The Portuguese Tax System has a special regime for tax residents from other countries that allows for Entrepreneurs, Digital Nomads, Pensioners, High Performance Employees, Artists and all form of Exparts from all over the world, to establish themselves in Portugal and benefit from unlimited tax advantages, such as:
· Tax exemption from foreign source income, if certain requirements are met;
· Flat rate of 20% for Portuguese source employment/managerial income;
· No wealth tax;
· No inheritance tax;
· Tax exemption in donation between close family members;
· Access to a large network of tax treaties;
· Ability to benefit from tax exemptions and advantages derived
· Clear regulation and tax advantages for investments in Real Estate Investment Trusts;
· Tax exemption for gains obtained in cryptocurrency trading;
· Upright solutions for trust beneficiaries.
The NHR regime is granted for a 10-year period for residents abroad that change their effective residency to Portugal.
Therefore, to benefit from this regime, besides obtaining a Portuguese Taxpaying number, a number of measures must be undertaken such us buying or renting a property and opening a bank account, together with other services that are necessary to make one’s life comfortable.