You need to become Non Resident UK 1 year out to establish the requirements. See the link shared earlier for the tests/criteria)
You may remit to UK once Non Residency is established. There may be Bank AML requirements to later prove income (also you prove your offshore income when non resident but good to be prepared if after yiu plan to return to uK)
If go non resident route, keep your Bank Accounts in uk, they will become part of your Offshore accounts later
Simple Cost Benefit Assessment considering your
Tax Liability
- Cyprus?
-
Estonia?
- Georgia?
Or
Thailand..then go stay in Europe.
Thailand is a Territorial Tax Regime. In fact travel via Georgia open a
Bank Account when there as Tourist.
Get a 1 year multi Entry 60 day Biz Visa (doable with agent and biz invite) Or pay for the 5 year Elite Visa its about £20k (there are other options if you google)
This will give you the opportunity to set up some offshore bank accounts using your Thai Visa and Thai Bank Account, Thai TIN number (easy to get), few really simple steps, like, Thai phone number, to build your residence can all be done in a few weeks, open other jurisdictions bank accounts (easy with your visa, thai bank statement,
mail forwarding address, Thai number)
(this is possible on a tourist visa, & one for another thread depending on how it is managed, but there are risks obviously)
Cash out thru appropriate exchanges there are few in HK for high value clients. For your receiving Bank it may look better for funds coming from a HK Company rather than well used high volume Exchanges.
(admin may I post the details?)
You may find it useful to set up a Company for
investment and cash out (chat to
Mentor Group)
Note: although Thailand is a Territorial Tax State, DO NOT CASH OUT LARGE Amounts in Thailand they are keen on Crypto and have favourable laws but world wide tax on crypto and also cashing out more than $10K there you can get trapped on the importation of money laws. Few cases if you google, I am sure they even honey trap thru local bitcoins or craiglist. (good money making scheme for them) So keep it under $10k
The Benefit of Thailand is you may remit Fiat to Thailand Tax Free in the year after it is earned. On this basis they are not interested in offshore earnings.
Further more they are not introducing
CRS for another 2 years (will still do it but probably get delayed as the elites are not happy). But as you will be non resident.UK who cares you are resident in a Territorial Tax Regime and living outside the UK
Use your cash out to invest.. in crypto
Ps: Thai Elite is 6 years if yiu go in just before the end.of year visa expiry. Use the correct website this is the government one, therr are a few agents so best to go direct
https://www.thailandelite.com/?locate=en
Sorry I was wrong on price 5 year is $15k USD and 20 year $30k USD
