Setup for Crypto and Stock trading

[FlipnShip]

I appreciate you reply mAzzy. I have been⁠ reading up on it (ofc no proper legal advise) and a lot of sources state⁤ that ETFs are tax free.

"According to Andorran legislation, the exemption applies to capital gains⁣ and losses obtained as a result of transfer and redemption operations of shares and participations⁢ of collective investment organizations and legal entities, as long as less than 25% is owned︀ (or more than 25% if have been owned for more than 10 years). Therefore it︁ would also apply in that case."

It would certainly be an option holding crypto and︂ commodity investments via ETFs tax free.

Since there is so little information about Andorra out︃ there, may I ask you how Andorra has been handling the pandemic in terms of︄ lockdowns and if they are also enforcing some type of vaccine passport?

 

[Mda]

Allright, I'm only trading derivatives and spot at 10% so I was not sure.

About the pandemic, you should find some accurate overlook at this page
https://www.livinginandorra.com/covid-current-situation.html

 

[miniflowtrader]

Is there anyone here (who is a US resident) that has been able to successfully‌ open an Institutional Account with FTX or Binance using an offshore company in Cayman or‍ BVI?

Will a US Bank allow you to open a business account for an offshore⁠ company?

Do FTX or Binance require a banking statement?

 

[Dom pedro]

Hello guys. It's been awhile‌ since I las posted here. Since then I've been working full time in the crypto‍ space. And to avoid taxation what I decided to do for now is simply to⁠ not be a resident of my country anymore. I am not a residency of any⁤ country, and therefore not taxable anywhere. The limitations for that approach is that I can't⁣ stay more than 6 months in my country, and also because I have no residency⁢ anywhere else, I still need to declare myself as a brazilian resident for signing up︀ at brokers, banks and crypto exchanges.
I am now considering either getting a residency in︁ a 0 tax country like Paraguay or Uruguay, or getting an offshore, just for that︂ extra layer of protection. But during my talks with my lawyer, there is a good︃ chance that I will be fine, specially if I remove all my money from here,︄ and thus become less attractive for the local IRS.

 

[icecold]

OP may have left the boat. Anyway, Most investment firms are located in London, Zug‌ and Paris for some reason.

 

[MarkusM]

You said the rules are the same, but⁠ if you are trading with a personal account as a foreigner ,you won-t pay 30%⁤ , you will pay according to the DTA.