Non Habitual Resident

Portugal has become a very attractive country to relocate to, benefiting from free remittance of funds, the absence of wealth tax, a beneficial treatment of gifts and inheritances, a favorable residency permit that allows for free movement within the Schengen zone and the added possibility to apply for Portuguese nationality.
The NHR regime, which is granted for a period of 10 consecutive years, is a beneficial Personal Income Tax (PIT) regime, offering tax exemption for almost all foreign sources of income, and is available to individuals becoming Portuguese tax residents.
To be considered tax resident in Portugal, an individual must fulfill one of the following criteria within a given year:

A) Remain in Portugal for a minimum of 183 days (not necessarily consecutive) per year
B) Maintain a property throughout the year, which is considered as a permanent residence

Portugal has signed 71 double tax treaties (64 of which are in force), more than 50 investment protection agreements, 15 tax information exchange agreements, most of which are already in force (e.g. Bermuda, Cayman and Gibraltar) and several social security agreements.
As a Non Habitual Resident in Portugal, investors and HNWI’s are able to increase their wealth within a favorable tax environment, benefit from tax exemptions when dispersing their assets, savour retirement without the draining taxes on pensions, and pass on their estates and wealth to their families without gift or inheritance taxes.

For further information regarding the NHR regime, please contact CLG to arrange a meeting with one of our consultants.