Small fortune, now which country ? - page 2.

deisik

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Quote from: Qunenin on June 13, 2017, 12:53:12 PM

Could you transfer to FIAT, never tell the IRS and get away with it? It is pretty likely, if done right, but is that the way to go? The future of Bitcoin is set by these first couple thousand people and their actions. Your future is defined by these actions. These things can come back to haunt you and the Bitcoin community

The question is not about the IRS here

The OP is moving out of the United States, so he is evidently not going to pay US taxes. Further, the question is not about evading taxes as such, it is about not paying them legally (well, more or less). Other than that, the wealthy elites have been avoiding paying taxes for literally ages, and I haven't heard that many of them are massively haunted by "these things" (whatever you might mean by that)

Qunenin

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Could you transfer to FIAT, never tell the IRS and get away with it? It is pretty likely, if done right, but is that the way to go? The future of Bitcoin is set by these first couple thousand people and their actions. Your future is defined by these actions. These things can come back to haunt you and the Bitcoin community.

deisik

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Quote from: freigeist on June 13, 2017, 10:37:30 AM

Quote from: mantra on June 06, 2017, 09:41:51 PM

Singapore is the best choice if you want to live comfortable, tax free and very friendly to the immigrants, but of course you have to have money for life, good security and stability, and lots of entertainment there

What you mean by tax free?!
If you convert BTC or any other ctypto to FIAT you don't need to pay taxes there or what?!

Quote from: freigeist on June 13, 2017, 10:34:40 AM

Quote from: ladydark on June 07, 2017, 01:44:47 AM

I heard that switzerland has become a bitcoin friendly country.So you could settle there as its full of tourist spots.Or else,you could try an european country which provides tax exemption for bitcoins.

Which one would that be?!
Once you convert BTC or any crypto fo FIAT you need to pay the TAX

You seem to be obsessed with taxes

Or should I actually write TAXES? What taxes do you refer to exactly? In many jurisdictions, you may not need to pay taxes on selling bitcoins, especially if bitcoins are not regulated there (just in case, it doesn't mean that Bitcoin is illegal in that jurisdiction). If it is not regulated, you can safely assume it as being your property, and property may not be taxed if you possessed it for some time (say, 3 years). In practice, you move your coins to a reputable exchange, convert them to fiat (dollars or euro), and withdraw the proceeds to your bank account. And that's pretty much all there's to it

freigeist

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Quote from: kamotharnn on June 13, 2017, 10:47:43 AM

Quote from: freigeist on June 13, 2017, 10:37:30 AM

Quote from: mantra on June 06, 2017, 09:41:51 PM

Singapore is the best choice if you want to live comfortable, tax free and very friendly to the immigrants, but of course you have to have money for life, good security and stability, and lots of entertainment there

What you mean by tax free?!
If you convert BTC or any other ctypto to FIAT you don't need to pay taxes there or what?!

Well, that fee is very small and I do not think that it is an important issue. Moreover, you can use bitcoin for many purposes without converting it into fiat

Lest suppose you want buy a house or condo in that country which i think it costs a lost because the space is limited there
you would for sure require minimum of 250K USD for a small condo.

That means you would have to convert your crypto to FIAT to be able to buy that flat.
So can you give an estimation how much tax would a foreign citizen pay there to convert that crypto to FIAT
and even if possible how this process would be done?!

kamotharnn

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Quote from: freigeist on June 13, 2017, 10:37:30 AM

Quote from: mantra on June 06, 2017, 09:41:51 PM

Singapore is the best choice if you want to live comfortable, tax free and very friendly to the immigrants, but of course you have to have money for life, good security and stability, and lots of entertainment there

What you mean by tax free?!
If you convert BTC or any other ctypto to FIAT you don't need to pay taxes there or what?!

Well, that fee is very small and I do not think that it is an important issue. Moreover, you can use bitcoin for many purposes without converting it into fiat

freigeist

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Quote from: jmigdlc1199 on June 13, 2017, 10:38:30 AM

if you have at least 1 million dollar, then you would most likely be able to move to a first-world high class traveller country like Spain, Italy and one of those styles of countries, if less then something like Thailand and Malaysia are options, Australia if you could is a great choice.

Why would somebody like to move there they tax everything and the taxes are really high.
Higher the taxes smaller your freedom gets.

