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