Would you move to a tax haven to protect your crypto trillions?

civiszero

jr. member

Activity: 84

Merit: 1

Quote from: gentlemand on February 25, 2018, 03:43:05 PM

Quote from: civiszero on February 25, 2018, 03:30:46 PM

Hmm depends how much tax are we talking about

Ok. As a ball park to get your mind whirling you have 8 million dollars worth that's almost all pure gain. Now tell us what you would do, that's if you're taxed at all. You may not be depending on where you live.

Allright , if i had 8 million i would migrate to iceland cash out 4 million and start a legit mining company to leverage on taxes. Then the other 4 million , 2 million i would invest in privacy coins and buy gold with and the other 2 million i would reinvest and pay out in for instance indonesia to live for cheap and run my empire

civiszero

jr. member

Activity: 84

Merit: 1

Quote from: countryfree on February 26, 2018, 09:44:58 AM

Quote from: gentlemand on February 25, 2018, 12:50:47 PM

Where did you head?

Unfortunately most of them are islands. I like hanging out in Monaco too but that's even more repulsive than the island ones I've been to. Most of them seem to consist of resentful locals and entitled tax dodgers which doesn't make for a harmonious society.

There's no single easy answer. You must not think about moving, you shall think about spreading.

There's one country which gives me a passport.
There's one country where I've registered one business.
There's one country where I own a house.
There's one country where my car is registered...

I do not undestand this one

TheQuin

hero member

Activity: 2576

Merit: 883

Freebitco.in Support https://bit.ly/2I9BVS2

Quote from: gentlemand on February 25, 2018, 01:25:24 PM

Yes, you would have to provide the UK tax man with plenty of satisfaction before he lost interest. I think you'd only be able to visit the UK for 90 days of the year or 180. But on top of that it's subjective on their part. They want to be sure you've done a clean break and aren't just dabbling and there doesn't appear to be a definitive set of steps to prove that.

That's partly due to UK tax regulations being a lot tougher on expats than a lot of other countries. I used to go to The Cayman Islands on business and met a British guy there who was living in Spain and The Caymans. He needed to spend 1 day over 6 months in each year to qualify as a resident there.

To answer the question I would consider it but it would have to be a hell of a lot of money.

Don Pedro Dinero

legendary

Activity: 1358

Merit: 1565

The first decentralized crypto betting platform

Quote from: cindygirl on February 25, 2018, 05:10:05 PM

If you had trillions then there wouldn't really be a need to avoid tax on it. If the tax you could save would make a significant difference in your life and that would outweigh the costs of moving, both monetary and emotional then I don't see why not. For me if it was say a couple of million dollars that was being taxed at around 40% then I would probably move.

This. If it was trillions I think I wouldn’t care, I would have so much that I could pay tax and have enough money to live the rest of my life. However, if it was something like 5.000.000 €, I would consider moving to a tax haven for a while, but I would prefer Bahamas of somewhere in the Caribbean.

countryfree

legendary

Activity: 3066

Merit: 1047

Your country may be your worst enemy

Quote from: gentlemand on February 25, 2018, 12:50:47 PM

Where did you head?

Unfortunately most of them are islands. I like hanging out in Monaco too but that's even more repulsive than the island ones I've been to. Most of them seem to consist of resentful locals and entitled tax dodgers which doesn't make for a harmonious society.

There's no single easy answer. You must not think about moving, you shall think about spreading.

There's one country which gives me a passport.
There's one country where I've registered one business.
There's one country where I own a house.
There's one country where my car is registered...

cindygirl

full member

Activity: 280

Merit: 105

If you had trillions then there wouldn't really be a need to avoid tax on it. If the tax you could save would make a significant difference in your life and that would outweigh the costs of moving, both monetary and emotional then I don't see why not. For me if it was say a couple of million dollars that was being taxed at around 40% then I would probably move.

colmenajose

newbie

Activity: 278

Merit: 0

Of course I would move to a fiscal paradise to protect my investment, and continue to produce more wealth for the benefit of me and my family.
Wink

gentlemand

legendary

Activity: 2604

Merit: 3056

Welt Am Draht

Quote from: civiszero on February 25, 2018, 03:30:46 PM

Hmm depends how much tax are we talking about

Ok. As a ball park to get your mind whirling you have 8 million dollars worth that's almost all pure gain. Now tell us what you would do, that's if you're taxed at all. You may not be depending on where you live.

civiszero

jr. member

Activity: 84

Merit: 1

Hmm depends how much tax are we talking about

gentlemand

legendary

Activity: 2604

Merit: 3056

Welt Am Draht

Quote from: The Sceptical Chymist on February 25, 2018, 03:00:57 PM

This is a moot point for me since I don't have millions of dollars worth of bitcoin, but if I was one of these whales we hear so much about? Yeah, I'd consider it and seriously do so. For the tax savings, for sure, but also for two other good reasons.

One, I live in the US and we currently have a genuine psychopath for president, and I'd like to escape his wide swath of destruction.

And two, I suspect the cost of living is a hell of a lot less in a tax haven country, so my bitcoin millions would go farther. I could have Snickers and blowjobs every evening if I so chose.

I'm somewhat jealous of these Asians from poor countries, because if they actually manage to not get banned here, they could live like a true pimp just from campaign earnings. I could probably own whatever passes for a mansion if I lived in such a country.

