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I think it depends purely on the banking system in the country that the new property is located at, doesn’t it?
thanks will take a look - probably clear from the above that “know exactly what you’re doing” is definitely not me 😛
cd9d
Can help with UK
oacsgzy Definitely does.

<@U0G0JDME3> Cool! I'm open to anywhere.
What to do with a bunch of Euros in a Revolut account? :thinking_face:
Just had a refund from an airline. The plane tickets were paid for in £ but awkwardly the airline could only refund in €.

1) Invest it into stocks via Revolut? Oddly the stocks part wants my National Insurance number to do that.

2) Buy Crypto via Revolut?

3) Transfer to another platform to do 1 or 2?

Not keen on transferring it into £s. Just in case it gets confused with “potential income” & taxed.
They’re only on 212 as CFD’s, hopefully now they're compliant they’ll be listed as invest and ISA soon
> 2) Buy Crypto via Revolut?
no, you can’t withdraw. Not your keys, not your coins.
> 3) Transfer to another platform to do 1 or 2?
yes
The currency wouldn't change its income status
If it’s very evidently a refund on something you paid for you should be fine
Oh, that's so annoying, sorry! I just skimmed the email and assumed you could buy them directly 😞
Thanks for the warning on Revolut! Why would they not want you to withdraw crypto? :flushed:
Which one do you use?
Originally wanted to use the Euros to pay for things abroad in Euros
I think even HMRC should be sophisticated enough to distinguish between a refund and income
Wealthify vs Nutmeg vs Evestor

Which would you recommend for a stocks & shares or investment ISA? Or would you split the yearly allowance between them all?

Tempted to put an equal amount in each one to see how they compete.

Or let us know if there’s another platform out there you would recommend.

Referral codes with benefits are welcome!
jmmbnqndn HMRC shocked us when they classed money owned for shared Airbnb as income.

It was a transfer of American dollars from one person’s personal Revolut account to another even with the reference “Money owned for Airbnb”

Maybe it looked sus because it was transferred every month for a year during the trip abroad. 🤔
I can get 20-40% down payment as a foreigner in Taiwan from a local bank; you need to be on payroll, paying tax, intent to stay long term. The banks are afraid of people leaving the country if housing market crashes and not repaying debt. If you have a significant other who is a local, it’s easier to do the mortgage through them.
yesterday while doing my quarterly taxes my accountant to me that now, since i'm not spending more than 180 days in any country in the world (i'm switching every month or two), i could stop paying income taxes in my home country and not pay them anywhere, no country would try to get them as i'm not a fiscal resident anywhere

