Small fortune, now which country ?

[deisik]

Singapore is the best choice if you want to live comfortable, tax free and very friendly to the immigrants, but of course you have to have money for life, good security and stability, and lots of entertainment there

What you mean by tax free?!
If you convert BTC or any other ctypto to FIAT you don't need to pay taxes there or what?!

I heard that switzerland has become a bitcoin friendly country.So you could settle there as its full of tourist spots.Or else,you could try an european country which provides tax exemption for bitcoins.

Which one would that be?!
Once you convert BTC or any crypto fo FIAT you need to pay the TAX

You seem to be obsessed with taxes

Or should I actually write TAXES? What taxes do you refer to exactly? In many jurisdictions, you may not need to pay taxes on selling bitcoins, especially if bitcoins are not regulated there (just in case, it doesn't mean that Bitcoin is illegal in that jurisdiction). If it is not regulated, you can safely assume it as being your property, and property may not be taxed if you possessed it for some time (say, 3 years). In practice, you move your coins to a reputable exchange, convert them to fiat (dollars or euro), and withdraw the proceeds to your bank account. And that's pretty much all there's to it

[Qunenin]

Could you transfer to FIAT, never tell the IRS and get away with it?  It is pretty likely, if done right, but is that the way to go?  The future of Bitcoin is set by these first couple thousand people and their actions.  Your future is defined by these actions.  These things can come back to haunt you and the Bitcoin community. 

[deisik]

Could you transfer to FIAT, never tell the IRS and get away with it?  It is pretty likely, if done right, but is that the way to go?  The future of Bitcoin is set by these first couple thousand people and their actions.  Your future is defined by these actions.  These things can come back to haunt you and the Bitcoin community

The question is not about the IRS here

The OP is moving out of the United States, so he is evidently not going to pay US taxes. Further, the question is not about evading taxes as such, it is about not paying them legally (well, more or less). Other than that, the wealthy elites have been avoiding paying taxes for literally ages, and I haven't heard that many of them are massively haunted by "these things" (whatever you might mean by that)

[OVOBTC]

Can't really make a suggestion unless know the approximate amount or value of the bitcoins you are holding now, it will be very different if it's 3000 or 100 bitcoins, if it's something on the high-end I would say either some island country or a luxurious place in Canada or Australia, And both of them are friendly to  bitcoins, Otherwise Far east countries are both interesting tourist spots and friendly to bitcoins.

[Wendigo]

Singapore is the best choice if you want to live comfortable, tax free and very friendly to the immigrants, but of course you have to have money for life, good security and stability, and lots of entertainment there

What you mean by tax free?!
If you convert BTC or any other ctypto to FIAT you don't need to pay taxes there or what?!

I heard that switzerland has become a bitcoin friendly country.So you could settle there as its full of tourist spots.Or else,you could try an european country which provides tax exemption for bitcoins.

Which one would that be?!
Once you convert BTC or any crypto fo FIAT you need to pay the TAX

You seem to be obsessed with taxes

Or should I actually write TAXES? What taxes do you refer to exactly? In many jurisdictions, you may not need to pay taxes on selling bitcoins, especially if bitcoins are not regulated there (just in case, it doesn't mean that Bitcoin is illegal in that jurisdiction). If it is not regulated, you can safely assume it as being your property, and property may not be taxed if you possessed it for some time (say, 3 years). In practice, you move your coins to a reputable exchange, convert them to fiat (dollars or euro), and withdraw the proceeds to your bank account. And that's pretty much all there's to it

Regulated or not, you have to pay taxes after having sold Bitcoin for local currency. I have personally looked into this matter when I was going to sell coins and withdraw to my bank account and yes I have to include Bitcoin in my income tax form. I think Bitcoin is subject to Capital Gains Tax but I am not an expert on this. However I am 101% positive that you have to pay tax when selling for local currency.
If you have been selling Bitcoin and haven't reported anything to the tax agency I would suggest consulting a tax attorney or something before landing yourself in hot water.

