Best country to cash out few mil of USD crypto?

[serveria.com]

Come to Nigeria and cash out your millions of dollars in crypto without questions ask, but then, you may likely not want to cash out every thing at once to avoid being invited by the bank to state what you do for a living, this is probably nothing, but just to be on the safe side, it's better to avoid anything that will warrant you having to face the banks to answer some silly questions.

And I think as an international investor you are or will be, that's another good advantage, authorities in Nigeria seems to respect international investors much more than their own citizens, an international investor may cash out millions here in nigeria and the authorities will say nothing, or do nothing about it, probably because they assume that as an international person that you are, you must have business in your country paying you good amount, but for a Nigerian citizen, authorities will or may invite you and will want to know how you came about such amount of money (if it's really big).

What about safety? If a foreigner arrives to Nigeria and cashes out decent amount what are his chances of staying alive (if he won't bring his own private army with him)? Then, you mentioned that banks may start asking questions if you start to cash out big amounts. So it means you will be forced to keep your funds in your account in a local bank? How safe is that? Are bank accounts secured/guaranteed by the state? 

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[Fivestar4everMVP]

Come to Nigeria and cash out your millions of dollars in crypto without questions ask, but then, you may likely not want to cash out every thing at once to avoid being invited by the bank to state what you do for a living, this is probably nothing, but just to be on the safe side, it's better to avoid anything that will warrant you having to face the banks to answer some silly questions.

And I think as an international investor you are or will be, that's another good advantage, authorities in Nigeria seems to respect international investors much more than their own citizens, an international investor may cash out millions here in nigeria and the authorities will say nothing, or do nothing about it, probably because they assume that as an international person that you are, you must have business in your country paying you good amount, but for a Nigerian citizen, authorities will or may invite you and will want to know how you came about such amount of money (if it's really big).

What about safety? If a foreigner arrives to Nigeria and cashes out decent amount what are his chances of staying alive (if he won't bring his own private army with him)? Then, you mentioned that banks may start asking questions if you start to cash out big amounts. So it means you will be forced to keep your funds in your account in a local bank? How safe is that? Are bank accounts secured/guaranteed by the state? 

To your first question, there are alot of Billionaires in Nigeria without security, and they are doing very well, alot of very rich foreigners are living and working in various places and companies here in nigeria, live on exotic places and drive exotic cars, all this without any security guard going up and down with them.
What I will tell you is that, apart from economic problems and insecurity in some areas caused by economic hardship, Nigeria is still one of the safest country to live in, all you just gotta do is live a low key life, since yoh have the money, find a luxury and very quiet estate and live there like you dont exist, and you will be good, most rich men in Nigeria don't make noise  .

And to your second question, I think you are misunderstanding what I meant, by cashing out, I do not mean to withdraw all your money from the bank, I meant to withdraw money from crypto into your bank account.
And who said the banks will force a customer to keep his or her funds in their local bank account? I never said such, if you withdraw let's say, hundreds of millions of naira into your local bank account, and the bank said or did nothing, you are free to withdraw your money from the bank anytime and do with it what ever pleases you.

[wxa7115]

Best country to cash out less questions asked ?
It's UK. ? Specially London where everything is easy ?
Many people Even drive there without dl license it's quite relax place i heard that USA not easy place to cash out.
Can the Dubai or spain can better? I mean less taxes Also so i Open company and transfer crypto from exchangers

If you are going to withdraw that much money I am sorry to say to you that there is not really a country that will fit your criteria, as if you do not have a history of managing those amounts of money, it is perfectly normal for a bank to ask you where you got that money, after all even if that is your money your are using the services of the bank and if you are doing something wrong then they are going to be implicated.

So just accept that you will have to give explanations over that money and pay your taxes as well.

[so98nn]

El Salvador is indeed a haven for Bitcoin users to conduct any transactions, including withdrawing large amounts. There's no tax, even if you're a foreign investor residing in El Salvador. Nayib Bukele has truly turned El Salvador into a haven for Bitcoin users. Although I haven't personally visited there, several news reports on the legal adoption of Bitcoin in El Salvador confirm all of this.

As long as the crypto comes from money that doesn't violate the law, you are safe to withdraw. However, it can turn into a significant problem if the money you withdraw is proven to be from an illegal source.

I agree with the legality concerns of money. It matters a lot. If the amount is in millions then one can not assume they would just go to the center, and get their millions cashed out just like that. If you check out any banking system then the source of funding is always reported to central authorities against the SSN or whatever is the KYC document that is linked to the user's identity. This tells the Income Tax department whether to take any action against that transaction or if they see enough documentation for the same then they wouldn't even doubt us. I think El Salvador is the best shot for such heavy transactions.

