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Any chance a Turkish btc 'shop' rats me out to EU?

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RustCohle

New member
I'm in Turkey now, although I'm an EU citizen. I spotted some Bitcoin 'shops' downtown, where I could buy/sell. I didn't go in, but I'm pretty sure they would ID me. Any chance they share the info with countries in EU? How much do you think I can get away with?

Also: If I rent a car and drive to Georgia with the cold hard cash, any change I can buy real estate there without being reported to EU? What if I aim at cheap real estate to begin with, say I drive with slightly less that 10k (so I can cross the border) in cold hard cash, also make a slightly less that 10k transfer from my bank account so I don't trigger suspicion, make a loan for the rest of 10 k and buy some cheap but decent Batumi/Tbilisi investment than can bring me a tiny legit cash flow in a Georgian account? I could repeat this multiple times in multiple countries. I know it's not much, but I came from absolute poverty so even if I make it to 1-2 k passive legit income for me that's amazing.
 

Fred

Dubai Expat
Mentor Group Gold
Commercial Service
Hi,

think long term.

Even if you can short term invest the money in some 3rd world country or let's say developing country that just accept your "hard cash" to gro there economy - you can't really build wealth because as soon you want to move the money to something more reputable - questions will arise.

I can't imagine that you really want investing all your fiat money from cashouts in some developing country property.

Basically in this case you would move your assets from risk on (Bitcoin) to risk off (cash) to again risk on (developing country real estate).

I don't want to advise you what you have to do with your money but in case you are one of the lucky ones that get early in Bitcoin - just cashout the profits in a reputable offshore jurisdiction like the UAE via a local company that grants you residence and opens you local UAE bank accounts that don't trigger any CRS due to the residenc - pay you a good salary and invest the majority of the money in some passive managed ETF's with 15% p.a. and call it a day.

You can do of course the real estate investment in developing countries with some of your official salary you get like mentioned above but just to diversify your portfolio and not to overexposed in risk again like I assume you are currently with Bitcoin.
 

RustCohle

New member
Hi,

think long term.

Even if you can short term invest the money in some 3rd world country or let's say developing country that just accept your "hard cash" to gro there economy - you can't really build wealth because as soon you want to move the money to something more reputable - questions will arise.

I can't imagine that you really want investing all your fiat money from cashouts in some developing country property.

Basically in this case you would move your assets from risk on ( Bitcoin) to risk off (cash) to again risk on (developing country real estate).

I don't want to advise you what you have to do with your money but in case you are one of the lucky ones that get early in Bitcoin - just cashout the profits in a reputable offshore jurisdiction like the UAE via a local company that grants you residence and opens you local UAE bank accounts that don't trigger any CRS due to the residenc - pay you a good salary and invest the majority of the money in some passive managed ETF's with 15% p.a. and call it a day.

You can do of course the real estate investment in developing countries with some of your official salary you get like mentioned above but just to diversify your portfolio and not to overexposed in risk again like I assume you are currently with Bitcoin.
This is a good point indeed and I considering the Dubai option seriously, although I do have some hesitations. I am trying to brainstorm some possible actual business ideas that I can start in Dubai so I feel less stressed about starting a company just as a proxy. I've been also pinging some entrepreneurial-minded-but-still-wage-slaves contacts that I have to see if they are interested in starting something together in Dubai, like an online drop shipping clothing store or something simple.
Although I've been libertarian-minded since many years ago, I'm still very new to the practical side of it so all this is giving me a headache. Right now, I'm out of my depth.
Also, how can trust you/learn more? If I fly over to Dubai just to meet you, could we have a chat?
 
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