This might help: How are Bitcoins taxed     https://www.thebalance.com/g00/how-bitcoins-are-taxed-3192871

[canvan]

Could you transfer to FIAT, never tell the IRS and get away with it?  It is pretty likely, if done right, but is that the way to go?  The future of Bitcoin is set by these first couple thousand people and their actions.  Your future is defined by these actions.  These things can come back to haunt you and the Bitcoin community

The question is not about the IRS here

The OP is moving out of the United States, so he is evidently not going to pay US taxes. Further, the question is not about evading taxes as such, it is about not paying them legally (well, more or less). Other than that, the wealthy elites have been avoiding paying taxes for literally ages, and I haven't heard that many of them are massively haunted by "these things" (whatever you might mean by that)

I believe US citizens have to pay US taxes regardless of where they are in the world. I was told the only way to avoid them if by renouncing their citizenship.

[HabBear]

Wow, what a fortunate place to be! Congratulations.

I have more questions for you:

• How much proximity do you need to people or a major city?
• Will you be leaving your wealth in Bitcoin and alt coins, living off of it directly (or buying fiat as needed)?
• If you leave your wealth in the crypto-currency and the market drops for a prolonged period of time, what will be your rescue net or plan? Will you go back to work? If so, what do you do?

A country with a lower cost of living (either generally or at least lower than the country you live in) is a smart starting point. You can immediately increase the spending value of your wealth or the ability to live in the upper class with this one cost of living arbitrage consideration.

SE Asia is relatively cheap, tropical, and exotic (presuming you don't already live in that area!) New Zealand is beautiful, everyone is friendly, and it'll be easier for you to live off the grid a bit. Eastern Europe will find you lower cost of living (than Europe) but with proximity of much of the culture, market, and urban life that Europe offers.

If I were you, I'd want to find a good, safe, and very comfortable spot to call home and then do a lot of travel to see family and the world. If you're in NZ, you're a long way from everywhere. IF you're in one of the major continents you'll have an easier time traveling to more locations.

Last thing, you should start a blog so newbies can live vicariously through you and to bring awareness to bitcoin!

[Michhotdog]

Could you transfer to FIAT, never tell the IRS and get away with it?  It is pretty likely, if done right, but is that the way to go?  The future of Bitcoin is set by these first couple thousand people and their actions.  Your future is defined by these actions.  These things can come back to haunt you and the Bitcoin community

The question is not about the IRS here

The OP is moving out of the United States, so he is evidently not going to pay US taxes. Further, the question is not about evading taxes as such, it is about not paying them legally (well, more or less). Other than that, the wealthy elites have been avoiding paying taxes for literally ages, and I haven't heard that many of them are massively haunted by "these things" (whatever you might mean by that)

I believe US citizens have to pay US taxes regardless of where they are in the world. I was told the only way to avoid them if by renouncing their citizenship.

As far as I know, there are very large taxes in the United States of America, but the whole point is that these taxes are paid by people not in vain. For those people who conscientiously pay taxes to the treasury of the state, in time they receive bonuses or even a refund of money with interest. I know this from the true citizens of America.

[cr1776]

Could you transfer to FIAT, never tell the IRS and get away with it?  It is pretty likely, if done right, but is that the way to go?  The future of Bitcoin is set by these first couple thousand people and their actions.  Your future is defined by these actions.  These things can come back to haunt you and the Bitcoin community

The question is not about the IRS here

The OP is moving out of the United States, so he is evidently not going to pay US taxes. Further, the question is not about evading taxes as such, it is about not paying them legally (well, more or less). Other than that, the wealthy elites have been avoiding paying taxes for literally ages, and I haven't heard that many of them are massively haunted by "these things" (whatever you might mean by that)

I believe US citizens have to pay US taxes regardless of where they are in the world. I was told the only way to avoid them if by renouncing their citizenship.

That is correct.  And even renouncing results in an exit tax.  The authoritarian fascists/socialists/communists need other people's money to buy votes.

[deisik]

Singapore is the best choice if you want to live comfortable, tax free and very friendly to the immigrants, but of course you have to have money for life, good security and stability, and lots of entertainment there

What you mean by tax free?!
If you convert BTC or any other ctypto to FIAT you don't need to pay taxes there or what?!

I heard that switzerland has become a bitcoin friendly country.So you could settle there as its full of tourist spots.Or else,you could try an european country which provides tax exemption for bitcoins.

