Imo, it does not depend on the country but on whether the service you are using can help you liquidate that amount of money. In the p2p crypto field that I know of, there are even individuals trading tens of millions $ is easy, but that doesn't mean it's without risks. As long as it's a partner you trust to trade with to help you liquidate crypto in the most convenient way, I've traveled to many countries in Asia, and interestingly, through some relationships, I can easily pay crypto for local fiat.
But I also agree that countries with leading economies have a more positive view of crypto, as most can accept transactions and have bank cooperation with a number of major services for convenience.
Topic: Best country to cash out few mil of USD crypto? - page 3. (Read 649 times)
My country is not a cryptocurrency-friendly place, but citizens here usually cash out their coins more easily through P2P trade, and it has always been going very smoothly. For other countries that are not cryptocurrency-friendly, they could still use the p2p format on the exchange that is allowed in their country. Binance, Huabo, and MEXC have a p2p feature, and they can be used by anyone as long as the exchange is allowed in that country.
Best alternative ways cash out cryptocurrency assets trough P2P transaction but seems OP want to cash out trough Bank and country with less taxes fees, actually in my country have lower fees taxes of cryptocurrency transaction but I don't think have policy for foreigner allowed withdraw their cryptocurrency with my local exchange market. Friendly for OP looking for country with legal tender payment using cryptocurrency and cash out his fund there with less taxes fees. Seems for P2P transaction we make its trough our local community and there are selling or buying fund with other user come from the same country. Huge amount with P2P transaction will face difficult and cash out trough Bank I think best way looking for by OP. 
Just go to the countries that are crypto friendly and you'll have no problem about it if you're scared of the policies.
El Salvador and Central African Republic made it as a legal tender but my choice might be El Salvador. Luckily, I am in a country where things are fine and not making crypto on a hot topic.
Wait, this is a few mil like $500k? I'd avoid doing that in a single withdrawal.
El Salvador and Central African Republic made it as a legal tender but my choice might be El Salvador. Luckily, I am in a country where things are fine and not making crypto on a hot topic.
Wait, this is a few mil like $500k? I'd avoid doing that in a single withdrawal.
I think you will not find an answer because you need to know someone that live in the country and very well know the system, tax, laws etc, not just relying on article or what you found on google. So, you need to break down to few countries that you think can meet your criteria and then you need to pay some fees to obtain the information from the local citizen.
Best country to cash out less questions asked ?
It's UK. ? Specially London where everything is easy ?
Many people Even drive there without dl license it's quite relax place i heard that USA not easy place to cash out.
Can the Dubai or spain can better? I mean less taxes Also so i Open company and transfer crypto from exchangers
I don't think the best country to cash out 1 Million without getting asked is UK or the USA, especially the driving license statement seems a little fake because driving licenses are checked and drivers have to follow all driving signs otherwise big penalties are imposed on them. Many locals of my country have showed their views about how expensive those tickets are to pay. They say one ticket eats up enough money that is equal to one month's expenses of one guy back in Pakistan. It's UK. ? Specially London where everything is easy ?
Many people Even drive there without dl license it's quite relax place i heard that USA not easy place to cash out.
Can the Dubai or spain can better? I mean less taxes Also so i Open company and transfer crypto from exchangers
Which is around 100 pounds. Things are not cheap in both countries. And therefore I don't think they will ask you about cashing out 1 million of us dollars from crypto because for bigger countries have bigger banks and they can easily handle a few million dollars.
Now there remains only one question that, and the solution to that is the country should be crypto friendly otherwise they might block your bank accounts.
El Salvador is indeed a haven for Bitcoin users to conduct any transactions, including withdrawing large amounts. There's no tax, even if you're a foreign investor residing in El Salvador. Nayib Bukele has truly turned El Salvador into a haven for Bitcoin users. Although I haven't personally visited there, several news reports on the legal adoption of Bitcoin in El Salvador confirm all of this.
As long as the crypto comes from money that doesn't violate the law, you are safe to withdraw. However, it can turn into a significant problem if the money you withdraw is proven to be from an illegal source.
As long as the crypto comes from money that doesn't violate the law, you are safe to withdraw. However, it can turn into a significant problem if the money you withdraw is proven to be from an illegal source.
I agree with the legality concerns of money. It matters a lot. If the amount is in millions then one can not assume they would just go to the center, and get their millions cashed out just like that. If you check out any banking system then the source of funding is always reported to central authorities against the SSN or whatever is the KYC document that is linked to the user's identity. This tells the Income Tax department whether to take any action against that transaction or if they see enough documentation for the same then they wouldn't even doubt us. I think El Salvador is the best shot for such heavy transactions.
