Recent content by trek

All clear –thanks!

I see. Then I can tell the Portuguese authorities I left as long as I don’t tell my broker (IBKR). Correct?

So if I leave and do not tell Portugal, I should be fine. But what happens if I do tell Portugal I'm leaving for another country? Will they forward the CRS info? I completely agree with you here. I've lived in a small town in Algarve, and nobody seemed to care about invoices, and in many...

Thanks, pixbix! Yeah, it seems not updating the address on bank accounts is not a big deal. Does anybody know what happens if Portugal receives CRS info once I'm not living there anymore? Do they forward the info to the country I told them I moving to? Do they let the bank know that they...

I understand now. IBKR will report directly to my new country if they find out or if there is an address change, and this is not something that the Portuguese authorities will forward to my new country. Everything is clear now. Thanks for the great answer!

From what you say, it all boils down to what I tell the banks/brokers. This is how I thought things worked: Let's say I have an account with a foreign broker (e.g., Interactive Brokers). The account has my Portuguese residence address. I move to a new country but don't update my address in...

OK, this is what I wanted to know –that Portugal will report every account I have either in Portugal or abroad (with my Portuguese address) to my new country.

To be clear, I won't be hiding when I move. I will register myself as a tax resident and pay my taxes. However, I was thinking of not updating the address on some banks/brokers, so the CRS info still goes to my previous country (Portugal). The question I have is what happens to the CRS info...

What you say makes total sense.

Thank you for your answer. I think I was not clear in my initial post. In all three listed options, I meant to tell my new country that I'll start to be a tax resident there. The question was about the implications of not declaring this move in Portugal for CRS purposes (so my assets in some...

Hi, I've been living in Portugal for the past few years, made some money, and now considering moving to my home country (within the EU). I'm considering a few options concerning CRS and fiscal residence: NOT changing my address on financial institutions and NOT telling Portugal I'll be...

I asked and they seem to be fine with any exchange except Binance. Yes, but I have a Barclays International account with an IoM sort code. It was easy and it is a personal account. Just look for the International account. Not sure if they still open such accounts, though.

Do you use Barclays to send the wire transfer?

I'm thinking of sending some fiat to FTX (crypto exchange) from my Barclays account in the Isle of Man. Do I risk some termination for doing so? I guess they are not keen on receiving withdrawals but not sure about sending wire transfers. Is there anyone with some experience with this? Any guesses?

Thanks for the help!