Company Offers Passport to Avoid Paying Taxes on Bitcoin Earnings

Key Facts:

The Plan B passport allows you to get a second passport in seven countries considered tax havens.
The company processes each in conjunction with the residency programs of the government.

Plan B Passport Company offers passports to citizens living in the United States, United Kingdom, Australia, and Canada who wish to be exempt from payments imposed on profits earned with bitcoin (BTC).

The owner of this company was Katie Annina. interview Most recently by news network CNBC. The Russian-origin businessman said during the conversation that through this initiative she wants to introduce the customers The route to the second travel document of one of these seven countries Those considered tax havens: St. Kitts and Nevis, Antigua and Barbuda, Dominica, Vanuatu, Grenada, St. Lucia and Portugal.

Entrepreneurs show that These states implement non-resident friendly tax regime who are domiciled, for legal purposes, in them. All are exempted from capital gains tax on holding of cryptocurrency, Tension.

I was smart enough to imagine that at some point $200 worth of bitcoin would be worth $100,000. I don’t think the government should have 40% of it.

Katie Annina, founder of Plan B Passport

Annina assures that she has met several bitcoiners who believe that Getting a Second Passport Is “Mandatory” to Avoid Paying Taxes On cryptocurrency earnings. The company she directs processes this passport in conjunction with social programs of residence or citizenship by investment of each government.

Regarding the latter, Arnets Marai, a lawyer for the international law firm Andersen, indicates that, for example, on the island of Santa Lucia, you need USD 100,000 (donations), USD 250,000 (government bonds) to obtain a passport. Will have to invest between or 300 thousand USD (real estate).

Annina elaborates it and gives a description that serves to know Your company’s business model: “This is basically a donation to the nation’s Sustainable Development Fund. So customers donate $100,000 or $150,000, plus some due diligence fees, government fees, and then my legal fees $20,000.

Plan B Passport Owner Doesn’t Deny That His Customers in the United States Are Thinking About It relinquish your US citizenship. And that is, in that country, the Tax Office (IRS) considers Bitcoin And for other cryptocurrencies, as assets. This means that their holders will have to pay taxes as if it were stocks or real estate.

Katie Annina: The Maximalist of Bitcoin

in your profile Twitter, Annina defines herself as a bitcoiner fond of music and navigation, among other things.

Well-known developer Vijay Boyapati La Description, in that social network, “as a bitcoin maximalist who wants to help lead people to where they are best treated, rather than treated like cattle that have to be taxed. taken together.”

According to the profile published by CNBC about the owner of plan b passport, it is known that she was born and raised in Chelyabinsk, a city in Russia. She was a professional sailor and in 2016, she settled in the United States. Till then he did not speak English and now he is fluent.

Ananina practices “international arbitration”: if a government influences her way of life, she moves to another place that is more favorable. Waterfall: Twitter

As he told CNBC, in early 2015 he stayed in Spain for two months in connection with competing for the Russian sailing team. It’s about time The devaluation of the ruble saw a drop of 50%.

Regarding this situation, the businessman explains: “My macroeconomics professor was not able to explain this to me. There was no chance I could run my equations and find out what happened there. I realized she wasn’t happy with how money worked.”

Then he met Cryptocurrency developed by Cryptocurrency satoshi nakamoto u Became, she says, “a loyal bitcoin preacher”. For him, being a maximalist isn’t “just about believing in a coin,” but it’s a lifestyle. For example, she practices what she calls “international arbitration,” which means getting rid of any government’s rules on its functions and finances, and going to a place appropriate to it at all times.

“If the government starts influencing me, I will take everything” [mis activos] And I will go somewhere else”, says Annina. It was this fuse that ignited her creativity to find her own company to help others crystallize the idea in her mind: take her possessions and go somewhere else.