If it is all about traveling then it's better to do the job in your hometown. You wouldn't be asked more questions in your local region rather than flying to another country and getting bombarded with a lot of questions. If your country accepts bitcoin but it is taxed, then it is even better. Just pay the taxes and live a happy life. 

[ZAINmalik75]

Best country to cash out less questions asked ?
It's UK. ? Specially London where everything is easy ?
Many people Even drive there without dl license it's quite relax place i heard that USA not easy place to cash out.
Can the Dubai or spain can better? I mean less taxes Also so i Open company and transfer crypto from exchangers

I don't think the best country to cash out 1 Million without getting asked is UK or the USA, especially the driving license statement seems a little fake because driving licenses are checked and drivers have to follow all driving signs otherwise big penalties are imposed on them. Many locals of my country have showed their views about how expensive those tickets are to pay. They say one ticket eats up enough money that is equal to one month's expenses of one guy back in Pakistan.

Which is around 100 pounds. Things are not cheap in both countries. And therefore I don't think they will ask you about cashing out 1 million of us dollars from crypto because for bigger countries have bigger banks and they can easily handle a few million dollars.
Now there remains only one question that, and the solution to that is the country should be crypto friendly otherwise they might block your bank accounts.

[Apocollapse]

I think you will not find an answer because you need to know someone that live in the country and very well know the system, tax, laws etc, not just relying on article or what you found on google. So, you need to break down to few countries that you think can meet your criteria and then you need to pay some fees to obtain the information from the local citizen.

[boyptc]

Just go to the countries that are crypto friendly and you'll have no problem about it if you're scared of the policies.

El Salvador and Central African Republic made it as a legal tender but my choice might be El Salvador. Luckily, I am in a country where things are fine and not making crypto on a hot topic.

Wait, this is a few mil like $500k? I'd avoid doing that in a single withdrawal.

[bounceback]

My country is not a cryptocurrency-friendly place, but citizens here usually cash out their coins more easily through P2P trade, and it has always been going very smoothly. For other countries that are not cryptocurrency-friendly, they could still use the p2p format on the exchange that is allowed in their country. Binance, Huabo, and MEXC have a p2p feature, and they can be used by anyone as long as the exchange is allowed in that country.

Best alternative ways cash out cryptocurrency assets trough P2P transaction but seems OP want to cash out trough Bank and country with less taxes fees, actually in my country have lower fees taxes of cryptocurrency transaction but I don't think have policy for foreigner allowed withdraw their cryptocurrency with my local exchange market. Friendly for OP looking for country with legal tender payment using cryptocurrency and cash out his fund there with less taxes fees. Seems for P2P transaction we make its trough our local community and there are selling or buying fund with other user come from the same country. Huge amount with P2P transaction will face difficult and cash out trough Bank I think best way looking for by OP.

[bluebit25]

Imo, it does not depend on the country but on whether the service you are using can help you liquidate that amount of money. In the p2p crypto field that I know of, there are even individuals trading tens of millions $ is easy, but that doesn't mean it's without risks. As long as it's a partner you trust to trade with to help you liquidate crypto in the most convenient way, I've traveled to many countries in Asia, and interestingly, through some relationships, I can easily pay crypto for local fiat.

But I also agree that countries with leading economies have a more positive view of crypto, as most can accept transactions and have bank cooperation with a number of major services for convenience.

[safar1980]

I think that in Asia there is less control than in the US and Europe. Usually they choose countries like Singapore, where there are already cryptocurrency laws and blockchain projects are developing well. And the banking system in this country is also very good for such purposes.

[darkangel11]

When you consider moving, you have to also think about the difficulty of getting citizenship. When you visit another country, you still remain a citizen of the country you used to live and work in and that country will lay claim to all your profit. You can't move somewhere, cash out and return to your country like nothing with all the money. You need to legally move to another jurisdiction before you sell your bitcoin and some countries listed as crypto friendly make it very hard for people to do. For example, you can't easily get a citizenship in Switzerland. It takes years before they allow it.
Probably the easiest country to get to as a bitcoiner is El Salvador, but let's face it, it's a poor country and you may find it hard to accommodate. For an EU citizen I'd recommend Germany as it's very simple to migrate between EU states and you get 0% tax. If you're Hispanic, try El Salvador. It would be my second choice. Argentina is most likely going to become bitcoin friendly in a year or two.