time to take a step forward or fire my accountant?
Depends on your country of residency
Some countries (like the US) tracks their citizens all over the world, some other countries ask for a proof that you settled somewhere (by showing proof that you are paying your taxes elsewhere) to stop taxing you in the previous country, some other countries will be like Gone for more than 180 days? No problem, stop paying taxes etc...
country of residency is spain, i can easily provide proof that i'm not there, but not that i'm paying taxes anywhere else as i wouldn't become a resident anywhere
If you have an accountant it's probably for a business so if your business is incorporated in the same country as your country of residency and your assets and the one from the company are separate then then you might get away by paying no taxes at an individual level but at the company level you'll still owe taxes
that's fine
so you're saying it's actually doable? not paying taxes anywhere? i thought my accountant was crazy
i mean income taxes of course
if your assets and your business are one and the same and you are only taxed at the individual level then you might get away with 0 taxes to pay (again, it depends on the situation, not financial advise)
> so you're saying it's actually doable? not paying taxes anywhere? i thought my accountant was crazy
He's not crazy, it's entirely possible lol
done the right way
i'm taxed at both levels, my business is incorporated in spain so that's out of discussion, it's my individual ones i'm concerned about
I'm a living example lol
pm'ed you, this is interesting
Another living example here, your accountant is not crazy, but do double check that he knows this stuff.
Same. Done that for 3 years. Depends on your citizenship and maybe former country of residence.
I’ve heard of nomads getting hit for years of back-taxes because their citizenship country found out they weren’t paying taxes anywhere
It’s a dangerous game. High risk, high reward
only if it's illegal 😄
I mean legal tax avoidance, not hoping no one finds out
some countries have a limited number of years that they backtrack the taxes. as far as I know Russia only punishes people for the last 3 years of personal taxes. so basically what you didn't pay 5 years ago doesn't matter. but should be investigated more thoroughly
Law is precedence-based and enforcement is complaint-driven. The trickier you make your tax situation the more chances there are someone is going to get you in trouble
You can always be the new precedent, so there’s no such thing as zero risk
Do your research, talk to accountants (multiple), understand your threat model, and make an educated decision based on how much risk you’re ok with
well the thing is that i wouldn't like to risk anything, i don't want to make a silly move, if this is not legal and shouldn't be done, i won't do it
Ideally you want to play this game by running as much of your economy through a company and paying yourself as little as possible. This way you are just not worth a tax investigation even if your home country suddenly decides to check up on you. Of course everything needs to match so not all lifestyles and contexts make it possible and you probably don’t want to do it for the rest of your life. Also that company should not be in your home country and needs to have other revenues channels than you performing services. A good accountant is definitely needed.
It’s legal, just very easy to misstep and do something that makes it illegal.
(Also depends on which countries are involved in the equation)
exactly
"home" country (where i'm currently paying my income taxes) is spain by the way, and i'm not spending over 90 days anywhere else in the world, so in theory it shouldn't be that hard
Also 100% possible as a German citizen. The most important aspect is to have no local ties, no company, no empty apartment waiting for you, no club membership etc. Some people who want to be extra cautious become a tax resident somewhere else first and then leave from there. So my setup was this + US LLC + perpetual travel.
The most famous case in Germany about this was Boris Becker who fucked this up 😄 www.dw.com/en/boris-becker-admits-mistake-on-taxes/a-660325 "Becker had claimed that he had lived in the tax haven of Monaco from 1991 to 1993. But Becker -- who was on a grueling travel schedule at the time -- also had an apartment in Munich where he occasionally stayed."
There are all kind of rules depending on the country. French people who want to expatriate to Monaco for instance must still pay taxes to France lol
it only applies to French people 😛
weird, maybe because it's too easy to claim Monaco but still live in France all the time
yep aha
every country has its own set of rules
Persons residing in Monaco (except French nationals) do not pay tax on income, on betterment or on capital. For French nationals, two distinct categories exist :
• French nationals who can prove that they resided in Monaco at least 5 years before October 31, 1962 are subject to the same system as other nationalities.
• Other French residents are subject to French income tax collected by the French administration.
i.e As a French, forget Monaco 😅
yeah that's clear cut
Your residence tends to stay where it is until challenged by another country, so as long as you’re nowhere longer than 180 days, no one is fighting your residence country for your tax dollars. That’s not always true, but I’d still consider it a safe general rule
One tricky part of this is the company. For example, UK company residency observes two rules (i) country of incorporation (ii) country where the individuals carrying out management & control reside. So if you become non tax-resident in the UK, it’s possible for the company to lose UK tax residency too, causing exit taxes to be due (and the possible need to incorporate wherever you are spending most time or are caught by incorporation rules). And the UK is not an outlier with this.
One workaround is to get another director in the UK, but it’s not foolproof.
A floating company is not a thing.
I can talk about Canada (for any Canadians here). It is highly valuable to have a corporation. Run anything you can justifiably can through your company, in my situation that is internet, phone, electronics, travel insurance and if you can validate travel for work, you can even run through accommodations/airline tickets.

For health related things get an HSA for stuff not covered by OHIP. The way an HSA works is that you pay the fees yourself (dentist, medication, etc..) and then you claim it with the HSA and you are reimbursed through the HSA. This ends up being much cheaper than just paying yourself more to cover these costs. I used www.olympiabenefits.com/.br />
If you are paying yourself through a corp that also opens you up to give yourself remote worker status to avoid physical presence requirements as well as let you go for all kinds of grants etc..
They can make you tax resident in Spain even if you have a motorbike registered there under your name. You can complain later and most likely you’ll win, but for a few years until its resolution you’ll pay the tax or they’ll froze whatever they can get hold off
If your tax bracket isn't super high, or your personal income is relatively low, you can setup payroll and your personal taxes becomes a T4.
This is actually why I originally did it because I hated doing taxes or getting hit with huge tax bills at the end of the year.
I successfully did a SRED claim on the money I paid myself through a corp and had the government give a 15k cheque (this was awhile ago now).
It's also just good if you may actually want to put on employees in the future.
oh man... well i have nothing in spain, no contracts, nothing, only a bank account that i'm happy to close... luckily my incomes come from abroad, outside of europe
That sounds pretty good then. Spain has already been reported multiple times to EU courts for pulling this kind of tax-related shit, but seems there’s still a few years to go until is striped out entirely
I might be late for this conversation but I’ve lived without a tax residency for about two years, but later I started to research some better options and ended up becoming a tax resident in Portugal, so now I still don’t have to pay taxes (for 10 years) but if someone asks I’m a tax resident somewhere.