If it is all about traveling then it's better to do the job in your hometown. You wouldn't be asked more questions in your local region rather than flying to another country and getting bombarded with a lot of questions. If your country accepts bitcoin but it is taxed, then it is even better. Just pay the taxes and live a happy life.
Best country to cash out less questions asked ?
It's UK. ? Specially London where everything is easy ?
Many people Even drive there without dl license it's quite relax place i heard that USA not easy place to cash out.
Can the Dubai or spain can better? I mean less taxes Also so i Open company and transfer crypto from exchangers
If you are going to withdraw that much money I am sorry to say to you that there is not really a country that will fit your criteria, as if you do not have a history of managing those amounts of money, it is perfectly normal for a bank to ask you where you got that money, after all even if that is your money your are using the services of the bank and if you are doing something wrong then they are going to be implicated.It's UK. ? Specially London where everything is easy ?
Many people Even drive there without dl license it's quite relax place i heard that USA not easy place to cash out.
Can the Dubai or spain can better? I mean less taxes Also so i Open company and transfer crypto from exchangers
So just accept that you will have to give explanations over that money and pay your taxes as well.
legendary
Activity: 2422
Merit: 1083
Leading Crypto Sports Betting & Casino Platform
Come to Nigeria and cash out your millions of dollars in crypto without questions ask, but then, you may likely not want to cash out every thing at once to avoid being invited by the bank to state what you do for a living, this is probably nothing, but just to be on the safe side, it's better to avoid anything that will warrant you having to face the banks to answer some silly questions.
And I think as an international investor you are or will be, that's another good advantage, authorities in Nigeria seems to respect international investors much more than their own citizens, an international investor may cash out millions here in nigeria and the authorities will say nothing, or do nothing about it, probably because they assume that as an international person that you are, you must have business in your country paying you good amount, but for a Nigerian citizen, authorities will or may invite you and will want to know how you came about such amount of money (if it's really big).
And I think as an international investor you are or will be, that's another good advantage, authorities in Nigeria seems to respect international investors much more than their own citizens, an international investor may cash out millions here in nigeria and the authorities will say nothing, or do nothing about it, probably because they assume that as an international person that you are, you must have business in your country paying you good amount, but for a Nigerian citizen, authorities will or may invite you and will want to know how you came about such amount of money (if it's really big).
What about safety? If a foreigner arrives to Nigeria and cashes out decent amount what are his chances of staying alive (if he won't bring his own private army with him)? Then, you mentioned that banks may start asking questions if you start to cash out big amounts. So it means you will be forced to keep your funds in your account in a local bank? How safe is that? Are bank accounts secured/guaranteed by the state?
What I will tell you is that, apart from economic problems and insecurity in some areas caused by economic hardship, Nigeria is still one of the safest country to live in, all you just gotta do is live a low key life, since yoh have the money, find a luxury and very quiet estate and live there like you dont exist, and you will be good, most rich men in Nigeria don't make noise
. And to your second question, I think you are misunderstanding what I meant, by cashing out, I do not mean to withdraw all your money from the bank, I meant to withdraw money from crypto into your bank account.
And who said the banks will force a customer to keep his or her funds in their local bank account? I never said such, if you withdraw let's say, hundreds of millions of naira into your local bank account, and the bank said or did nothing, you are free to withdraw your money from the bank anytime and do with it what ever pleases you.
Come to Nigeria and cash out your millions of dollars in crypto without questions ask, but then, you may likely not want to cash out every thing at once to avoid being invited by the bank to state what you do for a living, this is probably nothing, but just to be on the safe side, it's better to avoid anything that will warrant you having to face the banks to answer some silly questions.
And I think as an international investor you are or will be, that's another good advantage, authorities in Nigeria seems to respect international investors much more than their own citizens, an international investor may cash out millions here in nigeria and the authorities will say nothing, or do nothing about it, probably because they assume that as an international person that you are, you must have business in your country paying you good amount, but for a Nigerian citizen, authorities will or may invite you and will want to know how you came about such amount of money (if it's really big).
And I think as an international investor you are or will be, that's another good advantage, authorities in Nigeria seems to respect international investors much more than their own citizens, an international investor may cash out millions here in nigeria and the authorities will say nothing, or do nothing about it, probably because they assume that as an international person that you are, you must have business in your country paying you good amount, but for a Nigerian citizen, authorities will or may invite you and will want to know how you came about such amount of money (if it's really big).
