I’m new to this forum but it appears there are several people active here that are in a similar situation as me and I would like some advice/insights.
My situation is the following:
- EU citizen
- Made a nice gain from crypto and not liking the tax treatment in my current residence (EU country)
- Planning to apply for NHR visa in Portugal due to beneficial tax treatment of crypto and foreign income.
The details of this application process are mostly clear to me (I have discussed with my Portuguese attorney) but I have a few additional questions I would like to ask the community:
- If I want to withdraw funds from a crypto exchange to a Portuguese bank; which bank is the most crypto-friendly? I read Santander is one. Other suggestions?
- Will the bank ask many questions if you transfer funds from an exchange to their account?
- Any banks to absolutely avoid in this regard?
- How to prove income from staking? when you do trades you can share a trade log with the bank to prove the origin of the funds, but if you stake in a decentralized platforms it is not so straightforward I think.
My attorney from Lisabon told me that BCP Millenial bank allows for an account to be set up without the physical presence of the customers (the attorney can arrange this, if you provide certified copies of ID and power of attorney along with some basic info) but I don’t know if they are crypto-friendly or not.
- Let’s say I receive NHR tax status by, for example, August 2021. Would I have to file taxes on my income only since this date, OR would all income from the beginning of 2021 need to be reported in Portugal?
-Any good accountants that you can refer maybe? He/she need to be knowledgeable about income from crypto (capital gains, earning from lending/staking/providing liquidity/…) and income from abroad.
Thanks in advance!