How Bitcoin can enable EU citizenship: legal loopholes and golden visas
There is a wave of Bitcoin-rich investors converting their digital wealth into second passports and residencies and, motivated by high taxes or restrictive regimes at home, they are using their crypto gains to fund “golden visas” and legal migration pathways. Michael Saylor, CEO of Strategy the largest corporate owner of Bitcoin which owns 3% of Bitcoin, calls Bitcoin the “apex property of the human race” describing it as global and mobile capital rather than a national currency. From Portugal to St Kitts, countries have offered indirect routes for the crypto affluent, but always in fiat. However, now Bitcoin is funding legal access to EU residency and in doing so, reshaping mobility. No official investment migration programme accepts crypto as direct payment - all require fiat contributions with a documented source of wealth. Malta illustrates this well; applicants must convert crypto to euros and show detailed records and the government explicitly states contributions “must not be in the form of cryptocurrency.” So, whilst citizenship cannot be bought outright, investors can apply for residency and naturalise over time via substantial investment. Even when acknowledged, crypto is treated as proof of funds, not as the investment vehicle. The US EB‑5 programme illustrates this clearly: USCIS acknowledges cryptocurrency as a potential lawful source of funds, but mandates that the investment itself be made in US dollars and fully documented. Hence, Bitcoin can fund your golden visa, but only after conversion to fiat and extensive vetting. Meanwhile, Europe has long attracted crypto millionaires seeking “golden visas”: residency (and eventual citizenship) in exchange for investment, although EU programmes generally insist on fiat contributions and rigorous documentation. Here are five key examples:
· Malta - once branding itself as a “Blockchain Island”, Malta never accepted crypto as payment in its now-suspended citizenship scheme. Contributions of €600,000-€750,000 had to be in fiat, with crypto funds only usable after conversion and full documentation. The programme was declared illegal by the EU Court of Justice in April 2025 and is no longer operational.
· Portugal - in 2022, Portugal briefly embraced crypto-linked residency via the Bitcoin Golden Visa Fund, allowing indirect investment in Golden Visa-eligible assets. However, its tax-free policy on long-term crypto gains ended in 2023, replaced by a 28% tax on short-term gains. The Golden Visa has since refocused on fund and cultural investment options, not real estate. It is possible to give $250,000 of Bitcoin and, after seven years, qualify for an EU passport via Portugal. Alternatively, you can invest $500,000 into a fund that holds Bitcoin which you can encash at the end of seven years and also receive a Portuguese passport.
· Greece - Greece offers EU residency through a €250,000 property investment and, whilst crypto is not accepted directly, it can be liquidated and documented to fund the investment. The Golden Visa is renewable every five years and offers a citizenship path after seven.
· Spain -Spain’s Golden Visa ended in 2024 due to housing affordability concerns. Whilst it never accepted crypto directly, it permitted investments funded by crypto-converted euros. Spain now prioritises digital nomad visas, offering remote workers from non‑EU countries residency rights.
· Austria - the Austrian Ministry of Finance grants citizenship only by exception for extraordinary services or contributions, often involving investments of €3-10 million. Crypto is not accepted directly in these cases and must be converted to fiat and thoroughly documented. Austria treats most crypto gains as capital income, taxed at a standard 27.5%.
The table below compares key investment migration programs, including the above EU examples, their required investments, crypto acceptance and tax implications.
Residency by investment and crypto compatibility
*United States EB-5: crypto in through the side door
Crypto wealth can fund the ~US $800K EB‑5 investment, provided it is first converted to US dollars and thoroughly documented. Whilst direct crypto payments are not accepted, USCIS permits capital derived from crypto if its origin is lawful, traceable and clearly sourced.
*Caribbean citizenship: St. Kitts and Antigua go crypto
Several Caribbean nations now accept crypto as part of applicants’ wealth verification, though final contributions must be made in fiat. In Antigua, crypto-origin funds incur a 5% processing fee and trigger enhanced due diligence. With no income or capital gains tax, both St. Kitts and Antigua appeal to crypto investors seeking fast-track citizenship.
In 2020, Estonia became the first country to issue digital nomad visas - now there are 73 countries. These typically allow 6-12 month stays for workers to pursue flexible, low-tax lifestyles. For example, a trader, website builder or copyrighter might spend a year in Portugal under a D7 visa, then move to Thailand or the UAE. An estimated 40-80 million people now live nomadic, remote-working lives with popular destinations including the US, Spain, Thailand and Portugal. These visas complement investment schemes by offering immediate, low-cost mobility.
The illustrations show growth in official digital nomad visa programmes (2018–2024) and nationality breakdown of digital nomads. Global Citizen Solutions, Global Digital Nomad Report, 2024.
Unsurprisingly, tax drives crypto mobility and governments are tightening rules - the EU is enforcing compliance via MiCA and DAC8. Portugal ended its tax-free status and India imposed a 30% tax. Crypto-rich investors now seek friendlier jurisdictions and popular tax havens include:
· UAE, Bahamas, St Kitts, Antigua - no income or capital gains tax
· Switzerland - no CGT for private investors
· Germany - no tax on crypto held over a year
· Singapore, Hong Kong - no tax on capital gains
· Belgium - formerly CGT-free but introducing a 10% tax from 2026.
Crypto investors are establishing residency in these places to reduce tax legally - a Canadian may relocate to Zug, Switzerland, or a South African to Dubai. Often, residency suffices with no citizenship being required, but, of course, there are caveats: US citizens are taxed globally unless they renounce and some no-tax countries have high living costs or strict residency criteria. However, irrespective of this, the ability to take your Bitcoin and legally pay no tax remains a powerful incentive. Bitcoin will not buy you a passport outright, but it can open the door. By converting crypto to fiat, proving the source of funds and meeting strict programme criteria, applicants can turn digital wealth into real-world mobility. But these routes may not remain open for long - as governments race to regulate crypto and tighten borders, today's legal pathways could disappear tomorrow. For now, Bitcoin gives the affluent the means to choose their flag, navigating a world where financial freedom becomes geographic freedom and countries quietly compete for this fast-moving capital-rich elite.