This is not an advice to move your residency there, as you’d have to check if their requirements apply to you... but this setup works fine for me.
Just a quick reminder for my fellow Brazilian citizens and nomads that end up establishing tax residency in Brazil (gap year during the pandemic?) that Brazil requires you to notify the Brazilian tax authorities when you're no longer a resident. Otherwise, you'll continue to be liable to Brazil for income earned worldwide. The term you need to research is "Declaração de Saída Definitiva do País".

I don't have any lawyer or accountant recommendations, so please make sure you do your research about this. I'm aware of at least one case where the Brazilian tax authority fined a person after she returned to Brazil after living abroad for two years without taking care of this.
Not an expert, but for what I've read several times, to stop being a tax resident in your own country, you should become a tax resident elsewhere. Otherwise the Spanish government can clain that you've been on holidays the whole year, but that you still live there. I know people who went to Paraguay, got the permanent reaidency there, and then been travelling, but they expect it to help. In practice I guess if Spain doesn't know about your income, it's difficult that they ask you for anything. So if it's coming from the EU, they may have access, if it's coming from North Korea, they'll think you don't have any income I guess.
> you should become a tax resident elsewhere. Otherwise the Spanish government can clain that you’ve been on holidays the whole year, but that you still live there.
Yep, this is the gist of it. If they have knowledge of income, or assets that could be taxed (for example through the automatic tax info exchange between x countries) and you haven’t filled a 030 that specifically says that you’re paying elsewhere ( needs proof ) they could try to tax you, otherwise they’ll pass. Or for example if they actually have to return you money they’ll pass as well haha. In my case I’m Spanish so is a bit harder to get out of the hook 😅
what do you mean about not being able to withdraw UD5FB1T7H?
What is your go-to payment provider solution for implementing credit card payments for a german Nonprofit? I’m done with PayPal. Ive spent months opening the account and I just let them know to go f themselves basically. I know there are others, like Stripe and such and I wanted to check in here if you have any recommendations. The audience will basically be 100% german/european I think.
ckgwjtxfd revolut allows only trading within their platform, you can’t withdraw coins to external wallet
so it’s simply stupid 🙂 the whole point of crypto is you’re sovereign with your funds, power of cryptography
wyhpwmjvudkwyadpbd generally the best way to buy crypto is OTC (over the counter) directly from someone or via BTC ATM or via kycnot dot me (nomadlist removes my link) or similar, so there’s no linkage anywhere in goverment books
but if you want easy path then binance for example
gudmvtbtdx The only reason anyone should use paypal is if their audience potentially doesn't have credit cards because paypal can be funded through 7-11s etc..
PayPal sadly is the most popular option in germany, by far 😞
I don't know your audience but that is something you should be aware of, that's the only reason I still have the shackles of paypal.
Germany is a bit backwards when it comes to these things, very few people even have credit cards. Klarna seems to be a popular service that you could check out, but I don't have any first-hand experience
lrwwjmjgaovtueem How do people shop on amazon?
Mostly direct debit, I believe
dhkeurkhjaaqiefol credit cards are way less widespread in Europe. the default in Hungary is also debit cards
When I worked at Zalando, invoice was also a very popular payment method 🙈
Then again as an american here in portugal, I paid for my lunch and had to sign for my credit card. The guy from poland i had lunch with today thought I was old school and said he had been using contactless for over 10 years..
well, Germany is also behind on _that_ lol
they love their cash somehow
Ya Canada also has the tap for credit cards
> they love their cash somehow
it might be that the banks just charge a lot for credit card processing so it's cheaper to accept cash. otherwise I can't explain abundance of custom payment systems in Europe EC, Klarna, whatever they do have a lot, seems like each country has one
> thought I was old school and said he had been using contactless for over 10 years
again, it might have to do with money actually ... as everyone should be using chipped cards, not swipes but it would cost a lot to upgrade all the swipe terminals in the states for the new technology so I guess that explains the lag behind
I find similar stuff with the DSL internet -- it costs a lot to upgrade old lines so they tend to stick for a long time whereas some countries making new lines can actually invest into the new technology from the day 0 (i.e fiber optics project in Chile)
Learn from the pros. 🤩
Holy f…. I’ve been haggling around with PayPal for MONTHS to get a nonprofit account working for donations. A few days ago after it STILL not working because of some random verification sh… (I supplied ALL the documents multiple times) I wrote them an angry email that they can go f themselves. Then literally 4 hours ago I created an account for Stripe, and just made my first working credit card donation. I never realized HOW bad PayPal really was. I mean I knew they were bad, but months vs hours….jeez.
That has to be the smoothest onboarding for a payment provider I ever experienced 🤷‍♂️
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