All those countries that have golden visas....first they want to attract investors, then they think that they are "selling out" too cheap.
I wish there would be some larger country in EU that would announce something like that for bitcoin investors.
Portugal looked OK for a while, but now they closed Lisbon and Algarve for residential investment, only commercial remains.
Besides, Portugal is more attractive for non-US because US citizens pay taxes to almost the same degree, independently of where they live (with some deductions for foreign income). If taxes stay the same (no more than 23.8% for cap gains), I would stay put.
I looked into Puerto-Rico before-lots of hassle and an unclear benefit.
It would have paid nicely to buy btc in 2014-2015, then move to Puerto-Rico, then sell out in 2021 and move back to the mainland.
No taxes on cap gains accrued between 2016-2021 in this scenario as it only affects cap gains AFTER you moved in.
I hear that a few ICO a-holes did exactly that.
But...I have had enough of tropics and subtropics
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I don't know exactly about US and if maybe you can optimize some parts, but it's correct regarding EU citizens.
If you got the benefit of NHR tax scheme in Portugal, you don't pay any tax on foreign capital income (interests, dividends, royalties) for 10 years.
NHR tax scheme or not, if you are tax resident in Portugal, you dont pay any tax on crypto capital gain after holding at least 365 years (have to declare on the tax form but its tax free).
Coupled by if you allow a % of your cash out in some ETFS / stocks with dividends distributing like with IB brokers, you dont pay any tax and no WHT tax either (most of their ETFS are based in UK/Ireland so no WHT). Same if you stack some dirty fiats, no WHT, no tax on it then. It's just some examples that you can really well optimize, in you have these kind of incomes.
So basically, if you are a long term holder + living from passive income (dividends, interests) Portugal is/was really a good alternative in Europe.
As I said previously they stopped the NHR from 01/01/2024 (for the new applicants), but they are working for another tax incentive scheme for 'wealthy' digital nomad and HNWI+
So probably something similar can happen later this year or next year.
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