Portugal’s Golden Visa Program Now Accepts Indirect Bitcoin Investments

506 sats \ 33 comments \ @justanumber 5 Oct bitcoin

Wow this is crazy, look at this fugazi. It's mental! Who would do this? How many ways can they invent to relieve people of their bitcoin? They make it sound as if they're doing people a favour 😆 They must think people are stupid.

"Hold bitcoin" LOL you're not "holding" anything.

As far as I remember, they removed the real estate option. At least with that you'd have a half decent chance of keeping your investment. This is rugpull central lol

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110 sats \ 0 replies \ @xz 5 Oct

I don't want to be overly-sceptical but, here's a more attractive offer (if it were possible).

Portugese government allow residential purchases valued between 250,000 - 500,000 in Bitcoin, in exchange for visa on conditions such as:

Prior no criminality, no debt, background check. Signing an agreement that after 2~5 years, candidate can take a Portugese language proficiency test, and on passing, they can then apply for their residency.

Government gets certain amount of benefits from a healthier diverified portfolio of assets, and aid to property market but attracts people who are interested in Portugal and Potugese way of life

Visa applicant gets a stable offer (home and a route to a happy life in Portugal.)

138 sats \ 3 replies \ @398ja 5 Oct

When shit hits the fan, and it will, I'm not sure whether Western Europe will still be the best place to stay... I don't want the EU anywhere close to my bitcoins

42 sats \ 1 reply \ @justanumber OP 5 Oct

Indeed EUSSR is going to the dogs. It's getting hard to find somewhere to hole up in peace away from the insanity.

21 sats \ 0 replies \ @398ja 5 Oct

Eastern Europe is appealing, but one major problem that I see is the relentless expansion of the EU and the €...

0 sats \ 0 replies \ @Christine 5 Oct outlawed

stackers have outlawed this. turn on wild west mode in your /settings to see outlawed content.

12 sats \ 0 replies \ @xz 5 Oct

'indirectly holding' emmm?

12 sats \ 1 reply \ @OT 5 Oct

How can one "indirectly" hold bitcoin? You hand over 10 BTC and they let you stay?

I didn't know they removed the real estate option. Did that happen recently?

0 sats \ 0 replies \ @justanumber OP 5 Oct

Yeah, pretty recently.

14 sats \ 0 replies \ @Akg10s33 5 Oct

It doesn't surprise me! They are painting it very pretty and respect is given to those who have access... but I don't plan on giving away my bitcoin, so to speak... and by the way, trusting a "Government"... I won't do it...

14 sats \ 1 reply \ @SwapMarket 5 Oct

On the surface, this violates rule 2:

https://immigrantinvest.com/blog/rp-in-portugal-invest-funds-en/

0 sats \ 0 replies \ @konstantin21 5 Oct

i believe the "unbound fund" that you invest with is portuguese? maybe their web3 companies are as well

2 sats \ 0 replies \ @knorozov 5 Oct

Who wants an EU citizinship?

21 sats \ 9 replies \ @Coinsreporter 5 Oct

Thanks for the news. I've also heard that Portugal is a tax free country. How much is that true?

42 sats \ 6 replies \ @justanumber OP 5 Oct

Sure, if ppl want to hand over €500k to get "tax free". I have no idea what the tax situation is in PT

21 sats \ 5 replies \ @Coinsreporter 5 Oct

When you search for tax free countries, Portugal is there in the tops. Thanks for clarifying.

21 sats \ 1 reply \ @justanumber OP 5 Oct

Wow really! Maybe you get a certain amount of years in return for CBI or golden visa investment ? 🤷‍♀️ I'm wondering what the catch is.

Is it better to pay the tax than give over half a million? Unless you're some sort of billionaire...

0 sats \ 0 replies \ @Coinsreporter 5 Oct

Can't say man! But what I saw I just said but I believe you not the media.

1 sat \ 2 replies \ @Bell_curve 6 Oct

from Brave ai

Portugal offers several tax-free benefits and reduced tax rates for foreign residents, particularly through its Non-Habitual Residence (NHR) regime. Here are some key points:

NHR Regime

Introduced in 2009 to attract high-value foreign residents Offers reduced tax rates and some tax-free exemptions for the first 10 consecutive years in Portugal Foreign pension income is no longer tax-free, but benefits from a flat 10% tax rate Tax residents normally pay Portuguese tax on worldwide income, but NHR provides the opportunity to receive foreign income completely free of further Portuguese tax

