Cryptocurrency in Spain and Portugal: Exchange for Relocators

The Iberian Peninsula as a Relocation Destination

Spain and Portugal welcome thousands of relocants from Russia, Ukraine, and other CIS countries annually. Both countries offer special tax regimes for new residents, and cryptocurrency has become one of the key tools for initial settlement: paying apartment deposits, transferring capital, and covering daily expenses.

Tax Regimes: What You Need to Know

Spain: Beckham Law (Ley Beckham)

The special tax residency regime allows foreign workers and freelancers to pay a flat 24% tax only on income earned in Spain for the first 6 years — foreign income is not taxed. Cryptocurrency acquired before the move and converted in Spain is formally considered a foreign asset, providing tax advantages. Important: a tax consultant is mandatory.

Portugal: NHR Regime (Non-Habitual Resident)

NHR was Portugal's flagship regime from 2009 to 2024. Replaced by IFICI in 2024, but cryptocurrency in Portugal is still not taxed for individuals who don't trade professionally. One-time sales of BTC and ETH in Portugal: 0% tax for individuals. This makes Portugal one of Europe's most attractive jurisdictions for crypto investors.

How to Pay for Housing with Crypto: A Real Scenario

Direct rent payments in crypto are practically impossible — landlords want euros. The working scheme:

1. Submit a request to Flash Exchange: USDT/BTC → EUR
2. Receive euros to a European bank account (Wise, Revolut, local bank)
3. Make a SEPA transfer to the landlord or pay the deposit

Example for Lisbon: apartment deposit — 2,400 EUR. At 1 USDT = 0.925 EUR, you need 2,595 USDT. Flash Exchange converts them in 20–40 minutes.

Best Banking Options for Crypto Operations

• Wise or Revolut: open online before the move, accept crypto conversions.
• N26 (Germany/EU): works across the eurozone, crypto-friendly.
• Local accounts: Sabadell in Spain; MillenniumBCP or Novobanco in Portugal.

Flash Exchange for Spain and Portugal

Flash Exchange accepts crypto-to-EUR conversion requests with SEPA payout. Average time: 20–45 minutes. Supported coins: BTC, ETH, USDT, LTC, XMR and others. No exchange registration, no lengthy KYC for smaller amounts.