Post
Topic
Board Legal
Re: Buying property with crypto
by
zasad@
on 10/05/2023, 20:14:33 UTC
Unfortunately, it's illegal to buy property in the EU with BTC. To those who are not familiar with this business, it's also illegal to pay in a foreign currency like the US dollar, or to pay cash save in one country.  Even if the buyer accepts BTC, the transaction must be in the currency which is legal tender in the country, and the price shall be written in the contract. Sorry, but there's no choice.

Some tax and legal rules are not the same in the European Union and it is absolutely not illegal in France to pay in bitcoins. Nevertheless, you have to prove the origin of the funds and pay taxes and notary fees in Fiat.

In France, there is what is called the dation in payment: originally an heir could pay his debts by transferring works of art for example, in the same way a real estate developer can "exchange" a piece of land or a real estate for an apartment (for example a person sells his house on a piece of land on which the developer will build a building, the developer then offers in addition to transfer an apartment in the said building).

More infos : https://www.nexity.fr/terrains/guide-terrain/conseils-vente/dation-en-paiement-definition

One day the majority of countries will accept bitcoins in the same way as they accept a work of art to pay a tax debt, it is only a matter of time. In some countries you can already pay your taxes with bitcoin.



And how do people in France solve problems if they cannot confirm the legality of buying cryptocurrency?
I heard that in countries like France, Germany there are very strict taxation and control over real estate purchases.
I think that there is less and less time left for the cryptocurrency to remain out of control.