What about safety? If a foreigner arrives to Nigeria and cashes out decent amount what are his chances of staying alive (if he won't bring his own private army with him)? Then, you mentioned that banks may start asking questions if you start to cash out big amounts. So it means you will be forced to keep your funds in your account in a local bank? How safe is that? Are bank accounts secured/guaranteed by the state?
hero member
Activity: 770
Merit: 538
Leading Crypto Sports Betting & Casino Platform
My country is not a cryptocurrency-friendly place, but citizens here usually cash out their coins more easily through P2P trade, and it has always been going very smoothly. For other countries that are not cryptocurrency-friendly, they could still use the p2p format on the exchange that is allowed in their country. Binance, Huabo, and MEXC have a p2p feature, and they can be used by anyone as long as the exchange is allowed in that country.
legendary
Activity: 2422
Merit: 1083
Leading Crypto Sports Betting & Casino Platform
Come to Nigeria and cash out your millions of dollars in crypto without questions ask, but then, you may likely not want to cash out every thing at once to avoid being invited by the bank to state what you do for a living, this is probably nothing, but just to be on the safe side, it's better to avoid anything that will warrant you having to face the banks to answer some silly questions.
And I think as an international investor you are or will be, that's another good advantage, authorities in Nigeria seems to respect international investors much more than their own citizens, an international investor may cash out millions here in nigeria and the authorities will say nothing, or do nothing about it, probably because they assume that as an international person that you are, you must have business in your country paying you good amount, but for a Nigerian citizen, authorities will or may invite you and will want to know how you came about such amount of money (if it's really big).
And I think as an international investor you are or will be, that's another good advantage, authorities in Nigeria seems to respect international investors much more than their own citizens, an international investor may cash out millions here in nigeria and the authorities will say nothing, or do nothing about it, probably because they assume that as an international person that you are, you must have business in your country paying you good amount, but for a Nigerian citizen, authorities will or may invite you and will want to know how you came about such amount of money (if it's really big).
Best country to cash out less questions asked ?
It's UK. ? Specially London where everything is easy ?
Many people Even drive there without dl license it's quite relax place i heard that USA not easy place to cash out.
Can the Dubai or spain can better? I mean less taxes Also so i Open company and transfer crypto from exchangers
It's UK. ? Specially London where everything is easy ?
Many people Even drive there without dl license it's quite relax place i heard that USA not easy place to cash out.
Can the Dubai or spain can better? I mean less taxes Also so i Open company and transfer crypto from exchangers
It is probably El Salvador or Singapore. I know Singapore has very business friendly policies. Please check the immigration rule to find out how much money you can take out from Singapore. It is the world's costliest country so the amount should be higher than anywhere else. There are multiple crypto exchanges operating from that country so it will be great if you can get some contacts over there and possibly ask for a better pricing than the market one. You can also think of Dubai because registeredding a business in Dubai is very easy and it takes less than a week. You would need such credentials before you can bring millions of dollars in your own country. There are multiple ways but it will be best if you can have someone providing you legal assistance.
Any country that considers Bitcoin a legal currency, has low taxes, a stable local currency price, and through which you can convert this currency into dollars and send it to your bank account, or living in that country is considered an ideal place.
Taking these factors, we will exclude many countries such as El Salvador, Germany, Monaco, Bermuda. The available options will be Dubai, Portugal, Malta, Australia. Then you need to search for each country and choose the best suitable for you, which may not be suitable for everyone.
I agree about Dubai because they don't have strict taxation policy but how about Portugal, Australia which I believe they belong to developed countries and already have strict policies on taxation. I am unsure about Malta but maybe not big different than Portugal and Australia.Taking these factors, we will exclude many countries such as El Salvador, Germany, Monaco, Bermuda. The available options will be Dubai, Portugal, Malta, Australia. Then you need to search for each country and choose the best suitable for you, which may not be suitable for everyone.
I don't think it is coincidence why many Bitcoin billionaires left their home-land nations and live in Dubai. They came here not simply to enjoy their rich life but also with some more friendly policies on taxation.
Dubai and Middle East are also a hub, paradise of cryptocurrency companies and blockchain events too.
The World’s Biggest Private Tax Havens
Any country that considers Bitcoin a legal currency, has low taxes, a stable local currency price, and through which you can convert this currency into dollars and send it to your bank account, or living in that country is considered an ideal place.
Taking these factors, we will exclude many countries such as El Salvador, Germany, Monaco, Bermuda. The available options will be Dubai, Portugal, Malta, Australia. Then you need to search for each country and choose the best suitable for you, which may not be suitable for everyone.
Taking these factors, we will exclude many countries such as El Salvador, Germany, Monaco, Bermuda. The available options will be Dubai, Portugal, Malta, Australia. Then you need to search for each country and choose the best suitable for you, which may not be suitable for everyone.
