See which are the best citizenships for Bitcoin investors

Charlie Taylor

Andrew Henderson, creator of the Nomad Capitalist channel, today revealed the best destinations for bitcoin and crypto investors who want to get rid of high taxes and live a more peaceful and less bureaucratic life.
Henderson and the Capitalist Nomad team are the world's most sought after experts in legal tax strategies, investment immigration and global citizenship. They work exclusively with entrepreneurs and investors of seven and eight digits who want to "go where they are treated best".
Achieving a new, possibly multiple, citizenship can be important for freedom of choice and in guaranteeing a Plan B in case the situation in your country changes for the worse. The Nomadic Capitalist calls this "internationalizing your life", a step so that no single government is "owner" of you and can charge whatever you want.
Have you ever wondered if the cryptocurrency investor gets rich and the government decides to heavily tax big fortunes? Out-of-the-box options may be necessary.Cointimes Awards

Opportunity cost for bitcoiners

According to him, his contact with hundreds of wealthy cryptocurrency investors showed him that the philosophy of crypto enthusiasts is somewhat peculiar. "For them, it's all about opportunity cost … Many of them believe in bitcoin at $ 100,000 or even $ 500,000."
The best ways to get a second passport is by descending from abroad, almost free of charge, or by naturalization, which also presents little opportunity cost. You can apply for residency in the country only by living in one place for 2, 3 or 5 years.
However, if you are well involved in the world of cryptocurrencies, in 2 or 3 years it may be too long for your financial situation to change dramatically. If you have a problem with taxes, you may want to move faster.

"What I generally recommend to someone in the crypto space is to seek the best cost-benefit of citizenship by investment (citizenship-by-investment), which would be in the Caribbean," said the expert.

For Malta, for example, despite being very crypto-friendly, the cost can reach a million dollars. According to Henderson, it is necessary to analyze the probability of the person wanting to live there, since the investor can only want the citizenship of that country while living elsewhere.Cointimes Awards
Caribbean citizenships offer visa exemptions for Russia and Eastern Europe, where many people are from the cryptocurrency space. This can be a determining factor for a cryptocurrency investor.
It is also worth noting that approvals for the Caribbean are coming out faster, with the process being increasingly digitized after the covid-19 pandemic. Considering that most prefer to pay more in order to move as quickly as possible, this is another advantage for those interested.

“I would look for the cheapest options for the Caribbean, again, if you spend 25 or 50 thousand dollars more (on another citizenship option)… Who knows? That could be half a million dollars at some point in the near future if the cryptocurrency is going crazy. ”Said the expert.

Other options

For some people, the opportunity cost may be less, as was the case with a Nomad Capitalist customer who claimed to have $ 25 million in cryptocurrency, but said he wanted to sell $ 5 million of it. "The opportunity cost soon becomes less important," he said.
"What a (considerable) number of people already said to me was: let me take some money off the table, allocate a little bit in precious metals or government bonds …". So then we can go back to looking at citizenship programs where you get that quickly when you buy government bonds. Saint Lucia offers a program in this regard.Cointimes Awards

“If you now want to realize your cryptocurrency profits to create your cryptocurrency company, you can also get your new citizenship by generating jobs in a new country. This is generally not what I recommend for crypto investors, unless you want to sell some of your positions, ”he said.

For a trader who makes a lot of money, and therefore has to pay large amounts of taxes, it is recommended that you consider the option of São Cristóvão Island, due to its low taxes.
You can watch the full video here:

Read also: Discover 8 countries that do not charge tax on Bitcoin gains

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