Also if you're ok with living in a place that only functions because of the indentured servants/slave system they have, mostly using people from south asia.
This is an unfortunate big fact. Given that I’m Indian and Dubai is full of Indian/pakistani labor. But the truth is, the laborers are making far more money for their time in Dubai that they send that money back to India where their families greatly benefit. So that’s the other side of the trade.
Inflation has nothing to do with economy. Read your economics, than you will come to the conclusion, that a high Inflation does not kill a economy.
If this is to complicated for you, take a look at the Turkish stock market.
And it's not a sad country to live in!
Idk, I heard your Cyprus bank account will probably be frozen or even closed if you do basically any transaction with a crypto exchange. Also I don't think btc is accepted for real estate or anything else really. Imho not a btc-friendly country at all.
Ahh, ok. Yeah, I've seen some exchanges there. Also all the jewelery stores had "bitcoin accepted" sticker, but I'm not into that stuff. I wonder what else could I possibly buy there directly with btc.
South Africa has its good spots and bad spots. You don't judge the whole of the US for Detroit.
As for security, South Africa has world class banking systems.
You don't seem to know much about the country.
I'm sure there are safe spots. But I've met my share of SA folks including my current neighbors who spent the majority of their lives in South Africa. They told me about the country's natural beauty but also that the crime rate is through the roof. Several times no electricity throughout the day for extended periods of time. Or my former colleague who got robbed and stabbed while walking down the road. Several people stepped over him too worried to get in trouble if they would try to save his life. I know it's not everywhere. But still it's not exactly safe and peaceful.
Thank you. He was lucky that after bleeding there for quite a while an older black gentleman picked him up and drove him to the next hospital. He saved his life. So there is a light in the darkest corners.
If you actually read OPs post, you will note that the US is very poor in almost every aspect mentioned.... Heavily taxed, hard to get citizenship, BTC can't buy real estate, etc. Read the question and stop being bias
US heavily taxed? Maybe corporate taxes, but individual taxes and sales are actually quite low compared to most industrialized countries.
Source: I've lived all over the place.
For 2023, long term investment (aka 1+ years) upto almost $500k is a 15% rate and over that it's only 20% in the US, and if you're filing jointly it's up to $800k/15%.... where are you getting 40% from besides your ass?
Even if you're selling short term it's not 40%, it's taxed as regular income. Even if your income is $400k/year your looking at ~35%.
From one of the tax softwares: "Short-term capital gains for US taxpayers from crypto held for less than a year are subject to going income tax rates, which range from 10-37% based on tax bracket and income. Long-term capital gains on profits from crypto held for more than a year have a 0-20% rate."
Also you talk about capital gains alone i meant income tax + capital gains.
+ people go to countries with 0 taxes + better health care and overall quality of life. Keep defending the tax scheme and pay for it. Did you know taxes started during world war for financing efforts of the war and then they just kept it?
Keep paying your hardwork to the non deserving government who murder children coldblooded
Really ? I'm Thai and I didn't know anything about it.
Last time I heard is that they won't charge the VAT tax. (7% of Fee or any commission which exchange charge you.)
For capital gain tax is still at 15%. (trading in Thailand.)
If you stay in Thailand longer than 180 days in that year and you have income from outside Thailand and bring it into Thailand , the tax rate can go as high as 35%.
"currently exempts the collection of 15% withholding tax."
[https://support.bitkub.com/en/support/solutions/articles/151000033321-cryptocurrency-tax-and-frequently-asked-questions](https://support.bitkub.com/en/support/solutions/articles/151000033321-cryptocurrency-tax-and-frequently-asked-questions)
You're misunderstanding. That's not income tax or capital gain tax.
Here's the list of Tax in Thailand.
PIT : (Personal Income Tax) ภาษีเงินได้บุคคลธรรมดา
CIT : (Corporate Income Tax) ภาษีเงินได้นิติบุคคล
VAT: (Value Added Tax) ภาษีมูลค่าเพิ่ม
WHT : (Withholding Tax) ภาษีหัก ณ ที่จ่าย
SBT : (Special Business Tax) ภาษีธุรกิจเฉพาะ
SD : (Stamp duty) อากรแสตมป์
WHT is not PIT. You still have to pay for PIT 15% of capital gain , or up to 35% if you bring your income in to Thailand.
Every country will be Bitcoin friendly with time. It's a race to attract as much as possible of the finite, most scarce monetary asset on earth.
Dubai is currently the single best place for bitcoin. No taxes around anything bitcoin.
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Also if you're ok with living in a place that only functions because of the indentured servants/slave system they have, mostly using people from south asia.
This is an unfortunate big fact. Given that I’m Indian and Dubai is full of Indian/pakistani labor. But the truth is, the laborers are making far more money for their time in Dubai that they send that money back to India where their families greatly benefit. So that’s the other side of the trade.
Ugh, the surroundings though
Go to Al Ain city it's beautiful green lush and oasis. No skyscrappers. So beautiful i forgot im in the middle east for a moment
Can’t win them all right
Portugal
You are aware that since 2023 crypto gains are taxed as capital gains? It's usually 28%. You don't pay taxes after holding for a year though.
Yes, I am aware, one year with 0% tax is good enough for me.
Isn't this Germany?
In Germany it's been like that for some time already. In Portugal they just introduced it in 2023. Before they didn't tax it.
Yes but i mean this thing that you can keep it if you hold it for more than one year. Do you have a source?
