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Quick Cashout Bitcoin - Portugal vs Malta for EU Citizen

#21
dlttrading said:
From my understanding it would be very hard to buy directly with crypto . the laws are different from country to country. some countries want that you open account in your name and deposit the money there first. i would recommend to get cheap portugaese mortgage . they give 70% for less than 1%. you need docs of your employment income. very easy
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Get a golden visa using a mortgage? How do you get a portugese bank account remotely?
 
#23
jonnyG said:
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.
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What’s your source for this claim. I have read a lot about it and never came across such info
 
#24
Dreamy said:
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.
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You can't - why would an agent or owner take the depreciation risk?
Portuguese real estate is hot property right now (pardon the pun) with no shortage of buyers. Add to this the fact that golden visa regulations on where you can buy are about to change next year for the worse so why would anyone want to deal with the hassle of crypto?
A solution would be to use an OTC company and have them send the money to the agent or buyers account.
 
#27
stronco said:
JonnyG is wrong.
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Yeah he is clearly full of cow manure. Almost all his comments are misguided opinions, here-say, or outright FUD

Maria Anna Pescadinha, a Portuguese attorney was recently on Crypto tips youtube channel and she said Portugal not taxing crypto is not ending anytime soon bc there is currently no law proposed to change the status of btc to a coin of legal tender. If it's not legal tender u can't be taxed on it.
 
#28
Dreamy said:
What you think about this?
https://cryptoemporium.eu/category/property/A lot of similar sites in google. So this is real - I mean to buy something like this in many countries including PT
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This company list approximately 8 properties for sale in all of Europe with 3 in Portugal
Not exactly a great selection.
Maybe in he future it might be viable and many more sellers interested but when this bull market is over sellers will likely dry up
 
#29
dread pirate said:
This company list approximately 8 properties for sale in all of Europe with 3 in Portugal
Not exactly a great selection.
Maybe in he future it might be viable and many more sellers interested but when this bull market is over sellers will likely dry up
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That website is already gone ?!
 
#31
JosephLL said:
This always triggers a tax event. Every country will always treat that as: btc->fiat->real_esrate transaction. First step triggers a tax event.
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No need to generalize the example of one country to the whole world.
You can't say about *any* country in the world if you don't know for sure every law in every country.

In fact it very depend on each country laws. Some countries trigger tax event, some not, at some crypto is a legal tender.

Even number of countries have workarounds where taxable event could be legally avoided.



Simplest example - countries where real estate could be purchased with pure cash without red flags. These countries could be used for purchases properties with crypto easy-peasy.
 
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#32
John Spectre said:
No need to generalize the example of one country to the whole world.
You can't say about *any* country in the world if you don't know for sure every law in every country.

In fact it very depend on each country laws. Some countries trigger tax event, some not, at some crypto is a legal tender.

Even number of countries have workarounds where taxable event could be legally avoided.



Simplest example - countries where real estate could be purchased with pure cash without red flags. These countries could be used for purchases properties with crypto easy-peasy.
Click to expand...
Best option for BTC->Fiat is "purchase real estate" without any headache (Personal View)
Crypto taxation is still developing thing, whole crypto industry is not matured yet.
Better to not to declare any Crypto holding to any government.
 
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