Please help a nomad

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CrossedOut

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Oct 7, 2024
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Hello,
I'm calling on your knowledge today. Here is my situation;
I would like to find a place where I can expatriate in order to pay as little tax as possible on crypto capital gains.
It's not the tax itself that bothers me, I'm willing to pay 10% for a country that's worth it. In other words, I'm willing to pay taxes (not very high ones either) but for a country with modern non-Western values (that could be secondary tho)
I'm European and neither the climate nor the distances scare me.
I don't have any businesses, I'm just a nomad with substantial capital gains. Withdrawing capital gains where I am is too high / the country isn't worth it at the moment.
I've heard of Portugal, Andorra, Switzerland, UAE, Slovenia... But I'm calling on you to perhaps get some feedback, and what would be the best solution for a nomadic person, with no professional activity and plus crypto values.
I've also heard that the easiest thing in my case was to find a country that would accept a simple investment in exchange for a visa (or tax residence).
Thank you in advance for your help.

I should point out that I'm not as knowledgeable as most of the people here ! Please bear with me hi%#
 
Welcome here!
CrossedOut said:
CrossedOut said:
for a country with modern non-Western values (that could be secondary tho)
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Could you, please, elaborate more on that? What do you mean by “modern non-Western values”? It's crucial for your case, I guess.


CrossedOut said:
CrossedOut said:
I should point out that I'm not as knowledgeable as most of the people here ! Please bear with me hi%#
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OK 🙂

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I am just a simple countryman. Anything I say is only a personal opinion, not a certified advice 🙂

If you think it makes sense, you can like it; if opposite, please, tell me, why I am wrong...
 
Hello,
There is not a simple and cookie cutter answer. What you want to do is feasible, and requires some planning.
For example, if you choose Africa or the Caribbean it would be simpler than Russia or Thailand, but personal tastes and future plans come into play.

Please note that I don't offer services in this sphere (maybe one day I will do so for a selected few persons as part of my life coaching program), so don't ask me for paid advice. I am happy to share what I know here though.

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Forester said:
Forester said:
Welcome here!

Could you, please, elaborate more on that? What do you mean by “modern non-Western values”? It's crucial for your case, I guess.



OK 🙂
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It's not so important after all, at least it can take a back seat.
It's just that, ideally, I wouldn't like to find myself in a country promoting this movement called “wokism” lol.

And thank you ! smi(&%
 
JohnnyDoe said:
JohnnyDoe said:
Hello,
There is not a simple and cookie cutter answer. What you want to do is feasible, and requires some planning.
For example, if you choose Africa or the Caribbean it would be simpler than Russia or Thailand, but personal tastes and future plans come into play.

Please note that I don't offer services in this sphere (maybe one day I will do so for a selected few persons as part of my life coaching program), so don't ask me for paid advice. I am happy to share what I know here though.
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I don't care much about the country of destination. It's true that I prefer landscapes with mountains, hills and water. But then again, that's not so important, as my priority would be to withdraw my capital gains without being broken in half by high taxes.
 
CrossedOut said:
CrossedOut said:
What do you mean by that ?
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You can spend your crypto when you need it and as much as you need without having to sell for fiat.
CrossedOut said:
CrossedOut said:
I can cashout small portion by small portion too.
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You are not “cashing out”. You are giving away precious currency in exchange for a worthless one.
CrossedOut said:
CrossedOut said:
I saw about this great topic, and I learned a lot.
But I don't know if it's a very good idea to go to Russia without knowing Russian, even if they let you in now.
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Language is not a problem in big cities. But you are supposed to upgrade your temporary permit into a permanent one within 3 years if you follow my same route, which requires basic knowledge of the language and of the history of Russia.
If you really live there full time you should learn Russian quite well in 3 years, as long as you don't isolate yourself.

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JohnnyDoe said:
JohnnyDoe said:
You can spend your crypto when you need it and as much as you need without having to sell for fiat.

You are not “cashing out”. You are giving away precious currency in exchange for a worthless one.

Language is not a problem in big cities. But you are supposed to upgrade your temporary permit into a permanent one within 3 years if you follow my same route, which requires basic knowledge of the language and of the history of Russia.
If you really live there full time you should learn Russian quite well in 3 years, as long as you don't isolate yourself.
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You're going to have to enlighten me on this point, because I thought I had to go through fiat if I wanted anything in the “real” world.
I know that there are platforms that allow you to do Crypto > [Insert sites] but it's not very crazy and there are often a lot of fees.
I can P2P too.
 