Tax-Free Income

Under NHR, British expatriates can potentially receive most UK rental income, capital gains on real estate, interest, dividends, and non-Portuguese employment income tax-free

Value-Added Tax (VAT) Refunds

Some VAT paid in Portugal by taxable persons (self-employed and companies) may be refunded Workers or companies established outside the European Union may claim refunds for VAT paid in Portugal if they are covered by a general turnover tax and there is a reciprocity agreement between Portugal and their country of establishment

Tax-Free Shopping

Tax-free shopping is available in Portugal for tourists and non-residents To claim a refund, shoppers must obtain a Tax-Free form and have it approved by Customs at the airport or border crossing E-Taxfree kiosks are located near Customs offices in international airports, ports, and border crossings

Important Notes

The NHR regime is subject to change, and it's essential to consult with a tax professional to ensure compliance with current regulations The tax-free shopping scheme is only available for non-residents and tourists; residents are subject to standard VAT rates

Other tax-free benefits and exemptions may be available for specific professions or income sources; consult with a tax professional for more information

21 sats \ 1 reply \ @justanumber OP 6 Oct

I thought the nhr had ended so i asked brave AI. This is the problem. It can spit out defunct info. It needs to be checked and corroborated.

Also from brave AI: Portugal's NHR Programme End Yes, Portugal’s Non-Habitual Residence (NHR) tax regime has ended.

According to the search results, the Portuguese government announced the termination of the NHR regime in 2023, and it will no longer be available for new tax residents as of January 1, 2024. However, individuals who were already enrolled in the NHR regime as of December 31, 2023, will continue to benefit from it for the remainder of their 10-year eligibility period.

Additionally, a new tax incentive scheme has been introduced to attract individuals to Portugal, particularly those involved in scientific research and innovation. A special provision has also been set for individuals who become Portuguese tax residents in 2024.

It’s worth noting that while the traditional NHR regime has ended, some sources mention the possibility of applying for a new tax benefit that replaces it. However, this new scheme is subject to specific requirements and conditions, and its details are not yet fully clarified.

0 sats \ 0 replies \ @Bell_curve 6 Oct

Thanks for correcting

13 sats \ 0 replies \ @Bitcoiner1 5 Oct

If you hold your crypto assets for 1 year or longer, you have 0% taxes on Capital gain. Germany has the same regulations as Portugal.

0 sats \ 0 replies \ @tradenet 5 Oct

I heard it’s a great place for “laundry”. That’s how one of our prominent politicians in Canada produced a Venezuelan wife.

2 sats \ 3 replies \ @SwapMarket 5 Oct

Citizenship or five-year residence? When an announcement confuses the two, it screams scam to me.

10 sats \ 2 replies \ @justanumber OP 5 Oct

I don't think they're confused. They're just selling it on the possibility that you could get citizenship, after you've done your time with the residency. But I agree, definitely screams scam regardless. Most of these CBI and golden visa style programmes seem scammy to me, at least for your regular Joe who isn't a billionaire. This one seems to take the biscuit. They seem to be getting more and more elaborate in their stealing of your wealth in return for the rights to live in a country that may or may not be worth it.

0 sats \ 1 reply \ @SwapMarket 5 Oct

Yeah, gotta list the conditions for withdrawal of this "investment".

0 sats \ 0 replies \ @justanumber OP 5 Oct

The image on the tweet says "own bitcoin, obtain Portuguese/EU citizenship". Surely this is really pushing the boundaries of false advertising.

1 sat \ 0 replies \ @justanumber OP 5 Oct

The twitter thread is mental. The amount of supposed bitcoiners, with laser eyes, gushing all over this is suspicious. including a guy with 'BTC only" in his handle 😂

0 sats \ 0 replies \ @justanumber OP 5 Oct

I can't correct my original post now... But you don't give them any bitcoin, you give them €500k in fiat euro and it appears they invest it in companies that hold bitcoin - or something to that effect.

0 sats \ 1 reply \ @stack_harder 5 Oct

they should have an option where you just have to prove you have the private key to that amount of btc, as opposed to giving it to some org to hold

5 sats \ 0 replies \ @konstantin21 5 Oct

that provides no direct benefit to the PT economy though so why would they offer citizenship to you?

0 sats \ 1 reply \ @justanumber OP 5 Oct

You have to give them euro. It sounds nuts.

0 sats \ 0 replies \ @nitter 5 Oct bot

https://xcancel.com/0x_ale/status/1816609846004973704

0 sats \ 0 replies \ @nitter 5 Oct bot

https://xcancel.com/0x_ale/status/1815683546670858685

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