NHR Portugal – The Key Benefits of residency in Portugal under the NHR Scheme?

If you are one of the many Britons or foreign nationals looking to establish a home in a new jurisdiction outside of your home country you may well be tempted by what Portugal has to offer in terms of Portuguese residency under NHR.

Habitual Residency offers a number of key benefits including:

• Flat rate of 20% on Portuguese earned income from qualifying activities and exemption from almost all foreign sourced income.

• Tax exemptions on gifts and inheritance tax to spouse, children or family with non-related benefactors being either tax exempt or subject to a flat stamp duty tax rate of 10%.

• No wealth tax and free remittance of funds either to or from Portugal.

• Beneficial treatment for pensions and life contracts including unit linked investments which further reduces the effective tax burden.

The Non-Habitual Residence regime also allows for the accrual of wealth in a tax friendly environment save for blacklisted tax havens and to dispose of assets with tax exemptions as well as to transfer wealth to the next generation without being subject to either inheritance or gift tax.

Find our more about NHR here: https://www.fiduciarywealth.gi/what-we-do/our-services/non-habitual-resident-portugal

British Expats ought to be beware that UK Inheritance Tax is based on the concept of domicile rather than residency and British Expats in Portugal may never be able to remove their liability to this UK tax.

To speak to an expert about becoming non habitual resident Portugal or obtaining NHR Portugal please contact us on Tel: +44 207 998 0570 or e-mail enquiries@fwm.gi.