From Beaches to Bitcoin: Portugal is a Hot Crypto Destination!

Last updated: Jun 29, 2023
12 Min Read
AI Generated Summary
  • Portugal ranked world's best country for digital nomads in 2022 - Econews
  • In 2022, Portugal ranked sixth out of 163 countries on safest countries in the world. - Global Peace Index
  • Ranked best place to retire - Expat Financial

Portugal has quickly become one of the most popular destinations for digital nomads looking to settle down and take advantage of the country's friendly tax laws and crypto-friendly atmosphere. Although it’s not exactly a secret destination anymore, there’s still plenty of opportunity. Here's what Portugal has to offer for digital nomads looking to focus on crypto, visas, and taxes.

Crypto-Friendly Atmosphere

Portugal has become known for its progressive stance on cryptocurrency, making it an ideal destination for digital nomads who are involved in the crypto space. The country has not only legalized cryptocurrencies but has also set up a regulatory framework to govern the use of digital currencies. This means that crypto users can operate within a stable and predictable environment, making it an attractive location for those who wish to use cryptocurrencies for business or investment purposes.

Furthermore, Portugal's crypto-friendly environment is reflected in the country's vibrant crypto community. There are several meetups held per week and conferences held throughout the year that bring together crypto enthusiasts and experts, providing a valuable networking opportunity for those involved in the industry.

Crypto events

  • Cosmoverse Lisbon
  • Non Fungible Conference Lisbon
  • ETH Lisbon/ ETH Porto
  • Solana Breakpoint Lisbon
  • Websummit
  • WOW Summit Lisbon
  • Nearcon Lisbon
  • Block3000
  • EPIC WEB3 Conference

What Makes Portugal Different? Climate, Surf, Safety & Amazing Food!

Other than the obvious choice of choosing Portugal for the tax breaks and community, we have to mention the other pros. Some like to compare it to San Francisco or the West Coast of the USA with a Euro twist. The climate is mild, and the country boasts a laid-back atmosphere, great beaches to surf most of the year and affordable high-quality produce.

There’s something for everyone. If you want a full surf town experience, there’s Ericeira, Peniche, Costa da Caparica, or, if you’re a pro, Nazaré. There’s the Algarve, which is more of a resort area, or if you’re craving larger cities, Lisbon and Porto have more of a buzz and vibrant nightlife.


Portugal enjoys a Mediterranean climate with mild winters and hot summers. During the summer months, temperatures often reach above 30°C (86°F), and the country's beaches and coastal towns come alive with tourists. In winter, temperatures average around 15°C (59°F) in the coastal regions with occasional rainfall. The interior regions can be colder, but overall, Portugal's climate is pleasant and comfortable year-round.


Portugal is a prime surfing destination, offering some of the best waves in Europe. With over 800 kilometres of coastline, there are plenty of spots to choose from, catering to all levels of experience. The most famous surf destination is the town of Nazaré, known for its giant waves and hosting the biggest waves ever surfed. Another popular destination is Peniche, where surfers can find a variety of waves, from beginner-friendly beach breaks to challenging reef breaks.


Portugal is considered one of the safest countries in Europe and in the world, with low levels of crime and violence. The country's police force is efficient and trustworthy, and there is a strong emphasis on community policing. Portugal also has a high standard of living, a good healthcare system (public or private), and a stable political climate, making it an ideal destination for those seeking safety, stability, and a high quality of life.


Despite inflation hikes and the rush of new digital nomads and tourists bumping up prices, Portugal has amazing culinary options at significantly lower prices than most places. The country's coastal location heavily influences its cuisine. Expect loads of fresh Atlantic seafood, high-quality wine, and, of course, the world-famous Port wine. There’s something to satisfy the taste buds of any foodie.

Last but not least, Portugal has extremely friendly and welcoming locals who try their best to speak English.

Portuguese cuisine is characterized by fresh seafood, hearty meat dishes, and flavorful spices. Some of the country's most iconic dishes include grilled sardines, bacalhau (salted cod), and Pastel de nata (custard tarts). The country is also known for its excellent wines.

