Arbusers

Lichtenstein sounds interesting and also a nice central location to make travels around europe as well. Will I have to stay for I dont know like 6 months or somethin or take the nationality of lichtenstein before I am allowed to have an account at their banks ? Or is just that easy to open a bank account and withdraw money from betting sites there ?

ProHat wrote: Lichtenstein sounds interesting and also a nice central location to make travels around europe as well. Will I have to stay for I dont know like 6 months or somethin or take the nationality of lichtenstein before I am allowed to have an account at their banks ? Or is just that easy to open a bank account and withdraw money from betting sites there ?

How much do you make per month arbing if you consider moving to Liechtenstein for tax purposes?

Its not that much as you might think. Something like 3k per month . But its not only from arbing . Anyway i  think i can get higher than that as the bankroll gets bigger so I ll have to face with  this kind of problem (taxes) pretty soon.

If your annual income is less than 80-100k it doesn't worth to change residency only for this purpose.

Furthermore I guess that most of your capital is stored in the bookies and not in a bank...

Just open a bank account in a safe place like Luxembourg , Lichtenstein  or Jersey and get a debit card.

If your capital will raise that much you create a holding company in tax heaven with as much capital as your want without needing to provide any proof for the origin of it. Then using this company you can buy whatever you want in your country (house,cars,boats,etc).

Isnt it necessary to live in lichtenstein in order to let you open a  bank account in a bank there ? Furthermore when i want to cash out from a bookie to a bank account of lichtenstein , wont the bookies ask me a bill (electricity , mobile , etc) proving my permanent stay (address) ?

Come on now you don't need a bank account in  lichtenstein or whatever... banks there will probably reject you... but you don't need to cash out to a foreign bank no, what you do is : bookies to skrill(or net) and then to any bank.
This won't protect you from expenses in you country of residence that will raise your tax bracket nor will you need it if most of your bankroll is kept in e-wallets. So why bother ? Better focus on making more than saving on taxes or opening bank accounts in offshore destinations.
By the way your local tax authorities may be able to track some foreign bank transactions like ATM withdrawals. These could look suspicious to them while NET/Skrill are like prepaid cards and shouldn't draw that much attention.

I totally disagree.
An offshore account in a secure location is the only way to secure your capital. The destinations I suggested won't reject you if you know what to do and where to ask.

Singapore is also a very easy, fast and secure destination.

Your can have a multi currency account (USD,EUR,CHF,GBP) with only one debit card. You link the card with an account using web app and that's it!

It is not necessary to live in Liechtenstein to open a bank account there.  You do not even physically have to go there to open one, although it's recommended to do this instead of going through a shady 3rd party.

have a look in cyprus

freezig1 wrote: have a look in cyprus

If you respect your wealth and the efforts you made for it, have no look at Cyprus. Ask those who lost fortunes in the hair cut of 2013.

I disagree, I think there are good opportunities that we will bring profits in the future.
Τhere are some good opportunities in real estate,  because the disposals of loans set up,  and also a lot of people sells its properties to cover the loans after they lost theres jobs.
Also if someone would like to have a European passport,  can easily have access through Cyprus investment plans (around 1M) with all the benefits.
Meanwhile the Cypriot are planning the mining of natural gas and the build of a casino.
On the other hand,  in the politics,  they are close to solve the Cypriot - Turkish issue and the other half will stop to have an embargo.  So i except a big increase in development and reconstruction


But i would like to draw your attentions on the politics.  In Cyprus when the deposits haircut done,  almost everyone who had hand in the big political party moves his money outside of the country months before (http://www.zerohedge.com/news/2013-04-01/list-released-132-names-who-pulled-cyprus-deposits-ahead-confiscation-day)  . 
Also recently the big malls of Cyprus Sold to Atterburry Group  (South Africa) for 193M 20% over than the basic price,  after some political invention on the shop opening hours (open and on Sunday)

@arbusers

Cyprus is really safe.
On 2013 , only 2 banks were bankrupted. There were the biggest banks but the serious investors didn't have any money there. I had some cash on Hellenic bank , the third bank in Cyprus and no money lost in this bank,

Same rule applied for foreign banks with brunches in Cyprus.

It's not only about the location , it's also about the bank you choose...

freezig1 wrote: Τhere are some good opportunities in real estate,  because the disposals of loans set up,  and also a lot of people sells its properties to cover the loans after they lost theres jobs.

Property in Greece lost 60% of its value these last 6 years. This trend accelerates making prices unbeatable by any country of the Southeastern Europe. Greece has lower geopolitical risk compared to Cyprus making it more lucrative if we compare these 2.

freezig1 wrote: Also if someone would like to have a European passport,  can easily have access through Cyprus investment plans (around 1M) with all the benefits.

Why get a Cypriot one for a million when he/she could get a Portuguese for 0.5, or even lower?

freezig1 wrote: Meanwhile the Cypriot are planning the mining of natural gas

This is a reason for a gloomy future. Cyprus is not the US, Canada or Russia. Cyprus will hand its resources unless she opts for a Syrian, Venezuelan or Iranian scenario.

freezig1 wrote: they are close to solve the Cypriot - Turkish issue and the other half will stop to have an embargo.  So i except a big increase in development and reconstruction

Are you sure that you want this solution? Demographically Turks will dominate the island within 1-2 decades. Greek Cypriots will become a minority within their own land. Have no doubt that Greek Cypriots will have to immigrate to Greece or the UK, unless they are willing to accept a completely different to european standards way of life. I suppose that younger people are already immigrating abroad.

freezig1 wrote:
Also recently the big malls of Cyprus Sold to Atterburry Group  (South Africa) for 193M 20% over than the basic price,  after some political invention on the shop opening hours (open and on Sunday)

You call this an investment? A reformation or what?

Singapore is safe and convenient but usually you need to provide a proof of residence or employment which is tricky since Singapore's immigration policy is quite restrictive.
Also gambling is illegal in Singapore.

Honestly I am glad that I received that many opinions from you guys ,  but in the end I  am still confused.

For example if I have 100k in a bookie and withdraw this sum in a bank of my country I 'll get taxed at least 10 % and probably even as high as 20 % . So I instantly lose 10-20 K.

Solution (?)
Question :

If I move for some months to a '' tax heaven '' country of Europe and get myself a place to live  , will I be able to open a bank account to that country ? Then withdraw the money ( 100k) , get taxed (lets say) 1-5 % and  get an official paper from the local tax authorities that proves that I have been taxed and paid  5%  of this 100k  ,  so that I can spend it  in my country without getting furthermore taxed ? I ' ve asked my accountant about this and he has told me that this depends on the individual agreement that stands between my country and the others in  the EU . So if my country already has an agreement with a tax heaven country then I just get my money taxed there  and then transfer them back to my country without paying a cent.

Is this scenario right ? Do I miss something ? If there is an easier way to do this , please enlighten me.

@ qbet  About the paypal / skrill / e-wallets ,  my accountant said to me that from now on local tax authorities have full access on my account and can easily see what money have I gathered there.