DLS Dubai - Company Formation & Bank Account
Turner Little - Company Formation Agents
Offshore Bank Accounts
UK Ltd with emi bank account

Quick Cashout Bitcoin - Portugal vs Malta for EU Citizen

Bank Accounts, Company Formations, Tax Planning, Residency Solutions, and more
CALL US ON +971 50 4467827 - TO SETUP YOUR NON-CRS COMPANY STRUCTURE IN DUBAI.

Peja

New member
As an EU resident, where is it faster to move to, register and fulfill the requirements to sell a long-term position in bitcoin tax free?

My understanding:

Portugal - the NHR scheme has no minimum day requirement. I.e. once you rent an apartment, file the paperwork and get your Portuguese ID (a couple weeks?) - you are considered a tax resident and can sell bitcoin tax free?

Malta - from what I've heard your ID takes 4-8 weeks to issue. On top of this, is it necessary to apply for non-dom status? Also, do you need to wait 183 to be considered tax resident and able to sell tax free?
 

dread pirate

New member
No. As a general rule, an individual is qualified as a resident of Portugal if he is present in Portugal for more than 183 days, consecutive or otherwise, in any 12-month period. Getting into the NHR doesn't make you a resident for tax purposes.
Maltese banks are not crypto cash out friendly.
 

maxmmm

Entrepreneur
The question is what is the exit taxation situation in the country you are running from.
 

Dreamy

New member
Btw is anybody know, is is possible to by property in PT for gold visa for btc/eth or other crypto?
 

dread pirate

New member
Btw is anybody know, is is possible to by property in PT for gold visa for btc/eth or other crypto?
might be possible but property deals are usually done in cash and prices are bargained on the promise of cash now not the promise of higher returns later in crypto appreciation. I think it will be a hard sell but you never know - maybe in Lisbon it could be possible?
I don't think there are any legal restraints but i'm not a property advisor
 

CyprusLaw

Mentor Group Gold
As an EU resident, where is it faster to move to, register and fulfill the requirements to sell a long-term position in bitcoin tax free?

My understanding:

Portugal - the NHR scheme has no minimum day requirement. I.e. once you rent an apartment, file the paperwork and get your Portuguese ID (a couple weeks?) - you are considered a tax resident and can sell bitcoin tax free?

Malta - from what I've heard your ID takes 4-8 weeks to issue. On top of this, is it necessary to apply for non-dom status? Also, do you need to wait 183 to be considered tax resident and able to sell tax free?
Have you considered Cyprus? Tax residency is obtained on the 60-day rule. living for 60 days in Cyprus, and not more than 183 days in any other jurisdiction).

Also, property can be purchased as an investment in Cyprus using bitcoin.
 

jonnyG

New member
I heard you have to have stable job and hold during year to be tax free in Portugal. So it is not crypto friendly. They will change the law next year for worse.
 

Dreamy

New member
might be possible but property deals are usually done in cash and prices are bargained on the promise of cash now not the promise of higher returns later in crypto appreciation. I think it will be a hard sell but you never know - maybe in Lisbon it could be possible?
I don't think there are any legal restraints but i'm not a property advisor
It's just that many here on the forum talked about the correct exit from crypto. Alternatively, it can be just buying liquid real estate in different countries. In the Czech Republic, for example, there have already been cases of previously selling real estate for bitcoins. I do not know how it works but it seems to me that you send btc to the real estate agency account, they convert it to cash and send cash to property owner. Maybe such things also can be done in PT.
 

