Personal Finance
Non-Habitual Regime and Residency for Non-EU Citizens

The special Portuguese Non-Habitual Resident (NHR) regime is becoming an important program to attract high net worth individuals to live in Portugal, namely from Latin American countries. This is the perspective of Domingos Cruz, Partner from the Law Firm CCA Ontier that explains how non EU citizens can also benefit from the NHR regime. The Non Habitual Tax Resident (NHR) regime is becoming an important program to attract high net worth individuals to live in Portugal. The program has gained traction in several European and Latin American countries and its most praised quality is its flexibility. The program has a two folded approach, on one hand allows for tax exemptions on most passive income generated outside Portugal, and on the other has an attractive 20% flat rate on professional income generated in Portugal for value added activities. The combination of both ensure the NHR resident a significant tax benefit. The two sole requisites to enter the program are:

  1. Not having been tax resident in Portugal for the past 5 years.
  2. Having an address in Portugal.

For non EU citizens there is an extra requirement and concerns having a resident permit to live in Portugal. Currently the fastest way to obtain the resident permit is to have the commonly called Golden Visa. The most common way to obtain a Golden Visa is through the acquisition of a property of at least €500.000. The request is made directly to the tax authorities, by means of a simple declaration. The NHR regime lasts for 10 years from the date of the request, and it can be voluntarily suspended by the investor and later on resumed. This regime is praised by its flexibility, and has been responsible for a surge of consumption and real estate investments, that have created an interesting momentum for Portugal.

Domingos Cruz Partner CCA Ontier

Interested in applying for the Non-Habitual Residents Regime? Ask Kleya. 

 

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