Portugal Crypto Tax 

Visa Options

Portugal offers several visa options for those looking to stay long term. The long-stay visas are an attractive option for digital nomads as it allows individuals to stay in Portugal for up to two years and can be renewed for an additional three years. To qualify for this visa, applicants must demonstrate that they have a steady income stream and are able to support themselves while in the country.

Nomads that choose to renew and remain for 5 years are also eligible to apply for Portuguese citizenship after that time.

Visa-free and unlimited travel throughout the rest of the Schengen area is yet another perk. Although the Golden Visa is now phased out, there are still quite a few options depending on your situation. Here’s a list of suitable visas for digital nomads:

  • D7 visa (passive income/retired)
  • D3 visa (highly qualified professional activity)
  • Digital Nomad visa (freelance/remote work)

 Crypto and Tax Portugal 

Why work with us at ‘Crypto & Taxes Portugal’

Finding competent tax advisers, lawyers and accountants in Portugal is easy, but finding ones that understand crypto and charge reasonable fees is rare. Although It is possible to learn all about crypto online, it’s not quite the same as being an investor yourself. Portuguese professionals tend to be quite traditional and digital currencies haven’t truly been adopted just yet.

This gives ‘Crypto & Taxes Portugal’ a competitive advantage as crypto natives, having used DeFi, owned NFTs, staked crypto/NFTs, ran validators, etc. We follow the latest regulation, but also advise you from our own personal experience.

As a newcomer in Portugal, you can expect to get stuck in bureaucracy. You might have been used to managing most of the communication towards the government online, but here in Portugal, most requests are managed in person. Besides that, the government expects you to manage your own taxes and registration, meaning they provide you with minimum warnings or alerts. There is also no option to do your taxes in English as Portuguese is the native language. Therefore, we always advise you to contact a professional before you make the move. There might also be some tax benefits for your personal situation. We would also advise you to contact multiple companies as pricing might vary.

We are an official partner of The Block co-work spaces in Portugal and worked with clients like Cryptocito (YouTuber focussing on Cosmos), Taxtris and CryptoTaxCalculator (Cryptotax software providers), Bit2me(One of the biggest Crypto Exchanges in Spain) and many validators, CEOs, Market Developers and Programmers.

cryptotaxportugal partners
Image via Crypto & Taxes Portugal 

We also provide documentation for crypto & tax software providers worldwide. If you are interested in knowing more about our clients & reviews or making your relocation to Portugal as painless as possible, feel free to visit our website

 Portugal crypto Tax 

Tax Benefits

Portugal is known for its friendly tax laws, which are particularly attractive for digital nomads who operate their businesses remotely. The country offers several tax incentives, including the Non-Habitual Resident (NHR) tax regime, which allows individuals to enjoy a flat tax rate of 20% on high-added value purposes.

With the NHR, it is also possible to pay 0% on foreign income in the form of dividends, interests, royalties and capital gains. The answer lies in the tax treaty between Portugal and the country where the incomes come from.

For instance, consider the TAX treaty signed between Portugal and the US. Suppose you have acquired the NHR status in Portugal, which implies that your dividends are exempt from taxes in Portugal. However, according to Article 12 Dividends paragraph 2 of the aforementioned tax treaty, the US retains the authority to impose a 15% tax on your dividends. Therefore, despite not being liable for taxes on dividends in Portugal, you may still be subject to a 15% tax rate in the US.

cryptotaxportugal services
Some of the Services Provided. Image via Crypto & Taxes Portugal 

