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Wondering what’s going on in Portugal?
“Portugal is embarking on a major change of course as it considers levying taxes on cryptocurrencies, signaling a policy shift for one of Europe’s most crypto-friendly destinations.” Bloomberg.com.
In this video, Andrew shares news about taxes on crypto in Portugal and explains why this country is officially dead.
00:00 Start
0:16 New Taxes on Crypto
2:46 Living in Portugal
4:22 The Best European Countries for Business
7:00 Portuguese Golden Visa Program
Andrew is reading this article:
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Any government: Andrew, pay a single dollar in tax
Andrew: AYO FUCK THIS NATION. FUCK EVERYONE. YOU WILL GET A DOLLAR FROM ME OVER MY COLD LIFELESS BODY.
😒
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✉👆👆
I love your videos and take your opinions seriously but I think this statement is a bit extreme. “Officially dead” means there’s nothing left to be had. This simply isn’t true when it comes to Portugal.
I agree the Golden visa scheme seems to be a failure as people have been forced to wait in line for years while they are processed 👎.
But as an up and coming silicone valley of Europe and crypto metropolis, Portugal is going full steam ahead. I just spent 3 months there, go see for yourself.
Get your info straight. The bill got denied. could be enforced in a year or two though
They don't even bother to learn Portuguese or make friends with locals. No wonder locals hate these "investors" and "plastic citizens"
You’re WRONG!. Tax Bill in Portugal was REJECTED THIS WEEK. You should make more accurate researches before uploading a video.
can you make a video about the netherlands?
Saying and doing are two different things. This Government is slow to move. Could be years before this happens. Great country to live in in the meantime. 0% tax on crypto so long as you're not a trader.
This is great news! Maybe now the only people who will immigrate to Portugal will be people who actually want to live there and contribute something to the country.
Some countries attract you with "good deals", to trap you later along the way…
I agree everything about communism and other things but what is this being a “crypto investor”? You mean some people who just stole the money from the exchanges and run away to cayman islands?
you are an example of the worst of what there is in capitalism, you seem like a vulture obsessed with the greed of the capitalist world, people like you we hate in our country! our values are different…
I do know someone in Portugal who finally got their biometric appointment for a resident card and even the card itself so it can work out eventually but discovering that one can never really leave Portugal's tax system (and return/cancel one's NIF) is surprising because that implies a continual cost of paying someone to be one's Fiscal Representative in Portugal forever ! Portugal has very high taxes and educated lovely workers but it is a suicidal country where only Chinese people can set up businesses because they can be paid at home and out of sight of the Portuguese tax system.
Portugal is the ideal place for solar power companies to set up because it is so sunny, it is in Europe which has just stated that it must double solar within 5 years, it is in the far South West of Europe so gets sunshine when Berlin is already in darkness each evening and because they only get 3% of their electricity from sunshine currently because they get so much from similarly cheap and clean: hydropower and windpower to which intermittent solar power is the perfect partner. However, one would be crazy to actually live there because of the taxes even with NHR status and even if the bureaucrats did finally deliver.
Loveliest people, finest countryside, lowest cost of living but very difficult to arrange as a new business destination unless you have much guidance, preparation, patience and some ways to defer income especially single company capital gains.
It's a socialist country, we that surprised?
I'm Portuguese, miss my country dearly but the government are absolute morons.
And soon Portugal will have Crypto taxes as well.
Personally I believe that the West (EU-USA) are in ruins and have unpayable debts and the debts are increasing dractically daily. This falls latter on the citizens that have to pay more for everything while earning less of what they used to earn 20 years a go if you take in consideration the increase of the cost of living, this reflects also in the daily quality of life regarding general services, health care, education, infrastructure and everything else. At the end of the day, all the EU countries will have to follow what the EU dictates and we all know where this is going in a very near future.
The only solution here is to directly move into a country that has a tradition of $0 capital gain tax and this would include countries like Switzerland, Malaysia and just a few others.
