Lisbon Is Becoming A Crypto Valley – Here is why!

Lisbon could become the next crypto valley in Europe! But why? Some people would say that Lisbon is the most beautiful city in Europe.

And there are many reasons why!

The cuisine is delicious, prices are low compared to other European capitals, and the weather is pleasant. Besides, there are many international communities in the city, and the architecture of Lisbon is gorgeous. And did I mention that the ocean is just a few kilometers away?

Because of this, Lisbon is becoming the “place to go” for many students, freelancers, entrepreneurs, content creators, and more.


But it does not stop here!


Lisbon is becoming more and more attractive to one specific industry: the crypto industry! So, the city is on the best way to become Europe’s crypto valley!


More and more projects have already moved to the Portuguese capital. So, what is it all about? Why are more crypto projects moving to Lisbon, and why should YOU consider moving to Lisbon as well?

Legal framework

The reason why many people from the crypto industry are moving to Portugal is because of taxes. If you are not a professional trader, you do not have to tax your crypto gains at all! No matter how long you held it or if you staked it.

To quote the Portuguese tax authorities:


“An exchange of cryptocurrency for ‘real’ currency constitutes an on-demand, VAT-free exercise of services.”


As a result, you also do not have to pay taxes when exchanging cryptocurrencies with each other. So, exchanging bitcoin into USDC is not a taxable event.


However, things get complicated if you should get classified as a professional trader. A professional trader is somebody whose job it is to trade. So, if your only income comes from trading, you will most likely be classified as a professional trader.

However, if you have another job or a company, you probably won’t be classified as a professional trader. But for this, we recommend contacting a tax advisor.

NHR program

Another incentive for moving to Lisbon is the NHR program! It is a tax status granted by Portugal to benefit from a special tax rate. The country decided to create the “non-habitual resident status,” short NHR. The new status should attract foreigners with high value-added potentials.

So, highly skilled employees, entrepreneurs, etc.

With an NHR status, you have a tax rate on income of 20%. In some cases, even a total tax exemption is possible.

Amazing lifestyle

Now, let us talk about the lifestyle a bit! How is living in Lisbon? Does the lifestyle in Lisbon fit into a crypto valley?

From a crypto perspective, there is much to see. First, many crypto meet-ups take place regularly in the city. E.g., the crypto meet-up at “The Block,” which takes place every Friday. Here you can meet other crypto enthusiasts and drink fancy beer.

The Block Cafe is the place to be on Fridays

Besides, many big crypto conferences will take place this year in Lisbon, such as LISCON, ETHLisbon, or a big Solana Conference. They could bring a lot of attention to the upcoming crypto valley!

In addition, you can find several co-working spaces in the city where you can connect with other people who work in the crypto industry full-time. 

But what about the beautiful things in life? Food and nightlife, for example? 

The Portuguese cuisine can be described with one word: fantastic!

Having a coffee and a Pasteis de Nata in the city is not only cheap but also delicious. For around 1,50€, you can get an Espresso with a Pasteis. A Pasteis de Nata is an egg custard tart pastry dusted with cinnamon.

But it does not stop here! If you have the time around lunchtime, why not grab a Bifana and drink a small beer? A Bifana is a pork sandwich served with mustard and Piripiri (spicy sauce).

And for dinner, why not check out Invicta Madragoa? It is a beautiful, traditional and small restaurant nearby the city center. Their specialties are the Invicta Steak, Octopus, fresh fish, mussels, oysters, and more! Also, their selection of wine is insane! You won’t regret your visit there! 

Octopus is a specialty at Invicta Madrgoa

And if you are more into wine, why not check out some of the wine bars in the city, such as Holy Wine and Antiga Restaurante. And in case you love red wine as much as I do, you have to try the “Conde De Arraiolos” in Antiga Restaurante! 

So, by now you have met some interesting people and had some delicious food and wine. 

Next stop: nightlife!

Of course, if you really want to go wild, Barrio Alto is the place to go for you. This is, more or less, the party district of the city. Here you can find dozens of bars and restaurants. If you are into rooftop bars, I highly recommend Rossio Gastrobar. From there you have the best view of the city.

Rossio Gastrobar has the best view in town!

If you want to stick to restaurants, you have to check out LX Factory. It’s basically a massive backyard with bars and restaurants. Here you can get everything: Pizza, Sushi, or Mexican food…..everything! 

And in case you want to go to a fancy club you will have a great time in “La no Rio.” This is an inside/ outside club with a view of the river. It is fancy and quite expensive. But if you want to go clubbing and be outside simultaneously, it is the place to go! 

Location

The location of Lisbon is ideal. The airport is just a 20-minute ride from the city center away. That’s crucial for every crypto valley as the communities are as international as they can get!

And beautiful cities, like Sintra or Cascais, are not far away as well. If you cross the river by boat, you will find beautiful beaches and surf shops everywhere.

That said, if you love crypto and surfing, there is no other option for you than to move to Lisbon.


And especially Sintra is worth highlighting here. It is a small town where the former royal family had its summer residence. Words can not describe the beauty of this place!

Sintra is as beautiful as it can get!


Besides, the Algarve is also not too far away. If you rent a car, everything is pretty close! You can also drive to Porto in one day and stay there for a night. And flights to Madeira, the Azores, or Madrid are very cheap (around 20€ – 30€). And from Madrid, you have several international flights to South America. So, Lisbon is also, from a strategic point of view, an excellent place to stay.

Living Costs

So, is it expensive to live in the crypto valley Lisbon? Compared to other European capitals, living costs in Lisbon are pretty cheap. For 1000€ you can have a good time here. If we compare this to London, Berlin or Paris, you won’t come far with 1000€ p.m. in your pocket.


Of course, you won’t live like King Ludwig for 1000€ p.m., but you will be fine if you avoid touristy places. If you even consider living outside of the city, like in Cascais, prices are even lower.


If you are alone, you can easily live for 10€ a day. One glass of beer in the local park, e.g., usually costs 1€.
Also, because of the cheap living costs compared to other European capitals, Lisbon is a trendy city for exchange students and young people in general.

Conclusion

As you can see: Lisbon has a lot to offer. The cuisine is delicious, and the lifestyle and legal framework are perfect for people who work in the crypto industry. So, the odds a quite high that Lisbon becomes the next crypto valley!

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