We live a world where the taxes and death are unavoidable. And people who don't pay the taxes hate them the most. Meanwhile rich know how to bypass tax or pay less tax on what they do. Now that people who wanted to bypass govt and tax created crypto, govt found a way to tax the crypto too.
Rich people realized the fact that the taxes are not going to leave them that easily. So they are always in the search of the new nations which would bring them tax friendly vibes. So there are some islands and nations which are offering the tax friendly heaven.
Let's take a look at some of those places where you can live free without any crypto taxes and lead a happy life.
El Salvador, the first nation to Adopt Crypto
First nation to accept the bitcoin as it's legal tender. And they are making sure to run most of their local operations through bitcoin. And the lightning network is pretty popular over there. In fact if you are a tourist or coming there for the retreat, you'd just need the lightning address and the wallet for paying for most activities in the island and that would suffice.
Now that the nation is getting more talented Residence Visa immigration they are running the crypto favoring skill based immigrants under their program. This would mean that soon more and more islands and the places would open up for the immigration and they would establish the crypto authority in such places. And the bypassing USD ends up making their land have more opportunities in international market.
Puerto Rico, under the nose of US Govt
Lightning network protocol users are growing in the land of the Puerto Rico. And the adoption of crypto is getting heavy lately in the island. Though this place gets regularly raided by the FBI as there are more criminals and the rich people escaping from other nations. Still it gets all the benefits that you would get in the USA. And this means this island is a good choice if your past is clean.
However the living expenses, jobs and the business growth is kind of harder. But in context of the crypto travel and the vacation is one of the reason puerto rico is considered. Unless you want the legal and crime reason to get away from I suppose puerto rico would be one good option to go for in upcoming times for crypto users. There is going to be CBDC acceptance too in near future.
Cayman Islands, Tax heaven in the middle of Ocean
In USA, everyone knows where people run away when they want to escape from the taxes and the crimes. In such case the cayman island are kind of the place where people choose to invest their vacations and the life in general. Cayman island is a perfect place where the tax heaven status and also a bit peaceful vacation and travel can be expected. That too with a lot of lightning protocol users accepting payments.
USA has plenty of it's connections over there so if you are running away from FBI with your crypto then this may not be the right place. Island has the tax friendly laws and they are kind of open towards the crypto too. And unless it gets pressure from the big western powers there won't be heaven status changing any time soon. However it's an island in the middle of ocean so yeah good for vacation than the immigration choice.
Lightning protocol has made it easier to use bitcoin for moving funds and it is being accepted in many places for the payment acceptance. Crypto tax friendly countries are going to increase in near future once this war torn winds reduce in the international airs.