Can non residents take advantage of Germany position towards bitcoin?

[nelisky]

I know banks aren't forced to open accounts for non residents within the EU, even though EU citizens can move freely.

I also read that in Germany if you hold on to your coins for at least one year, the profit from selling them is tax exempt.

So I wonder... can a EU citizen that is not resident in Germany open a bank account in Germany, sell and deposit in said bank account taking advantage of the tax scenario described? When moving the money back to the residency country the EU double taxation prevention laws should prevent the local government from getting an extra cut, right?

Maybe even move to Germany for a while, but what would constitute "moving"? Renting a house there? Getting a job?

I've googled as much as I could but can't really understand how viable this course of action would be. Anyone out there has any insight on this matter?

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[giantdragon]

Maybe even move to Germany for a while, but what would constitute "moving"? Renting a house there? Getting a job?

Most countries have a legal definition of the "tax resident", which typically is a person who lived more than 180 days last year in this country. No matter if you own or rent property, work or sit on welfare here, it is all about time spent in this jurisdiction.

[nelisky]

Most countries have a legal definition of the "tax resident", which typically is a person who lived more than 180 days last year in this country. No matter if you own or rent property, work or sit on welfare here, it is all about time spent in this jurisdiction.

Having worked abroad (outside EU) for short periods of time I have experienced this, where even owning a house isn't enough to open a simple bank account. But since the EU has specific laws regarding their "common borders" I keep wondering what it would take. I could, in theory, move to any country within the EU and work there, regardless of living there or not. There should be no need to apply for full citizenship to accomplish this, but you may be completely right there, I could end up being taxed in my country of citizenship according to its laws regardless of where the income came from.

Which, for this particular case, sucks.

[fred1111]

You pay taxes in the country you officially live. And they do check where you live if you're wealthy.

[giantdragon]

I could end up being taxed in my country of citizenship according to its laws regardless of where the income came from.

Only two countries in the world tax their citizens living abroad: U.S. and Eritrea. Therefore a lot of wealthy Americans give up their citizenship.