Very helpful, thank you! If you invest into the crypto whilst you were a UK resident, won't this asset count as a UK asset, no matter when and where you sell it though?
Stupid idea. You’re better off keeping your BTC and just renting, much higher profits longer term than exchanging BTC for a property which will continue to depreciate against BTC.
@@SuperheroArmorychannel no it’s a great idea, as I’ll be loading up on BTC in the bear markets from profits whilst those that never cash out just sit and watch and their stack never increases
I'm planning to do that, I will leave Brazil next year, retire with crypto, buy an apartment, the tax here is 22%, with that money I will be able to afford an apartment in Dubai, cashout and live there.
Thanks for the video. But really, who wants to cash out of crypto ? Nobody in their right mind would sell their crypto. Just look at all the financial problems in the USA and Japan for example. I have zero confidence in the USD or other fiat currencies as a store of value. Fiat currencies are only for transactions, not for storing value like assets are. Crypto, gold, real estate, stocks, fine art, are all a store of value and should not be sold. Good that you mentioned swapping crypto for real estate. Asset to asset swaps are fine.
totally agree, but not everyone is accepting crypto as payment yet, so you might need to cash out in some cases but definitely keep your wealth in crypto
Yea trading bitcoin for property is really dumb. Do the opposite, trade your property for bitcoin. All property values will depreciate in relation to bitcoin forever.
@@animeaddict7434 well just use some crypto as collateral to take out loans Just like how billionaires live their lives They tell the banks that they have 100 million worth of assets put them up as collateral and then take like 100 million loan and invest that in places where they will make more money They also use that money to finance their lifestyle Edit: loans are not taxed
Until every business adopts crypto integration, there will always be a reason to convert to fiat. Cash is king as they say but yeah eventually people will use Kaspa for everything. The superior technology always wins
If you think simply leaving your country and setting up shop in Dubai lets you escape tax you are very wrong. Most countries will still expect you to pay capital gains on that crypto because the capital gain was made in that country. For example if you buy $,1000 of BTC in Australia and then a few years later it is worth $1 Million, you decide move to Dubai to cash in. Australia will still want their CGT. You need to move BEFORE you get rich. Dubai has an obligation to report you to your home country.
Thanks for sharing such valuable information! I need some advice: My OKX wallet holds some USDT, and I have the seed phrase. (air carpet target dish off jeans toilet sweet piano spoil fruit essay). What's the best way to send them to Binance?
Hello 👋 do we have to sell or transfer our crypto to a stable coin in the bull run and then move to UAE 🇦🇪 and follow your steps? Because if we sell in bull run then we will get tax in Canada 🇨🇦 or America 🇺🇸
Try to make video for Indian cuz India is literally the worst country in terms of tax system and overall living..That's why a large number of rich Indians are moving to Dubai...How can one become non-resident in India and move to Dubai.
If you stay in India for less than 180 days in a year, you will be automatically become a NRI, so global incomes are not taxed in India, just pay income tax for income generated in India alone. . But if you stay more than 180 days, as a resident Indian, you need to pay income tax for global income too.
True. No infrastructure water minimum lifestyle provided in more than 70% parts of the country, still high tax for the middle income and 30% for crypto! Unbelievable! Well at least we have Democracy 🇮🇳 thats the only good thing about India. If youre an indian stay less than 180 days there is No tax. So Indian govt is 50:50 theyre not all that bad.
No mention about Americans other than displaying the flag for a few seconds. You should have started right out of the gate with the disclaimer that this doesn't work for Americans or anyone else from a country that taxes world wide income regardless of where you live.
Hey tuomaskiv , really nice video ! I was wondering if I could help you with more Quality Editing in your videos and also make a highly engaging Thumbnail and also help you with the overall youtube strategy and growth ! Pls let me know what do you think ?
🇦🇪 Want to get set up in Dubai? Book a Free Consultation - www.genzoneconsulting.com/meetings/schedule-session/tk
Very helpful, thank you! If you invest into the crypto whilst you were a UK resident, won't this asset count as a UK asset, no matter when and where you sell it though?
Buy property in Dubai with crypto then you'll get golden visa in UAE. Simple solution.
Stupid idea. You’re better off keeping your BTC and just renting, much higher profits longer term than exchanging BTC for a property which will continue to depreciate against BTC.
@@SuperheroArmorychannel no it’s a great idea, as I’ll be loading up on BTC in the bear markets from profits whilst those that never cash out just sit and watch and their stack never increases
I'm planning to do that, I will leave Brazil next year, retire with crypto, buy an apartment, the tax here is 22%, with that money I will be able to afford an apartment in Dubai, cashout and live there.
U want to try living in the UK our tax is 40% 😢😂
Thanks for the video. But really, who wants to cash out of crypto ? Nobody in their right mind would sell their crypto. Just look at all the financial problems in the USA and Japan for example. I have zero confidence in the USD or other fiat currencies as a store of value. Fiat currencies are only for transactions, not for storing value like assets are. Crypto, gold, real estate, stocks, fine art, are all a store of value and should not be sold. Good that you mentioned swapping crypto for real estate. Asset to asset swaps are fine.
