Should I move to Portugal for Crypto Tax?

Movingto Editorial Team
November 24, 2021

If you hold cryptocurrency and intend to liquidate your holdings, you should seriously consider moving to Portugal for tax purposes. Currently, Portugal does not tax the sale of crypto assets, however, it’s worth noting that if it’s your main source of income and you’re deemed a trader, this may not be applicable to you.

If you’re a long-term investor, there is no capital gains tax, or any other form of tax on crypto assets. It is one of the most competitive jurisdictions in the world on crypto tax and it’s relatively easy to move to Portugal and become a tax resident, should that appeal to you.

Many expats from Europe and the rest of the world have taken advantage of this benefit and made Portugal their home. As a result of this influx of high-net worth individuals, it has caused a boom in real estate prices and the local economy. As this trend continues, we expect this policy to come under increasing scrutiny from the EU and the rest of the world.

We recommend discussing your personal circumstances with a Portuguese tax lawyer to make sure it’s applicable to you.

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