Unfotunately Switzerland is very expensive and not easy to get a residency. If you evaluate the cost of living including food, rent, health care, safety and everything else including a $0 capital gain tax, at this time, Malaysia could be your best bet, but applying for your residency throughout the State of Sarawak (Borneo) because it has easier resident visa requirements than Malaysia Peninsula. The positive thing about been in Malaysia, is that if some day they change the capital gain tax policy, you still have many countries near you with interesting tax policies and low cost of living.
The truth is fantastic. Right on target, by foreigner point of view. I agree with you.
For Small business, sole trader look at France..yes France! . Hold on hear me out!! The micro enterprise scheme is so easy….and gets you into the system right away..no other EU country has this… I went to Porto thought is was quite sad place…and..to set up a small business there with SS…about 50 percent…. Poland, is easy always just have to pay Uncle Zus…about 150 US each Month th on top of taxes,. They don't make it that hard to do… Spain, Italy like PT large SS on top of Taxes
In short, the PTA considers that capital gains resulting from the sale of cryptocurrencies are not subject to Personal Income Tax unless it is considered that this activity is a professional or entrepreneurial activity of the taxpayer.
Only goes to show it's a waste of time moving. Just make the best of where you are.
It's taken almost a year to process my Golden Visa – having been approved back in July 2021.
Shit… Just was thinking of going there …
Fernando just destroyed Portugal there's so many other ways for Portugal to make taxes other than taxing directly all the jobs that would have been made in the sector there this guy is really dumb
It is all going away, we are just buying some time.
And as of May 2023 US citizens will need a Visa even for less than 90 days. Reevaluating Spain or will I just stay in Colombia.
Such a shame, because Portugal is number 1 expat friendly, also top 10 for safety and top 10 for cost of living, which may have changed. They are also part of the EU! Thanks for the too many expats, mostly from the US making it harder, longer and less desirable to move there!
Portugal = El Hilo bastardo d’ Spain – Always acting as the Opidome when it comes to Social Order, the reality is: They like to run their mouth but can’t back it up! Nice and simple –
Isn’t this what’s gonna happen globally anyway? No country wants to be a sucker for taking on an influx of ex-pats for bottom dollar prices
I always felt that Portugal would pull the rug on crypto investors but I'm surprised they changed tune so quickly.
Is this a surprise? People were not aware that Portugal is part of the UE?
Is this a commercial for Monero?
Is it ok to go there just for the D7 visa? 10 year tax exempt plan?
Mate you re NOT official or govt leader, so your, lets say, overstatements must be leftovers of your past american arrogance n inflated self importance..))) or just a bait headline. But the truth is hard to hide. Portugal is not a solution anymore…Risky is a new safe these days. Russia is a solution ))) like a beer flu preventive treatment, then dedollarisation, denazification, demilitarization and making the world safe, straight, honest, free of deep state and other BS solution. As pres Trump said,- future belongs to patriots.
Didn’t the come out and state that this was a non starter?
I'm portuguese, we dont need more foreigners with more purchasing power who just want to move here so they dont have to pay taxes, we cant afford to live in the city anymore because of people like you. Go to serbia, MOROCCO or MEXICO and keep spreading the word to your nomad friends about how terrible Portugal is. We thank you.
So, you thought that going crypto, you could avoid taxes. Like governments all over the world wouldn't get wise and adjust. Guess you're just going to have to switch back to actual money.
TREAT YOURSELF THE BEST
The world is our country, people. Why should we pay for something that is already ours by right of birth on earth? At the least it is a deception to expect that you will be treated best when you just pay seven or eight figures to seven or eight different countries. Not only could most people NOT afford it but we should NOT pay for the right to travel, live and trade anywhere in the world. At the most, besides the above, any form of restriction placed on mankind to roam earth freely to travel and trade, is a gross violation of our rights! Who, in their right mind, has the total insight to decide who are allowed to cross borders or not or even to instate a penalty for those who are not marked or masked or, heaven forbid, are from a black sheep country? If you do not stand on your rights YOU are the fool that's being played here and YOU are not treating yourself the best.
A self-owned world passport as world citizen is SUPREME to all and is inalienable.
Andrew, they're Portuguese.