Many countries in the world have very high taxes on all sources of income, and crypto income is no exception. In this context finding a country where crypto income is not taxed or taxed at all is definitely a big advantage. One such country is Georgia, in the Caucasus region.
Georgia has very favorable crypto tax regulations for individuals, since crypto investors are exempt from any income tax on profits from crypto sales. This is due to the fact that Georgia doesn’t consider crypto to be sourced in the country. Accordingly crypto is not subject to Georgian capital gains tax. I discovered this during the 4-month travel in Georgia. Since I spent there such a long time, I made a research regarding the opportunity to open a business and to make investments as living in Georgia.
Furthermore, you can open an individual entrepreneurship business while in Georgia and pay just 1% taxes on your 1-year earnings. This is very advantageous since in many other countries the taxes range between 10% and 20%.
So, if you plan to invest in crypto and avoid taxes on profits made from crypto trading, Georgia could be a great option where to stay. In order to avoid taxes in your country (this is valid for most of the countries, but not necessarily for all of them), you must leave at least 183 days during 365 days in Georgia. It is not mandatory to be consecutive 6 months, but 6 months + 1 day during a year. In this way you have to pay taxes in Georgia, but as soon as you have income from crypto, this is not under the taxes laws in this country.
Georgia is a country with an affordable cost of living, even if in the last 2 years, after the Ukraine - Russia conflict started, the prices has rise quite a lot. Since I spent 4 months in different part of this country, I can confirm that there are plenty of places where to live a comfortable life while you are enjoying vibrant atmosphere and fantastic natural landscape. is the capital city where you may enjoy a great night life, but also plenty of parks, restaurants, theaters and shopping centers. If you want a more peaceful city, then you may choose Kutaisi, the cultural capital of Georgia. During hot summer days Bakuriani could be a perfect choice to avoid hot days and at the same time enjoy wonderful mountains views.
Or you could choose Batumi, which is called "the Las Vegas at the Black Sea" due to the large number of casinos, sky-scrappers and gambling business. Batumi is for sure the capital of those who want to earn money form casinos, gambling and crypto. There are also many crypto-exchanges and crypto ATMs in Batumi, but also restaurants and coffee shops where you may pay using crypto. Down below is a video about Batumi (Subtitle available).
Before visiting Georgia I didn't know that Georgia, this small country in the Caucasus, is crypto-friendly. This ex-soviet country that still has many remains from that period surprised me since there are so many opportunities for crypto investors and crypto users. Therefore, since in the last 12 months I've mostly accumulated different crypto currencies into my wallet and I plan to do this in the upcoming few months too, I really consider Georgia as an option to live during the next bull run.
Hopefully this article is helpful and bring you some useful information about a country that is crypto-friendly and has zero taxes for crypto income. If you know other countries that are free crypto taxes or very low taxes for crypto income, please leave a comment down below.
