MALTA. Crypto friendly countries for bitcoin - altcoin - defi traders and investors
Malta is considered a crypto-friendly tax jurisdiction and one of the most crypto-friendly countries in the world.
The so-called blockchain island recognizes bitcoin as a unit of account medium of exchange or a store of value.
Any long-term investment in bitcoin and cryptocurrencies in general is tax-free in other words.
Malta doesn't apply capital gains tax to long-held digital currencies like bitcoin.
Malta exempts also VAT.
ICO are also exempted from taxes.
However, any trading occurring in the short term like for day traders is taxed at 35 percent as if it were occurring in the stock market.
Crypto trades are therefore considered similar to day trading in stocks or shares and attract business income tax at the rate of 35 percent; this can be mitigated to between five percent and zero through structuring options available under the maltese system.
Multis fiscal guidelines published in 2018 also discriminate between bitcoin and so-called financial tokens equivalent to dividends interest or premiums.
The latter are treated as income and taxed at the applicable rate, in other terms malta broadly classifies these assets either as coins or as tokens.
Under the guidelines coins are cryptocurrencies designed to be used solely as a means of payment a medium of exchange or to function as a store of value.
Malta has implemented several crypto friendly virtual currency legislations and several companies like binance are established crypto firms in malta.
Moreover Malta will give you golden visa with permanent residency for buying residency bonds you could look or for a permanent residency in malta or even for citizenship if you have enough capital to invest in their citizenship by investment program.
Reas also
The global residence program of Malta
Disclaimer: Always speak directly to an attorney; blog posts are not a sufficient source of information to make decisions, may not be appropriate for your situation, may not be well researched, and may not be current at the time you read them, always speak directly with an attorney.
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