Best country to cash out few mil of USD crypto?

[Fullbear2222]

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

[Cryptomultiplier]

I totally agree on this because it was one of the first things  king Charles III implemented as per regards the acceptance of cryptocurrencies for payments but it was under or going to be regulated by the SEC.
Am glad you can attest to the brilliance in accepting cryptocurrency for payments and transactions because it is the future that is yet to be suitably accepted.

Many people still don't talk about it because London has less number of crypto users as compared to the U.S.

[Crypto Library]

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-

[bayu7adi]

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.

[Captain Corporate]

Seems like the swiss doesn't really care about where or how you got your money, I know a guy who cashed out 22 million in a swiss bank, all his sales from crypto and he just.. kept on living? I mean he did filled out a paperwork at the bank for that, but that's about it, nothing really happened to him at all and nobody cared. As long as you pay your taxes, they do not really care all that much about where the money came from, and not like its a secret, its crypto, it came directly from a crypto exchange, its all notified to everywhere, someone had btc, sold it, and withdrew it from the exchange to the bank, whats the secret? So the government said as long as you got that tax, you are fine buddy and let him be.

[Mate2237]

For I don't know which of the above mentioned countries is cryptocurrency friendly but I will take  UK though I am not taking it because of the op compliment of the region but base on statistics. And I don't know if everything is simple to use over there as the op is saying, I have not been to any of those countries so I can't have too much input in them.
But from afar London is cryptocurrency friendly than USA because since when I have started this journey, I have not really heard of uk against Bitcoin or cryptocurrency but I have heard a lot from USA.

And I don't know if because of the difference in their uses of the technology.

[famososMuertos]

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.

It is not as easy as it seems, the moment you "move" to Fiat you adhere to the rules of that country and depending on your nationality, it does not matter where you make that change you pay taxes in your country of origin.
On the other hand, "landing" with money in El Salvador, if you are not going to make investments in that country, you will have to pay a fixed +% transfer rate, they have double payment of fees, then pay the intermediary bank, finally and depending on where you sent that money, the respective rates.

And it's not that you're going to get a banner saying be careful, you can't make those Swift transfers, or we don't receive deposits, first they collect their premiums and then when you're in a conventional bank, well, it's that the laws and notifications appear.

[Winterfrost]

I totally agree on this because it was one of the first things  king Charles III implemented as per regards the acceptance of cryptocurrencies for payments but it was under or going to be regulated by the SEC.
Am glad you can attest to the brilliance in accepting cryptocurrency for payments and transactions because it is the future that is yet to be suitably accepted.

Many people still don't talk about it because London has less number of crypto users as compared to the U.S.

I disagree with you on this. UK is the country you can earn more but the expenses are high as well. If you earn high and spend high then what is the importance of earning of high when it will all go into expenses? If you live your country to UK the only way you can save from your earnings is by limiting yourself to comfort. Firstly you can be squatting for some time so you get to share the bills with your roomies. Also, you will reduce the amount you spend on food, This may cause you not to eat good foods often since you ate managing.

[goaldigger]

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

Dubai might be a better place and a safer place to cash out and I’m sure you can do P2P there because more people are already into cryptocurrency and its legal there. As long as your fund is came from a good source and not being laundered you can just easily cash out that money. I wish to have this kind of problem as well but for now I have to do my best to at least own 1BTC.

[serveria.com]

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 need to watch out as in some (most cases) the place where you cash out doesn't matter. It's your tax residency that matters. In some cases (like with US citizens if I'm not mistaken) the only way to get rid of it is to surrender your passport and become a citizen of another country. Although in some cases even this is not possible.

[panganib999]

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.

Just cause they are crypto friendly doesn't mean the tax department's not going to be on their asses. They may not bat an eye while it's still crypto but soon as you start converting them in legal tender they'd be hot on your tail, as in the case with a couple personalities in the past.

El Salvador doesn't seem that great either as the country to cash your crypto earnings, for the most part, yes, they have crypto access that allows you to use your crypto willy-nilly but at the same time, i don't think they have the financial capability to actually support a thousand whales cashing out their money on the daily, and not spending it in the country's internal economy mind you.

Look elsewhere, the money's gotta be kept still after you convert it into crypto Switzerland is a good choice, French I've heard great things about. Philippines should be a good country too because of less strict laws and a pretty indifferent outlook at crypto.

