Belion Partners - Residency and Investment expert in Portugal

The Countdown Begins: Portugal's NHR Tax Regime Will Terminate

Oct 11, 2023

In an official announcement, it has been confirmed that the Portuguese NHR (Non-habitual Resident) tax regime will be terminated. The proposal for the Budget Law was presented in the Portuguese Parliament yesterday, indicating that new applications to the NHR tax regime will cease to exist on 31st December 2023, effectively marking the conclusion of the current year.

 

In light of these developments, it is recommended the following actions:


  • Individuals already residing in Portugal (non-EU citizens with a residence permit, Ukrainian nationals under temporary protection, and EU citizens) should apply for Portuguese tax resident status and the NHR tax regime before the end of this year.


  • Those planning to move to Portugal (EU citizens or non-EU citizens with a visa appointment at their local embassy) should reconsider their plans and ensure they can complete all necessary steps before the year's end. This proactive approach will help mitigate any uncertainty regarding eligibility for the NHR status.

 

Given the significance of this policy change, we strongly encourage all those who may be affected to take prompt action to secure their eligibility for NHR status.
 

If you have any further inquiries or require assistance regarding this matter, please do not hesitate to get in touch. We are here to offer our support and guidance.

Portugal Ranks 3rd in the Nomad Passport Index: A Prime Destination for Global Citizens

17 May, 2024
Portugal proudly holds the 3rd position in the Nomad Passport Index (NPI), a global ranking that evaluates passports based on their freedom to travel and live in different countries. This achievement emphasises Portugal's appeal in the era of digital nomadism, where technology enables a lifestyle of mobility and independence. Digital nomadism has surged in popularity as the 21st century brings advanced technology, allowing individuals to work remotely and avoid the confines of traditional office settings. This shift has created a need for passports that offer extensive travel freedom and minimal restrictions, making Portugal's high ranking particularly noteworthy. The Nomad Passport Index assesses 199 global passports on five key criteria: Visa-free travel, global perception, taxation of citizens, dual citizenship, and personal freedom. This comprehensive analysis provides a broader measure of a passport's value compared to the Hanley Passport Index , where Portugal also ranks highly at 5th place in 2023, based on visa-free access data from the International Air Transport Association. The top 10 strongest passports according to the Nomad Passport Index are as follows: Switzerland Ireland Portugal Luxembourg Finland United Arab Emirates Netherlands Norway Germany New Zealand European countries dominate this list, holding 8 out of the 10 spots, highlighting Europe's robust diplomatic relations and global connectivity. Portugal stands out as the only southern European country in the top 10, making its passport the strongest in the region. This ranking reflects Portugal's commitment to personal freedom and the high standards across the evaluated criteria. Beyond its powerful passport, Portugal has garnered international acclaim for its dynamic start-up ecosystem , one of the leading European countries in technological innovation and entrepreneurial spirit. These attributes make Portugal an exceptional place to live and invest, offering a fertile ground for both personal and professional growth. If you are considering residing or investing in Portugal, we are here to assist. Our company specialises in providing tailored services to guide you through every step of the process. Reach out to us for expert assistance and make the most of what Portugal has to offer.
This recognition underscores Cascais' ongoing dedication to environmental responsibility.

Cascais Recognised as a Top Green Destination with Platinum Status

15 May, 2024
Cascais, a coastal resort town in Portugal just a stone's throw from Lisbon, recently won an award for its investment in promoting sustainability.
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