Which one would that be?!
Once you convert BTC or any crypto fo FIAT you need to pay the TAX

You seem to be obsessed with taxes

Or should I actually write TAXES? What taxes do you refer to exactly? In many jurisdictions, you may not need to pay taxes on selling bitcoins, especially if bitcoins are not regulated there (just in case, it doesn't mean that Bitcoin is illegal in that jurisdiction). If it is not regulated, you can safely assume it as being your property, and property may not be taxed if you possessed it for some time (say, 3 years). In practice, you move your coins to a reputable exchange, convert them to fiat (dollars or euro), and withdraw the proceeds to your bank account. And that's pretty much all there's to it

Regulated or not, you have to pay taxes after having sold Bitcoin for local currency. I have personally looked into this matter when I was going to sell coins and withdraw to my bank account and yes I have to include Bitcoin in my income tax form. I think Bitcoin is subject to Capital Gains Tax but I am not an expert on this. However I am 101% positive that you have to pay tax when selling for local currency

I can tell you with certainty that this is not a universal practice

In some jurisdictions profits earned on currency exchange operations are not taxable, and its official. Further, if Bitcoin is treated like property (or property rights), you may look for tax exemption. Again, in many jurisdictions if you held some property for longer than one year (in some parts of the world longer than three years on expensive items like houses or apartments), you don't have to pay a capital gains tax. Technically, you still have to pay it but you receive a tax deduction which equals the price at which you sold this property, so effectively you don't pay this tax

If you have been selling Bitcoin and haven't reported anything to the tax agency I would suggest consulting a tax attorney or something before landing yourself in hot water

I don't need that. My tax service officially declared that they have nothing to do with Bitcoin

[jak3]

well I am only 18 right now, anyway I guess you should not take moving recessions so soon. I think if there is not bitcoin trader around you then why don't you become a bitcoin trader instead, as there are no one other so you can easily rule the market for a little time as long as any competitor pops out. spread the bitcoin awareness don't wait for the market make it yourself s this chances are rare

[Vikingr]

Can't really make a suggestion unless know the approximate amount or value of the bitcoins you are holding now, it will be very different if it's 3000 or 100 bitcoins, if it's something on the high-end I would say either some island country or a luxurious place in Canada or Australia, And both of them are friendly to  bitcoins, Otherwise Far east countries are both interesting tourist spots and friendly to bitcoins.

It is also a very good suggestion that if he will move to a country where the places will be more luxurious and the people on that countries are in the favor of bitcoin and the states will also not against bitcoin then it will be more better for him to live a beautiful life.

[Wendigo]

Singapore is the best choice if you want to live comfortable, tax free and very friendly to the immigrants, but of course you have to have money for life, good security and stability, and lots of entertainment there

What you mean by tax free?!
If you convert BTC or any other ctypto to FIAT you don't need to pay taxes there or what?!

I heard that switzerland has become a bitcoin friendly country.So you could settle there as its full of tourist spots.Or else,you could try an european country which provides tax exemption for bitcoins.

Which one would that be?!
Once you convert BTC or any crypto fo FIAT you need to pay the TAX

You seem to be obsessed with taxes

Or should I actually write TAXES? What taxes do you refer to exactly? In many jurisdictions, you may not need to pay taxes on selling bitcoins, especially if bitcoins are not regulated there (just in case, it doesn't mean that Bitcoin is illegal in that jurisdiction). If it is not regulated, you can safely assume it as being your property, and property may not be taxed if you possessed it for some time (say, 3 years). In practice, you move your coins to a reputable exchange, convert them to fiat (dollars or euro), and withdraw the proceeds to your bank account. And that's pretty much all there's to it

Regulated or not, you have to pay taxes after having sold Bitcoin for local currency. I have personally looked into this matter when I was going to sell coins and withdraw to my bank account and yes I have to include Bitcoin in my income tax form. I think Bitcoin is subject to Capital Gains Tax but I am not an expert on this. However I am 101% positive that you have to pay tax when selling for local currency

I can tell you with certainty that this is not a universal practice

In some jurisdictions profits earned on currency exchange operations are not taxable, and its official. Further, if Bitcoin is treated like property (or property rights), you may look for tax exemption. Again, in many jurisdictions if you held some property for longer than one year (in some parts of the world longer than three years on expensive items like houses or apartments), you don't have to pay a capital gains tax. Technically, you still have to pay it but you receive a tax deduction which equals the price at which you sold this property, so effectively you don't pay this tax

If you have been selling Bitcoin and haven't reported anything to the tax agency I would suggest consulting a tax attorney or something before landing yourself in hot water

I don't need that. My tax service officially declared that they have nothing to do with Bitcoin

Which jurisdictions are that? Bitcoin is not regulated here but I found out that it is taxable because they added an addendum to the tax law for Bitcoin particularly and that change wasn't officially declared either.

