Moving to a country with very high tax. Can I use assistance from my parents and take advantage of the low gift tax to pay less tax on my crypto?

[user563728]

I live in a EU country with a low tax on crypto. I want to start accumulating crypto in the next few weeks/months with goals of selling in 2/3 years. But also next year I want to move to a country with very high tax on crypto (for a more enjoyable life and I have connections there). Can I give my parents my current savings and buy said crypto from one of their KYC and make it seem as that crypto is theirs. Then when I decided to sell it, have them do it, then have them pay the low tax in my home country and then send the money to me as a 'gift' and I pay the low gift tax in the new country that I reside in? Then even with this double tax, I would still end up paying a lot less rather than paying the high tax in the new country. Would that work?

 

[whatname]

I'm strongly anti-KYC and hodl for life type of guy, but besides of that, I think that yes it should work. I'd say just make sure to use theirs document and their bank acc to cash out.

 

[user563728]

I'm strongly anti-KYC and hodl for life type of guy, but besides of that, I think that yes it should work. I'd say just make sure to use theirs document and their bank acc to cash out.

Can they declare profits without actually withdrawing cash to their bank accounts but just have the sell orders to stable coins as proof of profits? So they can send my money as stables instead of through a bank transfer?

 

[tolstoy]

OP why dont you just buy Consulting services for a small percentage from some zero tax company like in Seychelles and then take back the money in Crypto.

 

[whatname]

Can they declare profits without actually withdrawing cash to their bank accounts but just have the sell orders to stable coins as proof of profits? So they can send my money as stables instead of through a bank transfer?

I think each country treats this somewhat differently. However I think yes. That should work. You probably don't want to send the stable coins to yourself, it should probably be your parents crypto-wallet, which they for some reason probably lose their private keys to.

However you also mention sending your parents these crypto funds. Make sure to look up if gifts is taxable event, in yours or theirs country, also be prepared that they might want to know your proof of purchase back in the days. It's complicated.