I second that, you don't sell the apex property for a worst one
totally agree, but not everyone is accepting crypto as payment yet, so you might need to cash out in some cases but definitely keep your wealth in crypto
Yea trading bitcoin for property is really dumb. Do the opposite, trade your property for bitcoin. All property values will depreciate in relation to bitcoin forever.
@@animeaddict7434 well just use some crypto as collateral to take out loans
Just like how billionaires live their lives
They tell the banks that they have 100 million worth of assets
put them up as collateral and then take like 100 million loan and invest that in places where they will make more money
They also use that money to finance their lifestyle
Edit: loans are not taxed
Until every business adopts crypto integration, there will always be a reason to convert to fiat. Cash is king as they say but yeah eventually people will use Kaspa for everything. The superior technology always wins
If you think simply leaving your country and setting up shop in Dubai lets you escape tax you are very wrong. Most countries will still expect you to pay capital gains on that crypto because the capital gain was made in that country. For example if you buy $,1000 of BTC in Australia and then a few years later it is worth $1 Million, you decide move to Dubai to cash in. Australia will still want their CGT. You need to move BEFORE you get rich. Dubai has an obligation to report you to your home country.
Maybe works that way in some countries, but not all.
And what if you are stateless?
Wow, Subscribed. Thanks.
Its tax free in Malaysia too but with greater secured ring fence, no worries
How is it tax free? and what is the secured ring fence? I have been thinking about moving to Malaysia, foreigners can buy property there apparently.
amazing, plan on doing this for myself
Amazing content tuomas thank you
Thanks for sharing such valuable information! I need some advice: My OKX wallet holds some USDT, and I have the seed phrase. (air carpet target dish off jeans toilet sweet piano spoil fruit essay). What's the best way to send them to Binance?
The problem with selling via P2P is that it can take forever if you want to sell a large amount of crypto.
Put your crypto as a collateral for a loan, and keep your crypto
I don’t think any of this will work for American citizens since we’re taxed on worldwide income including crypto.
Renounce your citizenship and don't come back lol
Do you need to be in UAE to set up company and become employee?
How do u cash out large amounts if most exchanges have limits to withdrawals?
I believe you need to stay 6 months in the UAE to keep the residence not 90 days you mentioned. But correct me if wrong.
it is 90 days but it's a bituanced, I made a vid on this
Hello 👋 do we have to sell or transfer our crypto to a stable coin in the bull run and then move to UAE 🇦🇪 and follow your steps? Because if we sell in bull run then we will get tax in Canada 🇨🇦 or America 🇺🇸
Don't sell until you have become non-resident in your Western country first to aoid beig taxed
Hey man, What kind of business do you own there in Dubai?
if i mine bitcoin and cash out the money am i good? or is there things i need to keep in mind?
How can i open account.
how about portugal ? i hear is a crypto friendli coutry
Which are good legal crypto trading platform in UAE?
Binance Rain
Try to make video for Indian cuz India is literally the worst country in terms of tax system and overall living..That's why a large number of rich Indians are moving to Dubai...How can one become non-resident in India and move to Dubai.
If you stay in India for less than 180 days in a year, you will be automatically become a NRI, so global incomes are not taxed in India, just pay income tax for income generated in India alone. . But if you stay more than 180 days, as a resident Indian, you need to pay income tax for global income too.
True. No infrastructure water minimum lifestyle provided in more than 70% parts of the country, still high tax for the middle income and 30% for crypto! Unbelievable! Well at least we have Democracy 🇮🇳 thats the only good thing about India. If youre an indian stay less than 180 days there is No tax. So Indian govt is 50:50 theyre not all that bad.
@@Jo70964s
A wise man once said
"Democracy is a government by the people, of the people, for the people... but the people are ret*rd*d"
how much is it to set up a company and get a long term visa?
With out help it is $8.5k total atm (after August $9.5k) - if you work with the government directly it is around $6k
@@tuomaskiv how about free lancers
Think treaty tax is an option if you buy a property & don't own property in Western country of birth
Id your taxes are only 20% just pay them and save yourself from the hassle
Better lifestyle g
How to be a tax resident in dubai
I made a video on this
What About India?
31 % tax
Dubai will start collecting income tax in few years .
Even if that happens...then at that point you can just go somewhere else if you have better options.
H sir good morning
No mention about Americans other than displaying the flag for a few seconds. You should have started right out of the gate with the disclaimer that this doesn't work for Americans or anyone else from a country that taxes world wide income regardless of where you live.
America is the only country like that. Sucks to be you.
Dubai is tax free, useless video
Hey tuomaskiv , really nice video ! I was wondering if I could help you with more Quality Editing in your videos and also make a highly engaging Thumbnail and also help you with the overall youtube strategy and growth ! Pls let me know what do you think ?
How do i ask anything about this? Do u have telegram?