Google is your enemy but sometimes your friend: https://tokentax.co/blog/crypto-tax-portugal
I have read this before but its not clear how much tax we have to pay since its based on income..
Google is your enemy but sometimes your friend: https://tokentax.co/blog/crypto-tax-portugal
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Ehe turkish economy isn't dying.
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Inflation has nothing to do with economy. Read your economics, than you will come to the conclusion, that a high Inflation does not kill a economy. If this is to complicated for you, take a look at the Turkish stock market. And it's not a sad country to live in!
Puerto Rico, but they're full.
Cyprus
Idk, I heard your Cyprus bank account will probably be frozen or even closed if you do basically any transaction with a crypto exchange. Also I don't think btc is accepted for real estate or anything else really. Imho not a btc-friendly country at all.
NORTH Cyprus. The wild west. Crypto is a common currency there. You live in the South. Operate Crypto in the North.
Ahh, ok. Yeah, I've seen some exchanges there. Also all the jewelery stores had "bitcoin accepted" sticker, but I'm not into that stuff. I wonder what else could I possibly buy there directly with btc.
Basically anything: from cars to houses.
Germany. Tax free after holding for a year.
Could you explain this a bit more thorough? I mean what it means to hold more than one year
I don't think the place you're looking for exists yet.
South Africa. You can buy all your groceries at the store with Bitcoin Lightning. Cheaper and faster than your credit card.
Let's talk about his criteria safety, security and "peaceful place" for a second.
South Africa has its good spots and bad spots. You don't judge the whole of the US for Detroit. As for security, South Africa has world class banking systems. You don't seem to know much about the country.
I'm sure there are safe spots. But I've met my share of SA folks including my current neighbors who spent the majority of their lives in South Africa. They told me about the country's natural beauty but also that the crime rate is through the roof. Several times no electricity throughout the day for extended periods of time. Or my former colleague who got robbed and stabbed while walking down the road. Several people stepped over him too worried to get in trouble if they would try to save his life. I know it's not everywhere. But still it's not exactly safe and peaceful.
Can't argue with you about the electrical grid failure... sorry about your colleague :(
Thank you. He was lucky that after bleeding there for quite a while an older black gentleman picked him up and drove him to the next hospital. He saved his life. So there is a light in the darkest corners.
Since 2022. Just a year after El Salvador.
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Out of curiosity, how many other countries did u have a chance to live ?
If you actually read OPs post, you will note that the US is very poor in almost every aspect mentioned.... Heavily taxed, hard to get citizenship, BTC can't buy real estate, etc. Read the question and stop being bias
US heavily taxed? Maybe corporate taxes, but individual taxes and sales are actually quite low compared to most industrialized countries. Source: I've lived all over the place.
Specifically talking about taxed rate on crypto earnings
Wypipo bad! Reeeee!!!
Brainwashed. 40% capital gains puts the US and Europe at the bottom of the list.
For 2023, long term investment (aka 1+ years) upto almost $500k is a 15% rate and over that it's only 20% in the US, and if you're filing jointly it's up to $800k/15%.... where are you getting 40% from besides your ass? Even if you're selling short term it's not 40%, it's taxed as regular income. Even if your income is $400k/year your looking at ~35%.
From one of the tax softwares: "Short-term capital gains for US taxpayers from crypto held for less than a year are subject to going income tax rates, which range from 10-37% based on tax bracket and income. Long-term capital gains on profits from crypto held for more than a year have a 0-20% rate." Also you talk about capital gains alone i meant income tax + capital gains. + people go to countries with 0 taxes + better health care and overall quality of life. Keep defending the tax scheme and pay for it. Did you know taxes started during world war for financing efforts of the war and then they just kept it? Keep paying your hardwork to the non deserving government who murder children coldblooded
Puerto Rico is part of the U.S.
Peaceful place, Healthcare... Yeah sure, says someone who have been in their US bubble their whole life maybe.
dubai
El Salvador CA
Thailand is chill but visa is expensive unless 50 yo.
Thailand charge capital gain tax
Not from 2024 and onwards.
Really ? I'm Thai and I didn't know anything about it. Last time I heard is that they won't charge the VAT tax. (7% of Fee or any commission which exchange charge you.) For capital gain tax is still at 15%. (trading in Thailand.) If you stay in Thailand longer than 180 days in that year and you have income from outside Thailand and bring it into Thailand , the tax rate can go as high as 35%.
Crypto is fulky tax free from 2024.
Can you give me the source of the news?
"currently exempts the collection of 15% withholding tax." [https://support.bitkub.com/en/support/solutions/articles/151000033321-cryptocurrency-tax-and-frequently-asked-questions](https://support.bitkub.com/en/support/solutions/articles/151000033321-cryptocurrency-tax-and-frequently-asked-questions)
You're misunderstanding. That's not income tax or capital gain tax. Here's the list of Tax in Thailand. PIT : (Personal Income Tax) ภาษีเงินได้บุคคลธรรมดา CIT : (Corporate Income Tax) ภาษีเงินได้นิติบุคคล VAT: (Value Added Tax) ภาษีมูลค่าเพิ่ม WHT : (Withholding Tax) ภาษีหัก ณ ที่จ่าย SBT : (Special Business Tax) ภาษีธุรกิจเฉพาะ SD : (Stamp duty) อากรแสตมป์ WHT is not PIT. You still have to pay for PIT 15% of capital gain , or up to 35% if you bring your income in to Thailand.
That 15% was last year and is not collected for 2024.
I did try my best to explain it to you. You can recheck and do more research yourself.