Top Five Countries to Buy Real Estate with Crypto

Salomon Kisters
Salomon Kisters
Feb 16, 2023
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Bitcoin’s popularity has grown significantly recently, but controversy also surrounds it.

The number of merchants accepting digital currency is increasing despite this. Certain states in the US, including California and Florida, have legalized digital money. While some European countries are leading the way regarding bitcoin-buying property deals, bigger transactions are legal in others.

This article will delve into the top five countries that provide great prospects for investing in real estate using cryptocurrency, also catering to those interested in specific rental properties like apartments for rent in Clarksville, TN.

1. Turkey

In Turkey, people invest in crypto for a variety of reasons. There has been a free fall in the Turkish Lira. Istanbul’s real estate has become incredibly valuable as a result. In a city with more than 15 million people, where else can you purchase near-prime real estate for $1,000-$2,000 per square foot?

It’s a fantastic experience, and Istanbul is fun, exciting, cosmopolitan, and never boring. The city is truly one of the best in the world. With real estate, it’s possible to obtain Turkish citizenship after spending $250,000 (article here), but crypto is harder. Owning an apartment or house in Turkey entitles you to residency.

What is the process?

You can contact an online real estate buyer’s agent, who will show you how to exchange your crypto for 3.5%. Once you have the money, you can buy a home in Istanbul. You can then find a property in former Constantinople.

2. Switzerland

Switzerland has a reputation for high standards, high levels of privacy, and low levels of risk in banking and finance. Therefore, it is understandable that bitcoin has fewer regulations than other cryptocurrencies.

Cantons are unique regional divisions that play a role in determining what’s allowed and what’s not. Depending on how cryptocurrency is viewed and whether it’s taxed, each canton in Switzerland has its legal definition.

Tax-free capital gains are available in Zurich, which may be interpreted to mean bitcoin is also tax-free, but mining incomes are taxed. Bitcoin trading, however, is considered regular income in Bern, where the ruling is stricter.

Switzerland is a bitcoin-friendly country on a cantonal level, making it an excellent place for investors. Swiss property prices are stabilizing after several years of cooling measures imposed by the government, so now is a good time to invest.

3. UAE (United Arab Emirates)

As an emerging crypto hub, the UAE attracts many international crypto organizations to take advantage of the country’s burgeoning status. Considering all other factors remaining the same, the country’s cryptocurrency market is expected to grow tenfold in the next two years.

Over the past few eras, the country has become one of the top real estate powerhouses in the Middle East and North Africa. As a result of government-led efforts to boost interest in the local real estate market, some of the nation’s radical structures have emerged.

A convergence between the crypto and real estate sectors has led to the establishment of a collaboration between the two industries to develop their non-oil economy and open up the real estate sector to global investors.

The UAE allows crypto users to purchase houses, villas, apartments, and buildings with digital currencies.

There are some regulatory constraints, such as banks’ inability to provide crypto services, since the central bank still needs to designate cryptocurrencies as legal tender. Some regulated real estate agencies, however, allow crypto transactions between individuals.

4. Portugal

Portugal’s tax authorities have taken a softer approach towards cryptocurrency investments, and crypto investors are expected to be well-treated by the law here. Gains from cryptocurrency exchanges and gains from cryptocurrency exchanges are tax-free for individuals.

Regarding bitcoin purchases, investors should consider Portugal’s tax authorities, which have previously stated that cryptocurrency exchanges constitute on-demand, VAT-free transactions. Note, however, that companies aren’t treated as leniently.

For crypto investors looking outside of the UK for their property investment decisions, Portugal offers several programs that make setting up a base easy.

5. Georgia

Georgia has many laws to encourage foreign investment and a lot to offer investors. Investing in the country, for example, does not subject investors to capital gains taxes. Currency transactions are also not limited.

There is no regulation of Georgia’s cryptocurrencies, so the final purchase figures must be entered in fiat currency, even though the real estate can be purchased using them. Buying property with cryptocurrency is possible through licensed real estate agencies.

Conclusion

Although there are some challenges related to crypto adoption, we can only expect more significant transactions as society’s acceptance of cryptocurrency grows. Crypto is changing the landscape of the global property market forever because of the increased security, speed, and ease of bitcoin property deals.

Along with others worldwide, many European countries are leading the way in adopting virtual currencies, whether by providing tax benefits for digital currencies, making it easier for investors to use their money, or accepting bitcoin for property purchases.

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Please note that the Content may have been generated with the Help of AI. The editorial content of OriginStamp AG does not constitute a recommendation for investment or purchase advice. In principle, an investment can also lead to a total loss. Therefore, please seek advice before making an investment decision.

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