CyprusLaw

Mentor Group Gold
It's just that many here on the forum talked about the correct exit from crypto. Alternatively, it can be just buying liquid real estate in different countries. In the Czech Republic, for example, there have already been cases of previously selling real estate for bitcoins. I do not know how it works but it seems to me that you send btc to the real estate agency account, they convert it to cash and send cash to property owner. Maybe such things also can be done in PT.
This can be done in Cyprus as well.
 

jonnyG

New member
It's just that many here on the forum talked about the correct exit from crypto. Alternatively, it can be just buying liquid real estate in different countries. In the Czech Republic, for example, there have already been cases of previously selling real estate for bitcoins. I do not know how it works but it seems to me that you send btc to the real estate agency account, they convert it to cash and send cash to property owner. Maybe such things also can be done in PT.
What about moving to a tax free country stay there 6 months and send your money back to you country ?
Half of the instagram influences are living in Dubai flashing cars and money and no one cares about their taxes.
Theres too much fearporn here in this forum.
 

dread pirate

New member
I heard you have to have stable job and hold during year to be tax free in Portugal. So it is not crypto friendly. They will change the law next year for worse.
This is nonsense. Perhaps you should do your own research on the NHR scheme and the different visa's offered to people such as the D7.
How does your first statement support Portugal not being crypto friendly? The government has stated that they wont tax it!
How do you know the government will change it next year?
Your post is predicated on third person (mis)information and basic ignorance.
Stop spreading FUD!
 

cryptorium

New member
I think Malta makes sense to have a company, while Portugal could work well for you as a permanent residence due to the low tax they apply for foreigners. But as pointed in this thread depends on where you come from. If you happen to be a kind of Family Office, for example, Jersey is turning to be interesting for them. "Depends"
 

jonnyG

New member
This is nonsense. Perhaps you should do your own research on the NHR scheme and the different visa's offered to people such as the D7.
How does your first statement support Portugal not being crypto friendly? The government has stated that they wont tax it!
How do you know the government will change it next year?
Your post is predicated on third person (mis)information and basic ignorance.
Stop spreading FUD!
Do more than 1 trade and you are considered a professional trader AKA you will get taxed heavyly like in Malta, Slovenia, Switzerland or any other EU "crypto friendly" country. I did a lot of research so I know what I'm talking about.
 

jonnyG

New member
Ok I did look into NHR and it says you need do it before March 31, so OP is late. The NHR seems interesting but it looks you need to proove a profesion. I don't think professional trader is one of them. Other than that when Bitcoin will go balistic make sure every EU country will start taxing the corn. There are news where Portugal is going to do that next year.
 

dread pirate

New member
Do more than 1 trade and you are considered a professional trader AKA you will get taxed heavyly like in Malta, Slovenia, Switzerland or any other EU "crypto friendly" country. I did a lot of research so I know what I'm talking about.

Ok I did look into NHR and it says you need do it before March 31, so OP is late. The NHR seems interesting but it looks you need to proove a profesion. I don't think professional trader is one of them. Other than that when Bitcoin will go balistic make sure every EU country will start taxing the corn. There are news where Portugal is going to do that next year.
It's open to anyone including retirees.
Where is this news? Provide a link please
 

Dreamy

New member
What about moving to a tax free country stay there 6 months and send your money back to you country ?
Half of the instagram influences are living in Dubai flashing cars and money and no one cares about their taxes.
Theres too much fearporn here in this forum.
Not so simple. I asked about buying real estate for cryptocurrency, for example, from my wallet. What you are talking about is different. Here you must first transfer all the cryptocurrency to the exchange like Binance, then change it to dollars there, open an account in a Dubai bank, send these dollars from the exchange to a Dubai bank. There will be a lot of questions in this, incl. from the side of the exchange where you got your bitcoins from, as well as from the side of the Dubai bank.

Buying real estate directly with cryptocurrency looks much more interesting. Especially if you do not need to return money to the country of your citizenship.

Buying real estate in Portugal sounds more better, including that you will get Gold Visa and will be able to have a good rent out income from your property in next 5 years, and after will get PT passport. For not european people this is good idea, IMO. Only one thing is a questions - how to buy real estate there for crypto, directly.
 
DLS Dubai Company Formation and banking solution
DynaPay Multi-currency Business Accounts
DLS Dubai Company Formation and banking solution
Offshore Bank Accounts
Top