When you’re a serious investor, you are literally programed to think in the future; predicting what is going to happen next is how you put food on the table. The main issue for crypto investors in America is that the future of the industry has never been as uncertain as it is right now. In a doomsday scenario where Gary Gensler and Elizabeth Warren get exactly what they want…what are you going to do, trade stocks? I know exactly what I’m going to do…I’m leaving. And THIS is where I’m going to go. Pack your bags, and let’s get it!
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All of our videos are strictly personal opinions. Please make sure to do your own research. Never take one person’s opinion for financial guidance. There are multiple strategies and not all strategies fit all people. Our videos ARE NOT financial advice. Digital Assets are highly volatile and carry a considerable amount of risk. Only use exchanges for trading digital assets. Never keep your entire portfolio on an exchange.
Sources:
https://www.cnbc.com/2023/06/06/sec-chair-gensler-doubts-the-need-for-more-digital-currency.html
https://www.sproutasia.com/blog/personal-income-tax-guide-singapore-2023#:~:text=Therefore%2C%20you%20will%20be%20taxed,and%20donations%20to%20save%20tax.
https://www.numbeo.com/cost-of-living/rankings_by_country.jsp
https://www.numbeo.com/cost-of-living/rankings_by_country.jsp
https://finbold.com/el-salvadors-volcanic-bitcoin-city-wins-international-architectural-design-award/
https://bitcoinist.com/el-salvador-signs-law-tax-innovations-for-bitcoin/
https://www.nasdaq.com/articles/el-salvador-to-exempt-foreigner-investors-from-tax-on-bitcoin-price-gains-2021-09-13
https://worldpopulationreview.com/country-rankings/crime-rate-by-country
https://www.the2022actsociety.org/tax-incentives/act-22/
https://www.numbeo.com/crime/rankings_by_country.jsp
https://www.numbeo.com/cost-of-living/rankings_by_country.jsp
https://residencies.io/residency/puerto-rico/temporary-residency/pr1
https://www.vara.ae/en/
https://www.youtube.com/watch?v=-kSk5VMDVeQ
https://www.numbeo.com/crime/rankings_by_country.jsp
https://www.numbeo.com/cost-of-living/rankings_by_country.jsp
https://www.macrotrends.net/countries/ARE/uae/crime-rate-statistics
https://gulfnews.com/uae/crime/uae-crime-rate-plummets-63-in-dubai-1.93223594
https://cointelegraph.com/news/bermuda-becomes-first-govt-to-accept-tax-payments-in-usdc-stablecoin
https://www.coindesk.com/business/2023/04/20/crypto-exchange-coinbase-receives-license-to-operate-in-bermuda/
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When you're a serious investor you're Literally programmed to think in the Future predicting what is going to Happen next is how you put your food on The table the main issue for crypto Investors in America is that the future Of the industry has never been as Uncertain as it is right now in a Doomsday scenario where Gary Kinsler and Elizabeth Warren get exactly what they Want What are you going to do trade stocks I know exactly what I'm going to do and I'm going to be leaving And this might be where I'm gonna go Pack your bags let's get it [Music] [Music] We'll get a bit more crypto my name is Ben in this video we're going to talk About the most crypto friendly countries In the world and where I might go in the Case of a crypto Apocalypse in America All right let's get into the video all The sources by the way will be in the Description down below It's no secret that when it comes to Crypto here in America tensions are high People are scared and many people are Wondering what they should do if Regulators push crypto Innovation Outside of our borders unfortunately for Us the battle for crypto regulation has Never been as volatile as it is today
We've just witnessed the next phase of Operation choke point 2.0 commence as The SEC has gone after binance and Coinbase with these new regulation by Enforcement type cases the SEC is also Trying to call as many all coin Securities as they possibly can it's Egregious it's greater projects and Exchanges pleaded with politicians or Clear and transparent rules for the Court of space according to Gary Gensler There's been Clarity for years look I Think there's been Clarity for years Well I remain optimistic the dirty Geary Dictator show will come to an end Hopefully this year we still have to Prepare for the worst and by that I mean You might have to leave the country this Isn't as simple as going on vacation for A few weeks this is a massive Life-altering decision so we have to Take it very seriously with that being Said we have to consider the pros and Cons what the tax situation is what's The cost of living what's the crime rate Stuff like that Obviously there are other countries with Favorable tax situations that didn't Make the list but if it didn't make the List there's probably a reason why We're going to begin by talking about a Few countries before I get my top picks And with these countries I will include Why I likely won't end up there these
Countries include Malta Germany Malaysia Switzerland and the Netherlands These countries have initiatives that Welcome and encourage crypto and crypto Regulation they're not villainizing it Like they are here in the United States And the rules are better there than here But broadly speaking there's a major Factor holding all these countries back The factor is day trading don't get me Wrong if you're a huddle type of Investor you may want to consider some Of those countries but if you're an Active day trader like myself these Countries probably aren't for you Countries like Germany and Malta if you Hold your bags for at least a year then You won't have to pay a penny in capital Gains when you finally sell This is very bullish but in the same Breath if you hold for less than a year You'll be taxed also in Germany if you Hold for less than a year and your Profit per trade is less than 600 euros Then you would be exempt but you know me I'm not moving to Germany over six Hundred dollars what I could be doing 32x longs let's keep it rolling Countries like Singapore and Switzerland Are often popular tax Havens for crypto Investors they're both very wealthy Countries They have lenient rules and both have Regulation that encourages crypto first
