Portugal vs Germany Tax and Lifestyle crypto discussion
Both countries have 0% tax on crypto currencies after holding for a year.
My heart says the lifestyle is better in Portugal but safer to cash out with a bank in Germany.
What are your thoughts biz. This is coming real for me and for some of us soon. Also if you are a bong you can have a EU passport as a second passport in Portugal though investment.
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we have a shit ton of other taxes that will financially cuck you into oblivion
go to portugal
t. german
fuck off mutt, we're full
This germany will tax you silly, you will also get murder-raped by immigrants
I'm Portuguese but live in the UK and have a British passport. I can get a Portuguese passport and citizenship. Shall I go for it user?
I feel like I'll make it after this golden bull. Cashing out this time for sure.
Thanks for your insightful responses
I'm an ethnic bong myself. Of course it's worth it if you have held your crypto for a year without trading and it's capital gains. Portugal could even be tax free on all crypto. See you there.
Italian living in the UK here, so I have a European passport. Let's say I make a lot money in the bullrun.
If I sell the coins for fiat on coinbase, technically I'd have to report them right? So I'd have to move to Portugal before actually realizing the profit right?
Portugal seems comfy in the classic Mediterranean way, Germany seems fine too though
i have dual citizenship with germany and the US. Should i just bite the bullet and move home to der vaterland?
I'm Portuguese living in UK, with a Portuguese passport. My parents still own a home in Portugal. I've had a bank account in Portugal since I was young.
Would I be able to go to Portugal to cash out and then bring the money back to UK?
I bought crypto with the £ I earned in UK so not sure if I need to give/declare something to the taxman in UK.
If you make over 260k€ in gains germany will tax you for 45%. It's a fucking joke. That whole"hold for a year and you can cash out taxfree" is the most retarded rule as well it just fucks up your timing and doesn't benefit anyone.
what about linkies that held since 2017? Are we essentially tax free in germany now?
Report gains to HMRC then relocate
If you didn't swing trade then yes
I think you would need to stay out the UK five years
I have answers for all the questions of this thread but I have decided not to give them
Komm nach Hause!
german here
portugal is infinitely better because it LITERALLY HAS NO CRYPTO TAXES
here in Germany you have to hold for a year which means you have to be way smarter and cant buy whatevershort term pnd scam
no
IS THIS TRUE?
But then I'd have to pay tax right?
>Lifestyle
Retirement in Portugal is my end game. Can't wait. Almost there! Quero cheirar teu "bacalhau", Maria!!
for real? is this fucking true?
Reminder to newfags that moving to Portugal is a meme for bongs who havent dyor. If you use uk money to invest as a uk citizen it doesnt natter what currency or where u cash out you owe the hmrc tax and moving to Portugal wont avoid that. Portuguese banks will report you to hmrc. Only future crypto investments you make in portuguese currency as a portuguese citizen will be tax free.
if you manage to become a citizen
this whole 'move to X to cash out' is a literal meme, it's better to minimize taxes in your cuntry
>HMRC
>Her Majesty's Revenue and Customs
kek, who the fug would want to live in a cuntry where the queen bong's revenue comes from your hard earned pounders xD
Source on that? Any solution?
no, but seriously. If i were to cash out my linkies from 2017 in germany would i pay no tax? Zero? Or is it no tax on holding crypto but you have to pay when you cash out?
i am a german citizen. I have always been a german citizen due to birth, i just never realized it until recently. I could go get a passport this week.
completely tax free
congrats then
Yeah if you bought over a year ago and didn't touch it since you can cash out tax free