Crypto Tax Setup in Portugal for trading

[thelovers]

Greetings everyone

I have come up with an idea which I plan to discuss with a financial planner, but I wanted to propose it and to hear your thoughts. As a trader, could I benefit from the Portugal NHR scheme which among other things offers a 0% tax rate on foreign income, while getting paid from a company set up in Isle of Man (which offers a 0% tax rate on capital gains) where I would do the trading from?

The idea seems good and legal, most importantly! Thanks, love you all

 

[jafo]

thelovers said:
Greetings everyone

I have come up with an idea which I plan to discuss with a financial planner, but I wanted to propose it and to hear your thoughts. As a trader, could I benefit from the Portugal NHR scheme which among other things offers a 0% tax rate on foreign income, while getting paid from a company set up in Isle of Man (which offers a 0% tax rate on capital gains) where I would do the trading from?

The idea seems good and legal, most importantly! Thanks, love you all
Click to expand...

Sadly, IoM is on Portugal's blacklist. Confirm it here for yourself:
Portugal's Blacklisted jurisdictions

 

[thelovers]

jafo said:
Sadly, IoM is on Portugal's blacklist. Confirm it here for yourself:
Portugal's Blacklisted jurisdictions
Click to expand...

Oh, my bad, thank you very much for this source, I was completely off track

Could a similar thing be done with a company set up in a place that doesn't tax capital gains? I assume it would be possible, still. There must be a way!

 

[jafo]

thelovers said:
Oh, my bad, thank you very much for this source, I was completely off track

Could a similar thing be done with a company set up in a place that doesn't tax capital gains? I assume it would be possible, still. There must be a way!
Click to expand...

This is outside my circle of competence. When I researched Portugal and this came up, I dumped Portugal. When "bad people" (=people establishing these rules in Portugal)) make things convoluted, I exit. There is NO good business with bad people.

Last edited: Jun 11, 2023