Plan B Passport Offers Tax Relief On Bitcoins Due To New Residency And Citizenship

Plan B passports allow bitcoiners to legally avoid tax on their earnings in BTC.
If you want to avoid capital gains tax after spending, or to avoid selling BTC after boom cycles, it’s just a service for you.
Bitcoin maximalist and entrepreneur Katie Ananina is helping bitcoiners who make significant gains from their BTC assets to legally avoid such taxes by getting a second passport through their company’s plan B passports. CNBC offers customers seven different passport options for countries with appropriate tax laws, including credentials for Portugal, Saint Kitts and Nevis, Saint Lucia, Grenada, Antigua and Barbuda, Dominica and Vanuatu. Getting a passport to one of these countries provides an opportunity to bypass the high capital gains taxes that countries like the US need

Image Source: CNBC
This was made possible through partnerships in which plan B purchased passports with government programs to obtain citizenship through investment. Customers of” Plan B passports ” are finding a way to avoid paying huge taxes on bitcoins, while countries supplying new passports are receiving a new influx of foreign investment.
“St. Lucia, 100 thousand dollars (donation), 250 thousand dollars (government bonds) or 300 thousand dollars (real estate) can obtain citizenship by investing in,” he explains international tax attorney Ernest Andersen Marais, in an email to CNBC.
Ananina shared that the average cost of these passports ranged from $ 130,000 to $ 180,000 Dec.
“It’s actually a donation to the country’s Sustainable Growth Fund,” he told CNBC. “So clients make a donation of $ 100,000 or $ 150,000, plus some due diligence fees, government fees and then a donation of $ 20,000 for my legal services.”
These donations can also be very useful for countries that don’t have a lot of Natural Resources, and then they can allocate those funds to what they need.
Buying bitcoin when the price is low and holding it until the price goes up is a feat you can be proud of. When

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