Portugal 🇵🇹 VS Montenegro 🇲🇪(Taxes, Lifestyle, Crypto, etc)
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- Опубліковано 10 лип 2024
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We got an enquiry from one of our subscribers who wanted to know how Montenegro and Portugal compare, especially when it comes to taxation on crypto.
That’s why today we’re continuing with our favorite series: country comparison!
We will talk about Montenegro & Portugal
Which country is better? Which should you consider? What’s the tax situation? How about lifestyle in both countries? Which is better tourist destination?
As you probably already know, Portugal has famous NHR (non habitual residency) program, which can potentially let you live in the country for up to 10 years tax free!
They also offer Golden visa, that can lead to citizenship in 5 years!
Montenegro offers citizenship by investment program. Country is quite affordable and welcoming to foreigners.
They also have 10% flat tax, which makes it quite attractive for foreigners business people.
Which of these two is a better choice for you?
Let’s dive in and find out!
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Thank you michael for sharing your experience with us. I am looking forward to see more from you in the future. Stay safe and have a happy life.
Thanks! :)
Portugal vs. Malta would be interesting to hear
if you have the money do malta
I’m in Montenegro 🇲🇪 now came from Canada I’m a crypto trader and never going back to Canada 🇨🇦 again. Love it here
Wow nice. Where from Canada?
How do you do regarding taxes man? Just pay flat 9% or what?
That's amazing. I'm soon moving from the UK. Will come and visit next April.
@@cryptoFi would be interesting to hear
Thanks Mike for these super helpful videos. Any chance you could do a comparison video on Madeira vs Sicily vs Greece. In particular, would be great if you could add points from the perspective of an active futures trader (e.g. availability of stable fiber optic internet, taxes and island life). Thanks again.
great video! I've lived in Lisbon, not yet in Montenegro. I love the mountains close to the beach & a digital nomad..Montenegro may be next for me. :)
You should absolutely visit! :)
Thanks for this wonderful video, Portugal vs Montenegro. Two beautiful countries.
Glad you enjoyed it!
@@OffshoreCitizen 😀
I’d also say waves in Portugal are a lot rougher as it’s the ocean not an inland sea like in Montenegro
Now that's an interesting comparison Michael.
So both use the Euro however isn't Montenegro a non-CRS nation with greater privacy in banking?
Also when in Montenegro don't you have to stay put with tougher visa requirements?
I would be tempted to compare Montenegro with Andorra...
Thanks for another great video.
Thank you Michael. I appreciate any comparison Portugal 🇵🇹 vs. anyplace in Europe/EU 🇪🇺 since that’s my primary focus for now. Once I visit PT (hopefully this CY), I might change my mind. Who knows? 😃 On a slightly different track, I’d like to know if you can discuss brokerage account options in PT vs. USA. Items might include: ease to open an account, online access, mutual fund offerings, fees, ability to withdraw, does it make sense to transfer all/some brokerage account assets to PT should I move there, etc. Thanks. 👍🏻
I don’t think I’ve seen it on your channel yet, but can you explore what I think is the relatively new digital nomad visa in Greece I’ve been hearing about? Especially what are the specific requirements and how much time does one need to spend there to qualify? BTW, Portugal and Montenegro are two of my favorite countries. Been going to Montenegro since 2007, it’s amazing.
Trying to go to Lisbon in September. Not sure if that is going to happen because of increase in Covid19 cases. Thanks for the great info - Tarheel Chronicle.
Interesting comparison. The key point is to get over to Montenegro or Portugal to see which you prefer. Certainly if you’re someone considering Citizenship by Investment (CBI) the clock is ticking in Montenegro as it stops 31 December 2021. I’m seeing Crypto traders moving over and Digital Nomads everywhere in Montenegro. Real Estate is now moving quickly, especially in the Kotor Bay and Tivat Bay areas.
Why are crypto traders moving there? What are the advantages?
@@cryptoFi no special tax legislation. No capital tax applies.
So true. Montenegro is way more attractive than Portugal to me. I enquiried 3 properties last week within the budget of 300-800k and they all were taken down within a week. They're sold like crazy.
Would really like to hear your thoughts on Portugal vs Italy.
Ah great comparison, sure!
This is actually a video that I've been waiting for. Nomad Capitalist brought up Montenegro as a nice summer spot to reside and a comparatively low tax country.
What do you mean with online infrastructure?
I m moving to Montenegro soon from the UK. Taxes long term are lower than in Portugal
40 in centigrade is 104 in Fahrenheit?
Michael, what about the country of Georgia?
