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?
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 are crypto for 22% lol Here in India, 30% flat tax, 1 % tds on top of that and . . . U can't set off ur income with losses Its draconian here u are in an heaven compared to people like us, or europeans who need to pay as high as 40- 55% tax
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
That's government does to you. When crypto still in its infancy, all governments say that crypto is sh1tn But now they want to tax what once was sh1t! 😂
yeah, you can apply for an entrepreneur visa even if you do not have a company, if you are only doing business on your own without having a physical shop.
Malaysia is my neighbor country our seperated brother from the same ethnicity in Indonesia. But the place is a mess for language! Some can speak english some can't! so you need to speak melayu but THEN it's both that they don't understand wtf! You need to be multilingual to be in malaysia period
@@bigjoe9148 nope.. Since April 2022, the government has applied a 0.1% income tax on crypto transaction gains, and a 0.11% VAT on purchases of crypto assets that is automatically through the approved exchange
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.
@@zerma6Very naive outlook on life. When you register with a crypto exchange they share all your data with your countries tax agency. That’s part of their compliance to be a registered exchange.
What a fool.. you can find the decentralized exchange and buy it there no id required! I moved mine as quick as I can while it still cheap. Also there a mixer service to wipe it clean most rich guy in asia are good at hiding their wealth and can move overseas without trace of their wealth! just swap your crypto to usdt and sold it more after you move
if you would like to cashout easily (even cash) contact me... In venezuela is EASY as hell not quite a lot of steps like this guy says in Dubai, of course this video is an ad of his company xD to make people book a call for them...
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
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 🇺🇸
live in switzerland. pay no taxes at all on crypto gains. became millionaire all thanks to btc investment 2013. thanks switzerland for not taxing unrealized and unrealized gains.
I want to do that! I have USDT in my wallet Tron Link, but I wanna some help to transfer using my seedphrase (summer topic topple similar physical seminar object upset deposit spot estate ripple). Can you tell me exactly how to do that?
There are a lot of tools that tell them if that BTC is legit. They can trace BTC transactions and if it’s in an exchange is even easier. Just ask for the paper
@@hispantrapmusic301Thank you. Are you telling me that they don’t check the source of my funds? They just check that the BTC or USDT are not flagged as “suspicious” in the Blockchain?
Wrong focus.Tge critical issue is achieving Non Residence in your Country of origin! Also, depending on your level of activity you may already be a Crypto trader rather than an Investor.That could mean income tax rather than capital gains.All key issues before you skip to Dubai!
@Tuomas - once you become a non resident for tax purposes in a lot of western countries, it’s classed as a taxable event (I.e, pretty much established losses or gains on crypto at that time), therefore you’d still have to pay tax on the gains. This is your first step, but then it’s pretty much the same as selling in your home country. Can you advice as it kind of makes the video redundant Thanks!
In some countries that is true, if they have an exit tax like this and crypto is included then yeah you can't get away from the tax on existing gains but you still can on future gains (gains that you have after moving)
Can we cash out our cryptos while bein on a visit visa as a tourist in UAE, what is the cash-out limit and which cryptos are accepted by these ATMs and where in Dubai are these machines located, kindly reply and thank you in advance
Hello Tuomas. Can i ask a question please, if i leave the UK for at least 6 months, i become tax resident in the UAE, then i go back to UK, after 6 months, do i have to pay taxes in the UK? or the 6 months was long enough to not to pay taxes in the UK coz im now an UAE tax resident? !
If you're a US Citizen you are still liable for US Federal Capital Gains taxes on Crypto regardless of your residency in the UAE or anywhere else in the known Universe. You may also be liable for state taxes if your state has Capital Gains taxes and you haven't established residency in another US state with zero state Capital Gains taxes before moving overseas. (Depends on the State, Check with your accountant) If you sell crypto in the UAE or anywhere else and don't declare the gain on your Federal return you are breaking the law.
Live in UK. Need to pay 20% tax… But I have a way I think. Let’s say I make a £1m… And then I use a crypto lending platform to take out a £1m loan and use my portfolio as collateral… then no tax to pay correct??
crypto-crypto swaps are taxable events. So unless you are already holding assets with deep borrowing liquidity and high LTV ratios, you would cause a taxable event by swapping the memes into SOL/ETH/BTC. Of course, by holding the memes you will run into issues of borrowing liqudity and lower LTV ratios. You might only be able to borrow 50% against your memes/smaller tokens, which would effectively be paying a higher tax.
Actually the most crypto friendly country with 0 tax and almost no question asks.... is my country Venezuela... you can send an email to me for more questions... and... venezuela is cheaper than dubai... not safe enough but you can cash out there quite easier without building a company
@@josefmilliion 😂.. the. What is vat .. they have vat for goods..there are many other muslim countries who collect tax. 😂.. infront of money there is no religion or faith..
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.
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.
This is incorrect!!! As soon as u sell or move your crypto to another account it triggers an ato tax event which is the same as a sell. And this shows a capital gain which you get taxed on!!
I’ve been dipping my toes into trading casually, and step finance has made it so accessible. With features that automatically adjust to my risk level and preferences, it feels like a tailor-made experience that allows me to grow without stress.
