Residency or citizenship for tax-free crypto-trade?
Published at: 19/07/2024 06:52 am
Embark on a journey of financial freedom and global mobility. Turkey, the latest country to attract crypto investors with low taxes, is just the beginning. Other countries with exclusive citizenship or residency programs are also becoming hotspots for crypto investors, offering a unique and attractive investment opportunity that is not available to everyone.
Turkey's Low-tax Crypto and Citizenship by Investment Program
Turkey introduced a new law to tax crypto-trading with a 0,03% transaction tax. This burden is more than attractive—almost nothing. Moreover, Turkey's investor immigration program is one of the most affordable. There are four ways to invest in exchange for the valuable Turkish passports:
- Purchase of real estate for 400,000 USD
- Invest in Turkish manufacturing or business at least 500,000 USD
- Deposit a minimum of half a million American dollars in a local bank
- Create 50 jobs
Portugal Golden Visa and Crypto tax-exemption
Portugal, a great EU country to live in, offers a unique advantage to crypto holders. They do not have to pay taxes for crypto-to-crypto sales and non-fungible crypto assets, such as NFTs. The Portuguese Golden Visa, a well-known residency by investment program leading to citizenship, is currently under remodelling. The legislators are adding a new option called 'Solidarity Investment', and we are eagerly awaiting the details. For the latest updates, contact our experts at Discus Holding; we always stay ahead of the curve.
Malta residency, citizenship and crypto
Malta, the home country of Discus Holdings Ltd, offers a unique tax advantage for crypto traders. It imposes a Business Income Tax rate of 35% on crypto trades, but with the proper structuring, this can be reduced to 0-5%. Additionally, Malta offers a Capital Gains Tax exemption for long-term gains from selling crypto if it's considered "a store of value". This makes Malta a desirable option for crypto investors. In Malta, you can obtain "indefinite residence" if you contribute at least 68,000 euros, donate 2,000 euros to an NGO and purchase or rent a residential property.
Are you unsure about which country offers the best tax options for your crypto earnings? Don't worry, our team of experts at Discus Holding are here to guide you. Request a consultation, and let's crunch the numbers together. We have the knowledge and experience to ensure you make the most informed decision.