Best country to cash out few mil of USD crypto?

[takuma sato]

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-

Such list would be great to have if it included a column that said how strict they are with source of funds. Just because a country has very low taxes doesn't mean is the best. Example, you show up with signature campaign gains from years ago, but you lack some data, it's easy to prove those things. Perhaps you got paid in a casino website that no longer exists, and now you cannot prove this, etc. A country that will give you solutions and will let you use your money would be the most interest part, rather than if you are paying this or that amount.

Does anyone have any experience leading with European countries and their private banking sector when it comes to this? There's a ton of money with a ton of legal earned people that wants to cash out some BTC and diversify on real state and so on but since it's so difficult there's no point in cashing out (and thus they miss on getting any taxes from that, the problem is you can't do anything with that BTC so it's all a waste of money for no reason)

[chigo]

Before you decide to go on holiday or live in a country, you must first find out about the rules from the smallest to the heaviest in that country, lest you want to spend millions of dollars in crypto but end up not being able to because of regulations or the laws regarding tax or finance in that country must all be taken into consideration and in my opinion European countries have good regulations regarding crypto.

[Smartvirus]

There once existed a thread that discussed about having some of the big ballers on the forum and am referring to The Sceptical Chymist in this regard, having affiliation with a mixer that paid good money to maybe, pick out a country where they can live like kings with what they earned from the mixer and possibly some investments of theirs.
I see this thread to be some worth related and I don’t think you would do very well in any nation that pays taxe. Obviously, you wouldn’t have the opportunity to lavish your money in the ways that you would want to in nations that don’t.
Like there are certain race cars you just can’t drive due to the bad road. You might be confined to trucks and land rovers.

Else, Africa might be the place for you. Just adjust to the weather condition, be cool with the people and you would do okay. Besides, it’s got market for investments of all kind.

[Don Pedro Dinero]

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

In Spain there are non-kyc bitcoin atms that allow you to cash out up to €1,000 per day. They used to have the option of cashing out up to €10,000 per day for non spanish residents but I don't know wether that has changed. So if you go on holiday you can take advantage of this opportunity to cash out some.

[peter0425]

Before you decide to go on holiday or live in a country, you must first find out about the rules from the smallest to the heaviest in that country, lest you want to spend millions of dollars in crypto but end up not being able to because of regulations or the laws regarding tax or finance in that country must all be taken into consideration and in my opinion European countries have good regulations regarding crypto.

In my opinion, america is probably where you shouldn’t be using crypto as they have implemented stick regulations and tax laws. In europe, I am not that familiar but I have not heard anything that is drastic in their countries.

Meanwhile in Asia. It’s like the other end of the spectrum. Some countries totally are against bitcoin while some are just neutral and some fully accept and support bitcoin in theirs. Just look for those countries.

[takuma sato]

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

In Spain there are non-kyc bitcoin atms that allow you to cash out up to €1,000 per day. They used to have the option of cashing out up to €10,000 per day for non spanish residents but I don't know wether that has changed. So if you go on holiday you can take advantage of this opportunity to cash out some.

All these dodgy ATM companies may claim that they don't require KYC but using a bitcoin ATM implies a lack of privacy where you are basically being kyc'd indirectly if not directly but undisclosed. You are trusting some proprietary software inside the machine to begin with, then you are being recorded by the company which may or not may keep records for an unknown amount of time irrespective of what is advertised. There is also the problem of cameras everywhere which allows for profiling of bitcoin users.

Any spot that is advertised as a bitcoin exchange spot is poor opsec by those that visit it. The only way to get cash safely is that you know someone you can trust and exchange it in person. This also has the risk that the person you trust now betrays you eventualy or is compromised and finds you as a bitcoin trading contact. There's always risks implied here.

[btc78]

I am pretty sure that anywhere here in the world, whatever country you go to they will be alarmed to see you cashing out millions of dollars from nowhere. Especially if you are only a foreigner. I am not sure about the level of friendliness offered by Monaco to cryptocurrency but there’s no income tax in Monaco so maybe that is where it’s safe to do so.

[Iranus]

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

In Spain there are non-kyc bitcoin atms that allow you to cash out up to €1,000 per day. They used to have the option of cashing out up to €10,000 per day for non spanish residents but I don't know wether that has changed. So if you go on holiday you can take advantage of this opportunity to cash out some.