CrossedOut said:
CrossedOut said:
You're going to have to enlighten me on this point, because I thought I had to go through fiat if I wanted anything in the “real” world.
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You can use credit cards funded in crypto like Wirex, or pay directly in crypto. It has been discussed in other threads, @jafo is a master at this and can give you many real life examples.
CrossedOut said:
CrossedOut said:
I know that there are platforms that allow you to do Crypto > [Insert sites] but it's not very crazy and there are often a lot of fees.
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Whatever fee and inconvenience you face will always be better than having fiat frozen/confiscated.
CrossedOut said:
CrossedOut said:
I can P2P too.
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That's another good solution for obtaining everyday cash. (the real paper thing)

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CrossedOut said:
CrossedOut said:
You're going to have to enlighten me on this point, because I thought I had to go through fiat if I wanted anything in the “real” world.
I know that there are platforms that allow you to do Crypto > [Insert sites] but it's not very crazy and there are often a lot of fees.
I can P2P too.
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Russia is full of OTC desks , so there will be no problem converting your crypto to cash .
JohnnyDoe said:
JohnnyDoe said:
You can use credit cards funded in crypto like Wirex, or pay directly in crypto. It has been discussed in other threads, @jafo is a master at this and can give you many real life examples.
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Problem is Visa/Mastercard is not accepted/working because of sanctions . You would need a crypto card with mir , it's just much easier to get youmoney and sberbank etc.. And top it up via an exchange .
 
IF your only matter is capital gain from crypto, then for Europe you can see with Portugal. Tax-free after 1year holding.

This is working, until now at least, regardless you are/were under NHR tax scheme or not.

But you also have to look with your current citizenship / actual tax residency if any exit tax can apply or not.

Otherwise UAE, countries with territorial tax or without tax on capital gains.
 
We have some strong advocates for crypto, especially BTC, here on the forum, and the attitude and message are always the same: keep your crypto and forget about traditional money. It's a fine approach, but it doesn't suit everyone or every situation.

That being said, I would recommend doing a lot more research than you have so far, based on what I can gather from your question. For example, check out the article below, which is excellent and might inspire you with more ideas and help you narrow down your options.

I don't have a concrete suggestion, but it's obvious that Russia and BTC are not the only solutions available on this planet right now.

[IMG alt="Kim-OTC"]http://localhost/data/avatars/s/34/34176.jpg?1727588608[/IMG]

Thread 'Quick Checklist Solutions for Digital Nomad Visas in Different Countries'​

Sep 28, 2024
In today's digital society, being a digital nomad is no longer a trend but a lifestyle that more and more people embrace. There are countless digital nomad jobs out there, allowing people to work from anywhere in the world.

But then, what is a digital nomad? What do you need to know about the digital nomad visa? Let's explore the most popular countries for digital nomads, as well as the requirements and steps to get a visa without too much headache.

Digital Nomad Checklist 2024 - Tips, Checklists and Top Destinations​

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​

Portugal​

The...
  • Kim-OTC
  • digital digital nomad digital nomad jobs digital nomad visa groupe digital nomad italy digital nomad visa japan digital nomad visa long term digital nomad visa allow parents nomad visa spain portugal digital nomad visa spain digital nomad visa what is a digital nomad
  • Replies: 7
  • Forum: Global Citizen & Expats
 
JohnnyDoe said:
JohnnyDoe said:
You can use credit cards funded in crypto like Wirex, or pay directly in crypto. It has been discussed in other threads, @jafo is a master at this and can give you many real life examples.

Whatever fee and inconvenience you face will always be better than having fiat frozen/confiscated.

That's another good solution for obtaining everyday cash. (the real paper thing)
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Just checked about Wirex. Didn't know about it but Nexo. Is it the same sort of app / bank ? Wirex seems way more close to Crypto. I will probably try it out.
 
aniglo22 said:
aniglo22 said:
Russia is full of OTC desks , so there will be no problem converting your crypto to cash .

Problem is Visa/Mastercard is not accepted/working because of sanctions . You would need a crypto card with mir , it's just much easier to get youmoney and sberbank etc.. And top it up via an exchange .
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Sorry but what is "mir" sir ?
 
toums said:
toums said:
IF your only matter is capital gain from crypto, then for Europe you can see with Portugal. Tax-free after 1year holding.

This is working, until now at least, regardless you are/were under NHR tax scheme or not.

But you also have to look with your current citizenship / actual tax residency if any exit tax can apply or not.

Otherwise UAE, countries with territorial tax or without tax on capital gains.
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Indeed, Portugal appeals to me a lot overall. It seems one of the best option for me.
NR tax scheme is simple.

I saw that ;
For crypto-assets held for less than one year: 28% flat-rate tax on capital gains
For crypto-assets held for more than one year: Exemption from capital gains tax
 
CrossedOut said:
CrossedOut said:
Indeed, Portugal appeals to me a lot overall. It seems one of the best option for me.
NR tax scheme is simple.

I saw that ;
For crypto-assets held for less than one year: 28% flat-rate tax on capital gains
For crypto-assets held for more than one year: Exemption from capital gains tax
Click to expand...
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Avoid the EU please. Don't be fooled by their tricks.

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