Post
Topic
Board Legal
Re: Capital Gains Tax - Friendly countries for cashing out BTC
by
isnottheword
on 17/12/2017, 22:23:42 UTC
Thanks for posting guys but I guess I'm looking for practical feedback from those that have travelled this road previously. Is there anyone here that has moved to a capital gains tax - free - jurisdiction in order to cash out their bitcoin?


@olushakes:  I'm in the early days of figuring this out  - but it's not going to be cost prohibitive to take up residency in Panama.  A few thousand dollars to get the visa and bank account sorted via an immigration attorney.  As regards being 'tagged as a criminal or spy', I have no such concerns.  I do have queries with regard to bank and exchange reporting requirements - and what that would mean in terms of my home country (were they to get this information and were I ever to return to live in my home country).  If anyone has info on that - relative to Panama or any other tax friendly state - I'd be grateful to hear from you.  Naturally, I've posed this query to the specialists - and i'm awaiting an answer....but perhaps someone here has the knowledge already...


@Dabs:  It's some years ago but I spent some time in the Philippines previously.  It was definitely a happy time.  However, what you are proposing ( that I hand over a slice of my holding to someone!) - is not what I'm looking for.  Nor am I interested in giving someone a 'loan' - there's an official label for such an action - Idiot Tax.  Weather, sexuality, how much bitcoin I hold? This doesn't come into the query - with respect.


Anyone broaching this taxation issue? - either currently or in the recent past?  If so, please post your experience here.