Let's look at Switzerland which is one Of the ogs in the crypto space back in 2018 Swiss banks were the first to allow Crypto companies to open up shop Switzerland is also home to Zug also Known as crypto Valley where countless Startups and crypto found their footing Ethereum and cardano just to name a few Here's the thing though each region also Known as a Canton has different rules And regulation in crypto but most of Them are very friendly especially when You compare them to the United States The drawback here is the difference Between what they Define as private or Professional investors private investors Do not pay capital gains but Professional investors do the difference Is based off volume and frequency since My volume and frequency would make me a Professional investor I would still have To pay 35 on my profits on what they Call taxable dividends sorry Switzerland I'm out Unfortunately the situation is similar For Singapore although Singapore treats Crypto as a barter system and not as a Form of pavement and they also offer Zero percent capital gains tax they have The same drawback day trading if you're A day trader you would have to claim Your profits as income and pay somewhere Between 15 and 22 percent all in all Switzerland and Singapore aren't the
Worst choices in the world but also keep In mind they're ranked second and Seventh in the cost of living index as Well you need to have a lot of money to Live comfortably there For reverence the U.S ranked 16th now Make sure to rank this video number one By Smashing the like button and Subscribing to the channel to get more Crypto news and education [Applause] [Applause] [Applause] No discussion about large sums of money Is complete without talking about the Caribbean in the top places on my list For crypto friendly countries are Bermuda and the Cayman Islands for their Own reasons let me break it down Bermuda it's a tax and crypto company Haven they have some of the best legal Frameworks for setting up a crypto Company in the world it's also a plus That individuals in the country do not Pay personal income tax There's also no tax on buying or selling Or holding crypto same for payments it's Legalized and not subjecting tax Bermuda Was one of the first governments to Allow stable coins for tax payments Bermuda is such a hotbed for crypto that Even coinbase setup shop there earlier This year Cayman Islands have been popular for
Large corporations High net worth Individuals for decades and most of that Is due to the fact that they have zero Capital gains income property payroll Withholding or sales taxes just the way It should be Setting up a business on the Cayman Costs as little as three thousand Dollars with a yearly renewal of six Thousand dollars In setting up a business is the way to Go since residency is hard to come by And can cost over one hundred thousand Dollars some cases a million dollars for The privilege these Island paradises are Fantastic but have one big drawback Bermuda and came into ranked number one And number three for cost of living Yikes Nara will mention of course here is El Salvador and it's Bitcoin Maxi totally Not a dictator president najib bukele They're going to build a Bitcoin city Which is going to be powered by a couple Of volcanoes in a Bitcoin Beach where You can buy fruity drinks with satoshi's President bukali is all about breaking The wheel and has made lots of progress In making El Salvador independent from The banking vultures the proud Central America on May 4 2023 President bukali Signed into law the complete removal of Business taxes from Tech businesses That's a major play for one of the
Biggest ways to drive economic growth in Addition to government bonds backed by Bitcoin and zero capital gains taxes on Bitcoin El Salvador is great if you're a Bitcoin Maxi but if you have a bag of Ado or ethereum you aren't going to have A great time Next are my top two choices for where I Would move in a crypto apocalypse First Puerto Rico U.S territory that has Unique tax privileges in the U.S we pay Up to 37 on capital gains depending on The tax bracket but in Puerto Rico if Certain qualifications are met the Number is dropped to Zero act 22 allows U.S citizens to be exempt from capital Gains as well as income tax also you Would only have to pay a four percent Corporate tax and while the crime rate In Puerto Rico is much higher than the US cost of living is a lot cheaper the Upside to Puerto Rico is that you don't Have to mess around with visas or other Passports since it's part of the U.S the One catch is that you only have to be Physically present in Puerto Rico 183 Days out of the year to be considered a Resident but at the top of my list of Crypto friendly countries it has to be The United Arab Emirates or the UAE of Course it's Crown Jewel Dubai the UAE Knows the digital assets of the future And has taken huge steps in making Dubai A hub of crypto influence and Innovation
For evidence of that look no further Than the first crypto regulation body of Its kind Vara Vara this kind of legal Clarity and Proactive governance is exactly what Makes crypto flourishing Dubai top of The responsible leadership there is no Income tax no capital gains tax no Corporate tax and only a five percent Value added tax or a vat for goods and Services Compared to Puerto Rico or the U.S crime Is much lower in Dubai and on top of That cost of living is lower than the US So your gains go further look I Definitely don't want to leave my own Country but in the trend of oppressive And irresponsible monetary policy Continues those of us in crypto who Value Freedom are going to have to Explore all the options we have to make Our families lives better That's all I got be blessed Thank you [Applause] Foreign [Music]