Here is the list of the top 10 tax havens for cryptocurrencies.

First, he notes how Portugal, once considered Europe’s ultimate crypto tax haven for having zero taxation on cryptocurrencies, dropped off the list after a short-term 28% tax was announced. on the gains of investing in digital currencies. Additionally, the Portuguese government plans to levy a 4% tax on peer-to-peer cryptocurrency transfers.

So M6 Labs says thatas now that Portugal is no longer a tax haven, here are some alternatives for those looking for a country with little to no crypto tax:

1.- Switzerland

Private investors won’t have to pay tax on their cryptocurrency earnings, but businesses and sole traders will have to pay capital gains tax.

Certain conditions must be met:

  • You must hold crypto assets for at least 6 months.
  • The turnover must be less than “5 times your participation“.
  • The net capital gain must be less than 50% of his total income.

2.- Singapore

According to the M6Labs report, capital gains are not taxable in Singapore; therefore, capital gains realized when buying cryptocurrency for long-term investment purposes are not taxable.

On the other hand, you will pay taxes if you regularly transact in cryptocurrencies.

3.- United Arab Emirates

In Dubai, personal income tax is 0%, says the M6Labs group.

Specifically, there is no personal income tax if you are a tax resident in Dubai, regardless of the amount of your income. There is also no capital gains tax whether you are actively trading or simply holding crypto-assets.

4.- Slovenia

Slovenia has proposed a tax on cryptocurrency exchanges. It applies a flat rate of just under 5% for transactions in cryptocurrencies, as well as when selling or exchanging them.

5.- The Bahamas

Foreign citizens and residents do not pay personal income or capital gains tax The Bahamas also allows individuals to pay other taxes using cryptocurrencies instead of traditional fiat currency payment methods . In addition, this set of islands has its own central bank digital currency: the sand dollar.

6.- Malta

The research group says that Malta has a complicated tax system for cryptocurrencies. There is no capital gains tax on profits made from long-term held cryptocurrencies. However, cryptocurrency exchanges in Malta are subject to a trading income tax of 35%.

7.- Puerto Rico

Residents of Puerto Rico who buy and sell cryptocurrencies are not subject to capital gains tax. However, they must follow their home country’s tax laws for any cryptocurrencies purchased outside of Puerto Rico.

8.- Malaysia

Malaysia does not consider cryptocurrencies as fixed assets.

So the buying and selling of cryptocurrencies are essentially tax-free in the country, but they are only tax-free if they are not a regular form of income. Thus, traders who buy and sell crypto on a daily basis and live off it will have to pay taxes.

9.-El Salvador

As has been said many times, El Salvador was the first nation to accept the bitcoin as legal tender, so they pushed a series of measures to make this country an ideal country for crypto investors and traders. The president himself, Nayib Bukele, has promised to grant citizenship to foreigners who declare that they will engage in this activity.

Foreigners are not required to pay taxes on the income they derive from their cryptocurrency profits.


Taiwan does not tax capital gains, says M6Labs. Cryptocurrency transactions are treated as income from real estate transactions and must be reported as individual income for tax purposes.

However, this list is not definitive or set in stone. M6Labs recognizes that this list needs to be refreshed frequently because, being a relatively new technology, countries frequently change their tax policy on cryptocurrencies.

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Here is the list of the top 10 tax havens for cryptocurrencies.

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