Why are crypto investors moving to Portugal?

Discover the reasons why crypto investors are making Portugal their new home, a European haven, a great place to live and to avoid taxes.

Portugal is a great place to live. The small country located in the Iberian Peninsula, south of Europe, is worldwidely know to be a summer destination. However, lately some big crypto influencers have been sharing on social media how wonderful it is to live there. What is it that makes Portugal such an attractive place for cryptocurrency owners to live in? Let’s find out.

Crypto profits are not taxed in Portugal

There is a loophole in the Portuguese law that makes cryptocurrency impossible to categorize and, therefore, impossible to have its earnings taxed by individual investors.

As the Portugal News announced:

There are dozens of foreign cryptocurrency investors moving to Portugal for tax purposes, as Portugal is almost the only country in Europe that does not charge IRS on capital gains.

Along with other excellent tax incentives for foreigners who choose to relocate to Portugal, the country creates a whole fantastic atmosphere for investors from all over the world.

Mild weather, friendly locals, beautiful natural settings, and low cost of living are some of the other main aspects that may contribute to making Portugal a top choice for crypto holders.

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Originally published at https://ladynakamoto.com on February 28, 2022.