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 ?
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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?
great video
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% 😢😂
U are crypto for 22% lol
Here in India, 30% flat tax, 1 % tds on top of that
and . . . U can't set off ur income with losses
Its draconian here
u are in an heaven compared to people like us, or europeans who need to pay as high as 40- 55% tax
@@Ashley-w3xcapital gains for crypto is 24%
@@Ashley-w3x Try Australia 47.5% plus other tax, average australian pays 67% - I need to leave
Well if you see it like that then the facilities of Australia is far better than our india in many ways @@billdelicatessen948
Nice to see you making another successful channel
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
But do you have to pay an exit tax before going to Dubai ?
Or can I just pack my bags and leaaaaave
@@ahmedali-xq4vl if you don't sell any assets than you don't pay any capital gain tax.
In Australia it is impossible to do this tax free, as they impose an exit tax on ALL assets!!
yes true :(
That's government does to you.
When crypto still in its infancy, all governments say that crypto is sh1tn But now they want to tax what once was sh1t! 😂
What is the tax rate in Australia on crypto?
yeah, you can apply for an entrepreneur visa even if you do not have a company, if you are only doing business on your own without having a physical shop.
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.
Malaysia is my neighbor country our seperated brother from the same ethnicity in Indonesia. But the place is a mess for language! Some can speak english some can't! so you need to speak melayu but THEN it's both that they don't understand wtf! You need to be multilingual to be in malaysia period
@@MaseraSteve2 ist it tax free in Indonesia?
@@bigjoe9148 nope.. Since April 2022, the government has applied a 0.1% income tax on crypto transaction gains, and a 0.11% VAT on purchases of crypto assets that is automatically through the approved exchange
@@bigjoe9148my comments got removed, so I simplified it. Legally no you'll be automatically charged through buy/selling.
Nice ❤
Hong Kong is also very open this. Also the banks happy to help.
And what if you are stateless?
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.
Why would you declare your crypto to Australia?
@@zerma6Very naive outlook on life. When you register with a crypto exchange they share all your data with your countries tax agency. That’s part of their compliance to be a registered exchange.
What a fool.. you can find the decentralized exchange and buy it there no id required! I moved mine as quick as I can while it still cheap. Also there a mixer service to wipe it clean
most rich guy in asia are good at hiding their wealth and can move overseas without trace of their wealth! just swap your crypto to usdt and sold it more after you move
@@tuomaskivUSA UK CANADA AUSTRALIA
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
Yeah America is different you gotta find another way. The IRS doesn’t care and will find you
Exactly
if you would like to cashout easily (even cash) contact me... In venezuela is EASY as hell not quite a lot of steps like this guy says in Dubai, of course this video is an ad of his company xD to make people book a call for them...
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
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
Both, 90 days is enough but 6 months is solid.
Good video, thank you.
Hello, can you develop from 5:08 please? Like name for these exchanges? It is a great method I would like to explore for a small amount of cash (10k)
amazing, plan on doing this for myself
Amazing content tuomas thank you
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
Wow, Subscribed. Thanks.
if i mine bitcoin and cash out the money am i good? or is there things i need to keep in mind?
live in switzerland. pay no taxes at all on crypto gains. became millionaire all thanks to btc investment 2013. thanks switzerland for not taxing unrealized and unrealized gains.
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?
Get a higher verification level
you can , there are exchanges that do it for big amounts too
You can cash out without being a resident, plenty of exchanges here do it
Maybe, but it's useless as you would be liable for tax on all the gains in your home country if you don't go through becoming non-resident there first
@ there are ways ;)
Do they ask for hassle documents like source of wealth?
I want to do that! I have USDT in my wallet Tron Link, but I wanna some help to transfer using my seedphrase (summer topic topple similar physical seminar object upset deposit spot estate ripple). Can you tell me exactly how to do that?
Thank God I don't need to pay taxes on gains. Non-EU/US national.
But what if you want to go back to your home country with the money? Can you bring the money with you or not?
Thanks for the video. How do you probe your Bitcoin is legal? Showing screenshots of the exchange where you bought the bitcoins several years ago?
There are a lot of tools that tell them if that BTC is legit. They can trace BTC transactions and if it’s in an exchange is even easier. Just ask for the paper
@@hispantrapmusic301Thank you. Are you telling me that they don’t check the source of my funds? They just check that the BTC or USDT are not flagged as “suspicious” in the Blockchain?
Wrong focus.Tge critical issue is achieving Non Residence in your Country of origin! Also, depending on your level of activity you may already be a Crypto trader rather than an Investor.That could mean income tax rather than capital gains.All key issues before you skip to Dubai!
Thanks sir
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
how about portugal ? i hear is a crypto friendli coutry
@Tuomas - once you become a non resident for tax purposes in a lot of western countries, it’s classed as a taxable event (I.e, pretty much established losses or gains on crypto at that time), therefore you’d still have to pay tax on the gains.
This is your first step, but then it’s pretty much the same as selling in your home country.
Can you advice as it kind of makes the video redundant
Thanks!