If you live in the US consider moving to Canada. In the US capital gains tax is 37% and in Canada 33%. Also, in Canada you can exclude 50% of your capital gains as long as it's below a certain amount (at least $250k), so if you have a million to exchange, in the US you'll pay  37% out of a million, so $370k, but in Canada you'll pay 33% out of 750k and get 250k tax free, so only $247k in tax. You'll have to decide if that 123k is worth the trip for you. For me it would be.

[Bananington]

Just go to the countries that are crypto friendly and you'll have no problem about it if you're scared of the policies.

El Salvador and Central African Republic made it as a legal tender but my choice might be El Salvador. Luckily, I am in a country where things are fine and not making crypto on a hot topic.

Wait, this is a few mil like $500k? I'd avoid doing that in a single withdrawal.

These countries so mentioned, that is El Salvador and CAR accept BTC or cryptocurrency as legal tender and I think they may not have as much stricter regulatory policies like England wherein it is SEC regulated and taxed and the law guiding the use of cryptocurrency can be reversed anytime.
I agree that England ranks among the best countries currently using cryptocurrencies, although it has lesser users as compared to the U.S., I don't think the government pokes their nose into transactions and payments made using crypto, as much as the U.S., which is trying to control and claim to avert terror confirmed from completed transactions.

[takuma sato]

The most important part is the no questions asked part. In this sense, you asked about Spain, and I wouldn't recommend that, beside the taxes which will be around 30% + the wealth in most of the country, you are going to be asked all sort of questions.

Alot of people think because a country has lower taxes, it will not ask about things. For instance, Andorra is often cited as a tax haven for people that want to live near the mediterranean, but after the 00's, they ask all sort of questions, there is no bank privacy anymore, they will ask as much as your average EU country.

Im not sure how Switzerland works these days. Back then, if you were VIP client, they would give you a pass and bank your money, nowadays, it's probably harder, they will ask about things, to what extent im not sure.

So it sucks but you may be forced to go to some dodgy place like Dubai, where supposedly, you aren't asked much, but I've heard they are starting to make that difficult as well.

You will also need some sort of income or be forced to do some investment within the country in order to achieve passive tax residence. Some people think it's as easy as hoping in the country and that's it. This may be the case only for super wealthy clients but not for a few $million.

[serveria.com]

The most important part is the no questions asked part. In this sense, you asked about Spain, and I wouldn't recommend that, beside the taxes which will be around 30% + the wealth in most of the country, you are going to be asked all sort of questions.

Alot of people think because a country has lower taxes, it will not ask about things. For instance, Andorra is often cited as a tax haven for people that want to live near the mediterranean, but after the 00's, they ask all sort of questions, there is no bank privacy anymore, they will ask as much as your average EU country.

Im not sure how Switzerland works these days. Back then, if you were VIP client, they would give you a pass and bank your money, nowadays, it's probably harder, they will ask about things, to what extent im not sure.

So it sucks but you may be forced to go to some dodgy place like Dubai, where supposedly, you aren't asked much, but I've heard they are starting to make that difficult as well.

You will also need some sort of income or be forced to do some investment within the country in order to achieve passive tax residence. Some people think it's as easy as hoping in the country and that's it. This may be the case only for super wealthy clients but not for a few $million.

I saw a video on TikTok, where an American guy complained he was refused an account by most of the Swiss banks (big ones Credit Suisse etc). The reason is simple: because he is American. They were very nice and all but once they found out he was American, they said sorry we don't want your business. I guess most exchanges, banks etc are afraid to do business with American citizens, because of possible penalties, sanctions etc. The biggest weapon in this war is dollar. Losing access to USD transactions is a nightmare to most.

[wxa7115]

I saw a video on TikTok, where an American guy complained he was refused an account by most of the Swiss banks (big ones Credit Suisse etc). The reason is simple: because he is American. They were very nice and all but once they found out he was American, they said sorry we don't want your business. I guess most exchanges, banks etc are afraid to do business with American citizens, because of possible penalties, sanctions etc. The biggest weapon in this war is dollar. Losing access to USD transactions is a nightmare to most.

For them no amount of money makes it worth it to deal with all the regulations put in place by the US government, it is because of this there are several wealthy people out there that not only are leaving the US, they are also renouncing their citizenship so they can get access to those services.

However at the end we must never forget that even if holding bitcoin offers some level of privacy, once you want to move some of that wealth to fiat you must not expect to retain any privacy at all.

