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What is the NHR?
The NHR programme was introduced by the Portuguese government to attract foreign talent and investment. It offers favourable tax treatment for new residents over a 10-year period, making Portugal an attractive destination for expatriates, retirees, and professionals.
What are the key benefits to the NHR program?
- Reduced Tax Rates: Enjoy lower tax rates on certain types of income
- Pension Income: Foreign pension income may be taxed at a flat rate of 10%
- No Wealth Tax: Portugal does not impose a wealth tax on those with the NHR status
- Tax Exemptions: Some foreign income, such as dividends, interest, and royalties, may be exempt from tax
NHR 1.0
The original Non-Habitual Residency programme – often referred to as the NHR 1.0 – was a tax regime which offered expats and investors reduced tax rates and some exemptions, throughout Portugal.
As of 31 December 2023 the original NHR programme was closed down to all new applicants. Only those who were already beginning their move to Portugal throughout 2023 and meet the transitional criteria are still eligible to apply.
The original NHR has now closed for applications.
NHR 2.0
The new tax regime offers reduced tax rates and some exemptions, throughout Portugal, for individuals who have formed start ups or fall within the scientific research and innovation sectors.
For individuals who became a Portuguese tax resident after 1 January 2024 – and who haven’t previously been a tax resident of Portugal within the last 5-years – are able to apply for the new NHR programme; now known as the IFICI. You must also have not benefited from the previous NHR programme or other tax benefit regimes at any time.
Ready to take the next step?
If you’re considering the NHR programme and want to understand how it can benefit you, contact RHJ Accountants today. Our expert team is ready to guide you through the process and help you make the most of this fantastic opportunity.
Determining Eligibility
Our team will assess your unique situation to determine if you qualify for the NHR programme. We’ll review your income sources, residency status, and professional background to ensure you meet the criteria.
Application Process
From gathering necessary documents to submitting your application, we handle the entire process. Our experience with the NHR programme means we know exactly what’s required to maximise your chances of a successful application.
Ongoing Support
Once you’re accepted into the NHR programme, we offer continuous support to ensure you remain compliant with Portuguese tax laws. We provide annual tax return services, financial planning, and advice tailored to your needs.
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