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Question Spaniard - Crypto - Exit strategy - 7 figures

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FreeBit

New member
Hello,
I'm new here and I would like to ask you if I'm on the right path with the exit strategy I'm working on.

First, bit of background.
Get into cryptos on 2013, been trading alts for all this time.
As you can imagine I made big money on 2017 but after that I've lost 99% of it.
I had money on cryptsy, mintpal, cryptopia and a few other exchanges that disapeared, meaning I have no way to proof part of the loses I had.
I expect to be back to the seven figures this year. Not even close to it now but I know what a crypto bull year can make.

Point is. I want to move to a low/free tax country and use a cryptofriendly bank to deposit my profits (atleast the money I want to use the next 4 years).

This is the strategy I'm working on:
A) Cyprus non-dom residency (with a dormant company) + Cyprus cryptofriendly bank account
B) Cyprus non-dom residency (with a dormant company) + Swiss company + swiss cryptofriendly bank account
C) Cyprus non-dom residency (with a dormant company) + UAE company + UAE bank account
D) UAE residency + UAE company + UAE bank account
E) Please add some options you guys would consider

Would this work?
 

offshore84

New member
I do have a spanish passport

Should I let them know that I'm not a fiscal resident there? You make this with "modelo 030" which details your new fiscal residency
Hi Freebit, just my two cents:

On one hand yes, you'd need to fill in the "modelo 030" to inform AEAT you're not a Spanish tax resident anymore.
On the other hand, UAE is not longer issuing a Tax Certificate for Spanish citizens living in UAE. See here as a proof:


So to demonstrate you're an UAE tax resident, you should register yourself "en el Registro de Matrícula Consular de la Embajada de España en los Emiratos" and asked them for a resident certificate and show AEAT this document if asked: http://www.exteriores.gob.es/Embajadas/ABUDHABI/es/VivirEn/Documents/Carta explicativa.pdf

You need to provide an address to the Spanish Embassy to prove you live in UAE. I don't know if Fred could help with this address issue as well.

I contacted DLS Dubai a few days ago to know further (@Fred I'm the Spanish national daytrader living in Italy)

I hope this helps FreeBit.
 

ZManor

New member
Hi guys, this is is a very interesting thread. I'm also a Spanish resident. Is there not any tax efficient way of cashing out from crypto (hodl and day trades) while remaining in Spain? Surely there must be something that can be done that makes it more efficient. Is day trading better through a Spanish company? Hodl is only subject to cap gains after holding for 1 year.
 

offshore xpert

New member
I see that some comments in regards to banks. Just to provide some light, banks in Panama and Georgia don't like crypto transfers (if you are a non-resident), so don't waste your time there. The easiest way to see which banks are crypto friendly is doing your homework and figure out the banks that the crypto exchangers use. You can start with Kraken, etc
 
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