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Why You Should Consider Moving to Portugal Before End of 2023

I can give you over a hundred reasons to consider moving to Portugal, and by far one of them is TAXES, so if you are holding off for 2024, I want to share with you why you should seriously consider a move to Portugal by the end of 2023 With Prime Minister António Costa’s recent announcement to end the NHR (Non Habitual Resident) tax regime at the end of the year, there has never been a better time to move to Portugal and take advantage of a special tax regime before it is off the table, as anyone who advantageously does so will still be able to take advantage of it, as anyone who does so before the end of the year will receive that benefit for 10 years without any penalization. “A stable and friendly tax environment for individuals in the European Union!!!” So what is the special tax regime NHR (Non Habitual Resident)??? The special tax regime for Non-Habitual Residents aims to attract talent in “high value-added activities”, as well as Ultra and High Net Worth Individuals (UHNWIs) and their families to Portugal, providing a very attractive tax regime for individuals. Benefits of the special tax regime for Non-Habitual Residents (NHR) in Portugal: A special tax rate of 20% applicable to employment and self-employment income derived from a “high value-added activities”. A tax exemption (with progression) on foreign-source income (e.g. professional income, rental income, capital gains, interest, dividends, as well as other investment income), provided certain conditions are met. In most cases, capital gains on the sale of securities are taxable at a flat rate of 28%. A flat tax rate of 10% on pensions from a foreign source, as well as to other payments from pension funds and similar retirement schemes. An individual may benefit from this regime during a 10-year period starting from the year of his/her registration as tax resident in Portugal. “Portugal is part of the European Union, the Euro Zone and the Schengen area. With a stable political and social environment, a secure society, a highly skilled and English fluent labor force and an excellent quality of life, it is not a surprise that Portugal is becoming a top choice for highly qualified workers, entrepreneurs and ultra and high net worth individuals who wish to take up residence in the European Union” Feel free to call; text or e-mail. But the best way to connect with us is via a Zoom call. I’ll walk you through Portugal using Google Maps; show you the best Cities or communities and neighborhoods that match your ideal lifestyle and budget and go over the moving and buying process as well as Visa process to establish residency. I Look forward to speaking with you on a zoom call. Link to schedule call on Calendly

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