The speech of the President of the Regional Government of Madeira at the Bitcoin 2022 Conference created quite a stir.
While at the biggest Bitcoin event in the world, which gathered 30,000 Bitcoiners from across the globe, the current sitting President of Madeira, Miguel Albuquerque, promised to «create, in Madeira, a fantastic environment for Bitcoin», according to the Portugal News.
This news is spreading like a trail of powder, and the crypto newsrooms are now in a breaking news mode.
The President paid attention that the residents do not require to pay income taxes when they buy or sell Bitcoin, «I believe in the future and I believe in Bitcoin».
Madeira’s announcement has made Bitcoin Twitter ablaze with plans to visit and/or relocate to the island.
Did you know that Portugal hosts a lot of crypto-focused events? (such as the Solana Conference and Web Summit). This helps bring more crypto luminaries and make this country literally a home for crypto-minded people!
The island where Cristiano Ronaldo was born is ready to welcome crypto changes. Madeira wants to be a vital part of the crypto community when the whole world sees the entire global nation moving forward with crypto adoption. Unlike many European jurisdictions, there is no capital gains tax on Bitcoin throughout Portugal. And following other tax incentives, companies coming into Madeira can pay taxes as low as 5%. This is directly related to Portugal’s Madeira Free Trade Zone, which was created in the 1980s as a way to attract foreign investment.
But how relocate to Madeira? How to go tax-free of your crypto gains and live in a community of crypto-minded people? All this is possible due to the Portugal Golden Visa!
Portugal Golden Visa is one of the most popular Residence-by-Investment schemes. The visa is granted to non-EU nationals for investing in the Portuguese economy. It also allows applying for Portuguese citizenship within 5 years.
Besides, did you know that Azore Islands and Madeira are exceptional regions where you can invest in residential property and get the desired Portugal Golden Visa, according to the recent changes in 2022?
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