🔸 Crypto friendly Countries
🇵🇹 Part 2: Portugal 🇵🇹
🧵 Thread #40👇
▫️ tl;dr
Portugal, one of Europe's oldest and EU founders,
will join the MiCA.
Digital nomads like the landscape, temperature, cheap cost of living, and crypto- and tech-friendly atmosphere.
Taxes: friendly for hodlers and expensive for traders.
▫️ History
Portugal is one of the oldest countries in Europe.
Portugal rose to power during Europe's "Age of Discovery" in the 1500s and 1600s.
In 1986, Portugal became a founding member of the European Union.
It has a stable democracy.
▫️ General
Portugal's Digital Nomad Visa for non-EU citizens, allows remote workers to live and work in the country for up to two years.
Its beautiful surroundings, mild climate, cheap cost of living, and crypto-friendly taxes make it incredible.
▫️ Regulations
Portugal allows trading and keeping coins without restrictions.
The European Union will regulate the market for Crypto with the
Markets in Crypto-Assets (MiCA).
This will go into operation sometime between 2024 and 2025.
twitter.com/wssounddesign/status/1650834866710409216?s=20
▫️Tax
Cryptocurrency sales of fewer than 365 days are taxed at 28% on capital gains when done with fiat money.
Combining income raises the tax rate from 14.5% to 53% for Portuguese residents.
Capital gains tax applies when leaving Portugal.
▫️ Crypto ATMs
According to @CoinATMRadar
there are 10 crypto ATM all over Portugal.
While this is remarkable for such a small country,
you have to be aware of the high fees.
▫️ Facts
@LunarStrategy is a Web3 native marketing team focused on community growth, strategic partnerships, and authority in Lisbon.
There are several events related to
crypto/Web3/NFTs in Portugal this year, like:
@NFCsummit or @BlockDownConf
▫️ Conclusion
Portugal has a safe environment, reasonable prices, fast internet connections, and pleasant weather.
Just picture yourself taking your laptop to this beach and creating the next great Web3 company.