Looking to move to Portugal in 2020 due to its relaxed, sun-drenched lifestyle? For affluent South Africans seeking to settle in Portugal, the Non Habitual Resident Tax Regime offers a range of benefits. Find out more about the benefits of the NHR as they stand in March 2020, or contact us to discuss your retirement in Portugal today.
What are the key benefits of the NHR tax regime?GoldenVisasAdmin2020-03-19T09:22:50+00:00
As of March 2020, Non Habitual Residents in Portugal enjoy the following benefits:
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Pay no wealth taxes
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Enjoy tax exemption on gifts for family members
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Enjoy free remittance of funds to Portugal
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Enjoy a tax residency in an EU white listed jurisdiction
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Pay only 10% tax on foreign sourced income (launching soon, historically 0%)
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Pay a flat tax of only 20% on a range of Portuguese income types.
Contact us for more information.
List of countries with double taxation treaties with Portugal 2020GoldenVisasAdmin2020-03-19T09:20:23+00:00
As of March 2020, the following list of countries enjoy double taxation treaties with Portugal:
Algeria, Austria, Andorra, Bahrain, Barbados, Belgium, Brazil, Bulgaria, Canada, Cape Verde, Chile, China, Colombia, Croatia, Cuba, Cyprus, Czech Republic, Denmark, East-Timor, Estonia, Ethiopia, Finland, France, Germany Georgia, Greece, Guinea-Bissau, Hong Kong, Hungary, Iceland, India, Indonesia, Ireland, Israel, Italy, Ivory Coast, Japan, Kuwait, Latvia, Lithuania, Luxembourg, Malta, Mexico, Moldova, Montenegro, Morocco, Mozambique, Netherlands, Norway, Oman, Pakistan, Panama, Peru, Poland, Qatar, Romania, Russia, São Tomé and Principe, Sweden, Switzerland, Senegal, Singapore, Slovakia, Slovenia, South Africa, South Korea, Spain, Tunisia, Turkey, the USA, the UK, Ukraine, Uruguay, Venezuela and Vietnam.
What is the process for applying for NHR status in Portugal in 2020?GoldenVisasAdmin2020-03-19T09:18:48+00:00
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Step 1: Firstly, you will need to register as a Portuguese resident and gain a Portuguese tax number via the relevant tax office.
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Step 2: Complete this online form to register for the use of the Portuguese tax authority’s website.
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Step 3: Your password will be delivered via mail, after which you can register yourself as a Non Habitual Resident via this website. Your application’s progress can be followed on the site.
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Step 4: Download your confirmation document, once approved, and store it in a safe place.
You can also opt to seek the help of a professional service provider to assist you in the above application.
Who can apply for the NHR program?GoldenVisasAdmin2020-03-19T09:14:48+00:00
People of any nationality can apply for NHR. Investors, retired individuals, freelancers, digital nomads, business owners and a range of professional workers are eligible to apply to obtain NHR status in Portugal. The professions deemed to be “high value” under the NHR include, but are not limited to university lecturers in the STEM fields, surgeons, dentists, biologists, medical doctors, auditors, designers, architects psychologists, psychiatrists, engineers, computer programmers (coders), as well as certain types of software consultants, to name but a few of the key professions.
What are the key requirements to qualify for the NHR in 2020?GoldenVisasAdmin2020-03-19T09:11:35+00:00
As of March 2020, the following criteria must be met to apply for the Portugal NHR: In order to be eligible to apply for Non Habitual Tax Residency in Portugal, you must have, or obtain, the right to reside in Portugal. You are also not allowed to have been a Portuguese resident in the 5 year period prior to applying. You are also required to have a residence in Portugal (either rented for a minimum prescribed monthly amount, or purchased, as would be the case with the Portugal Golden Visa Program). In addition, you’ll be expected to spend a minimum of 183 days per year in Portugal.
What is the Portugal NHR Program?GoldenVisasAdmin2020-03-19T09:08:34+00:00
The NHR is Portugal’s Non Habitual Residency, an attractive tax regime intended to encourage investors, high net worth individuals and professionals who can make a significant cultural or economic contribution to the country.
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Introducing The Cork Tree Residences, a new luxury retirement estate situated in Comporta. Priced from only €480,000 for a 2-bedroom luxury villa, the development offers the ultimate in luxury, off the grid retirement living.
What is the Portugal NHR?
Introduced by the Portuguese government in 2009 and commonly referred to as the Portuguese NHR program, the tax regime offers high net worth foreigners seeking residency in Portugal attractive taxation for the first 10 years of living in Portugal. In the main, these take the form of tax exemptions and reduced tax rates.
Portugal is one of the world’s most sought after travel and retirement destinations, and the NHR regime has proved massively popular. By as early as 2016, there were already over 10,000 Non Habitual Residents taking advantage of the tax regime.
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