Navigating Crypto Purchase Challenges as a Diplomat Without Permanent Residency: Seeking Advice

Hello everyone,

I’m encountering some hurdles purchasing crypto due to my diplomatic status and lack of permanent residency. Here’s my situation:

• I work as a diplomat in Japan without permanent residency. My salary is deposited into a Japanese bank account, my employer retains my taxes and I file annually in my home country. My only income is my salary. • Although I maintain bank accounts in my home country and Spain, I rarely use them. As a dual citizen of my home country and Spain, my Spanish account has minimal activity, and I’m not a resident of Spain. • While I previously lived in the US, I’m not a resident there anymore. I have an active credit card for specific services and regularly transfer money from Japan to the US to settle the balance. • Despite residing in Japan, I’m unable to purchase crypto due to my non-resident status. 

I’m considering sending my savings in Euros to my Spanish account to facilitate the purchase, but I’m concerned about potential taxation implications in Spain, especially since I’ve never dealt with Spanish taxes and I’m not a resident there.

Additionally, I’m open to buying from the US, but I’m unsure about the tax implications with the IRS. Exchanges often ask for residency, and since I’m not a resident in the US anymore, it adds another layer of complexity.

Recently, a friend suggested exploring the Palau Digital Residency. Has anyone navigated this process successfully, particularly opening a bank account in Palau for purchasing crypto?

I’m open to any advice, ideas, or alternative solutions to facilitate my crypto purchase. Your insights are greatly appreciated!