06 April, 2024

Reading Time: 1 min

Portugal crypto taxes law: unpacking the latest crypto regulation

Portugal used to be a crypto tax haven until 2023 when the country started applying a 28% tax on short-term crypto gains from selling crypto held for less than a year.

In February 2024, the country passed a bill that obliges crypto holders to declare their crypto assets in an annual IRS tax declaration.

Author • Albert Ioffe

Legal and Compliance Officer, certified CAMS specialist

Portugal crypto taxes law: unpacking the latest crypto regulation

Long-term crypto gains are still tax-free in Portugal. Crypto holders also do not have to pay taxes for crypto-to-crypto sales and non-fungible crypto assets, such as NFTs.

However, income from the sale of crypto assets will be required to be declared as a part of IRS, Imposto sobre o Rendimento das Pessoas Singulares, which is an individual income tax. The law establishing these conditions came into force in February.

Crypto assets gains are to be declared in either Appendix G, which contains information on capital gains, or Appendix B, which is for self-employed people and their income if they are registered as independent professionals engaged in the buying and selling of crypto assets.

Income from the sale of crypto assets with a holding period of less than a year is taxed at a 28% rate. If they were held for more than a year, the taxpayer is exempt from paying any tax but must declare the capital gain in Appendix B.

Is Portugal a tax haven?

Portugal remains a notably tax-friendly destination, though the NHR regime was discontinued in January 2024. Despite this change, certain non-residents can still benefit from a favourable income tax rate of 20%.

Relocating to Portugal and acquiring a residency permit is attainable through the Golden Visa program. This visa is accessible to foreign nationals who invest a minimum of €250,000 in the country’s economy. Investment avenues include bolstering arts and cultural heritage, funding research endeavours, purchasing units in investment funds, establishing a new business, or injecting capital into an existing enterprise.

The residency permit initially spans two years and is renewable, with the possibility of extension. Following a five-year period after requesting a residence permit, the investor and their family are eligible to apply for citizenship.

Will you obtain residence by investment in Portugal?

Master the residency process
Get expert tips and documents
Estimate costs accurately

Download practical guide

Trusted by 5000+ investors

More news

Portugal citizenship reform: insights from Immigrant Invest lawyers

Portugal’s parliament approved amendments to the nationality law on October 28th, 2025. The proposed changes extend the required residence period for citizenship 5 to 10 years for most foreign nationals. The law now awaits the president’s decision. Paul Lauber, Consultant and Compliance Anti-Money Laundering Officer, and Marielle Burti, in-house advocate at Immigrant Invest, explained how the amendments could affect current and future Golden Visa holders.

Paul Lauber

2 min

10 November, 2025

Romania to launch Golden Visa offering 5-year EU residency

Romania is set to launch a Golden Visa program, creating a new pathway to residency in the European Union through real estate purchase. The minimum investment threshold is €400,000. Elena Ruda, Chief Development Officer at Immigrant Invest, has reviewed all available details of the upcoming program and analysed the opportunities it could create for investors.

Elena Ruda

7 min

22 October, 2025

Portugal and other EU countries tighten their citizenship rules

Portugal approved amendments to its citizenship law on October, 28th, 2025. The law increases the naturalisation period from 5 to 10 years and allows citizenship to be revoked for serious offences. Discover which other EU countries are tightening citizenship rules in 2025, and where the route to a passport remains the quickest. Célia Castilho, Head of the Portuguese office at Immigrant Invest, analysed all available sources and explained how the changes will affect applicants.

Célia Castilho

3 min

20 October, 2025