Crypto immigration (I guess I"m the first Asian here)

[NewHorizonsParaguay]

Like how fast and for how much?

Right after you get permanent residency. It starts at 70k for low-risk countries (EU, UK, Switzerland, USA, Canada, South Korea...).

 

[Mercury]

Why not The Philippines? As a foreigner no tax on foreign sourced income, stay through recurring visa is easy, and Korean diaspora is widespread.

 

[daniels27]

Right after you get permanent residency. It starts at 70k for low-risk countries (EU, UK, Switzerland, USA, Canada, South Korea...).

Is this legal?

 

[NewHorizonsParaguay]

Is this legal?

Yeah. Ultimately it’s Supreme Court deciding whether your application will be accepted. They have their internal norms.

 

[CyprusLawyer101]

My question would be,
Is it relatively easy to pull out money after that?

Because, I know Dubai is like that too, but then you can't really get the money out after you sell your house. They'd ask for "Where did you get this money from? or where did you get the money from?" ya know.

And what's the threshold for the money?

Why you say that?
income is from the sale of property and should be acceptable.

 

[daniels27]

Yeah. Ultimately it’s Supreme Court deciding whether your application will be accepted. They have their internal norms.

And whom you pay the 70k USD? The court or somebody internally illegally?

 

[NewHorizonsParaguay]

And whom you pay the 70k USD? The court or somebody internally illegally?

Edit: It is the consulting fees

 

[daniels27]

Ideally, if you pay it to me for getting it done

My question is whether this 70k is an official deal or what it is? Is it bribing some guy? Is it some payment to a lawyer who then makes a long case of which he knows that the court will approve it based on prior experience etc.?

 

[daniels27]

They'd ask for "Where did you get this money from? or where did you get the money from?" ya know.

If you move from Korea to any country and suddenly have some money in your account in your new country, it generally is not a big deal as they have no track record of you from the past. And then you can always claim that it was savings from childhood, salary from 4 decades ago when you were 20, etc. If you have over 5M, it is a different story, then better buy and sell your house once to have a sales record.

 

[NewHorizonsParaguay]

My question is whether this 70k is an official deal or what it is? Is it bribing some guy? Is it some payment to a lawyer who then makes a long case of which he knows that the court will approve it based on prior experience etc.?

It is not an official deal. Officially, applying is almost free. The price includes consulting fees of various experts to land it successfully.

 

[NewHorizonsParaguay]

If you move from Korea to any country and suddenly have some money in your account in your new country, it generally is not a big deal as they have no track record of you from the past. And then you can always claim that it was savings from childhood, salary from 4 decades ago when you were 20, etc. If you have over 5M, it is a different story, then better buy and sell your house once to have a sales record.

In European countries, he might have faced some scrutiny, but in the Philippines, Thailand, Paraguay, Panama, etc, he could buy assets directly with crypto without much question (at least for Paraguay I can confirm), and rest off-ramp in cash/bank.

 

[daniels27]

In European countries, he might have faced some scrutiny, but in the Philippines, Thailand, Paraguay, Panama, etc, he could buy assets directly with crypto without much question (at least for Paraguay I can confirm), and rest off-ramp in cash/bank.

Even in Europe, I would not worry too much. And if, then you put the money in a US bank account with a reidency in Peru or something.