This was the first post
https://www.offshorecorptalk.com/threads/spaniard-crypto-exit-strategy-7-figures.32525/
After 15 days more of researching and talking with tax advisors from different countries this are the pros and cons I see for each country/strategy.
Strategy 1: Dubai
Pros:
-
0% tax
- Not that difficult to spend 183 days there (there are interesting things to do).
- Creating invoices to cashout is quite usual - Couple of advisors suggested to create a "software development" company (one mentioned in Sharjah Media City Free Zone, the other didn't mention any free-zone).
-
You can cashout and "start" a new crypto account - you can forget about explaining where the money comes from (missing exchanges). It all comes from your successful business in Dubai.
- No company accounting needed.
- No data shared with
Spain (other countries).
Cons:
- Cannot get the
tax residency until you spend the 187 days (which might be too late if you want to let your origin country's tax department know you're no longer there)
-
Not Mediterranean lifestyle
- Hell weather
- Not double tax avoidance treaty with Spain
- High cost of life (remember we're still
cash poor)
Strategy 2: Cyprus (+Estonian company)
Pros:
-
0% tax
- UltraEasy to spend 60 days there.
-
Mediterranean lifestyle
- Double tax avoidance treaty with Spain
- Can get the
tax residency in 15 days (which might be very good if you want to let your origin country's tax department know you're no longer there)
- Low cost of life (remember we're still cash poor)
Cons:
-
You can't cashout and "start" a new crypto account - you can only cashout the long term holdings (to avoid being considered as trader).
- You still have "hidden assets" - which can be a problem in the future.
- You have to create a Estonian company the next year to include your trading activity - which includes not spending more than 90 days in Cyprus to avoid being considered as
Cyprus company.
- Data shared with Spain (other countries).
Strategy 3: Andorra
Pros:
- You can cashout and "start" a new crypto account - you can cashout everything.
- Not that difficult to spend 183 days there (there are interesting things to do).
-
Mediterranean lifestyle ??
- Double tax avoidance treaty with Spain
- Can get the tax residency in 90 days (which might be quite good if you want to let your origin country's tax department know you're no longer there)
- Not expensive cost of life (remember we're still cash poor)
Cons:
- 1
0% tax (worse than Dubai/Cyprus, better than Spain)
- You have to create a real (i mean real) company + salary + social security + accounting
- You have to deposit 15k€ to the andorran government.
- Data shared with Spain (other countries).