Have you seen these ua-cam.com/video/NL3kAja1MpU/v-deo.html ua-cam.com/video/d0PZrn5obT8/v-deo.html
Hey mate, can you talk more in-depth about taxes in Portugal for a crypto day trader? As it’s often cited as there 0 tax on crypto for Portugal and hence a lot of crypto specialists have been moving there. How does that work?
Have you seen this video ua-cam.com/video/OvjNZNwCpCU/v-deo.html ?
@@OffshoreCitizen hey Mike, just watched that video. It seems there is a commentor who indicated he had more information to share around taxation and reached out to you and possibly there might be a follow up video?
I’m also curious in regards to a comment you’ve made in another video regarding lower tax rates in Bulgaria as compared to Portugal for crypto day traders?
Does Montenegro tax all income at 9% or are there ways around this if you have an overseas business? Are there ways to reduce the social security contribution requirement, again as a business owner? Many thanks
Worldwide income taxed at 9%
@@OffshoreCitizen Thanks for your reply. 9% is still fairly attractive, but with overseas companies without double tax treaties I think the tax adds up. Again, paying SS on top of this (employee and employer side) is a rough deal.
@@OffshoreCitizen I also saw that there is a municipal tax of 13% on employment income. If this is the case, it makes total tax rate quite high.
If I open a bank acc in portugal and I live in England and I have my coinbase linked to the portuguese bank acc, can I trade and not be required to pay the British CGP ? Can you help me to understand if there any way to live in England but use a portuguese bank acc to avoid british CGT on crypto ? Or does one simply have to move full time to portugal
If u want the benefits of taxes of one particular country u need to move there for 6 months.
But for the uk u need to not return there for 5 years i think otherwise u get taxed
Portugal and Montenegro two incredibly beautiful countries but what a weird term of comparison, one uses the euro, is in the EU and Schengen, the other not. And indeed Portugal is pretty much stronger economically.
Which one would you choose? :D
Montenegro is up and coming very fast. European Union on the verge of collapsing, taking Portugal down with it. Montenegro on the other hand, has just been discovered by the masses. I enquiried 3 ,houses last week within 300-800k budget, they all reserved and taken down within the first week. Montenegro has single digit tax rate, only 9%. They're the only country in Europe to produce x3more veg and fruits than their needs and exporting 65% it. It's way cheaper than Portugal still but not for very long with the developments going on there..
I have lived in 7 countries and travelled to 50, and I lived in Portugal (Lisbon) for 1 year before leaving. Portugal is over rated, more expensive than you realise, a huge lack of attractive women, the sea is freezing (basically unswimable), and the people although friendly can be very melancholic. Just look at the difference between Fado Music (Portugal), and Flamenco (Spain), this gives you an idea of the essence of those countries. I will visit Bulgaria and Montenegro ASAP.
I totally agree with you!!!
Montenegro🇲🇪🇲🇪🇲🇪🇲🇪🇲🇪🇲🇪
So, in conclusion, Montenegro nice place to visit but you wouldn't want to run a business from there but nice for a quiet retirement. Reminds of rural Greece perhaps?
Exactly. It's unfortunately not business friendly environment, at least not yet and many things you take for granted in another country can be quite challenging to manage in Montenegro.
Business infrastructure still has a long way to go, we'll see how quickly they catch up.
If someone wants a quiet and peaceful retirement Montenegro can be an amazing place! Organic food, clean water, lovely seaside and mountains. Still more peaceful than Greece in many ways.
@@OffshoreCitizen Perhaps worth a visit for us on our perpetual journey? I do like the Balkans and the people in particular... the ones I've engaged with have a certain F'k U attitude which is certainly refreshing - no beating around the bush! Also, my wife has seen photos of Lake Ohrid in North Macedonia - so, I'm guessing that'll be a destination too.
You can run any online business in Montenegro. Portugal is already hyped up a lot
Portugal is great for crypto isn't it? They don't recognise it so can trade freely???
ua-cam.com/video/OvjNZNwCpCU/v-deo.html
Oh, even better! If I could feasibly live in so many places, I'd probably go with Switzerland, Portugal, Montenegro & Georgia (+one secret African country). I am actually considering owning functional property in all of them. Additional visits to Spain & USA (home country).
I was trying to find the General aviation laws in Montenegro.. should be better than Portugal.. my goal involves a private plane
The fact that Montenegro is still a developing country and many things are lacking, there is more opportunities to set up businesses. So many opportunities. So many. It's tourism is amazig or yachts. They got 0% tax for yachts which makes it an attractive destination for ultra rich
Can you speak SLOW please, we cant get your pronunciation .......
If you need you can always slow down th3 video in the UA-cam settings
@@OffshoreCitizen Thanks for your Videos, all the effort you doing for others ...