In some countries that is true, if they have an exit tax like this and crypto is included then yeah you can't get away from the tax on existing gains but you still can on future gains (gains that you have after moving)
Hey man, What kind of business do you own there in Dubai?
Can we cash out our cryptos while bein on a visit visa as a tourist in UAE, what is the cash-out limit and which cryptos are accepted by these ATMs and where in Dubai are these machines located, kindly reply and thank you in advance
Yes you can , there are exchanges that do it
Thanks
I am going to do the same, I am not stupid to pay a lot of taxes 😉
How can i open account.
Can you please do South Africa please please ...
Which are good legal crypto trading platform in UAE?
Binance Rain
Bitoasis
Put your crypto as a collateral for a loan, and keep your crypto
Worst idea ever😢 don't do it. Crypto is not GoLD
@@btceth9409 It isn't, yet itself has characteristics of gold.
In Colombia doesn't exist Crypto, you can not tax what doesn't exist !
So basically you need to live in the UAE for 5 years. Bro that’s crazy expensive rending house for 5 year etc
Obviously if living in Dubai is too expensive for you then this is not the right option for you
Hello Tuomas. Can i ask a question please, if i leave the UK for at least 6 months, i become tax resident in the UAE, then i go back to UK, after 6 months, do i have to pay taxes in the UK? or the 6 months was long enough to not to pay taxes in the UK coz im now an UAE tax resident? !
It's complex, watch my videos on exiting the UK
U shouldn't go back to UK for 5 years
If you're a US Citizen you are still liable for US Federal Capital Gains taxes on Crypto regardless of your residency in the UAE or anywhere else in the known Universe. You may also be liable for state taxes if your state has Capital Gains taxes and you haven't established residency in another US state with zero state Capital Gains taxes before moving overseas. (Depends on the State, Check with your accountant) If you sell crypto in the UAE or anywhere else and don't declare the gain on your Federal return you are breaking the law.
yes correct, sucks to be American
I am deciding to use Solana. Could you please give me your advice about this decision?
ahahahahahah
@@davicci975What's funny? Speak.
Live in UK. Need to pay 20% tax…
But I have a way I think.
Let’s say I make a £1m…
And then I use a crypto lending platform to take out a £1m loan and use my portfolio as collateral… then no tax to pay correct??
crypto-crypto swaps are taxable events. So unless you are already holding assets with deep borrowing liquidity and high LTV ratios, you would cause a taxable event by swapping the memes into SOL/ETH/BTC. Of course, by holding the memes you will run into issues of borrowing liqudity and lower LTV ratios. You might only be able to borrow 50% against your memes/smaller tokens, which would effectively be paying a higher tax.
@ yes good to point that out. What is your plan for cashing out?
I cashed out my crypto with p2p in dubai to my bank and the bank closed my account...
Which bank ?
Well well... That's why you should be more dilligent on cashing out.. buy gold with crypto swapped to usdt or btc then sold it in person
You know those wallet app? Like paypal or cashapp? Yeah.. you move your fund there not through bank!
Which bank you used? Enbd is best in crypto policy
If we have to renounce crypto gain in our own country then why the fukc we want to go dubai for? We want to go dubai to skip tax.
can i transfer my scalable capital depot from germany to dubai ?
Nein Scalable sendet die Daten ans Finanzamt
The problem with selling via P2P is that it can take forever if you want to sell a large amount of crypto.
Actually the most crypto friendly country with 0 tax and almost no question asks.... is my country Venezuela... you can send an email to me for more questions... and... venezuela is cheaper than dubai... not safe enough but you can cash out there quite easier without building a company
Hoowwww???
Think treaty tax is an option if you buy a property & don't own property in Western country of birth
0:13 don't forget India
How to be a tax resident in dubai
I made a video on this
NOT 100 % correct information .🤣🤣🤣🤣
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.
They wont. In islam riba and tax is not approved
@@josefmilliion 😂.. the. What is vat .. they have vat for goods..there are many other muslim countries who collect tax. 😂.. infront of money there is no religion or faith..
@josefmilliion it's time to tell you about VAT, which value addition tax
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.
@@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"
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.
@@tuomaskivhow about Sweden?
What About India?
31 % tax
Why Dubai? Just got to Mexico! 🤣
This is incorrect!!! As soon as u sell or move your crypto to another account it triggers an ato tax event which is the same as a sell. And this shows a capital gain which you get taxed on!!
Feeling sad for the guy again who bought 2 pizzas for 10,000 BTC
I’ve been dipping my toes into trading casually, and step finance has made it so accessible. With features that automatically adjust to my risk level and preferences, it feels like a tailor-made experience that allows me to grow without stress.
Id your taxes are only 20% just pay them and save yourself from the hassle
Better lifestyle g
You pay the tax then. I need to pay 20% on at least 700k… fuck that
@AGC-d8j That leaves you with 500k, don't risk prison over greed.
Tax is causing many to leave their own countries, an I highly reccomend you leave
H sir good morning
How rich are you mfs 😭
Dubai is tax free, useless video
Your country treats you like a milking cattle…sad world
Aevo🚀🚀
Portal 🚀🚀🚀
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 ?