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BTCNG

Active Member

Martin Everson

Offshore Retiree
Staff member
Mentor Group Gold
Elite Member
Looks like notes said they volunteered to join CRS which is smart move. 2023 is a good way off. This is good news for Georgia and they have given plenty of time for those hiding to regularize their tax affairs thu&¤#.

However bad news for those who still believe non-CRS countries are the way to go.....lol.
 

Martin Everson

Offshore Retiree
Staff member
Mentor Group Gold
Elite Member
Lots of information must already be exchanged outside of AEOI, but I thought this would come sooner than 2023.

I would not be surprised. Georgia wants good relations with EU and it has a free trade agreement with EU and would be mad to not corporate with any EU demand outside AEOI.
 

avalanche

Entrepreneur
Looks like notes said they volunteered to join CRS which is smart move. 2023 is a good way off. This is good news for Georgia and they have given plenty of time for those hiding to regularize their tax affairs thu&¤#.

However bad news for those who still believe non-CRS countries are the way to go.....lol.
Ugly stuff.. CRS turns banks into police puppets, forces them to collect too much info, makes it very hard to open bank account anywhere you like (even if you just like their online banking, API access and low fees). Gotta withdraw money from that shithole by the time
 
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Tax Cow

Moo Moo! I contribute 60% of my milk to the state.
Entrepreneur
Amazed with the comrade love for that bueraucrat reflected in the OECD's article:

the Honourable Ivane Matchavariani, Minister of Finance of Georgia, committed to implement the international standard on automatic exchange

Honourable, with upper-case H, the. Presidents rarely get this kind of treatment.
 
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Martin Everson

Offshore Retiree
Staff member
Mentor Group Gold
Elite Member
Crypto is the only place to stay safe

Not for long. I expect all banks to be forced to decouple from crypto activity at some point. Remember the EU and OECD have not gone to great lengths to destroy all offshore tax havens to leave the door wide open to that money flowing into crypto. Several nations have come together (including US) to fight tax evasion in what is known as the J5 and cryptocurrencies is one of their top priorities. Expect some major crackdowns.

 

avalanche

Entrepreneur
Not for long. I expect all banks to be forced to decouple from crypto activity at some point. Remember the EU and OECD have not gone to great lengths to destroy all offshore tax havens to leave the door wide open to that money flowing into crypto. Several nations have come together (including US) to fight tax evasion in what is known as the J5 and cryptocurrencies is one of their top priorities. Expect some major crackdowns.

crypto might be on the radar yeah, a lot easier to track. although its going to be cool to be making crypto money in a jurisdiction that wouldnt adopt these regulations yet
 

Davis123

Entrepreneur
All these non CRS solutions are going to fail
Any one recommend a good reliable bank in Armenia ?
or near by Non-CRS state.
All these non CRS solutions are going to fall one by one unfortunately as countries after countries are being blackmailed or bribed to join this OECD agenda to control their citizens the world over with the starting of FATCA. US is the only tax haven so far left for non US persons something US designed and drafted in 2010 when Obama signed the law. It was to protect its own interests as well as help OECD to design this law and implement this law the world over while controlling its own US citizens. US citizens get the door slammed shut by certain banks, brokerages and even shut of investments and foreign partnerships even while living in other countries. A non US partner, spouse can't have joint accounts with a US person period unless they report its income, balance to IRS and pay tax on US person's interests. Trust me divorces have happened due to it. Best solution these days is to move to a tax haven yourself.
 

CryptoInvestZZ

New member
Not for long. I expect all banks to be forced to decouple from crypto activity at some point. Remember the EU and OECD have not gone to great lengths to destroy all offshore tax havens to leave the door wide open to that money flowing into crypto. Several nations have come together (including US) to fight tax evasion in what is known as the J5 and cryptocurrencies is one of their top priorities. Expect some major crackdowns.

This might be true for privacy focused coins, but not for crypto in general. Crypto is here to stay and banks will have to join or lose to competitors who are faster at adopting crypto related services to its clients.
 

Granwasa

Active Member
@Benzouser, Armenia is far better than Georgia, regarding banking.
The country it is one of the main Russian epicenter, which you will notice by yourself once there. Smooth bank operations and no plan for CRS.
A trip over there would be definitely worth it. The capital Yerevan is very modern and there are more banks than fountains.
The most established ones:
  • Ameriabank. The biggest in the country.
  • Inecobank. Great mobile banking.
  • Converse Bank. Great costumer support.
  • Araratbank.
I hope to have been helpful.
Granwasa.
 

Obelix

New member
Armenia banks crypto friendlies? or at least no crypto enemies?, you know which better for send fiat from crypto?
Possible open online? or need to go there? Thx
 

Granwasa

Active Member
Armenia is open to everything that can flow through its banks.
Cryptocurrencies are not regulated and there are no restriction on such transactions.
The country, following Georgia lead, proactively push to become a crypto hub.
In 2018, Gagik Tsarukyan, founder of Tsarukyan Alliance, the second biggest party in Armenia, opened one of the biggest mining farm in the world Omnia Tech.
The cerimony was led by PM, Nikol Pashinyan.
 

Obelix

New member
Looks nice, as Georgia its the end with new CRS
Do you know how many $ guarantee on account? i mean in case problems with bank how many $ guarantee?
In EU its 100k example, Georgia its so so low
 

Granwasa

Active Member
The country does not offer any notable deposit guarantee. Link 1, Link 2.
You may open an account remotely with Ameriabank, Inecobank and Converse Bank.
However, a trip there would resolve all your problems in one day.
All major banks offers multi-currency accounts in EUR/USD and DRAMS.
 
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