Cryptocurrency is tax-free in PortugalCryptocurrency is tax-free in Portugal

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Cryptocurrency is tax-free in PortugalCryptocurrency is tax-free in Portugal
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Published: 5th December 2019, 1:41pm

If you’re dealing in crypto, then you should take a look at what’s going on in Portugal at the moment. The Portuguese Tax Authority (PTA) has confirmed that crypto transactions are exempt from any value-added tax (VAT) in Portugal. In other words, if you exchange some crypto into fiat currency in the country, that exchange will be tax-free.

How does the Portuguese law apply to bitcoin investors?

  • Income Tax

Besides the exemption of VAT, income made from crypto sales also cannot be taxed. Essentially, what this means is that Portugal is viewing cryptocurrencies as a means of payment - i.e. like any other currency, - rather than just an asset.

  • Capital gains tax

As previously clarified in 2016 by the PTA, all types of cryptocurrency transactions are exempt from capital gains tax and other taxes from crypto transactions, such as:

a) payment for goods and services;

b) buying cryptocurrency for fiat;

c) trading in digital assets.

  • The Non-Habitual Residence tax regime

For crypto traders who want to avoid taxes, Portugal is the right place. Investors in Portugal who have not been tax residents in the country for the previous 5 years can benefit from the NHR scheme. Under this programme, investors may be able to monetise their personal cryptocurrency earnings in Portugal, without being taxed.

Find out if you are eligible for tax exemptions here.

There are, however, some exceptions:

  • although bitcoin transactions are not taxed, if the transfer of the cryptocurrency is related to goods or services then an invoice must be issued and the service should also be taxed; 

  • individuals who deal in cryptocurrency as a professional activity are still required to pay taxes;

  • businesses which offer services relating to cryptocurrencies are taxed on capital gains, ranging between 28% and 35%.

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Portugal Golden Visa and cryptocurrency

Another added benefit to investing in Portugal is the Portugal Golden Visa Programme. Investors may acquire a European passport after 5 years of continued investment in Portugal, giving them the right to work and live anywhere in the Schengen area, which is a shorter period than Greece (7 years) or Spain (10 years). Their dependents, such as children, partners, relatives or financially dependent individuals enrolled in studies, may also be granted residency permits.

Read more about the requirements to apply to the Golden Visa Programme and know why it is worth it.

Key benefits of applying to Portugal Golden Visa as a cryptocurrency investor:

  • Holding two passports ensures future stability and allows you to live and do business in Europe, in 183 countries;

Check here where the Bitcoin ATMs in Portugal are.

About Portugal Homes

PortugalHomes.com specializes in investments through Real Estate and Golden Visa. We help buyers find the right property overseas, whether it be for Golden VisaNHR, Investment or simply a place in the sun. Our properties are selected with great thought in mind to give our clients the best opportunities. We offer the complete service from introducing them to the Legal RepresentativesCurrency ExchangeMortgage AdvisorsProperty ManagementRental and Furniture Packages along with making sure all our staff are trained to fully understand the buying process and taxes for every scenario. Portugal Homes provides the complete service to anyone looking to buy a new or resale property overseas for holiday use or as a short or long-term investment

To find out more, please contact us:
  • Phone: +351 213 471 603
  • E-Mail: info@portugalhomes.com
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Comprar uma propriedade em Portugall

A Portugal Homes possui profissionais muito experientes e conhecedores, que trabalham com alguns dos promotores mais reconhecidos em Portugal . A nossa vasta experiência permite-nos guiá-lo pelas melhores opções de investimento.

Seja casa de férias ou uma propriedade para investimento, selecionamos as melhores propriedades para o seu perfil e tratamos de todo o processo do início ao fim. Mesmo após a venda! Os nossos serviços de pós-venda assumem a responsabilidade de mobilar a seu gosto, manter a propriedade na sua ausência, dar apoio ao arrendamento, no caso de querer arrendar e muito mais!

Para saber mais sobre Residentes Não Habituais em Portugal e sobre os nossos serviços pós-venda, preencha o formulário abaixo.

O meu consultor, Mathew McGurn, foi realmente excelente! Os seus conhecimentos, profissionalismo e atenção ao detalhe foram muito apreciados. Ele trabalhou duro não apenas para encontrar uma propriedade que atendesse a todos os meus requisitos, mas também negociou com sucesso com os agentes, garantindo que minha oferta conquistasse outros compradores que disputavam a mesma propriedade. Além disso, as suas capacidades de comunicação, tempo de resposta rápido e ajuda geral para a minha instalação em Portugal foram acima e além do normal.

Investidor dos EUA

Caro Sérgio, muito obrigado por arranjar o nosso 1º Esquerdo. Nós amamos a nossa casa nova, e a sua atenção aos detalhes é muito apreciada.

Tim Thronson - Investidor dos EUA

Um serviço completo, oportunidade única. Muito fácil para nós como estrangeiros. O Ryan Dunn superou as nossas expectativas. Estamos muito felizes com trabalho dele!

Jose Arias - Investidor dos EUA

Todas as pessoas com quem me encontrei e com quem falei têm sido extremamente experientes e profissionais. Lidar com nativos em inglês que entendem as coisas da minha perspectiva foi muito reconfortante. Por fim, saber que estava com o Matthew ao meu lado deu-me confiança para prosseguir com o processo de compra de um apartamento em Lisboa. Muito obrigado.

Investidor dos EUA

Até agora, tem sido ótimo. O Simon é muito experiente e amigável.

Loay El Abiad - Investidor da Arábia Saudita

É fantástico como o Ryan tinha um conhecimento completo sobre Lisboa e nos tratou da melhor maneira.

Akbar Ali - Investidor do Paquistão