Internet and twitter are bursting at the seams claiming that Portugal is going to heavily tax crypto from now on. Hold your horses!

What are the facts!

  1. The Portuguese Minister of Finance has said that they are thinking of possibly taxing cryptos. It is being considered... How, when and to what extent? That is still totally unclear.
  2. Portugal has been very successful in attracting rich migrants in recent decades, and the law makers are well aware of this. It is possible that cryptos could be taxed at a low fixed rate (10...15%), this would create clarity.
  3. Further, the legal process in Portugal takes quite a long time.... so it's not for tomorrow yet. There is also no talk of laws in Portugal being introduced retroactively. So don't panic...
  4. And the big asset is the NHR - statute which gives you 10 years tax exemption amongst other advantages for income from dividends. So trading cryptos in a company combined with the NHR statute can work wonders.
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