Non-habitual Resident Status
Are you and your family approaching that stage in life where you are considering retirement or simply have earned the freedom to make lifestyle choices regarding your future residency?
The ideal solution is to be able to combine the lifestyle you have always aspired to, in terms of climate, culture, social activities and leisure with all the ultimate financial benefits of a superior, well-structured residency solution. If you are fortunate enough to qualify for it, this exclusive package can revolutionise your life.
Portugal has a multitude of offerings, a stable political and social environment, a labour force that can communicate in English and a high quality of life. This, combined with its membership in the European Union makes it a comfortable and favourable area for investment.
Portugal offers competitive tax and investment opportunities for individuals who seek to enhance their tax efficiency. The non-habitual resident regime is a competitive and favourable tax regime that is available to non-resident individuals that have not lived in Portugal for the last five years and that intend to establish themselves in Portugal.
This regime, valid for a ten year period, aims to attract highly skilled professionals, high net worth individuals/investors or retirees from any nationality, who may benefit from a favourable taxation of foreign income, with tax exemptions in Portugal and a possible double exemption both in Portugal and in the country where the income is obtained, if a Double Taxation Agreement is in place.
In order to qualify for this regime the applicant has to fulfil the following requirements:
- Not have been taxed as a Portuguese resident in the five years prior to taking up residence in Portugal;
- Become a tax resident under the Portuguese law;
- Register as a non-habitual resident in Portugal.
Kindly note that the non-habitual resident regime does not require the individual to acquire real estate property as the residency may be established by living in an owned property or by living in rented accommodation.
Abacus are here to help you determine whether this is the right residency solution for you and to guide you through the process. Through our extended office in the Algarve, managed by our own Portuguese and English speaking manager Anne, we offer you the benefit of a well-established local presence and strong professional partners in Portugal. We provide a set of services that aim to make this procedure as simple and fast as possible for you, such as:
- The analysis of possible tax benefits that may result from the change of residence to Portugal;
- Preparation and submission of the formal request of the non-habitual residence tax regime before the Portuguese Tax Authorities;
- Legal assistance within the scope of real estate purchase or the execution of the Rental Agreement;
- Administrative Pack (opening of utilities contracts, e.g. water electricity, telecommunication);
- Legal assistance for the legalisation of a vehicle.