Crypto Tax Structure

  • Crypto investing: In Portugal, crypto capital gains (Category G) are tax-free if you hold them for a period longer than 365 days. In Portuguese law, there is no differentiation between stablecoins and other cryptocurrencies. Only the conversion from crypto to fiat is a taxable event. Holding periods less than 365 days are taxed for a maximum of 28%.
  • Day trading: If you trade on a daily basis and it is your main income source, you could be considered a full-time trader(day trader). If that is the case, you have to set up a freelance activity (Category B) with a registered accountant that calculates your profits and losses.
  • Staking (newly minted tokens): There are multiple staking mechanisms, but Portugal clearly differentiates between staking rewards from “newly minted” tokens and other tokens. Staking rewards from “newly minted” tokens are taxed at a maximum of 28% in category E Capital Income. The staking rewards are not taxed at the moment of receiving but at the moment of cashing out. It is possible to accumulate your staking rewards over the year and only cash them out once a year. The once-a-year cash out then triggers the taxable event.
  • Receiving crypto payments: It is possible to receive payments in crypto. In order to register this income, you'd have to register a freelance activity (Category B). Receiving crypto payments are taxed at the moment that you receive them. For example, if you created an invoice for services €100, it is possible that the person pays you 107 USDT. The moment you have received the 107 USDT, you will have to declare that you received the equivalent of €100.
  • NFTs: NFTs are not taken into consideration in current crypto regulation and are therefore tax free as of 2023 IRS ruling.
  • Running a validator & other DeFi rewards: To declare the rewards from validation, you will have to set up an activity (Category B). Up To €200.000, there is something called “regime simplificado”, which is a simplified type of bookkeeping without the need of an accountant. Hereby, the government is not interested in your profits and losses. They just consider that 15% of the income is profits and 85% of the income are costs, so 15% will be your taxable income. If you would like to know more about crypto regulation, freelancing and tips to save taxes in Portugal, we can recommend you to visit the documents on our website.
  • Running a miner, Proof-of-Work: For earnings coming from Proof-of-Work, 95% is considered taxable income and 5% is considered costs. As Proof-of-Work is not considered sustainable, the Portuguese tax authorities have taxed it harder.
  • Airdrops (passive): There is a difference between active airdrops and passive airdrops. Passive airdrops are airdrops you receive without effort. These are taxed at 10%. Active airdrops are rewards that are acquired from actively engaging with a protocol. These airdrops should be declared in the same category as validation rewards.


The country's crypto-friendly environment, straightforward visa process, and attractive tax laws make it an ideal destination for those looking to operate their businesses remotely. Whether you're a seasoned crypto investor or a freelancer in the tech industry, Portugal has something to offer for every digital or crypto nomad.

Editors Note:

The team at Crypto & Taxes Portugal are a valuable resource for anyone looking to relocate to Portugal or stay on top of their tax obligations in the country.

If you are looking to relocate to a crypto-friendly country and want to know what other countries have a friendly attitude towards crypto, you may want to check out our Top Tax-Friendly Countries article.

If you have your sights set on relocating somewhere besides Portugal, I recommend reaching out to our friends at Offshore Citizen, who specialize in Global relocation and Tax services. 🌴



Disclaimer: The article is a guest post and conveys the opinions of the author alone. Coin Bureau and its affiliates do not provide tax, legal or accounting advice. This material has been prepared by a guest writer for informational purposes only and is not intended to provide or should be relied on for accounting, tax, or legal advice. You should consult your own advisors before making any decisions.

Crypto Taxes Portugal

Thomas Maas & Daniella Jasmine, are crypto enthusiasts living in Portugal. Thomas, Crypto Tax specialist & founder of Crypto & Taxes Portugal, has work experience in Accounting and Finance, became fascinated with cryptocurrency in early 2017. The same year, started offering freelance services which resulted in the fo undation of Crypto & Taxes Portugal. 

Daniella Jasmine, Crypto Visa Specialist, a digital nomad and trained software engineer having immigrated from Canada to Portugal, now guides clients from all corners of the planet through the Visa process.Both well known in the Lisbon Crypto community and present at local meetups. They can be found on Twitter under handles @taxes_crypto(Thomas) & @daniella_defi(Daniella).

Disclaimer: These are the writer’s opinions and should not be considered investment advice. Readers should do their own research.

Previous article
M6 Labs Crypto Market Watch October 20, 2023
next article
4 Steps to Get Your Crypto Taxes Done Before The April 18 Deadline