A recent survey conducted by Portugalist.com among prospective expats reveals that Portugal’s announcement that it will end its Non-Habitual Residency (NHR) tax regime could have a significant impact on their decision to move to Portugal. A significant 33% stated that without the NHR benefits, they probably wouldn’t move to Portugal. Another 32% mentioned that the … Read more
Prime Minister Antonio Costa has unveiled plans to discontinue the non-habitual resident (NHR) regime, a decade-long tax incentive aimed at attracting foreign residents. This move is the latest attempt to confront the escalating housing and cost of living crisis in Portugal. Beginning in 2024, the NHR scheme will no longer accept new beneficiaries, though existing … Read more
Do you need to open a Portuguese bank account quickly? That may be the case if you’re applying for a residency visa and have been told that you need to show a Portuguese bank account funded with at least 1 year’s living expenses (a common requirement). Unfortunately, for whatever reason, it isn’t easy to open … Read more
What’s the best bank in Portugal? That’s a difficult question to answer as one person’s opinion of “best” could vary from another’s depending on their experience. Also, as most people only bank with one or two banks, they aren’t able to give an objective, unbiased view of which bank is best – just which banks … Read more
Foreigners can open a Portuguese bank account, however, that doesn’t necessarily mean that opening a bank account is always easy. The issue isn’t whether you’re a foreigner or Portuguese, but whether you’re a resident in Portugal or somewhere else. If you’re already resident in Portugal, opening an account is fairly simple. If you aren’t yet … Read more
If you’re moving to Portugal, you’ll probably need to open a Portuguese bank account. And you’re probably wondering if there are any bank accounts that don’t charge monthly fees. Most banks in Portugal charge a maintenance fee. This is typically between €4 and €8, depending on the type of account. If you’re opening a bank … Read more
Portugal has long been a popular destination for digital nomads and with the introduction of Portugal’s digital nomad visa, it’s expected that the country’s popularity will continue to grow. Good weather, a large digital nomad community, and the ability to apply for Portuguese citizenship after just 5 years are some of the reasons why nomads … Read more
With its beautiful beaches, warm weather, and fantastic food, Portugal has long been a popular destination for British retirees. UK pensions have the power to go further in Portugal than in the UK, thanks to Portugal’s lower cost of living. But, if you’re relying on a pension to fund your retirement, it’s important to understand … Read more
Selling a property in Portugal can be hard, but perhaps the hardest part is the realisation that you may have to pay capital gains tax. This is especially likely if you come from a country where you don’t normally have to pay capital gains tax when selling your primary residence. For residents of Portugal, capital … Read more
Let’s say that you own a property in Portugal. One day Finanças (the tax office) wants to send you a letter, perhaps about some taxes that you owe. A fiscal representative is a person or company that acts as a liaison between a non-resident individual or company and Serviço de Finanças. The types of people … Read more
