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Things to do before telling my EU-country I am emigrating?

DaveFischer

New member
I have already decided that I do these things before officially emigrating from Northern Europe to Southeast Asia:
  • Open a N26 bank account
  • Open a Transferwise bank account
  • Request Estonian e-identity
Any other things that I should do now, while I'm still officially a citizen and tax resident in the EU, as they become harder after emigration?
 

Joe Blasco

Active Member
I have already decided that I do these things before officially emigrating from Northern Europe to Southeast Asia:
  • Open a N26 bank account
  • Open a Transferwise bank account
  • Request Estonian e-identity
Any other things that I should do now, while I'm still officially a citizen and tax resident in the EU, as they become harder after emigration?
have renew all your ID documents if possible, so to have maximum validity period ahead...
 

Joe Blasco

Active Member
have renew all your ID documents if possible, so to have maximum validity period ahead...
actually 20 years ago when an adress was included, it was better to change your passport abroad from the consulate, as proof was immediatelly recorded on the passport that you were citizen but not resident. Now you want to do the opposite because in some time you will have problem with your residency ID as it is usually connected to the passport number and if you have a 5 year validity on passport is a problem...
 

anotherone

Mentor Group Gold
Usually, in your EU country, there is a dept at your tax authority for non-resident. You must send them a letter to mention that you leave. For example, in the past, I moved from Europe to Canada. I sent a letter to the tax authority. It was really handy because I had no problem with the tax residency afterwards.
As people say, renew your ID or passport even if it is not necessary. i let you find a way to do it. There is nothing worse than waiting in a queue at an embassy to wait for renewing your passport.
 

nomad999

Active Member
Get revolut and a physical card, very very handy to manage foreign currency for cheap and cost nothing except delivery fees for the card, i believe they will be less annoying with kyc than n26 in the long run.

Get the physical card from transferwise, as many physical cards as possible.

Close your regular EU bank account in your country and open one in another like switzerland, will be easier and you can change the residence and tax id later to avoid reporting.

Open brokerage account and crypto exchange account if not done already, especially coinbase. kraken wont request kyc update for instance as opposed to Binance that cancelled my kyc after connecting from asia repeatedly.
 

Joe Blasco

Active Member
Usually, in your EU country, there is a dept at your tax authority for non-resident. You must send them a letter to mention that you leave. For example, in the past, I moved from Europe to Canada. I sent a letter to the tax authority. It was really handy because I had no problem with the tax residency afterwards.
As people say, renew your ID or passport even if it is not necessary. i let you find a way to do it. There is nothing worse than waiting in a queue at an embassy to wait for renewing your passport.
I am afraid it is not simple as this. AFTER emmigrating and obtaining residency and tax residency one must return and present the relevant documents to the tax authority with a petition to join the non resident department.
 

Martin Everson

Offshore Retiree
Mentor Group Gold
Elite Member
Any other things that I should do now, while I'm still officially a citizen and tax resident in the EU, as they become harder after emigration?
Cut all economic ties with your EU home country and let your taxman know you have escaped....sorry I mean left.

Congrats on your future move.
 

jscargo

New member
Sorry about my insurmountable ignorance, BUT - shouldn't you leave BEFORE and open bank accounts and whatever after? Most accounts will require a tax ID and an address to open when you open it, you will put the one in your EU country, then you go to Vietnam, fill up a boat full of hookers, and all the expenses are tied to your address and tax ID in your EU country.
My advice is, close everything first and leave (with a proof that you are out of the system), move to another base, acquire residency and a tax ID there, open bank accounts....
 

Joe Blasco

Active Member
Sorry about my insurmountable ignorance, BUT - shouldn't you leave BEFORE and open bank accounts and whatever after? Most accounts will require a tax ID and an address to open when you open it, you will put the one in your EU country, then you go to Vietnam, fill up a boat full of hookers, and all the expenses are tied to your address and tax ID in your EU country.
My advice is, close everything first and leave (with a proof that you are out of the system), move to another base, acquire residency and a tax ID there, open bank accounts....
if somebody wants to be harassed by every low level employee in a bank and make useless trips back and forth to the country of his residence, for a piece of paper that may be missing that is the preffered way to go...
 

jscargo

New member
Absolutely incorrect, it seems that you do not have experience in the field.
1 - most banks won't deal with you if you don't have a country of residence and a tax ID.
2 - if you open bank accounts and after you change your residence to nowhere, at the first bump be prepared to have your assets frozen until you provide the documents they want and you do not have.
3 - an option would be, make the accounts with your current residence, then, change it, and tell the bank about your new residence and new tax ID, but many services will then just close your account (if the service is only for EU residents and you are living in Malaysia for ex)

You need to decide where you will be a resident and have all your accounts tied to this residence/tax ID. If you are from Finland(for ex) and your address on the bank is in Finland and all of the sudden you are receiving substantial funds in it, it is a risk. That is especially the case if you are not a tax resident anywhere.

Forget about being a perpetual traveler without a residence anywhere if you want to have peace of mind and active accounts.
 

Joe Blasco

Active Member
Absolutely incorrect, it seems that you do not have experience in the field.
1 - most banks won't deal with you if you don't have a country of residence and a tax ID.
2 - if you open bank accounts and after you change your residence to nowhere, at the first bump be prepared to have your assets frozen until you provide the documents they want and you do not have.
3 - an option would be, make the accounts with your current residence, then, change it, and tell the bank about your new residence and new tax ID, but many services will then just close your account (if the service is only for EU residents and you are living in Malaysia for ex)

You need to decide where you will be a resident and have all your accounts tied to this residence/tax ID. If you are from Finland(for ex) and your address on the bank is in Finland and all of the sudden you are receiving substantial funds in it, it is a risk. That is especially the case if you are not a tax resident anywhere.

Forget about being a perpetual traveler without a residence anywhere if you want to have peace of mind and active accounts.
when fantasy, is taking over reality, it is a matter of psychiatry not banking nor residency or citizenship programs. If there is such a fool who wants to follow your nightmares , I wish him good luck...
 

Admin

Forum Moderator
Staff member
Elite Member
I'd try to open as many bank accounts as possible.
You might use some, but some accounts will survive!
I'd also go for Revolut and similar.
That's really a good idea, if you have your banking in place before you move anywhere and all is verified it will take most banks a very long time before they will ask for reverification documents. Most often it would be possible to just show them a new utility bill and they won't ask more. There are always exceptions so don't take it as it apply for all banks, but many.
 
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