Looking for ideas for a tax structure for an individual living in Portugal who has NHR status whereby most income is crypto-related (although there is currently not much of it!).
The majority comes from passive investments that deliver withdrawals via crypto (some generate their returns from crypto sources, others via traditional trading markets).
Some token holdings are locked - in future they may hold value and/or deliver a passive income, or they may be worth zero!
Re. the NHR
To benefit from the NHR does a company structure need to be setup somewhere foreign for the crypto 'activities' (even if they are passive). And then that company pay dividends to the NHR individual.
Or...
Is it a grey area? ie. some aspects could be treated as 'foreign-sourced income' on an individual level whilst others cannot?
Any thoughts, opinions appreciated!
Thanks!
The majority comes from passive investments that deliver withdrawals via crypto (some generate their returns from crypto sources, others via traditional trading markets).
Some token holdings are locked - in future they may hold value and/or deliver a passive income, or they may be worth zero!
Re. the NHR
- As an individual, could the income from the investments be viewed as foreign-sourced income? (dividends/interest/royalties).
- What about capital gains from crypto holdings? Could these also be exempt with NHR status (if sold within the year re. 2023 budget)?
- Similar as regards any form of crypto 'passive' income; could these be viewed/treated as 'foreign-sourced income'? (assuming no mining hardware or activity taking place in Portugal)
To benefit from the NHR does a company structure need to be setup somewhere foreign for the crypto 'activities' (even if they are passive). And then that company pay dividends to the NHR individual.
Or...
Is it a grey area? ie. some aspects could be treated as 'foreign-sourced income' on an individual level whilst others cannot?
Any thoughts, opinions appreciated!
Thanks!
