Just a quick reminder that if you’re planning to apply for NHR tax status, you’ll need to prove your intent before the December 2023 deadline. Don’t miss out on this opportunity to potentially save on your taxes!
Good news for those planning to move to Portugal! The Portuguese government has extended its popular Non-Habitual Residency (NHR) tax regime until the end of 2024, but only for those who have already started their application. The NHR tax regime offers beneficial tax rates for up to 10 years for successful applicants and was designed to attract wealthy investors to Portugal.
However, it had prompted fears of driving property prices out of the reach of locals.
The extension comes with caveats, and applicants must prove they had already started planning their journey to move to Portugal during 2023. We have created a free guide to provide clarity on what the new legislation means and what will be accepted as proof for those planning to make a life in Portugal.