Portugal continues to occupy a prominent position in the European fintech market, including within the crypto-asset sector. With the development of the European Union’s regulatory framework, including the MiCA Regulation, the regulation of this sector has become more structured and harmonised.
The Banco de Portugal oversees the activities of companies operating with crypto-assets in Portugal.
The regulatory approach focuses on:
- ensuring the transparency of transactions
- compliance with AML/KYC requirements
- managing risks associated with digital assets.
Companies operating in the crypto-asset sector may provide a wide range of services, including:
- crypto-asset exchange operations
- digital asset transfers
- custody and administration of crypto-assets
- provision of technological solutions related to the handling of digital assets
The specific list of services depends on the business model and applicable regulations.
Portugal offers a stable and predictable tax system within the framework of European Union legislation.
At the same time, the tax regime for crypto-assets has undergone changes towards greater formalisation. The applicability of tax incentives depends on the business structure and compliance with established requirements. Particular attention is paid to issues of economic presence and transparency.
The International Business Centre of Madeira offers special conditions for international businesses, subject to compliance with established criteria.