[SATWAT]

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

Dubai might be a better place and a safer place to cash out and I’m sure you can do P2P there because more people are already into cryptocurrency and its legal there. As long as your fund is came from a good source and not being laundered you can just easily cash out that money. I wish to have this kind of problem as well but for now I have to do my best to at least own 1BTC.

In last few years we are having good changes in Gulf region which are bringing soft policies for the common peoples just because of this now for starting business and having cash-out of crypto related things are really working here like Dubai and Qatar are best places with security is also never been issue here.
We are going to have more development in coming years which will increase use of crypto, and also we will be able to have more improved policies for the crypto users in these countries so for me doing this all in Europe or USA is not ideal, but these are surely the best countries where you can do cashout and other stuffs.

[hatshepsut93]

By cashing out you mean settling down to live in that country? A few million dollars doesn't really sound like a lot with the current costs of living in Western countries. I would look into Eastern Europe and a great compromise between costs of living and comfort/security/development. So countries like Poland, Czechia, Slovakia, Baltic countries. I don't think you need to look specifically for a "crypto-friendly" country if you plan to cash out your coins - all you need is one bank that won't have problem with a large deposit coming from a crypto exchange.

[joniboini]

We are going to have more development in coming years which will increase use of crypto, and also we will be able to have more improved policies for the crypto users in these countries so for me doing this all in Europe or USA is not ideal, but these are surely the best countries where you can do cashout and other stuffs.

What kind of development are you referring to? How would it impact crypto users who make a ton of money from trading etc? Is tax not a problem at all? I never cashed out that much money, but I'd argue that cashing out regularly for a small amount is probably better regardless of where you are, unless you are obligated to pay tax for how much crypto you own. In my country, for example, my crypto is taxed after I make trades or liquidate it to fiat, so cashing a million dollars in one go is going to be a headache. CMIIW.

[retreat]

Someone who wants to cash out crypto worth several million can do so in countries that are friendly to crypto trading, and that could be the UK, US, Malta, or the Cayman Islands. Each country may have different regulations regarding crypto trading and individuals must comply with the regulations that apply there. However, if we talk about taxes, maybe Malta or the Cayman Islands could be the best place to cash out crypto with lower taxes and more guaranteed privacy compared to other crypto friendly countries.

[Yamane_Keto]

Any country that considers Bitcoin a legal currency, has low taxes, a stable local currency price, and through which you can convert this currency into dollars and send it to your bank account, or living in that country is considered an ideal place.
Taking these factors, we will exclude many countries such as El Salvador, Germany, Monaco, Bermuda. The available options will be Dubai, Portugal, Malta, Australia. Then you need to search for each country and choose the best suitable for you, which may not be suitable for everyone.

[MusaMohamed]

Any country that considers Bitcoin a legal currency, has low taxes, a stable local currency price, and through which you can convert this currency into dollars and send it to your bank account, or living in that country is considered an ideal place.
Taking these factors, we will exclude many countries such as El Salvador, Germany, Monaco, Bermuda. The available options will be Dubai, Portugal, Malta, Australia. Then you need to search for each country and choose the best suitable for you, which may not be suitable for everyone.

I agree about Dubai because they don't have strict taxation policy but how about Portugal, Australia which I believe they belong to developed countries and already have strict policies on taxation. I am unsure about Malta but maybe not big different than Portugal and Australia.

I don't think it is coincidence why many Bitcoin billionaires left their home-land nations and live in Dubai. They came here not simply to enjoy their rich life but also with some more friendly policies on taxation.

Dubai and Middle East are also a hub, paradise of cryptocurrency companies and blockchain events too.

The World’s Biggest Private Tax Havens

[avikz]

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 is probably El Salvador or Singapore. I know Singapore has very business friendly policies. Please check the immigration rule to find out how much money you can take out from Singapore. It is the world's costliest country so the amount should be higher than anywhere else. There are multiple crypto exchanges operating from that country so it will be great if you can get some contacts over there and possibly ask for a better pricing than the market one. You can also think of Dubai because registeredding a business in Dubai is very easy and it takes less than a week. You would need such credentials before you can bring millions of dollars in your own country. There are multiple ways but it will be best if you can have someone providing you legal assistance.

[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).

[Dr.Bitcoin_Strange]

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.