Aye. I don't think enough of us fat first worlders realise what sig campaigns mean in many other parts of the world. You'd have to spend 1000 years at university to earn a similar amount.

Professional tax havens certainly know their own worth so I can't imagine living would be much or any cheaper for expenses than the US.

Other neighbouring islands to Alderney have two tier property markets for instance so the tax dodgers pay through the nose. Others will tell you to sod off until you're rich enough.

carter34

member

Activity: 1302

Merit: 25

I think that bitcoin is a blessing to every partaker irrespective of where the person is from or operating and being a member of this forum is a plus blessing too.

My point therefore is that, we earn an additional pay that is different from our daily jobs(for people who are not depending only on bitcoin) in this forum either by joining bounties or doing other jobs in the forum. So, whether we are from America, Asia, Europe etc, bitcoin value is higher than any fiat money when converted, we can avoid to disrupt our lives if we want. Is just a choice and life style.

buytheeffinD

full member

Activity: 266

Merit: 101

The revolutionary AI gaming ecosystem

If I could make an immense amount of savings yeah I would disrupt my life, but I think what you are giving up for what you are getting will almost never be worth it. Sure you are gaining more money but at what expense? I would only consider this if the leaving of my country came with a new experience abroad somewhere else.

The Sceptical Chymist

legendary

Activity: 3556

Merit: 7011

Top Crypto Casino

This is a moot point for me since I don't have millions of dollars worth of bitcoin, but if I was one of these whales we hear so much about? Yeah, I'd consider it and seriously do so. For the tax savings, for sure, but also for two other good reasons.

One, I live in the US and we currently have a genuine psychopath for president, and I'd like to escape his wide swath of destruction.

And two, I suspect the cost of living is a hell of a lot less in a tax haven country, so my bitcoin millions would go farther. I could have Snickers and blowjobs every evening if I so chose.

I'm somewhat jealous of these Asians from poor countries, because if they actually manage to not get banned here, they could live like a true pimp just from campaign earnings. I could probably own whatever passes for a mansion if I lived in such a country.

leea-1334

hero member

Activity: 2352

Merit: 953

Temporary forum vacation

Brunei is something a bit different from island. Technically it is on an island (the third largest in the world, but it is all within driving distance of Malaysia and Indonesia, and 2 hours away from everything else surrounding Southeast Asia. I read they have zero tax on anything. Not income, not capital, not savings. Zero tax on everything (they have a kind rich king). Crypto is also very new to that region as far as I know. I do not think I would mind moving there at all.

drukoz2

member

Activity: 395

Merit: 10

I read in the book of Robert Kiyosaki: "Rich dad, poor dad". There is an option to register a Corporation in the US and mask their large transactions in it. To make expenditures on the maintenance and development of this Corporation. Thus, the tax authorities are not afraid. Is that true, guys? I see You already have experience in this matter.

Pan Troglodytes

member

Activity: 392

Merit: 39

You might also consider Malta. But truth be told, it is a smallish place too, you can meet their prime minister doing shopping

Any tax haven you consider, I think, to be subjected to the haven taxation, you would have to either move there or at least make it look like you moved there.

Hui8

sr. member

Activity: 602

Merit: 259

I think wouldn’t scratch my bum for saving up the taxes neither I would take so many efforts to do so. I will just pay the shit and keep the 80% for myself. That’s still huge amount of money if considered from the crypto point of view. The money that we earn from the crypto is usually coming as much free as water in drinking tap. Really why should we bother to pay taxes if that’s going to be easy afterwards for us and for the chasing tax inspector. Lolz. One should think like rich man when you actually get rich and leave the sloppy cheap life behind. Cheesy

steadyrice

member

Activity: 140

Merit: 11

I don't think so. Being rich equals doing whatever I want to do, in my book. So if I have to live somewhere I don't want to live in order to have money, how rich am I really? I do realize paying taxes stings, but I want myself to determine what I do with my money, and not vice versa.

bitcoinman93

newbie

Activity: 280

Merit: 0

Quote from: gentlemand on February 25, 2018, 12:40:52 PM

I've been lurking in a tax haven recently - Alderney. Here there's no capital gains, no inheritance tax, no vat, and income tax is 20%. It's been fun for a few days. Beyond that I would go batty. Flights constantly get cancelled, everyone drinks like fuck as there's nothing else to do and you'd probably scratch your bum and someone at the other end of the island would ask whether it cured the itch the next day.

In the UK I would get taxed at 20% if I sold all. That's a fair chunk but more than bearable considering most tax havens are ghastly so it wouldn't be an option for me.

Ive seen some startlingly elaborate arrangements on here. For the sake of some extra money you'll never spend it doesn't seem anywhere near worth it to me.

How far would you disrupt your life to save some tax?

I had to google Alderney Cheesy

looks like a beautiful island though and within the reach for you as UK citizen. I' not sure if going for tax heavens is worth it but if you're willing to put your efforts there, why not.

SHAWN-MIDWAYS

hero member

Activity: 686

Merit: 521

It will depend on how bad the tax rates are and if I feel am losing most of my money to these tax expenses then I certainly would not think twice about relocating to a different place to protect my crypto trillions and I know this won't be a cheap step to take as starting a new life is expensive as far as I know.

Topic: Would you move to a tax haven to protect your crypto trillions? (Read 275 times)