over that small area of the world known as the EUSSR and its satellites:
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Please help a nomad
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Make double sure that you understand the statement "after holding for a ...(year or whatever)" . That means: clear trace of coin history, ie how they appeared in your wallet (trace of purchase), giving up your api key / history of that place of purchase, **no** transactions in that wallet for that grace period.
the simplest solution would be Malta.
They have a non-dom tax program for foreigners who move there. If you are an EU citizen you would have to pay only a fixed amount of 5000 euros per year and all of your foreign sourced income (meaning outside of malta) would be tax free as long as you don't bring that income into malta. But your capital gains from crypto (and from stocks, ETFs) will be tax free even if you bring all of it into malta because they are not categorized as income. If you are non-eu citizen it would cost you 15000 euros.
so for a one time payment of 5000 euros in taxes you could legally cash out all of your crypto gains.
They have a non-dom tax program for foreigners who move there. If you are an EU citizen you would have to pay only a fixed amount of 5000 euros per year and all of your foreign sourced income (meaning outside of malta) would be tax free as long as you don't bring that income into malta. But your capital gains from crypto (and from stocks, ETFs) will be tax free even if you bring all of it into malta because they are not categorized as income. If you are non-eu citizen it would cost you 15000 euros.
so for a one time payment of 5000 euros in taxes you could legally cash out all of your crypto gains.
Foreign income means also not generated through activities in malta (e.g working in malta )
Just because OP sells his crypto while living in malta does not make it locally sourced income. If OP would daytrade crypto while living in malta then I agree thats locally sourced income and taxable.
OP probably still could invest in crypto while living in malta if he only makes a few trades a year and it would be tax free.
You asked for it lol.......Nigeria has 10% CGT on crypto. They have Sharia law in the North of the country so that's as non-western as it gets smi(&%
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Please note my posts should not be taken as financial or tax advice. Please seek professional advice in that respect.
Just the answer I was looking for. Thank you very much for this information.
I think it's quite easy to become a Maltese tax resident.
I didn't mention crypto , i just posted it for clarification . Because you said "foreign sourced income (meaning outside of malta)" .So he could maybe think that if he gets income from foreign companies while working in malta that he's exempt of taxes .
check the XAPOBank card too which also works very well depending where you're considered resident
You should use the search on the forum for Switzerland if you are interested, so for other countries, if they are not giving you sufficient hits you can enter the following in Google and it will spit out tons of hits, we have almost all covered on OCT.
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Why do you say unfortunately? Can't you work? If you plan to live solely off your savings or shall we say, your wealth - then it's tax-free in Malta. I'm not sure about dividends and interest income and how they're taxed, but I know there are many threads on the same topic for Malta.
GEORGIA! Is a good option.
Crypto friendly and tax free
Non red tape setup, if ur super wealthy 500k in a Georgian bank or exchange (can withdraw after) will give you hnwi status and you don't have to stay 183 days for the trc cert.
Nice forest, hiking, good seasons type of place. Closer to Asia if you like it there.
Crypto friendly and tax free
Non red tape setup, if ur super wealthy 500k in a Georgian bank or exchange (can withdraw after) will give you hnwi status and you don't have to stay 183 days for the trc cert.
Nice forest, hiking, good seasons type of place. Closer to Asia if you like it there.
I need 1 or 2 years free, private s**t... But I know I'll have to go back to work. It's essential, I can't stay idle even if I have enough to live on.
Good to know about Malta ! I've looked into it in the meantime and it seems a very good solution for my situation.
Malta is part of the EU, which is a pity, but it makes it easier for me to get here without any real external formalities.
Really, for 500k ?
Do you have some ressources about it ?
I will double check from my side too. I discovered that if I invest at least 300,000 GEL (about 100,000 euros) in real estate in Georgia, it will make it much easier to become a tax resident.
Georgia speak English ? Can I live here by speaking english only ?
Georgia is good for many things but has few things to consider:
- Low quality of real estate
- Political protests are left and right, EUSSR constantly stirring the pot
- Dirty smelly car exhaust air in Tbilisi (capital)
- Poor knowledge of English (last time checked 3 years ago), especially important when you need medical attention. They'll just try to get rid of you asap if they dont understand what you're asking.
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