Yes it can be done very easily but do remember that you are still liable for the gain in NL for upto 5 years.
"Possessions like savings, shares, houses that are not the primary living etc. are taxed when a tax payer (filing single) has more than € 30,360 (this is the amount for 2019). For couples, this tax-free amount is double. Consumer goods like cars and furniture, that are not held as an investment, are excluded.Wealth tax is hardly anything in Netherlands. The cost and maintenance of a UAE setup probably more than Wealth tax owed unless your Jeff Bezos or something?
"Possessions like savings, shares, houses that are not the primary living etc. are taxed when a tax payer (filing single) has more than € 30,360 (this is the amount for 2019). For couples, this tax-free amount is double. Consumer goods like cars and furniture, that are not held as an investment, are excluded.
The tax rate comes in tiers, and the following numbers are for 2019 and will be updated in future years: it is a 0.58% tax for € 30,361 to € 102,010 of assets, 1.34% for € 102,010 to € 1,020,096 and 1.68% on any euros of assets above € 1,020,096."
Taxation in the Netherlands - Wikipedia
en.wikipedia.org
Are there any deductions or something because around 1M+ would result in about 15k in wealth tax? Switzerland is the one with the "tiny" wealth tax, however also there its a copule of k's for around 1M.
Yes it is about 1.75% roughly so on €1m you need to have 17k free cash flow to pay it (every year) on €2m 34k free cash flow to pay it (every year) you get my drift.... so I don't have such a free cash flow so I would have to sell my assets to actually be able to pay taxes every year which I am trying to avoid here....Wealth tax is hardly anything in Netherlands. The cost and maintenance of a UAE setup probably more than Wealth tax owed unless your Jeff Bezos or something?
See my previous answer roughly it is effective tax rate of 1.75% so yes €1m = 17k in taxes (every year) and so on....."Possessions like savings, shares, houses that are not the primary living etc. are taxed when a tax payer (filing single) has more than € 30,360 (this is the amount for 2019). For couples, this tax-free amount is double. Consumer goods like cars and furniture, that are not held as an investment, are excluded.
The tax rate comes in tiers, and the following numbers are for 2019 and will be updated in future years: it is a 0.58% tax for € 30,361 to € 102,010 of assets, 1.34% for € 102,010 to € 1,020,096 and 1.68% on any euros of assets above € 1,020,096."
Taxation in the Netherlands - Wikipedia
Are there any deductions or something because around 1M+ would result in about 15k in wealth tax? Switzerland is the one with the "tiny" wealth tax, however also there its a copule of k's for around 1M.
Yes that is correct I got over €2m in crypto and I don't have cash flow to cover my tax obligations if I stay in NL in 2022 so to cover it I will have to sell the assets or relocate to a country where there is no wealth tax
You can put some of this crypto into cashflow making positions and get the cashflow you want that way.
Yes I could do 4-6% on lending out my crypto via BLockFi, Celsius etc. or sell some of it buy dividend paying stocks e.g. yielding 4% but than in the long term it doesn't help. As I don't want to sell for a long time it looks like that the best option for me is to move out to the other country that doesn't have wealth tax and stay there - this country ideally like UAE would have no capital tax gains - there is only few of them (with no wealth tax and capital tax) e.g. Singapore, Malaysia, UAE etc.
You can tip your toe into DeFi and up these single digits returns
Yeah I couldYou can tip your toe into DeFi and up these single digits returns
Yep sure, there are many more like many of the islands countries, Panama, Paraguay, Hong Kong, even Thai could work. But most places make your life difficult with restrictions these days.
this would increase my risk but that is why they pay so much yield
No I didn't have to for the last 3 years as I was covered by something called here 30% rulling. In the nutshell for 5 years (I got it when it was 8 years) only 70% of your salary is taxed and you don't have to report worldwide income/wealth etc. so I didn't have to report my BTC but I will have to from the next year
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nomadgirl.co