All these dodgy ATM companies may claim that they don't require KYC but using a bitcoin ATM implies a lack of privacy where you are basically being kyc'd indirectly if not directly but undisclosed. You are trusting some proprietary software inside the machine to begin with, then you are being recorded by the company which may or not may keep records for an unknown amount of time irrespective of what is advertised. There is also the problem of cameras everywhere which allows for profiling of bitcoin users.

Any spot that is advertised as a bitcoin exchange spot is poor opsec by those that visit it. The only way to get cash safely is that you know someone you can trust and exchange it in person. This also has the risk that the person you trust now betrays you eventualy or is compromised and finds you as a bitcoin trading contact. There's always risks implied here.

As long as we use bitcoin in public places, our privacy will definitely be threatened, and especially bitcoin ATMs, I agree with you on that. Maybe they won't force us to do KYC before trading, but they most likely have installed tracking devices around under the pretext of ensuring security for ATMs, but that will invade our privacy. 

In general, any solution will have certain risks and we should improvise depending on the situation and choose the method that we feel is safest. Personally, I'm also looking for a way to cash out without being noticed by the government, and I'm also thinking about transacting directly with some people I trust instead of using ATMs or using P2P on exchanges.

[Maus0728]

Dude, you're borderline asking us to launder money OP, there's no way that you'd be asking for the best place to cash out millions of dollars if you won't be evading taxes. In good conscience I don't think it's right for me to do something like recommending you a place. I hope that you're not really laundering though and that you just want to make sure that you're getting the most out of all your money.

I am pretty sure that anywhere here in the world, whatever country you go to they will be alarmed to see you cashing out millions of dollars from nowhere. Especially if you are only a foreigner. I am not sure about the level of friendliness offered by Monaco to cryptocurrency but there’s no income tax in Monaco so maybe that is where it’s safe to do so.

There are countries out there that would not bat an eye or turn a blind eye if you pay them handsomely, there's a reason why shell companies exist in a lot of those tax free countries.

[Mrbluntzy]

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.

Am not aware that it is a crypto friendly country, if it is as you have said it and just as OP too, then it is a good advantage for their citizens who are fully into cryptocurrency. Some people are in a country where crypto is highly regulated or even ban by the government.

[God bless u]

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 that's the perfect country to cash out your money as it would be really easy for you to do so. If you'll go into the other countries of Europe you'll get some difficulties and backslashes while taking your money out but in the past few years I've seen the UK has responded very positively to the crypto currencies.

So they'll make it easier for you to take the money out at a good fees and in limited time also without many complications.

[arwin100]

I am pretty sure that anywhere here in the world, whatever country you go to they will be alarmed to see you cashing out millions of dollars from nowhere. Especially if you are only a foreigner. I am not sure about the level of friendliness offered by Monaco to cryptocurrency but there’s no income tax in Monaco so maybe that is where it’s safe to do so.

For sure they would think that there's illegal activities happening and provably there would be an counteraction happened especially banks are fully aware about those possible money laundering schemes transactions. And to avoid getting flagged much better if they don't do a one time big transaction. Much better separate it on many accounts so that he can successfully pull out those huge funds and enjoy it in real life. For sure there are people especially our sibling and relatives can help us regarding on this matter since we can use their bank accounts or anything they can participate. Also much better if they avoid doing those huge transaction outside of the country since maybe they will get an issue there. Just stay on their country since there's lots of ways they can cash out their funds.

[Coin_trader]

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 that's the perfect country to cash out your money as it would be really easy for you to do so. If you'll go into the other countries of Europe you'll get some difficulties and backslashes while taking your money out but in the past few years I've seen the UK has responded very positively to the crypto currencies.

So they'll make it easier for you to take the money out at a good fees and in limited time also without many complications.

UK good for cashout of $ from crypto? Even my country which belong to a 3rd world country is still so strict when it comes to a huge money entering on bank account without any supporting documents to prove the amount.

I’m uncertain how UK banking system works on screening fiat transfers on their customers bank account but I doubt they are really that free especially that the amount is 1M$ from crypto transaction.

You should at least provide a source of income such as business or work to justify this transfer.

[Peanutswar]

Best country to cash out less questions asked ?
~

My country seems neutral on this subject because as long as they saw your account has an active and large transaction seems they didnt care too much but if you are just a newly created account with their platform with no KYC possible your account will now get tagged. In my country, we are using a third-party application which is regulated with the banks that are supported USDT but the transaction fees are too high depending on the amount you deposited which is quite painful in our side too.

