London Daily

Focus on the big picture.
Thursday, Oct 16, 2025

Company claims to offer bitcoin, crypto tax relief through passport

Company claims to offer bitcoin, crypto tax relief through passport

Plan B Passport founder explains one must 'become a non-tax resident of the country you are currently a citizen of'
Plan B Passport founder Katie Ananina explained on "Varney & Co." on Wednesday how her company could potentially help people avoid paying taxes on cryptocurrencies.

Plan B Passport is a business that works primarily with owners of Bitcoin to obtain legal residency status in their choice of tax-haven nations, CoinDesk reported, noting that the "open approach to tax avoidance is perfectly legal."

The company claims to be "helping the free market evolve to make governments compete for your wealth and fruits of your labor, while incentivizing them to provide you with better services at better prices," according to its website.

Host Stuart Varney pointed out on Wednesday that for about $200,000 Ananina will sell investors a passport to one of seven nations that do not impose capital gains taxes on cryptocurrency gains.

Ananina told Varney that in order for people to avoid paying taxes on cryptocurrencies using her company "you would have to become a non-tax resident of the country you are currently a citizen of," which she acknowledged is "really hard" to do in the United States.

"The United States has a unique feature to its passport called ‘citizenship-based taxation,’ which means if a United States citizen resides in a foreign country, it will still be necessary to file taxes in the United States," she explained.

Ananina clarified that whoever buys a passport from her must live in one of the seven nations or "maintain a nontax residency status" in order to "take advantage of the tax regime those nations provide."

Ananina would not disclose how many people paid $200,000 for the passports, but told Varney, "You will be surprised how much interest there is regarding obtaining a second citizenship."

She added that "taxation is not the only reason people relocate or obtain a second passport."

"For many people it’s a simple plan B, a second option as a hedge against their government for other country’s citizenships,"Ananina continued.

She told Varney she primarily sells her passports to people in English-speaking countries, including the U.S., Australia and Canada.

"I want this to become a global trend so we could incentivize those governments to get better," she said. "So I’m willing to work with anybody all around the world, not limited to U.S. citizens."

Ananina explained how her company works on the same day a digital version of the Euro got the green light.

The digital euro will likely be a digital wallet that citizens of the euro zone can keep at the European Central Bank and would be the electronic equivalent of banknotes and coins, Reuters reported.

The price of Bitcoin was trading slightly higher on Wednesday afternoon around $32,800 per coin, while rivals Ethereum and Dogecoin were trading around $2000 and 20 cents per coin, respectively, according to Coindesk.
Newsletter

Related Articles

0:00
0:00
Close
Australia’s Wedgetail Spies Aid NATO Response as Russian MiGs Breach Estonian Airspace
McGowan Urges Chalmers to Cut Spending Over Tax Hike to Close $20 Billion Budget Gap
Victoria Orders Review of Transgender Prison Placement Amid Safety Concerns for Female Inmates
U.S. Treasury Mobilises New $20 Billion Debt Facility to Stabilise Argentina
French Business Leaders Decry Budget as Macron’s Pro-Enterprise Promise Undermined
Trump Claims Modi Pledged India Would End Russian Oil Imports Amid U.S. Tariff Pressure
Surging AI Startup Valuations Fuel Bubble Concerns Among Top Investors
Australian Punter Archie Wilson Tears Up During Nebraska Press Conference, Sparking Conversation on Male Vulnerability
Australia Confirms U.S. Access to Upgraded Submarine Shipyard Under AUKUS Deal
“Firepower” Promised for Ukraine as NATO Ministers Meet — But U.S. Tomahawks Remain Undecided
Brands Confront New Dilemma as Extremists Adopt Fashion Labels
The Sydney Sweeney and Jeans Storm: “The Outcome Surpassed Our Wildest Dreams”
Erika Kirk Delivers Moving Tribute at White House as Trump Awards Charlie Presidential Medal of Freedom
British Food Influencer ‘Big John’ Detained in Australia After Visa Dispute
ScamBodia: The Chinese Fraud Empire Shielded by Cambodia’s Ruling Elite
French PM Suspends Macron’s Pension Reform Until After 2027 in Bid to Stabilize Government
Orange, Bouygues and Free Make €17 Billion Bid for Drahi’s Altice France Telecom Assets
Dutch Government Seizes Chipmaker After U.S. Presses for Removal of Chinese CEO
Bessent Accuses China of Dragging Down Global Economy Amid New Trade Curbs
U.S. Revokes Visas of Foreign Nationals Who ‘Celebrated’ Charlie Kirk’s Assassination
AI and Cybersecurity at Forefront as GITEX Global 2025 Kicks Off in Dubai
DJI Loses Appeal to Remove Pentagon’s ‘Chinese Military Company’ Label
EU Deploys New Biometric Entry/Exit System: What Non-EU Travelers Must Know
Australian Prime Minister’s Private Number Exposed Through AI Contact Scraper
Ex-Microsoft Engineer Confirms Famous Windows XP Key Was Leaked Corporate License, Not a Hack
China’s lesson for the US: it takes more than chips to win the AI race
Australia Faces Demographic Risk as Fertility Falls to Record Low
California County Reinstates Mask Mandate in Health Facilities as Respiratory Illness Risk Rises
Israel and Hamas Agree to First Phase of Trump-Brokered Gaza Truce, Hostages to Be Freed
French Political Turmoil Elevates Marine Le Pen as Rassemblement National Poised for Power
China Unveils Sweeping Rare Earth Export Controls to Shield ‘National Security’
The Davos Set in Decline: Why the World Economic Forum’s Power Must Be Challenged
France: Less Than a Month After His Appointment, the New French Prime Minister Resigns
Hungarian Prime Minister Viktor Orbán stated that Hungary will not adopt the euro because the European Union is falling apart.
Sarah Mullally Becomes First Woman Appointed Archbishop of Canterbury
Mayor in western Germany in intensive care after stabbing
Australian government pays Deloitte nearly half a million dollars for a report built on fabricated quotes, fake citations, and AI-generated nonsense.
US Prosecutors Gained Legal Approval to Hack Telegram Servers
Macron Faces Intensifying Pressure to Resign or Trigger New Elections Amid France’s Political Turmoil
Standard Chartered Names Roberto Hoornweg as Sole Head of Corporate & Investment Banking
UK Asylum Housing Firm Faces Backlash Over £187 Million Profits and Poor Living Conditions
UK Police Crack Major Gang in Smuggling of up to 40,000 Stolen Phones to China
BYD’s UK Sales Soar Nearly Nine-Fold, Making Britain Its Biggest Market Outside China
Trump Proposes Farm Bailout from Tariff Revenues Amid Backlash from Other Industries
FIFA Accuses Malaysia of Forging Citizenship Documents, Suspends Seven Footballers
Latvia to Bar Tourist and Occasional Buses to Russia and Belarus Until 2026
A Dollar Coin Featuring Trump’s Portrait Expected to Be Issued Next Year
Australia Orders X to Block Murder Videos, Citing Online Safety and Public Exposure
Three Scientists Awarded Nobel Prize in Medicine for Discovery of Immune Self-Tolerance Mechanism
OpenAI and AMD Forge Landmark AI-Chip Alliance with Equity Option
×