Well I don't know which country your from so asll I can say is you need to get the money out of the banking system. There is ZERO future in keeping untaxed money in any international bank account anywhere in the world.
i understand that. even a solution to relocate to a new country like switzerland or georgia and move all money there is a fail?
Martin Everson said:
You have to decide what your end goal is with the money and pick an asset you like and park it there.
my end goal is to hide these money from my country at any reasonable cost. what assets can you recommend? i can't come up with smth other than a real estate, but i don't think it's easy to buy an expensive real estate with closed registers without providing any source of income.
even a solution to relocate to a new country like switzerland or georgia and move all money there is a fail?
Relocate while you can if thats what you want to do. Leaving the EU in future will become a bureaucratic and tax nightmare in when they extend exit taxation rules to citizens and not just businesses.
hevocon said:
what assets can you recommend? i can't come up with smth other than a real estate,
Well you got to look at it like this. An asset is something that will produce money for you and maintain its value. So if you buy real estate it has to be rented out and producing good income or it has to be in a good location for high capital appreciation. Any asset that does not make you money is not an asset but a liability. When you add up non-rented out property upkeep costs or storage and insurance costs for gold you could actually end up out of pocket - something to think about.
It is for you to decide what asset you are comfortable with. Unregulated assets work best. The further away from a bank and the regulated financial system an asset is then the longer it can be kept private and secure thu&¤#.
Relocate while you can if thats what you want to do
what countries can you recommend to relocate?
Martin Everson said:
When you add up non-rented out property upkeep costs or storage and insurance costs for gold you could actually end up out of pocket - something to think about.
yes, but if i leave money in the bank account it can be confiscated, so i will end up the same
Martin Everson said:
Unregulated assets work best. The further away from a bank
i guess i can't just buy a real estate without an opening a bank account in a country i decide to buy and i don't think the tax office and a bank from this country will not ask any questions. i don't know even what country is great for this.
You want to consider Georgia, that's the place to enjoy freedom with no tax. However, I don't know how it is to live there. @Martin Everson you have lived there right?
You want to consider Georgia, that's the place to enjoy freedom with no tax. However, I don't know how it is to live there. @Martin Everson you have lived there right?
Yes I had it is easy living in Georgia and still keep residency there. Georgia is poor as hell though away from expat and tourist areas. However it is one of the last few wild west free economies left on the planet where freedom really means freedom. i.e until this year I think you didn't even need an address or car insurance to own and drive a car on the road in Georgia at least when I was there. Was same sh*t with banks I gave my hotel room when opening accounts with no proof of address required back then - all so easy and quick.
Anyway people a are friendly and honest except Forex dealers ns2. Place is easy to move too, easy to settle and easy to live. Cars are cheaper than everywhere I have been in world due to low taxes on them. Any taxes, public services, phone, internet and utilities etc etc you can pay via mobile apps that most banks offer. After leaving EU and arriving in Georgia I actually for first time in my life felt free and I wanted to voluntarily pay some taxes as system is fair and its a country trying to rebuild itself after its war with Russia via a free market economy.
P.S EU is not a free market but a captive market place ns2.
You want to consider Georgia, that's the place to enjoy freedom with no tax
i am considering georgia since there are no options left. for example to get a dubai residency and a residency in georgia, to buy some real estate in dubai, to cash out money from the banks and to tell my country i live in georgia having all papers and proofs. i don't know if it is a reliable solution and if is there a solution better
Martin Everson said:
Yes I had it is easy living in Georgia and still keep residency there
why you've moved out of there? do they impose any requirements to keep a residency without living there?
can a citizenship by investment be a solution? for example if i buy a passport and a property in st kitts and nevis to have a papers providing my citizenship and residence and then open a bank account in a country which has no crs or tax exchange information ties with my country, can i be safe then? can i be defined by a place of birth?
can a citizenship by investment be a solution? for example if i buy a passport and a property in st kitts and nevis to have a papers providing my citizenship and residence and then open a bank account in a country which has no crs or tax exchange information ties with my country, can i be safe then? can i be defined by a place of birth?
How much you want to invest/spend for residency, there are a lot of options, uae, paraguay, panama, Georgia it depend on what you need to do with new residence....
How much you want to invest/spend for residency, there are a lot of options, uae, paraguay, panama, Georgia it depend on what you need to do with new residence....
i have no experience in relocation so i don't know, as much as needed to solve the problem probably. what options are the best by your opinion? i need one residence to show at my country tax office and the second to keep there my assets as i described above
i have no experience in relocation so i don't know, as much as needed to solve the problem probably. what options are the best by your opinion? i need one residence to show at my country tax office and the second to keep there my assets as i described above
You want to move to new country or just have residence? You want to buy property in the new country to take residence? There are a lot of place where you can get residence through real estate investment, if you want to get residence through company there is UAE
Or as @xzars has wrote on the very good thread “how to avoid CRS” ( you can find it easy) you just need to buy property where you want and open companies and bank account with the new address... in this way you will avoid crs to your country
You want to move to new country or just have residence? You want to buy property in the new country to take residence?
i don't want to move but i see no other options, i need another residence and i need to take out the money from the banking system as Martin Everson mentioned, but i don't know what option is the best.
i don't want to move but i see no other options, i need another residence and i need to take out the money from the banking system as Martin Everson mentioned, but i don't know what option is the best.
There is not one best option, it depend on what investment you prefer, some gold, real estate, bonds?
in Bank, that's the problem, since the money will be traceable
If you are in eu and you have money in eu go outside, get nee residence and transfer all the money to your bank account (opened with new residence) maybe open a offshore company or foundation and with it hold property.... this will help you to protect your asset, you can do more complex structure for stronger protection... you can use nominee etc...
do you think some 6 figures transfers will be done without any difficulties from the bank?
For sure not, it exceed the limit of any banks to send transfers in such amounts without additional checks at their end. Maybe for 5 or 10 years it was still possible or if the bank know you very well over years but I don't believe it to work for "new" accounts with unknown account holder towards the bank.
