Won’t you get taxed on “gains”when you do that and then eventually convert to fiat?
I was considering this path a few years ago but all my research pointed to me being taxed for moving my own money from one country to another. Which would’ve cost significantly more than a good ol’ bank transfer. (I needed the fiat on the other end)
My understanding was that as far as the receiving bank is concerned, the converted crypto would’ve appeared out of an investment/trading platform and needed to be taxed
The bank transfer cost like a couple of bucks anyway so it wasn’t worth the risk of trying the crypto route in the end for me.
I was considering this path a few years ago but all my research pointed to me being taxed for moving my own money from one country to another. Which would’ve cost significantly more than a good ol’ bank transfer. (I needed the fiat on the other end)
My understanding was that as far as the receiving bank is concerned, the converted crypto would’ve appeared out of an investment/trading platform and needed to be taxed
The bank transfer cost like a couple of bucks anyway so it wasn’t worth the risk of trying the crypto route in the end for me.