How to collect/hide/protect money? (have access to multiple passports)

abc123

Mentor Group
Mentor Group
Finally decided to register, glad I found this forum. I am open to advise here from you guys.

I am born in country A and law says that you can never get rid of this citizenship, however I have not visited this country for past 30 years. I dont have any connections or attachment here except that the passport of country B mentions this as my country of birth. I can get a passport from this country as well, however it is a middle-east/northafrica dirty country so I guess it would not benefit me anywhere.

I am citizen of country B (high tax in EU) with multiple local companies, own house and so on. Businesses are run by partners and I declare income here from these local companies. I have lived here for 30+ years and consider this as my "home country" if anyone asks me where I am from. I can not detach myself from here as i have alot of incomes here. At least not the coming 3 years. I plan to visit this country 60 days a year.

I recently moved to country C (high tax in EU) (nobody knows I am here, but government of country B could know if they really wanted to. I plan to settle here but still early stage, just enjoy life and live here 300+ days a year is the plan)

I have applied for passport in country D (Armenia) and should get it within 6-8 months (by heritage). I applied because I guess it would be beneficial for me and would help me achieve below. I dont plan to visit this country at all.



The issue now that I am seeking a solution for:
I have funds in different friends banks and in different countries (both inside and outside EU) that I made from bitcoin trading, lending to people that traded successfully, and people that owe me money and from other offshore investments. All in all about 1M € around which I want to have better control over and move to my name without country B or C knowing.

The amount of income from here will also increase with about 200k € a year which I would like being transferred to me without paying tax for or max 1-5% onetime and not yearly.

The transfers can be made from 2 accounts to my new account (as I could ask them to send each other and have 2 transfers only to me).

Future usage of the funds:
I plan to have these money received just rot and maybe in some year from now use them to buy land somewhere but not in country B or C. Or make some other investment (meaning just transfer funds from this account max 1-2 times a year).

Therefor I need a SAFE bank with great history so I can just have them there and knowing that this bank is as safe as it can get.


So the question is:
How can I set this up the best possible way, keeping in mind I have attachments to 4 different countries and with multiple passports. How would you do it? I guess I would use the Armenian passport to open accounts with.

I "just want to" have my money allocated in one-two spaces and on my name with full control over, without country B or C knowing. Being a bit future proof so that if anyone exchanges information with each other the information would not reach country B or C.

I also don't want to declare to the new bank how and where I got this money and need to prove for them or provide supporting documents. They should just happily accept any explanation.


And sidenote question:
Will I be subject of tax in country D if they find out that I have money earned somewhere else? Even if I am never going to visit this country, and if I would I would need a visit it would be a matter of days only.
 

Marie Manila

Building Trust
Entrepreneur
Is country A Eritrea? If yes, you will always stay tax resident of Eritrea. Keep this in mind.

If you apply for another passport, first check the laws of country B in detail.
For some European countries you will lose the citizenship (and also the passport), if you get an additional one of another non-EU country.

I am not sure about the tax laws of Armenia. In most countries you will get a tax resident if you stay there more than approx. 183 days per year.
But this really differs from country to country. For example in France you will get a resident, if you stay in this country the longest time of the year.
So, if you are moving every 20 days to a different country, but because of any reason you stay in France for 30 days, you will have to pay taxes there (or just ignore it and nobody might ask you ;))

If you get a tax resident in Armenia only if you stay there for more than 183 days per your, you could try to open a bank account (neither in country A nor in country B nor in country C) with your Armenian passport and an Armenian mobile phone number anywhere in the world. Many banks will ask for your Armenian tax identification number and address in Armenia. So, you should be able to provide a number and an address there. Maybe there is a mail forward service available for this?
If you can convince the banks, that you are a sole resident of Armenia, they will do the reporting under CRS to Armenia only. Since you don't have to pay taxes in Armenia, everything should be fine.

Or you could go to a country without CRS. But this is only a short time solution. Most countries will join CRS sooner or later.
In this case you could try the neighbour Georgia.
 

Artemis Eleutheria

Building Trust
Entrepreneur
.... and consider this as my "home country" if anyone asks me where I am from.
I have major difficulties when someone asks me where I am from. Some of my responses have been known to be:

Sorry, I did not understand the question. What to you mean?
Samsonite/Tumi
I just came from country X
 

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