If I own and hold bitcoin for more than 1 year as a tax resident of Portugal, will I be subject to exit tax on this 1 BTC when I become a tax non-resident of Portugal?
As a tax resident of Portugal, you are subject to worldwide taxation on your income and capital gains. However, Portugal does not have an exit tax regime for individuals. Therefore, if you hold 1 BTC for more than 1 year as a tax resident of Portugal and then become a tax non-resident of Portugal, you will not be subject to exit tax on that BTC. However, you may still be subject to capital gains tax in Portugal when you sell or dispose of the BTC, depending on the circumstances. If you sell the BTC while you are still a tax resident of Portugal, you will be subject to capital gains tax in Portugal on the gain realized from the sale. If you sell the BTC after becoming a tax non-resident of Portugal, you will not be subject to capital gains tax in Portugal on the gain realized from the sale, unless the BTC is considered to be Portuguese-sourced income. It is important to note that tax laws and regulations can be complex and subject to change. Therefore, it is recommended that you consult with a tax professional who is familiar with the tax laws and regulations in Portugal to ensure that you are in compliance with all applicable tax laws and regulations.
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