Enjoy substantial tax benefits and no double taxation on pensions and income derived from abroad with Portugal’s NHR tax regime.
Non-Habitual Resident Tax Regime
Portugal’s Non-Habitual Resident (NHR) tax regime is fast earmarking Portugal as the top tax haven for professionals in Europe and a retirement hotspot. The Regime focusses on 2 types of people, retirees that are receiving pensions from overseas and skilled professionals (either employed or self-employed).
Under the regime, professions considered to be of high cultural and economic worth, are given considerable tax exemptions, while retirees can enjoy no double taxation on pensions and income derived from abroad.
NHR Can Benefit Skilled Professionals
Professions considered high cultural and economic worth are given generous tax exemptions under the regime as an incentive to attract the top talent to Portugal. For the purposes of the NHR regime, skilled professionals may include:
• Engineers, architects, designers, and related fields
• Actors, musicians, and artists
• Directors, investors, and senior managers
• Doctors, surgeons, dentists, and psychiatrists
• Teachers, university lecturers, and science experts
Tax Haven in Europe
As an NHR you can receive substantial tax benefits for 10 years, such as:
• A tax exemption on almost all foreign sources of income.
• Fixed 20% taxation for a period of 10 consecutive years for Portuguese sources of income derived from eligible skilled professions.
• Tax exemption for gifts or inheritance to direct family members.
• No wealth tax.
How To Qualify To Be A NHR
To qualify for the regime, you must register as an NHR and meet the following requirements:
• Must have the right to reside in Portugal either as a golden visa permit holder or an EU citizen.
• Must not have been a Portuguese tax resident in the preceding five years; and
• Have a home in Portugal or spend 183 days a year or more (consecutive and non-consecutive) in Portugal.
To learn more about the NHR regime and receive advice tailored to your specific circumstances, please inquire using the form below.
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