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Portugal’s Non-Habitual Residence Tax Program

Portugal’s Non-Habitual Residence Tax Program

Portugal's Non-Habitual Residence Tax Program

Many countries in Europe have special tax regimes that new residents can take advantage of, and one of those is Portugal’s Non-Habitual Residency Tax Program (NHR).

What is Portugal’s Non-Habitual Residence Tax Program?

Portugal’s Non-Habitual Residence Tax Program is a tax incentive program designed to attract foreign professionals and retirees to Portugal. The program offers a flat tax rate of 20% on foreign-sourced income for a period of 10 years. The program also offers tax exemptions on certain types of income, such as pension income, and a reduced tax rate on certain types of income, such as capital gains.

Who can apply to the Portuguese Non-Habitual Residence Tax Program?

The Portuguese Non-Habitual Residence Tax Program is open to all foreign nationals who have not been a tax resident in Portugal in the last five years. Applicants must also be able to prove that they have sufficient financial resources to support themselves in Portugal.

Can Golden Visa Holders and High Qualified Activity Visa Holders apply to Portugal’s Non-Habitual Residence Tax Program?

Yes, Golden Visa Holders and High Qualified Activity Visa Holders can apply to Portugal’s Non-Habitual Residence Tax Program. However, they must meet the same requirements as all other applicants.

What are the benefits of the Portuguese Non-Habitual Residence Tax Program?

The Portuguese Non-Habitual Residence Tax Program offers a flat tax rate of 20% on foreign-sourced income for a period of 10 years. The program also offers tax exemptions on certain types of income, such as pension income, and a reduced tax rate on certain types of income, such as capital gains.

What is the process for applying to Portugal’s Non-Habitual Residence Tax Program?

The process for applying to Portugal’s Non-Habitual Residence Tax Program involves submitting an application to the Portuguese Tax Authority. Applicants must provide proof of identity, proof of financial resources, and proof of residence in Portugal. Once the application is approved, applicants will receive a certificate of non-habitual residence.

Can a person apply to Portugal’s Non-Habitual Residence Tax Program before gaining a residence permit?

Yes, a person can apply to Portugal’s Non-Habitual Residence Tax Program before gaining a residence permit. However, they must provide proof of applying for residence in Portugal in order to be approved.

How can I learn more about Portugal’s Non-Habitual Residence Tax Program?

The best way to learn more is by contacting the team at Moveanywhere to book a comprehensive consultation that will cover all the basics.

Moveanywhere’s team will analyze your case in terms of your current tax burden, income streams, asset portfolio, potential tax requirements, family composition and possible tax benefits, and what the best solution is for you. All you need to do is contact us today.