OROBTC

legendary

Activity: 2968

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...

Maybe O/P should drop along some more hints that those of us responding could sink our teeth into...:

1) How much traveling he's done? And to where?
2) More on his gf's ideas
3) Languages he speaks (or his very willing to learn, not easy)
4) Food likes/dislikes
5) Cultural likes/dislikes
6) Pet peeves (see changing money example of mine below)

I am in ITALY now. The food is great, but no A/C in the hot summer (and there is a heat wave in N. Italy now, 98 degrees F (high) the past few days).

I had a LOT of trouble changing dollars for euros this morning (most banks will not), had to go to their POST OFFICE, take a number and wait... I been to Italy several times, but sometimes it takes a lot of time and energy to do simple things in the USA.

jmigdlc1199

newbie

Activity: 13

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if you have at least 1 million dollar, then you would most likely be able to move to a first-world high class traveller country like Spain, Italy and one of those styles of countries, if less then something like Thailand and Malaysia are options, Australia if you could is a great choice.

freigeist

hero member

Activity: 1115

Merit: 535

Quote from: mantra on June 06, 2017, 09:41:51 PM

Singapore is the best choice if you want to live comfortable, tax free and very friendly to the immigrants, but of course you have to have money for life, good security and stability, and lots of entertainment there

What you mean by tax free?!
If you convert BTC or any other ctypto to FIAT you don't need to pay taxes there or what?!

freigeist

hero member

Activity: 1115

Merit: 535

Quote from: ladydark on June 07, 2017, 01:44:47 AM

Quote from: pfrtlpfmpf on May 26, 2017, 08:37:25 PM

Guys, i made a small fortune in altcoin/bitcoin. In which country should i settle ?
I have no wife, no kids, just a girlfriend, i´m free to go wherever i want (she´ll go with me).
But it has to be a bitcoin-friendly country.
I have no intention to buy lambos, just a peaceful life.
Thanks.

Oh, and my age is 53, that makes a difference too.

I heard that switzerland has become a bitcoin friendly country.So you could settle there as its full of tourist spots.Or else,you could try an european country which provides tax exemption for bitcoins.

Which one would that be?!
Once you convert BTC or any crypto fo FIAT you need to pay the TAX.

AtillaL

newbie

Activity: 19

Merit: 0

Quote from: qiman on June 08, 2017, 11:54:57 AM

Here in Cyprus is very nice. You can become a citizen with only buying a villa of 350k Euros. I will become a citizen as I am married to a Greek Lady but if you have your own home here it's a small paradise. I hope one day I will also make enough to provide a home for my Wife.

Good luck and congratulations.

And thinking that the Cypriot banks have helped btc going mainstream, it would get the circle complete Roll Eyes

Renji Abarai

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Activity: 230

Merit: 100

I think a good choice is in ASEAN countries, it includes Singapore, Malaysia,Indonesia,Philippines , Thailand, Vietnam. Singapore is good but I think its quite expensive. Malaysia, is fine then.Thailand and Vietnam, I have not much idea. But for me what is left to choose is Indonesia and Philippines. Both countries are very active in cryptocurrencies / bitcoin.

unisilver

sr. member

Activity: 378

Merit: 250

Quote from: ladydark on June 07, 2017, 01:44:47 AM

Quote from: pfrtlpfmpf on May 26, 2017, 08:37:25 PM

Guys, i made a small fortune in altcoin/bitcoin. In which country should i settle ?
I have no wife, no kids, just a girlfriend, i´m free to go wherever i want (she´ll go with me).
But it has to be a bitcoin-friendly country.
I have no intention to buy lambos, just a peaceful life.
Thanks.

Oh, and my age is 53, that makes a difference too.

I heard that switzerland has become a bitcoin friendly country.So you could settle there as its full of tourist spots.Or else,you could try an european country which provides tax exemption for bitcoins.

That's good to hear because switzerland is vey a progress country so once bitcoin their is implemented you can actually live there and focus on bitcoin. but bitcoin has no tax right? are there countries who has tax imposed on bitcoin?

alexsamudra

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Merit: 100

May have to go so there is no tax collection on the property, so I have it forever and nothing has got me to take care of it again.

tittensor

sr. member

Activity: 443

Merit: 250

Quote from: unisilver on June 06, 2017, 10:12:21 PM

Quote from: mantra on June 06, 2017, 09:41:51 PM

Singapore is the best choice if you want to live comfortable, tax free and very friendly to the immigrants, but of course you have to have money for life, good security and stability, and lots of entertainment there

I agree into that because singapore is really a good country and safiest country to live in less crime and most of the citizens thier really followed thier law thats why it brings peace to there country.

