10-25-2020, 09:00 AM
Portugal: A Heaven for crypto investor? MUST READ
<!-- SC_OFF --><div class="md"><p>So today we're in November 2021 and Bitcoin just hit a new ATH of 102 570$</p> <p>You got more than 5 Bitcoins (works with any amount) and wish to sell some of it but you know that you will be hardly taxed on your profits for being smart and buying bitcoin at 10K. </p> <p>The idea of paying 30/40 or even 50% of taxes makes you already nauseous and you need a solution!</p> <p>After some research I found the paradise that we all need and were crypto are not taxed: PORTUGAL</p> <p>First of all it's a beautiful country with great food and nice beaches but also lovely people.</p> <p>But it's mostly the dream to pay zero taxe on your profits with crypto.</p> <p>What you need to do?</p> <p>First of all check if you need a visa to go there. For us European it's easy, we can just fly or drive there.</p> <p>Next step is to open a bank account, which is very easy, can be done online and any of those will do:</p> <ul> <li>ActivoBank</li> <li>Banco N26 (that's the one I have)</li> <li>Caixa Geral de Depósitos</li> <li>Millennium BCP</li> <li>Novo Banco</li> </ul> <p>After that you will need to rent something (or even buy) for at least 12 months to receive what they call a Non-habitual resident regime (NHR) then you will be able to send your profit to your bank account and say F*** You to the IRS or whatever organisation rips you off in your country.</p> <p>Depending on your original residencial country, you must check how many days/months per year you should live in Portugal to enjoy this privilege. For exemple I have to stay at least 6 months and 1 day there not to have to pay any taxes in France.</p> <p>I don't really have to follow that rule as I can always drive back home and no one will ever tell me anything, but it's as you like. </p> <p>Life is not so expensive there, again depending on where you come from, but if you got a decent amount of crypto to sell, it will always be better than having to give away hundreds of thousands of dollars for free while you could just use them for yourself!!!</p> <p>There's also a very interesting offer for people who decide to work, study or retire there as you won't pay any taxes at all for the next 10 years.</p> <p>They don't taxe crypto but they taxe other things, how would they survive otherwise? So think about it, but it could be a great safety net for your future.</p> <p>I hope it was helpful to you guys. </p> <p>Take care and thank you Portugal.</p> </div><!-- SC_ON --> Kind Regards R
<!-- SC_OFF --><div class="md"><p>So today we're in November 2021 and Bitcoin just hit a new ATH of 102 570$</p> <p>You got more than 5 Bitcoins (works with any amount) and wish to sell some of it but you know that you will be hardly taxed on your profits for being smart and buying bitcoin at 10K. </p> <p>The idea of paying 30/40 or even 50% of taxes makes you already nauseous and you need a solution!</p> <p>After some research I found the paradise that we all need and were crypto are not taxed: PORTUGAL</p> <p>First of all it's a beautiful country with great food and nice beaches but also lovely people.</p> <p>But it's mostly the dream to pay zero taxe on your profits with crypto.</p> <p>What you need to do?</p> <p>First of all check if you need a visa to go there. For us European it's easy, we can just fly or drive there.</p> <p>Next step is to open a bank account, which is very easy, can be done online and any of those will do:</p> <ul> <li>ActivoBank</li> <li>Banco N26 (that's the one I have)</li> <li>Caixa Geral de Depósitos</li> <li>Millennium BCP</li> <li>Novo Banco</li> </ul> <p>After that you will need to rent something (or even buy) for at least 12 months to receive what they call a Non-habitual resident regime (NHR) then you will be able to send your profit to your bank account and say F*** You to the IRS or whatever organisation rips you off in your country.</p> <p>Depending on your original residencial country, you must check how many days/months per year you should live in Portugal to enjoy this privilege. For exemple I have to stay at least 6 months and 1 day there not to have to pay any taxes in France.</p> <p>I don't really have to follow that rule as I can always drive back home and no one will ever tell me anything, but it's as you like. </p> <p>Life is not so expensive there, again depending on where you come from, but if you got a decent amount of crypto to sell, it will always be better than having to give away hundreds of thousands of dollars for free while you could just use them for yourself!!!</p> <p>There's also a very interesting offer for people who decide to work, study or retire there as you won't pay any taxes at all for the next 10 years.</p> <p>They don't taxe crypto but they taxe other things, how would they survive otherwise? So think about it, but it could be a great safety net for your future.</p> <p>I hope it was helpful to you guys. </p> <p>Take care and thank you Portugal.</p> </div><!-- SC_ON --> Kind Regards R