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Not just plans. There will be a 2% tax on profits for two years, starting with this years profits. But there are easy ways around it, especially with crypto trading.
Please elaborate.
Reading in between the lines it now comes across to me as not reporting crypto assets.
Ok, so my thought process isn't too far off. All I can say is that Estonia doesnt have a very good reputation when it comes to crypto's in general. And that means they will emphasise chasing it when its blatant evasion. Personally I think there are then better jurisdictions to "perform that trick" than Estonia.Lets just call it creative accounting.
Profit is such a mallable number in financial statements.
Each case is different, so no point in going into much more detail here.
Good luck
Like what? Can you give me some examples?Ok, so my thought process isn't too far off. All I can say is that Estonia doesnt have a very good reputation when it comes to crypto's in general. And that means they will emphasise chasing it when its blatant evasion. Personally I think there are then better jurisdictions to "perform that trick" than Estonia.
Good luck
Until very recent Estonia was the to-go-to jurisdiction for crypto scammers. In the broadest sense of the word.
This came from Estonia being the new kid on the block and lax with implementation of regulation. This got exploited by many many scammers. As a result Estonia is now doubling down on everything because of the pressure of mainly the EU. What was supposed to be a way of making a s**t ton of money for them ended up as a nightmare.
Best would be any country that allows you to enter and reenter continually on a tourist visa. If you work remotely and get paid in crypto, why get any sort of visa? There are a number of countries that don't care as long as you exit once in a while and then come back in.
And if you have a strong passport (EU and one from LATAM) this would work for a long long time. Is it sustainable permanently? I have my doubts. The moment you settle down because of family, kids, work, health or other reasons the above wont work. For as long as you can live the nomad lifestyle being a Permanent Tourist is likely going to work quite well provided you moved first from your high tax to a low or no tax country before starting the nomad lifestyle as to avoid back taxes from your home country the moment you resurface somewhere.
I’ve been told that setting up an LLC in Delaware or New Mexico can be beneficial, especially for digital nomads. But I’d be curious to hear if you’ve actually done it or what you’ve found out?
That’s true as long as you're not subject to taxation in the country where you're currently residing. An LLC is a pass-through entity, meaning you're not taxed in the U.S., but rather in the jurisdiction where you operate from, and often where you live.
I assume "this" means being able to get a visa. No, you don't need substance. Many countries will ask for proof of income in form of tax receipt. Hence, you just need to file taxes somewhere. If you choose a jurisdiction where there is no tax on it and it also is not reportable, it probably won't work.
Substance is only an issue when your passport country / countries is / are keen on collecting taxes from you.
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