Someone who wants to cash out crypto worth several million can do so in countries that are friendly to crypto trading, and that could be the UK, US, Malta, or the Cayman Islands. Each country may have different regulations regarding crypto trading and individuals must comply with the regulations that apply there. However, if we talk about taxes, maybe Malta or the Cayman Islands could be the best place to cash out crypto with lower taxes and more guaranteed privacy compared to other crypto friendly countries.
We are going to have more development in coming years which will increase use of crypto, and also we will be able to have more improved policies for the crypto users in these countries so for me doing this all in Europe or USA is not ideal, but these are surely the best countries where you can do cashout and other stuffs.
What kind of development are you referring to? How would it impact crypto users who make a ton of money from trading etc? Is tax not a problem at all? I never cashed out that much money, but I'd argue that cashing out regularly for a small amount is probably better regardless of where you are, unless you are obligated to pay tax for how much crypto you own. In my country, for example, my crypto is taxed after I make trades or liquidate it to fiat, so cashing a million dollars in one go is going to be a headache. CMIIW.
By cashing out you mean settling down to live in that country? A few million dollars doesn't really sound like a lot with the current costs of living in Western countries. I would look into Eastern Europe and a great compromise between costs of living and comfort/security/development. So countries like Poland, Czechia, Slovakia, Baltic countries. I don't think you need to look specifically for a "crypto-friendly" country if you plan to cash out your coins - all you need is one bank that won't have problem with a large deposit coming from a crypto exchange.
Best country to cash out less questions asked ?
It's UK. ? Specially London where everything is easy ?
Many people Even drive there without dl license it's quite relax place i heard that USA not easy place to cash out.
Can the Dubai or spain can better? I mean less taxes Also so i Open company and transfer crypto from exchangers
Dubai might be a better place and a safer place to cash out and I’m sure you can do P2P there because more people are already into cryptocurrency and its legal there. As long as your fund is came from a good source and not being laundered you can just easily cash out that money. I wish to have this kind of problem as well but for now I have to do my best to at least own 1BTC. It's UK. ? Specially London where everything is easy ?
Many people Even drive there without dl license it's quite relax place i heard that USA not easy place to cash out.
Can the Dubai or spain can better? I mean less taxes Also so i Open company and transfer crypto from exchangers
We are going to have more development in coming years which will increase use of crypto, and also we will be able to have more improved policies for the crypto users in these countries so for me doing this all in Europe or USA is not ideal, but these are surely the best countries where you can do cashout and other stuffs.
El Salvador is indeed a haven for Bitcoin users to conduct any transactions, including withdrawing large amounts. There's no tax, even if you're a foreign investor residing in El Salvador. Nayib Bukele has truly turned El Salvador into a haven for Bitcoin users. Although I haven't personally visited there, several news reports on the legal adoption of Bitcoin in El Salvador confirm all of this.
As long as the crypto comes from money that doesn't violate the law, you are safe to withdraw. However, it can turn into a significant problem if the money you withdraw is proven to be from an illegal source.
Just cause they are crypto friendly doesn't mean the tax department's not going to be on their asses. They may not bat an eye while it's still crypto but soon as you start converting them in legal tender they'd be hot on your tail, as in the case with a couple personalities in the past. As long as the crypto comes from money that doesn't violate the law, you are safe to withdraw. However, it can turn into a significant problem if the money you withdraw is proven to be from an illegal source.
El Salvador doesn't seem that great either as the country to cash your crypto earnings, for the most part, yes, they have crypto access that allows you to use your crypto willy-nilly but at the same time, i don't think they have the financial capability to actually support a thousand whales cashing out their money on the daily, and not spending it in the country's internal economy mind you.
Look elsewhere, the money's gotta be kept still after you convert it into crypto Switzerland is a good choice, French I've heard great things about. Philippines should be a good country too because of less strict laws and a pretty indifferent outlook at crypto.
Best country to cash out less questions asked ?
It's UK. ? Specially London where everything is easy ?
Many people Even drive there without dl license it's quite relax place i heard that USA not easy place to cash out.
Can the Dubai or spain can better? I mean less taxes Also so i Open company and transfer crypto from exchangers
It's UK. ? Specially London where everything is easy ?
Many people Even drive there without dl license it's quite relax place i heard that USA not easy place to cash out.
Can the Dubai or spain can better? I mean less taxes Also so i Open company and transfer crypto from exchangers
I think you need to watch out as in some (most cases) the place where you cash out doesn't matter. It's your tax residency that matters. In some cases (like with US citizens if I'm not mistaken) the only way to get rid of it is to surrender your passport and become a citizen of another country. Although in some cases even this is not possible.
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