Monaco is known to be tax haven for millionaires and billionaires. Being one of, if not the wealthiest city in the world, they are hell bent on maintaining the status. Anyone with minimum €500,000 can be a citizen of Monaco as far as I know. And no need to pay taxes in here. They do not tax income.
Renunciation but it’s different process for each country. Some may even not allow it.
You don’t really have to. You just can be a dual citizen.

It is still a vague idea. I'm just considering my options. For work, I'm a physiotherapist and an osteopath (alternative branch of medicine, somewhat like a chiropractor). But I own a good property in Europe and I intend to rent it out for passive income while I am abroad. It takes away the pressure that find a job immediatlely. There are also substantial inheritances coming my way, but taxes here are terrible. I want to move as many financial assets as possible abroad, preferably outside of the EU. European governments are broke and I get a clear feeling that our politicians are going to look for money from people who own hard assets. A lot of things they say are similar to communism.

My fiancé is from Brazil. She owns a property there too. We can live in it for free and make rental income from here in Europe.
But Brazil isn't particularly known as a tax friendly country for crypto either. And there are issues with safety and education (we intend to have kids)

One of the main things is that I want to move outside of Europe with her.
Because if I ever transfer money from DeFi to CeFi (a friend of mine made an account with Revolut, which is based in Lithuania) it takes exactly 1 day before the tax authorities know that you own another bank account in a European country.

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Real estate


I mainly intend to own a bank account there, cash out my profits and keep them miles away from the IRS in my country in Europe. I know a BTC whale who sent his parents for early retirement. The guy is just 30 years of age and goes to Dubai twice per year just for managing his funds. He parked most of his profits there, and some others in Switzerland. Although I have heard that Switzerland is no longer that tax paradise that it used to be.

I have been in crypto for 2 years now. I own BTC and some altcoins that have done well. But I have not taken any profits because I know that this transaction history will be demanded by the bank, and a 30% tax hit will be imminent. I'm up 6x in XRP for example but just accepting the price swings has a better financial outcome than taking profits and paying 30%. To me it is like cashing out money from a ATM and paying 30% conversion fee, which of course is a total ripoff.

I am not skilled/experienced enough to safely work with non KYC and also if I can not show the transaction history, banks will not even accept my profits.
One of the things I consider doing with for example XRP is like this:

I move 4000 XRP from a European CEX to my hardware wallet in 2024. Moving assets to a hardware wallet is not taxable.
At the peak of the market in 2025 I move these tokens to a CEX like Binance, located outside of the EU.
I sell XRP for profit (taxable, but I don't intend to declare), and convert those profits to stablecoins. In 2026 I will reinvest these stablecoins at the bottom of the bearmarket. For example for 6500 XRP, which is 2500 more XRP than what I originally bought.

If I convert crypto to cash (bank account) in 2026 for example, I move the original 4000 tokens back to the European CEX and I can sell them there. So it looks like the 4000 never left the hardware wallet.
The banks will ask for the transaction history. I will show them the history from the European CEX. This is a buy and hold strategy (low tax).
I will not show them the Binance history and these additional 2500 tokens I will not sell. Binance is located outside of the EU.

This isn't legal so I assume that most people don't think it is a good idea.
But neither is paying 30% tax. I'd rather never sell, keep everything in BTC and pass it to my kids in 2050

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There are many ways to avoid taxes, there are many ways to exchange currency, from intermediaries to escort girls in Dubai  ) Better not try to avoid taxes, spend them on pleasure and relaxation) 

Tax avoidance is a legal move, what’s illegal is tax evasion.

So if OP can come up with a smart way to avoid taxes without messing up his lifestyle, he shouldn’t hesitate to do it.
As investors who already made profits in crypto, that just proves we’re smart enough to legally dodge any heavy tax hits.

It all depends on whether you want to live in Dubai or not. If not so, then no point of moving your tax residence there, don't you think?

But let's say you like to live there long term:

- There are already ways to reduce your tax bill legally in your home country, but they are elaborate and require help from a tax lawyer (OffshoreCorpTalk can help answer this)
- If you want to become a UAE national, you have to give up your current citizenship first. In the case of the USA, this makes you inadmissible as the renunciation was for tax evasion reasons.
- You will need a lot more than $200,000 if you want to make that investment, as other expenses can easily quadruple this amount.

Yes, Orwellian nightmare and theft.

My advice is to pick a better country. Dubai is very expensive and you won't like it there. You must do some analysis of your expected spending. For example, it may be worth to go to a better and cheaper country which has a 10% tax rate on Bitcoin as you will pay off that difference pretty fast in realized savings. In terms of your passport, it really depends on the country that you are going to. Many allow dual citizenship but there are also others that don't. ChatGPT can give you a quick rundown of tax rates and the dual citizenship availability. You can look at some places in the Caribbean I think.

The rich do it all the time, as the world is set up in a way that provides them with more instruments to do this than for regular folk. Actually, you should try to legally dodge as much tax as you can. Especially if you don't agree with how taxes are used.

If your long game really is Dubai, don't wait until your portfolio hits the magic number to figure out the logistics. A lot of people get the investment part right but underestimate the hassle of moving halfway across the world. I've bookmarked Smart Movers for exactly that reason, they've got UAE roots and handle the whole setup, which could be a game changer when you're juggling real estate, visa timelines, and maybe even dragging a Ledger across borders.

It's true Dubai is a crypto-friendly country. I never heard yet that you can get citizenship by investing $200K at all. Rather, you may get a residential card for 5 or 10 years. You must need to visit Dubai if you really want to know the reality. I know there are a lot of physical crypto exchanges from where you can cash out your crypto, but not sure you don't need to pay tax during investment there.

Better you go as a tourist there, meet the culture then decide. Unless someone living there can't assure you of something. It's quite interesting you want to move from your home country just for tax. If you are earning well, then I don't think it's a big issue to pay tax.

Dubai is a solid country, really on the move to make crypto a global asset, they even had a token2049 event which shows they're very open and crypto-friendly but time will tell if they're still gonna be a crypto-friendly.

US making 0% crypto tax? Very impossible, good move for crypto people but he will prioritize US no matter what, look what happened to the tariffs he put, even US' neighbor country.

Actually, paying tax is no problem but here in my country, I can say that I don't want to pay taxes if ever since they these taxes goes to the politician's pocket and aren't being used to improve the digital sector which is I'm still eyeing out for. They're just imposing tax like the digital tax which is very high unlike to other SEA countries so making a crypto tax which is very greedy will gonna ruin the crypto community here.