[sonicwave]

well I am only 18 right now, anyway I guess you should not take moving recessions so soon. I think if there is not bitcoin trader around you then why don't you become a bitcoin trader instead, as there are no one other so you can easily rule the market for a little time as long as any competitor pops out. spread the bitcoin awareness don't wait for the market make it yourself s this chances are rare

The future of Bitcoin depends on the users themselves, that is, from us. Since to date Bitcoin is an object of speculation, and only a speculative market can raise it, you need to think about a more realistic future. Namely, the implementation of Bitcoin. Only then can we have guarantees even in the legal sense.

[darkangel11]

well I am only 18 right now, anyway I guess you should not take moving recessions so soon. I think if there is not bitcoin trader around you then why don't you become a bitcoin trader instead, as there are no one other so you can easily rule the market for a little time as long as any competitor pops out. spread the bitcoin awareness don't wait for the market make it yourself s this chances are rare

Not a bad idea. I'm living in an area where there are no traders and most people haven't heard of cryptocurrencies. It's not a bad idea to put myself on the map and wait for them to start coming like moths to a flame once bitcoin goes up some more. With $5000 prices no media outlet will remain silent about it, it's already on the news and people are baffled. "we thought this was a pyramid back in 2013, hasn't it collapsed yet?"

[taxmanmt5]

well I am only 18 right now, anyway I guess you should not take moving recessions so soon. I think if there is not bitcoin trader around you then why don't you become a bitcoin trader instead, as there are no one other so you can easily rule the market for a little time as long as any competitor pops out. spread the bitcoin awareness don't wait for the market make it yourself s this chances are rare

The future of Bitcoin depends on the users themselves, that is, from us. Since to date Bitcoin is an object of speculation, and only a speculative market can raise it, you need to think about a more realistic future. Namely, the implementation of Bitcoin. Only then can we have guarantees even in the legal sense.

Lets not forget that the first time most people heard Bitcoin it was mixed with either the single criminal laundering a large amount of money and being arrested or the entire Silk Road mess, basically the same thing.  Let's tow the line and make sure that we give the government fewer reasons, not more reasons, to push Bitcoin away.
 

[Lancusters]

well I am only 18 right now, anyway I guess you should not take moving recessions so soon. I think if there is not bitcoin trader around you then why don't you become a bitcoin trader instead, as there are no one other so you can easily rule the market for a little time as long as any competitor pops out. spread the bitcoin awareness don't wait for the market make it yourself s this chances are rare

Not a bad idea. I'm living in an area where there are no traders and most people haven't heard of cryptocurrencies. It's not a bad idea to put myself on the map and wait for them to start coming like moths to a flame once bitcoin goes up some more. With $5000 prices no media outlet will remain silent about it, it's already on the news and people are baffled. "we thought this was a pyramid back in 2013, hasn't it collapsed yet?"

You will have to wait a very long time. If you are around nobody knows what bitcoin is, then your services for a very long time anyone don't will need. Probably better to start with what teach people how to make bitcoins, and then everything else.

[DOGE12321]

Come over to Australia!!

It's is amazing over here. Weather is great. Life is peaceful. Jobs are plentiful. And it is Bitcoin-friendly. The one problem that you may face is the housing market, especially in Sydney and Melbourne. It is over 1 million for a 2 bedroom house in a nice and tranquil area. But other than that, it is great over here.

[czvezda]

I wouldn't want to be some rich white guy waving wealth around in some of these south east asian countries, you hear lots of stories about some white guy 'falling' out of balconies in hotels. And thats just the police..

[revans]

Must have been a huge fortune. I will advise you move to South Korea. So far so good, this is the best bitcoin friendly country. Infact, there exchange rate is higher than the global world. Setup something for yourself, invest and not just rely on the value of bitcoin and live a good life. I am sure you will love it there. Japan is another good place. Nevertheless, if you just want to rely on what you have presently, like a retirement stuff, just move to an island and enjoy yourself till papa calls!