Part 6/8:
Once tax residency is established, individuals wishing to convert their crypto gains to cash have multiple options. They can cash out through local banks in Barbados or international jurisdictions like the Bahamas and Cayman Islands. However, caution is warranted when utilizing online platforms like Wise or Revolut, as accounts linked to cryptocurrency transactions may face scrutiny or restrictions.
It is advisable to cash out in smaller transactions to avoid triggering alarms on these platforms. By proceeding carefully, investors can effectively access their funds while retaining the benefits of their tax residency in Barbados.