The corporation could look to re-headquarter or re-domicile the financial side of the business - as you know the miners all do that through Singapore here and the big tech companies used Ireland for years for the same. That’s all just legal fiction paperwork BS.
I don’t see that as a barrier, the custody structure would no doubt prevent him from taking the coins himself but in a friendly jurisdiction things could look very different.
Under current rules with my limited understanding, I can see how this could be achieved. Various states are already thinking about the issue of relocation. I know a corporation is different to a natural person, but to get a sense of what they are thinking, Australian treasury has released a consultation paper on tax residency for individuals. If interested, go to the flow chart towards the end of the paper. Look at how long term Australian tax residents who move overseas without gainful employment are treated. Bear in mind this is not law, just a consultation paper that provides a flavour of things to come.
Yeah I’ve seen the Aussie proposal, it’s the beginnings of stricter capital controls on the tax base and we will see it throughout the West. Govs can’t afford to have 5% of the population say “fuck this” and just leave when things get bad, they will solidify this stuff before things get really bad and the flood begins.
It’s much more difficult for Government to keep business entities onshore, legal fiction and financial loopholes with the resources to undertake this work makes it fairly easy to relocate.
The superiority of Bitcoin’s portability hasn’t been tested even 1% yet, people will work it out when things get bad and everyone will want to leverage it to get out of dodge.
