Lisbon, Europe Brief News – Portugal is one of the most bitcoin friendly country in the world. This is why it is a preferred destination for the war refugees of Ukraine. There has been a rise in the number of refugees leaving Ukraine. The estimated number of Ukrainians leaving the country is around 2.5 to 4 million. Portugal has become the preferred destination for refugees for several reasons. One of the major reasons is that Portugal is a crypto-friendly country. The other policies of the country are also favorable for the refugees.
Ukrainian Refugees Seeking Refuge in Portugal
Recent reports revealed the journey of a 35-year-old woman who took refuge in Portugal. She drove for six days across all of Europe to move to Portugal. She along with her mother, young daughter, and dog moved to Portugal. They are seeking refuge in bitcoin friendly countries like Portugal due to its crypto friendly policies. Her employer is NEAR Protocol; she is also a Ukrainian.
Portugal is one of the most crypto friendly countries in Europe. It is the ultimate crypto-friendly hub. People from Portugal are also one of the largest groups of foreign nationals before the war had started. This number has increased in the past three weeks. Almost 13,000 Ukrainians have already entered the country. Portugal’s government has approved certain measures and has simplified the process of entering Portugal. Portugal has welcomed many refugees from Ukraine since 2015.
Portugal – a Bitcoin Friendly Country
In bitcoin friendly states like Portugal, cryptocurrencies are regarded as a currency. It is not considered an asset but can be used to buy goods and services. Cryptocurrency can be used by individuals in the country freely without being charged with VAT. Other taxes like the Personal Income Tax are also not charged for using this currency.
If you are a businessman and you have a business related to crypto then your gains and profits will be taxed. The tax charges will be around 28% and 35%. If you are a crypto trader and it is the primary means of your income, then the taxes will be the same as well.
CryptoPotato reported that one of the leading electricity retailers in the bitcoin friendly country Portugal has accepted Bitcoin for payments. Back in 2021, Lisbon became the home to one of the biggest conferences – BreakPoint. Bitcoin is considered just like any other currency in the Europe.
