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.
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.
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.
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.
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%.
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.
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;
You’re only required to stay in Portugal for 7 days per year, so you are able to live in your home country without having to relocate. Portugal Homes has an After Sales team that can also help you take care of your investments when you are away - learn more about it here;
After 5 years, you are granted the Portuguese passport, rather than if it was in Greece (7 years) or Spain (10 years);
Varied investment options, being the investment in real estate the most popular choice for Golden Visa applicants;
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 Visa, NHR, 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 Representatives, Currency Exchange, Mortgage Advisors, Property Management, Rental 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.
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.
Extramemente prestáveis e profissionais. Muito gosto em fazer negócio!Li Sze Ki and Man Chi Ning de Hong Kong
Muito obrigada por toda a ajuda. Estou muito feliz por ter escolhido a Portugal Homes, como gestor da minha propriedade.Investidor de Hong Kong
O Ryan é fantástico. Muito útil, agradável e profissional. Sempre que lhe faço uma pergunta, ela é rápido a responder!Rubby Lee de Hong Kong
Obrigada. Experiência agradável com todos o staff. O George foi muito prestável, experiente e tinha uma boa compreensão das finanças. Vou recomendar Portugal Homes aos meus amigos.Excelente experiência também com o Departamento After Sales.Nadia Webb
Muito experiente e profissional, capaz de dar conselhos claros que atenderam às minhas necessidades, para que eu podesse tomar uma decisão rapidamente. Equipa eficiente e enérgica.Tang Wing Yun de Hong Kong
Tem sido maravilhoso trabalhar com o Simon. Não nos sentimos pressionados de todo.Andre & Lena Jourdan dos EUA