Portugal... a crypto-friendly country prime for investment
Portugal, my country, a country where I've lived for 25 years, I love this country! Portuguese people are "a jack of all trades, and master of many", but we had an issue in the past which slowed down our growth...
We had a dictatorship until 1974, and it took some decades for us to bounce back from it. Before the dictatorship was thrown down we had almost no industry, we produced most of our own food, but almost no industry... so we jumped many economic revolutions ahead when the dictatorship was thrown down.
Portugal wasn't seen as a good country to live in, or even to develop your own business for many decades. We were able to barely get on the dotcom revolution but we were still trying to catch up to the other countries. But this is all changing...we finally caught on to rest of the world!
At the moment Portugal is probably one of the most Crypto friendly places in the world, right next to Malta, Puerto Rico, Singapura, etc... One of the best places to invest your time and crypto! Let me explain why:
Taxes
We have no income taxes on cryptos, that means any crypto business, node, enthusiast, etc... that comes to Portugal won't have any taxation when using their crypto, this means that we are one of the best countries for crypto startups to grow roots on and invest. And we probably won't have any taxes for many many more moons, if ever...
And this was something said by official entities: coinbeat article about it.
Language
English, the most used language in the business world comes easy to Portuguese people, we are taught English since 4th grade and come in contact with it very often considering we don't like to translate everything.
So, any crypto startup that comes to Portugal to invest in the country and to develop their business won't face any language barrier problems, most of us know English well enough to have a normal dialogue, some (like me), know English better than Portuguese.
Internet Speed
Internet speed is very important in the crypto world, between trading and mining your internet speed needs to be the best in order for you to get an edge over the other traders, miners, and startups.
Portugal has a really good internet speed if you stick to the right internet providers for your zone, and it isn't that expensive, at least that's what every foreigner and expat tells me, we have really good cables and really good internet providers.
We also don't tend to have issues with illegal downloads... Download away without using a VPN, no one will bother you.
Beaches and landscape prime for Real Estate
Everyone needs to chill down, even crypto enthusiasts, there is nothing better than ending the day with a good run on the beach or run in the forest, Portugal has it all.
Portuguese beaches are some of the best beaches in the world, especially if you stick to less known beaches that no one goes to, if you live in a place long enough you will get to know these less known beaches and won't ever be bothered by large crowds.
We also have all types of landscape, from north to south we have snowy mountains like Serra Da Estrela, green mountains full of gorgeous landscape like Serra do Geres, we have huge fields of farmland in Alentejo, we have it all...
All this beautiful, gorgeous, landscape is in need of Real estate investing, so, any real estate investors should look towards Portugal for the next booming real estate economy. Especially now that we got our own REITs (real estate investment trust)!
Green Energy
I've seen a lot of crypto startups trying to remove the intermediary between energy providers and consumers by using blockchain tech, these will, in the long run, incentivize green energy consumption... Well, Portugal is one of the best countries for green energy, we've already lived off of our own green energy production for days and we plan to expand the renewable energy field, we have the hydro plants needed to store all the European's surplus energy production and we have one of the sunniest countries in Europe.
Any crypto startup in the energy field should invest and develop in Portugal.
Young Population
Our teens and young adults are bright minds, we have people working in every field and tech around the world and our universities tend to pump out really good professionals. We had some issues in the past that forced some of the young population to go live and work in other countries, but most of the emigrants are eager to come back and work in Portugal. Trust me, we love the world, but there is nothing like coming back to our own little corner of the world...
Our teens and young adults are also very prone to accept and improve new tech, we like to try new things and we are very open-minded about almost everything.
And I won't even talk about the next generation in power, Millenials saw 2008 happening, it hit Portugal really bad, Millenials have a burning desire to make Portugal the best place it can be, we love our little place in the world, no matter where we are...
The older population is still very backward's thinking and sometimes delays the development and adoption of new tech and new ways, but with time even this will change.
Entrepreneurship
Most of our old generation wasn't very entrepreneur-friendly, but this is changing fast with the new generation, we are starting to see startups everywhere, tech everywhere, we are even developing our own tech hub city up north, and it probably won't be the only one.
And tech-entrepreneurs aren't the only ones popping up all over the place, all types and forms of entrepreneurs and investors are appearing all over the place!
All in all, Portugal is developing and trying to catch as much of this Crypto Revolution as it can. I'm biased of course, but I like to think that I know my country, I really believe Portugal is a place that any crypto startup or real estate investor should be looking into, to invest, to develop, to grow roots, to expand, I really can't see any negatives for any startup that wants to develop in Portugal, we don't have any crypto taxes, what else can a startup want?
And it seems I'm not the only one that thinks this way:
CZ - CEO of binance also agrees:
Images Free Source - 1, 2,3,4,5,6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16, 17, 18, 19, 20, 21, 22, 23, 24, 25, 26, 27 - Tradingview snapshots too.
Question of the day: Do you think Portugal will get many crypto startups because of this? Would you move over here because of this?
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