Country overview

#135
Timor Leste

Country stats

Rating Points
40
This indicator describes the overall rating of a given jurisdiction on several parameters according to cryptocurrency operations - market volume, crypto regulation, business climate, taxation framework.
Crypto Penetration
1%
Estimated percentage of crypto users out of the country's total population based on public data.
Legal Entities
0
Number of crypto companies registered in the country based on regulator data if available or other types of public data.
Regulation Points
0
An overall assessment of the granularity of crypto regulation in a given country. A high score is also given to countries where cryptocurrency transactions are highly regulated.
Amount of crypto users
140 000
Total amount of crypto users out of the country's total population based on public data.
Taxation points
25
This figure, according to our analysts' calculations, indicates the overall level of tax burden for cryptocurrency transactions in a given country. The higher the indicator, the lower the burden.
Market volume points
0
A rough estimate of this jurisdiction's retail crypto market relative to the rest of the world. The higher the indicator, the higher the market potential.
Status of crypto
No info
General status of cryptocurrency regulation in this jurisdiction.
Crypto payments
No regulation
The legal status of cryptocurrency payments for goods and services in a given country based on information from regulators, public data and feedback from our community.
Security Level
Considerable danger
The overall level of security in a given country based on open data.
Crypto Salaries
No regulation
The legal status of cryptocurrency salaries to employers in a given country based on information from regulators, public data and feedback from our community.
Business Climate
No info
Overall assessment of the friendliness of this country for crypto-business. This indicator takes into account the cost of obtaining a license and the attitude towards crypto entities in the country.
Stablecoin Regulation
No info
This indicator is evaluating the regulation of stablecoins in a given country. Complex regulation means that it is possible to issue steiblcoins and obtain a license for this activity. Basic regulation means that the issuance of stablecoins is possible, but not all legal aspects are defined in the law. Standard regulation means that there is a legal practice of steylcoin circulation in a given country.
Bad Factors
No
This section describes the unfavorable economic factors for crypto-business in a given country. These are countries that are under sanctions or on the FATF grey list and other factors.
Types of licenses
No licenses exist
Good
Medium
Bad
intro

This is general info about crypto regulation in Timor Leste (East Timor). A more precise overview will be published later. However, if you find any inaccuracy or have other feedback - please write us in telegram @ilya_ii or by e-mail - editor@cryptopenetration.com

East Timor is a country in Southeast Asia. The country's area is 15,000 km2 and its population is 1,400,000 people based on Wikipedia (1).

According to Visa Guide (2), nearly everyone who intends to visit Timor-Leste must get a visa, except citizens of the Schengen Zone, Indonesia, and Cape Verde.

Foreigners are unable to apply for and be granted a Resident Permit unless they have first been granted the Visa to Establish Residence, or are granted family reunification as the immediate family of a person granted a Resident permit. Foreigners who have been granted that visa may then apply to the Immigration Service in Dili for a Residence Permit based on the Immigration Service of Timor-Leste (3).

East Timorese nationality is typically obtained either on the principle of jus soli, i.e. by birth in East Timor; or under the rules of jus sanguinis, i.e. by birth abroad to at least one parent with East Timorese nationality under Wikipedia(4). 

To obtain East Timorese citizenship, you must be an adult in light of the law of Timor-Leste and the State of origin be a usual and regular resident of Timor-Leste for at least ten years before 7 December 1975 or after 20 May 2002; be able to speak one of the official languages; meet moral and civic standards for integration into the East Timorese society; be able to manage oneself and provide for his or her subsistence; To know the history and culture of Timor-Leste based on LAW No. 9 /2002 ON CITIZENSHIP (5).

Security level

According to our rating, Timor Leste has a considerable danger security level. The homicide level (6) is 4.1 per 100,000 inhabitants a year. 

Crypto Payments

The official currency of the Democratic Republic of Timor-Leste is the US dollar. We do not have data on cryptocurrency payments in Timor Leste. If you have this information, please contact us.

Crypto Salaries

The official currency of the Democratic Republic of Timor-Leste is the US dollar. We do not have data on salary payments in cryptocurrency in Timor Leste. If you have this information, please contact us.

Legal

According to CNBNews (7) there is no crypto regulation in the country.

Taxation

Headline CIT rate and PIT rate are 10%. Capital gains are subject to the normal CIT rate based on PWC (8).