Of course, you have read through numerous and all sorts of blogs and websites, but unfortunately the information is not always exact nor up to date.
Should you open a big new glossy office on the Avenida Liberdade in Lisbon and help Portuguese persons invest money in crypto, then, yes, the Portuguese tax authorities will be there to tax you.
But other than that, take our word for it, they will not!
Monopoly money
Important to understand is that Portugal considers crypto to be monopoly money and therefore does not tax it.
Therefore, crypto need not be (and actually cannot be) mentioned or declared in your tax return. This is in stark contrast to, for example, Germany, where crypto must be declared. The strict German tax authorities then decide whether to exempt or not.
Rest assured, you will not be taxed as a professional trader; the Portuguese tax authorities simply have no interest.
Deliberate policy
For more than 10 years, Portugal has had a policy of tax friendliness towards certain wealthy and creative entrepreneurs.
They know that these types of persons, by luring them with tax friendly benefits, will contribute well in another more indirect way to Portuguese prosperity. Which, as it turns out, they do!
So, our contacts at the highest levels confirm that Portugal will continue to adopt a tax-friendly attitude towards crypto-entrepreneurs or crypto-traders in the coming years. Even if, under for example European pressure, slight adjustments need to be made, they will still try to work out an advantageous tax regime tailored to the crypto community.
Nice cocktail!
Take the advantageous NHR scheme (see below). And the fact that Portugal is an ideal gateway to Europe for people from outside the European Union, using Visa D – procedure or the Golden Visa, makes Portugal a very attractive place for crypto-believers. Download here for our free Portugal book on nomoretax. eu.
Moreover, Lisbon and Portugal are becoming real crypto-hubs, with lots of young crypto people from all over the world and digital nomads. Many crypto events are going on here! There are even business centers like The Block, which focus entirely on them.
CONCLUSION
So, of all the countries (at least within Europe), Portugal is, without doubt, the best choice, and I think it will remain so.
Moreover, this can be combined with other attractive tax benefits in Portugal. You will find more details about this in our free e-book about Portugal that you can download for free from our website: www.nomoretax.eu.
And finally, Portugal is a wonderful country, with a very high quality of life and yet very affordable. It is safe, beautiful nature, unbeatable beaches, the best fresh fish in the world and a friendly population who almost all speak English. So don’t hesitate!
Portugal is our favorite!
Moreover, with our boutique office in Portugal, we can guide you from A to Z! Do not hesitate, contact us today at: info@dehoon-dhp.com.
