Who wouldn’t like to sit by the beach, eating Bacalhau à Brás and drinking a glass of Portugal’s famous Vinho Verde while clocking in the remote hours at a Cayman Islands-based crypto firm? Well, if that sounds like you, you’re not the only one with the same idea.
In the past couple of years, Portugal has become a haven for those in Bitcoin and other cryptocurrencies. First of all, the country has one of Europe’s sunniest climates and a good reputation for local food and drink. Perhaps more importantly, however, until this year, the Mediterranean country had effectively no taxes on digital currencies.
Until Recently, Portugal Was a Crypto Tax Haven
In 2016, the Portuguese tax authority enacted a law stating that cryptocurrencies, being non-currencies, lack legal tender status in Portugal and consequently, should be exempt from taxation. As of this year, the rules have changed, but that doesn’t look likely to stop the…