[bounceback]

I think you will not find an answer because you need to know someone that live in the country and very well know the system, tax, laws etc, not just relying on article or what you found on google. So, you need to break down to few countries that you think can meet your criteria and then you need to pay some fees to obtain the information from the local citizen.

Difficult for OP looking for other country withdrawing his cryptocurrency fund, if want withdraw trough other local currency exchange market he need document ID required before withdrawing fund on all exchange local currency. Seems for OP need use third party or looking with some one come from the same country and sell to them trough P2P on Binance exchange. Looking for information detail for all countries seems can't help yet because transaction on local other exchange market need submit KYC and I don't think any foreigner available for verifying their document with other country from.

May I know how much taxes have to pay by OP when withdrawing cryptocurrency fund to be fiat or cash money in your country? are there above 1% or under 1% all of your assets?

[0t3p0t]

Best country to cash out less questions asked ?
It's UK. ? Specially London where everything is easy ?
Many people Even drive there without dl license it's quite relax place i heard that USA not easy place to cash out.
Can the Dubai or spain can better? I mean less taxes Also so i Open company and transfer crypto from exchangers

It's seems another similar topic of this Best Crypto friendly country?.

Any way, I still want to say that before choosing the best country to withdraw a few million USD Crypto, you need to see if your fund is actually coming from a legitimate source. If the fund comes from an illegal source, then I think that most of the countries where there is good rule of law are the worst countries for you to cash out that fund.
And if your fund is from a legitimate source then I would say initially you should choose those countries which have low or no tax on cryptocurrency and at the same time from the government rules and regulations to banks all are crypto-friendly. And if you get them in any first-world country then it will be best. Now if you want you can follow this table below-

I also have heard that El Salvador is one of the most cryptocurrency friendly country in the world. I can see posts here on the forum and on the internet talking about how convenient it is to transact crypto in this particular country. Unfortunately for us here in my country we've been taxed and regulated by central banks though still be able to transact thousands of dollars worth of crypto through remittances and banks but we'll make sure transactions were clean and not sketchy or suspicious or else your funds will be freezed. 😁

[Kelward]

El Salvador is indeed a haven for Bitcoin users to conduct any transactions, including withdrawing large amounts. There's no tax, even if you're a foreign investor residing in El Salvador. Nayib Bukele has truly turned El Salvador into a haven for Bitcoin users. Although I haven't personally visited there, several news reports on the legal adoption of Bitcoin in El Salvador confirm all of this.

As long as the crypto comes from money that doesn't violate the law, you are safe to withdraw. However, it can turn into a significant problem if the money you withdraw is proven to be from an illegal source.

I think that if we're discussing about best crypto friendly countries, that El Salvador, will be in the forefront, because I believe that they're the only country that has officially adopted Bitcoin, as a legal tender. Other countries and cities that are crypto friendly where you can conveniently cash out a huge amount of Bitcoin, will come second to a country that has full adoption of the cryptocurrency. Ofcourse the holder has to meet the legal requirements of the country to cash out the many Bitcoin.

I hope that my country Nigeria, will be more crypto friendly and allow it's banks to facilitate crypto transactions, because we have a lot of  Bitcoin holders in the country.

[Yaunfitda]

Best country to cash out less questions asked ?
It's UK. ? Specially London where everything is easy ?
Many people Even drive there without dl license it's quite relax place i heard that USA not easy place to cash out.
Can the Dubai or spain can better? I mean less taxes Also so i Open company and transfer crypto from exchangers

I think you should look for crypto friend countries and we I think someone already posted what country it is. And it seems that you are looking for EU based as you probably live there. But in any case that you are not, I will say look for Asian countries as well, specially South East Asian countries.

But the lessons here is that at least you know someone from countries that you are going to exchange a few mil of your USD in crypto.

We are talking big money here so you don't want to be scam or get some issues along the way. If you have someone that you know, you will be confident to make that transactions.

[leonair]

Best country to cash out less questions asked ?
It's UK. ? Specially London where everything is easy ?
Many people Even drive there without dl license it's quite relax place i heard that USA not easy place to cash out.
Can the Dubai or spain can better? I mean less taxes Also so i Open company and transfer crypto from exchangers

El Salvador is a best and cryoto Friday country specially Bitcoin friendly. There are over 200 Bitcoin ATMs in this country. And tuition fees are also accepted there through Bitcoin. And they use bitcoin as a local currency just like fiat money. So I think you can cash out bitcoins faster and easier in this country than in any other country. Bitcoin is legalized in many countries around the world, but services like El Salvador are not available in other countries with Bitcoin.