Moving to Norway for work, need advice regarding BTC in the country!

[GoingNordic777]

Hey everyone! sorry for the english language. Need your advice on the situation:

I am soon moving to Norway for long-term work and I will be able to visit Sweden too a few times per year. I have been trading BTC for some time on a local exchange platform, but it is illegal in my country to withdraw the BTC. I know from Wikipedia that the BTC is legal in both Sweden and Norway but they are regulated a bit differently.

My question is - if I can open bank accounts in both Sweden and Norway and then just go to localbitcoins and choose a trader to help me withdraw some of my BTC - what is the best country to withdraw to? Is there any tax or limitations by the government or banks? I can move like 2-3 BTC at a time. I can do it frequently too - have some money saved on the exchange. But I am afraid that they will apply some sort of VAT or whatever and I will lose a lot money.

I have also read the news that due to the terror threat in Europe, a lot of countries will soon make tighter laws in regards to BTC. So I was wondering if it is even worth investing at this point or is it really more a pain in the ass.  Please update on the current status!

Thank you in advance for your input!

[TookDk]

You might encounter a problem with opening a bank account in Scandinavian country were you do not have a social security number.
So if you are not a resident in Sweden then could you run into problems when trying to open an account.

In respect to the terror law, you will be required to let the bank take a copy of you ID and you will have to fill in a detailed form about your estimated activity for the year, e.g. from/to what country you are moving funds and how much, total sum per year etc.

[GoingNordic777]

Thank you for the answer! I do not have a problem opening an account. I mean even if I will have this problem (although I am getting the personnummer) - I have my close relatives who lived there for years already. So it is not so much a problem.

I was only asking if there are any limitations or taxes that Sweden or Norway can take from me?

Thx.

[Nomad88]

Firstly, i wish you the best with your relocation. I know it is never easy since i have relocated long distances many times myself and i know how hard it can be.

I live in Norway and i can  call myself very active in Bitcoin world. However, i never involved my bank account with my bitcoin transactions. I earned most of my coins from online jobs and also bought some with cash. I also used cash a few times when i needed to sell Bitcoin. I am doing this because there are a lot of unanswered questions by the Norwegian Tax Administration at the moment. This is all i could find:

http://www.skatteetaten.no/no/Radgiver/Rettskilder/Uttalelser/Prinsipputtalelser/Bruk-av-bitcoins--skatte--og-avgiftsmessige-konsekvenser/

[Kupsi]

I sell on Kraken or Bitstamp and withdraw (SEPA) to my bank account in Norway. I have no problem with that.

[Nomad88]

I sell/buy bitcoin for only cash in Norway. Anyone around Oslo/Telemark can contact me regarding such a service.