Portugal + TAX ID in Dubai, am I safe for now?

[pixbix]

I made some profits long time ago, and i moved them to Revolut. Because I don't want to have headaches with the tax from my country (Romania) , i just setup my account in Portugal , and put the TAX residency in Emirates. I verified those info with revolut. As an EU memeber I can go wherever i want. will i be safe for now? I don't want a stupid CRS reporting, as we have a very bad legal system here, in witch we just like to "fxxx people" instead of apply the law, and nobody here will even want to find the thruth . total cash in revolut is over 200,000, all the money are in their Revolut stocks.

 

[MarkusCostigan]

How long ago were these profits generated? Were you still a resident of Romania when you moved the money to Revolut?

 

[Sols]

Revolut might still report you to Romania if that's where you have been tax resident for the majority of 2022 or when the profits were made. Only Revolut will know for sure and they will probably not answer you if you ask, so only time will tell.

 

[pixbix]

How long ago were these profits generated? Were you still a resident of Romania when you moved the money to Revolut?

about 15-20 years ago. i came back to Romania, one girl ordered to be killed, justice was unfair with me, and i had a huge mental breakdown that created me huge agoraphobia, i wasn't even leaving my houses for years.
i don't want some incopetent full of ego to guy come and harash me, steal my money.
here in Romania, some guys get a lot of sex, friends, a very exceptional social life, while guys like me are made fun of, and people enjoy hurting them

Profits i transferred from Perfect Money, egold to bitcoin then i added to bitcoin exchange. now i transferred the money to revolut (from the bitcoin exchange), to buy stocks


now Romanian's IRS promised a jihad, and i don't want to be on their blacklist, after they turned my life already.

Revolut might still report you to Romania if that's where you have been tax resident for the majority of 2022 or when the profits were made. Only Revolut will know for sure and they will probably not answer you if you ask, so only time will tell.

I emailed all banks in Romania asking about CRS, all of them asked for an ID "for identification" or refused to answer. But they are all good at collection people info. It's very unfair, they should tell us where our data is going and what is submitted.

 

[FantomOffshore]

No way to tell, what I do is just not fill out Tax Residency info on my Revolut account. They have been mailing me for 2 year's and I never updated it.

 

[pixbix]

In my case, they updated it to my country : Romania, and added my personal identification number on it

 

[backpacker]

In my case, they updated it to my country : Romania, and added my personal identification number on it

Why did they do that?
In post #1 you said that you verified your UAE tax residency with Revolut ...

 

[JimBeam]

Why did they do that?
In post #1 you said that you verified your UAE tax residency with Revolut ...

Did you sent them a picture of your passport?
What docs did you sent them for UAE address proof?

while guys like me are made fun of, and people enjoy hurting them

Sorry, but why would someone make fun of you or hurt you???


Also, you might want to consider banking in Georgia as they are one of the few non-CRS countries at the moment so might be worth looking into that option.

 

[backpacker]

Did you sent them a picture of your passport?
What docs did you sent them for UAE address proof?

You should address your question directly to @pixbix . Otherwise he might not notice since you replied to me.

consider banking in Georgia as they are one of the few non-CRS countries at the moment

That's past tense. They start reporting in 2024 which means data collection is about to commence in 2023.

 

[pixbix]

Did you sent them a picture of your passport?
What docs did you sent them for UAE address proof?



Sorry, but why would someone make fun of you or hurt you???


Also, you might want to consider banking in Georgia as they are one of the few non-CRS countries at the moment so might be worth looking into that option.

1. To put an address in Portugal or anywhere in EU even the Romanian ID will be fine. Actually they accept Romanian ID, or Passport or driving license from Portugal , but they don't accept permanent or temporarily resident card from Portugal.

2. TAX Country : You can choose any country. It's called CRS-Self Certification.
You can select any country, they will never ask for info.

2.1 . After 200 000 EURO they need to check if your data is correct. Like they will ask an utility bill from your address,etc. This never happened to me.

2.2 After 1.000.000EURO they are required to check the data you sent is real. Like , they will ask you to take a selfie in front of your door of the house you live, in the street, or a 360 degree video nowadays`.or they will pay a private investigator, to ask you to sign a paper, after he will be sent to your door.


3. If you don't self Certified yourself, then according to CRS rules, they will send your data to your citizenship country. So leaving that data incomplete can not be a smart idea.

 

[backpacker]

2.1 . After 200 000 EURO they need to check if your data is correct. Like they will ask an utility bill from your address,etc. This never happened to me.

2.2 After 1.000.000EURO they are required to check the data you sent is real. Like , they will ask you to take a selfie in front of your door of the house you live, in the street, or a 360 degree video nowadays`.or they will pay a private investigator, to ask you to sign a paper, after he will be sent to your door.

Where did you get that from (?): Sending a private investitgator after their most valued clients ; HNWI required to take a selfie in front of his/her house .... . Where on Earth did you experience anything like that??

A bank is not required to check if the documents you submit are "real". They have to take ressonable efforts to ensure the veracity of supporting documents: You send a drivers license from country ABC and thebbamk checks if country ABC issues a DL that looks like the one you sent in. Simple Google search. Banks are not Interpol.

With regards to CRS the obligations of a financial institution are clear: Have an official government ID of the clients' country of residence + proof of address on record. If the client can produce a tax ID/tax certificate of his/her country of residency on top of the aforementioned, it already exceeds the requirements of this guideline.

Further on, the official OECD FAQ lifts mystery -> https://www.oecd.org/tax/exchange-of-tax-information/CRS-related-FAQs.pdf