According to the Portugal News, investors that consider real estate purchase in Portugal with crypto can expect some changes in regulation this week. The appetite for buying real estate with cryptocurrencies has increased, above all by foreign investors. This is because investors abroad see the country as a “tax haven” for crypto-businesses. But the rules will start tightening as early as this week.
The Order of Notaries (ON) is preparing regulation that will give clear instructions to notaries. It is about how to make deeds for the purchase and sale of houses in cryptocurrencies. And they will be alert to possible suspicions of money laundering.
New regulation for buying property with crypto in Portugal
Buying houses in cryptocurrencies is not a new topic. So far, ON has not registered purely digital businesses. This is because when buying a house with cryptocurrencies, first the conversion into euros takes place and only then the parties sign the deed.
With the new regulation being finalized by ON, it will become possible to carry out real estate transactions with virtual currencies, treating this as a barter business, that is, where goods are exchanged for cryptocurrencies. And it will be treated as a risky business for the purposes of preventing money laundering and other types of tax crimes.
How can XEROF help you buy real estate with crypto?
XEROF has its focus on Real Estate and cryptocurrency. It means all financial and legal procedures will happen based on your contract of purchase. No need to exchange cryptocurrency before the deal. Furthermore, you should create an account on xerof.com, verify your account, and send cryptocurrency to the XEROF digital wallet. We accept bitcoin, ethereum, and tether.
The company exchange your digital assets for Euros, US Dollars, or Swiss Francs. And your seller will receive fiat directly into his bank account. Read more about how it works here.
Why is it possible with XEROF?
XEROF is a Swiss-regulated crypto exchange. It facilitates OTC (over-the-counter) Crypto Trading Exchange for high-net clients (private customers or businesses) through negotiated transactions. The main problem with exchanging crypto to fiat is that many banks cancel transactions. This is because cryptocurrencies have a lot of difficulties with tracing the source and KYC procedure.
XEROF has a huge experience in the real estate sector and cryptocurrency transactions. Furthermore, thanks to wallet technology MPC-CMP with hardware isolation, the company provides multi-layer security that ensures the safety of your digital assets.
Contact us to find out more about your possibilities with XEROF and buy luxury real estate in Portugal with crypto safety and easy.
Article Source: The Portugal News
Image Source: Envato
XEROF is a Swiss-licensed Crypto Gateway that offers exchange services for customers who possess crypto wallets and want to use them as fiat currency to purchase real estate properties and luxury goods.Learn more about XEROF