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Crypto high 6 fig with no source of funds no tax returns looking to offramp
- Thread starter MrTambourineBTC
- Start date
Yes, or Andorra, Monaco, Germany etc. But don't come cry once they told the Spanish guys that you actually held it while you were there and would have been subject to tax. You have made enough money, so you do no longer need to live off social welfare.
It’s real—there’s a specific division within the Spanish Tax Agency (Agencia Tributaria) internally known as the “030 team.” Not joking.
That said, it’s true that the likelihood of scrutiny increases if you “relocate” to certain jurisdictions like Andorra, Portugal, Gibraltar, the UK (although now that the non-dom scheme is over, this may relax), Monaco, Cyprus, Malta, or Italy. These countries are often targeted because it’s easier to simulate residency there.
If you’re curious, there’s also another “special operations” team known as “los zoneros.” They focus on Spanish individuals who claim to have moved to the Canary Islands and set up a “Zona ZEC” company to benefit from the reduced 4% corporate income tax rate instead of the standard 25%.
I’ve heard there’s another team, often referred to as los peluqueros, which allegedly handles cases involving offshore residents who spend significant time in Spain. The Spanish tax authorities use this to argue that such individuals should be classified as Spanish tax residents. The name los peluqueros might stem from how tax investigators reportedly gathered evidence in the Shakira case, following her daily for 12 months and documenting her frequent visits to a hairdresser in Barcelona to support their claim that she was a full tax resident in Spain.
That said, it’s true that the likelihood of scrutiny increases if you “relocate” to certain jurisdictions like Andorra, Portugal, Gibraltar, the UK (although now that the non-dom scheme is over, this may relax), Monaco, Cyprus, Malta, or Italy. These countries are often targeted because it’s easier to simulate residency there.
If you’re curious, there’s also another “special operations” team known as “los zoneros.” They focus on Spanish individuals who claim to have moved to the Canary Islands and set up a “Zona ZEC” company to benefit from the reduced 4% corporate income tax rate instead of the standard 25%.
I’ve heard there’s another team, often referred to as los peluqueros, which allegedly handles cases involving offshore residents who spend significant time in Spain. The Spanish tax authorities use this to argue that such individuals should be classified as Spanish tax residents. The name los peluqueros might stem from how tax investigators reportedly gathered evidence in the Shakira case, following her daily for 12 months and documenting her frequent visits to a hairdresser in Barcelona to support their claim that she was a full tax resident in Spain.
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Sorry about hijacking this thread a little bit but I think this will be a good piece of additional information to the topic if answered.
I am not from Spain but from the EU, where do you suggest to go? I know EU is really messed up and they are obsessed with constant theft, redistribution, etc. etc. yet I cannot locate a safe alternative
I read here and see Paraguay, Dominican Republic, and so on. these places are good to go for my winter holiday when I get cold, still I cannot imagine a full time residence there. Simply they don't really feel safe, statistics show that too, the lifestyle is also different and even more so in some other Carribean places.
I found Uruguay a bit more comfortable in some way but it is not super tax effective compared to the usual mentioned choices.
So far I only really felt good about Georgia and using the really minimal tax individual entrepreneurship while continuing to receive from the foreign companies with substance. I guess Georgia is at risk with RU and this is not the right area for political talks, anyways it seemed like the most acceptable.
Or do you have some other picks that make sense?
But the current NHR 2.0 doesn't include capital gains or dividends, right? It's only for income tax from what I digged into it.
I was very close to going for NHR + Malta/cyprus in 2023 but I had a lot of uncertainties and in the end didn't end up pulling the trigger. If I went back in time I'd surely go to Portugal with nhr + malta/cyprus company with enough substance. I know more about the Portuguese IRS and a good enough setup would be very very safe in my opinion.
For crypto cash out? Georgia would be one of the right places, plenty of 'kiosks' offering cash for USDT, as well as lots of telegram groups. Some even pay you 0.5% for that, instead of charging you a fee, as sometimes they are in need of USDT. Bulgaria used to do the same, as Turkey too, but I am not sure about the current situation. And there are other gems as Montenegro and Albania, too.
Otherwise, the usual suspects in Asia. For full time: PH, KH, VN, MY, TW, MU, for <6 months per year: TH, JP, ID.
If you prefer South America, Panama seems like a simple choice, Nicaragua is a much cheaper and adventurous option, and Equador is something in between. Well, and PY if you don't need beaches. You could also look into República Oriental del Uruguay, but as it looks a little too boring, I haven't looked into the details.
Well if I want a permanent solution to my ever growing crypto portfolio "problem" at some point I'm going to have to leave. There's no other way around it.
The only way they could hurt me with an audit would be by linking 15-20k of yearly expenses for the last 4 years (through nexo/crypto.com debit cards) with wallets from which I made the tx to crypto.com/nexo, and then accuse me of those being my wallets. Afaik that is unheard of right? How can they prove those wallets belong to me. Afaik wallets (at least until mica comes into play in a few days) are pseudonymous...
I've been quite anxious since I read that message of yours about 030 + high risk of audit tbh
I felt that worst case scenario I go to Portugal and have to sell my house but that's about it, but if you add the added risk of getting audited that's pretty bad. Still can't figure out what to do.
You seem to mention that other destinies like Panamá would make me less likely to get audited, that would be cool but sadly it's not really an option for me.
How do you succeed with the transaction by now? You must have found a good solution to do so or are you still in the look out for some documents or company stucture you get the thing done smooth and quick ?
Have you paid capital gains tax on your crypto earnings?
And for the card spending, have you read this
https://www.justice.gov/opa/pr/cour...eking-information-about-dutch-residents-using
I tell you once more before they get you in jail: run, mow!
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