[tsaroz]

Best country to cash out less questions asked ?
~

My country seems neutral on this subject because as long as they saw your account has an active and large transaction seems they didnt care too much but if you are just a newly created account with their platform with no KYC possible your account will now get tagged. In my country, we are using a third-party application which is regulated with the banks that are supported USDT but the transaction fees are too high depending on the amount you deposited which is quite painful in our side too.

A few of the crypto millionaires I know have moved to Dubai for a safer environment to use crypto, cashout it, invest in business and real estate. Dubai has one of the lowest tax and very chill regulations that makes it an ideal place to live with crypto and if you are willing to stay a bit away from city center, Dubai is not as expensive place as many people believe. Dubai itself is a Emirate/country within the UAE and has its own laws. Other emirates are also trying to copy Dubai to bring more expats.
Crypto people also move to bangkok as crypto is widely accepted there and the place provides more fun for less money.

[kotajikikox]

I've seen the UK has responded very positively to the crypto currencies.

They probably just respond positively to crypto because they are being paid and being updated. If you want to be discreet about your crypto withdrawal, most governments will be alarmed. It’s just a matter of will they accept crypto as a source of your money? I think if you comply to their laws then they will definitely react positively to you.

[Fortify]

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

"Many people drive there without driving licence" - no, they don't. I have no idea where you get your information from but it's consistently wrong and makes you look quite foolish. The UK has fairly robust anti money laundering laws, comparable in standards to the US or rest of Europe. You might get lucky and be able to evade detection on the first hundred thousand, but eventually you'll start throwing up red flags in the system and the relevant government agencies will start investigating you. If you are able to get it converted, then it's probably easier to flow around the rest of the world, as I would be more suspicious of restrictions that Dubai banks my put on individuals and their ability to move money once it's been converted. The answer is likely to be changing every year.

[wxxyrqa]

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

"Many people drive there without driving licence" - no, they don't. I have no idea where you get your information from but it's consistently wrong and makes you look quite foolish. The UK has fairly robust anti money laundering laws, comparable in standards to the US or rest of Europe. You might get lucky and be able to evade detection on the first hundred thousand, but eventually you'll start throwing up red flags in the system and the relevant government agencies will start investigating you. If you are able to get it converted, then it's probably easier to flow around the rest of the world, as I would be more suspicious of restrictions that Dubai banks my put on individuals and their ability to move money once it's been converted. The answer is likely to be changing every year.

As they say, it’s good where we are not. Some people tell stories, while others spread them. It is a pity that because of this it is very difficult to find suitable information for yourself to take into account regarding cashing out funds. Is it possible to use a European bank online if national banks have problems even with P2P.

[Don Pedro Dinero]

All these dodgy ATM companies may claim that they don't require KYC but using a bitcoin ATM implies a lack of privacy where you are basically being kyc'd indirectly if not directly but undisclosed.

Well, on the one hand there are the paranoid and on the other hand there are those of us who have been using bitcoin ATMs for years without any problem.

You are trusting some proprietary software inside the machine to begin with, then you are being recorded by the company which may or not may keep records for an unknown amount of time irrespective of what is advertised.

No, I am trusting the law: 

Regulation (EU) 2016/679 of the European Parliament and of the Council of 27 April 2016 on the protection of natural persons with regard to the processing of personal data and on the free movement of such data, and repealing Directive 95/46/EC (General Data Protection Regulation) (Text with EEA relevance)

It requires companies to delete the recordings within a month at most, and if they were to use them later they could not be admitted in court because they would be null and void. And the company that does what you say could face fines of up to €40,000 if it is a minor infringement, and up to €300,000 if it is a serious one. So you go on with your paranoia and I will continue to use bitcoin ATMs.

[fuguebtc]

It's interesting to see people discussing how to cash out large amounts of money from crypto investments, which means there will be a lot of crypto millionaires born from this forum.

Personally, I think, if we own a bunch of crypto assets worth millions of dollars, why should we convert them all to fiat and withdraw them ? Why don't we keep them in bitcoin and store them in a non-custodial wallet and cash out only the exact amount we need for our outside plans? No matter what country we are in, if we suddenly withdraw a large amount of money, sooner or later we will be noticed and suspected by banks and the government . So don't try to do anything to attract their attention , instead withdraw money slowly to avoid being tracked.