ZERO Crypto Taxes in 2 Weeks (Secret Country) | Summary and Q&A

TL;DR

Barbados offers a legal way for crypto investors to achieve tax residency and pay 0% taxes, without the need to live in the country for 183 days per year.

Key Insights

• 🚕 Barbados offers a unique opportunity for crypto investors to achieve tax residency and pay 0% taxes legally.
• 💦 The process involves creating a non-crypto-related company, obtaining a work permit, and obtaining a residency permit and tax number.
• 🚕 Barbados has no crypto gains tax, no wealth tax, no inheritance tax, and a low corporate tax rate of 9%.
• 🌍 It is a convenient option for investors from Canada, the UK, Europe, and Latin America due to accessible flights.
• 🚕 Barbados is not a commonly associated jurisdiction for tax evasion or citizenship by investment.
• 🉐 Individuals can cash out their crypto gains in Barbados or other CIan jurisdictions, but caution is advised with online platforms.
• 🥵 It is important to consider the slower pace of life, extreme heat, and smallness of the island when considering Barbados as a tax residency option.

Transcript

if you want to pay 0% crypto tax legally and you don't want to go to Dubai or to any other taxfree specifically for crypto country you don't want to stay in Europe you want to find somewhere off the beaten path that is also fast it's not a place you need to live 6 months a year and you can do all of this legally it's not Malta it's not Cypress it's... Read More

Questions & Answers

Q: How can individuals become tax residents of Barbados without living in the country for 183 days per year?

By creating a non-crypto-related company in Barbados, obtaining a work permit as the director, and obtaining a residency permit and tax number.

Q: What are the tax benefits of becoming a tax resident of Barbados?

Barbados offers no crypto gains tax, no wealth tax, no inheritance tax, and a low corporate tax rate of 9%.

Q: Can individuals cash out their crypto gains in Barbados?

Yes, individuals with tax residency in Barbados can cash out their crypto gains in local Barbadian banks or other CIan jurisdictions like Bahamas or Cayman Islands.

Q: Are there any restrictions on spending time in the individual's home country after obtaining tax residency in Barbados?

Yes, individuals must be careful about spending too much time in their home country to avoid continued taxation.

Summary & Key Takeaways

• Barbados allows foreign individuals with a valid residency permit and tax number to become tax residents without living in the country for 183 days per year.

• The process involves creating a non-crypto-related company, obtaining a work permit as the director, getting a residency permit, and then applying for a tax number.

• Barbados offers no crypto gains tax, no wealth tax, no inheritance tax, and a low corporate tax rate of 9%.