Cryptocurrency (staking rewards) as passive income for D7

Hi Alexander,

You make a good point about how do you prove the income. Crypto Tips have a Youtube clip talking with their crypto lawyer, Maria Pescadhina. She seems to be the lawyer to contact!

I'm interested in your findings!

michele

Hi Alexander,

Fellow crypto enthusiast here 🙂

I am also currently working toward my D7, however I am not using my crypto passive income as part of my application as i have read that it may be tough to prove (gov not versed in crypto...so i cant help with your question.

However, i am interested as to why you chose Flatio to secure a lease, as i am also considering that ootion and would like to chat with you...but ibdontvwant to hijack this thread, so please feel free to DM me.

Wish you the best in your application!

Hi Alexander,

I am also interested to know the outcome of your D7 visa application via this crypto passive income source. Did it work out for you ? I plan to use the similar route then. 

Thanks,

arin

Personally, I don't think there would be an issue to demonstrate income via the method outlined in the OP. One caveat would be that some track record would be required and I believe that would be a least 6 months of such transactions. Due to price volatility, the amount transferred should be well above the minimum thresholds set.

Please be aware that staking rewards could well turn out to be taxable in Portugal.  The law is not clear on this and some people (like the CryptoTips lawyer) take a very liberal view of what is tax free.  That position is by no means shared by all (or even most in my experience) other tax and legal professionals in Portugal. It is certainly not settled law and no guidance has been issued from the tax office on anything other than crypto capital gains.