Singapore is a best of country on the world's about safe and clean. If you have a opportunity can settled in Singapore, you is a lucky people because the environment and the people here are very good!

qiman

hero member

Activity: 1036

Merit: 504

Here in Cyprus is very nice. You can become a citizen with only buying a villa of 350k Euros. I will become a citizen as I am married to a Greek Lady but if you have your own home here it's a small paradise. I hope one day I will also make enough to provide a home for my Wife.

Good luck and congratulations.

TheCoinGrabber

sr. member

Activity: 994

Merit: 302

Quote from: deisik on June 06, 2017, 12:38:40 PM

Quote from: pfrtlpfmpf on June 06, 2017, 10:40:44 AM

Thank you all, there are many good suggestions in this thread.
But i realize, i asked an impossible question, without listing all my exact priorities, as everybody looks for very different things in a country.
I got nearly every country around the world suggested, except the north- and southpole

One thing is for sure, no more freezing, i need sun !

What about Spitzbergen then?

And no, it is not in Switzerland (and neither is it in Sweden). If you need sun, you may literally get it all day long and even at night (though I'm not sure about no more freezing). Tourism (should I add an extreme variety thereof?) seems to be one their main industries, so it should be pretty cheap. And they have what's called the Global Seed Vault which is a seed bank to store plant seeds for a rainy day. You may want to visit it as well

I went back to check if anyone replied to my message and I cracked up when I saw this. It's probably not his idea of "sun". Grin

It would still be cool to see the Vault though, at least once. I suppose the aurora is also visible there.

Back to topic, maybe OP would consider the usual fare for expats moving out to the tropics, tax-havens in the Caribbean.

malami

member

Activity: 84

Merit: 10

Quote from: ladydark on June 07, 2017, 01:44:47 AM

Quote from: pfrtlpfmpf on May 26, 2017, 08:37:25 PM

Guys, i made a small fortune in altcoin/bitcoin. In which country should i settle ?
I have no wife, no kids, just a girlfriend, i´m free to go wherever i want (she´ll go with me).
But it has to be a bitcoin-friendly country.
I have no intention to buy lambos, just a peaceful life.
Thanks.

Oh, and my age is 53, that makes a difference too.

I heard that switzerland has become a bitcoin friendly country.So you could settle there as its full of tourist spots.Or else,you could try an european country which provides tax exemption for bitcoins.

Thats a good option if the fortune is enough to retire on in a rich country because Switzerland is an extremely expensive place to live in plus you need several millions to get a permanent visa there as an investor. In reality its much easier to get long term visas in poorer countries than it is rich ones plus its much cheaper to get by in those countries. I would suggeset SE Asia like Thailand or the Philippines because at the end of the day its easy to cash out of bitcoin regardless of where you live in the world.

megynacuna

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Quote from: niisarearning on June 07, 2017, 01:02:50 AM

I would recommend go around some specific countries in europe and other region where bitcoin is accepted and stay in rented property . Once you finish with your check list then you can decide . Own decision gives more peace if your finding real peaceful life

Well from the look of things it seems he's looking for a specific place to settle and not necessarily moving around like you've suggested so I will suggest he move to settle in a Bitcoin friendly country and I think we have majority of them in Europe or he can choose to move to Japan or North America.

ladydark

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Merit: 500

Quote from: pfrtlpfmpf on May 26, 2017, 08:37:25 PM

Guys, i made a small fortune in altcoin/bitcoin. In which country should i settle ?
I have no wife, no kids, just a girlfriend, i´m free to go wherever i want (she´ll go with me).
But it has to be a bitcoin-friendly country.
I have no intention to buy lambos, just a peaceful life.
Thanks.

Oh, and my age is 53, that makes a difference too.

I heard that switzerland has become a bitcoin friendly country.So you could settle there as its full of tourist spots.Or else,you could try an european country which provides tax exemption for bitcoins.

Topic: Small fortune, now which country ? - page 2. (Read 9215 times)