Hi everyone,
I work in Belgium as a doctor of osteopathic medicine. This year I am going to get married to my fiancé, who is Brazilian. She has a job in Belgium as well. We both pay taxes here.
After our marriage here, I assume I can apply for Brazilian citizenship. In the longer term, it is our plan to buy real estate in Brazil so eventually money will have to move here. One of my future goals is to help gifted Brazilian students with student housing.
I assume I can open a bank account in Brazil. I don't know if this requires me to be a citizen. And if so, how long that will take.
Aside from my job, I am also an investor in crypto currencies. This is a relatively young investment asset, and tax laws are currently being developed worldwide. My country Belgium has the highest taxes on earth, and withdrawing crypto profit here comes down to a 65% tax. (50% income tax + 15% social taxes). Obviously this is a strategy of our banks to destroy their competitors in finance. Nobody can manage such taxes and this makes investment impossible.
In Brazil however, I read a recent article that says that Lula approved a 15% tax on crypto.
This seems more reasonable. But profits will move back and forth regularly, and I hope this will not be a 15% tax on every withdrawal. Because the same money will move in between the crypto exchange and the bank, as the crypto market is volatile. I wonder what is considered "profit" as all profit is to be reinvested when there is a new investment opportunity.
https://br.cointelegraph.com/news/feder … -will-work
The article says that these tax laws apply to Brazilians.
I can apply for Brazilian citizenship, for tax purposes I am currently a resident in Belgium.
If I withdraw crypto profits to my Brazilian account, will I be exposed to Brazilian taxation or not?
I can't imagine I would have to pay income tax for sending my Belgian savings (which have been taxed for 65% already) either.
Thanks