Travelling the world as a crypto trader - advice needed

[Ginnz]

I am currently regarded as a soletrader in the UK & getting hammered on the tax front because of my trading activities. Annoyingly the exchanges I use most are derivatives which are not FCA regulated in the UK. This complexes my tax situation & ability to trade/hedge as effectively as I would like. As the UK is never likely to change their framework on trading unlicensed derivatives I really need to move.

My plan at the moment while I am young is to get out to see the world while minimising my tax burden. Looking at various routes & I think I've come up with a plan:

1 - Set up a UAE company with banking done in Europe
2 - Put all trading activities & profits through the company
3 - Travel the world with my savings taking minimum salary making sure to plan around all tax jurisdictions & be classed as a non-resident in the UK
4 - When tired of travelling after a few years move to Dubai for a longer duration to acquire a tax domicile certificate.
5 - Once i have the certificate start taking profits out of the company as salary / dividends while being protected by the UAE double taxation agreements.

What does everyone think of this?

 

[negon]

UAE and banking in Europe will not work very good. You will find it very difficult to find any bank that is willing to open an account in the EU for your UAE company. I don't know which EMI provider for sure will but that may be better options for you.

Otherwise your plan seems to be valid.

 

[Ginnz]

UAE and banking in Europe will not work very good. You will find it very difficult to find any bank that is willing to open an account in the EU for your UAE company. I don't know which EMI provider for sure will but that may be better options for you.

Otherwise your plan seems to be valid.

A few companies have come up with a plan with banking, although it is not cheap compared to a usual company.

Any ideas on what kind of set up I can use to travel the world without getting hammered by tax anywhere?

 

[TRAPPIST1]

Setting up anything relating to banking is complicated process in Europe. What is key is looking for countries that have high confidentiality in place.

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