The Portuguese real estate sector is sounding the alarm ! The limitation of the allocation of golden visas only to those who buy real estate in the interior regions has already led to the cancellation of many promises to buy and sell or even acts of purchase of houses in large Portuguese cities. The Portuguese Socialist Party’s proposal and the Parliament’s decision resulted in the cancellation of the contracts that were to be signed this week. The Portuguese real estate sector indicates that the end of the golden visas in Lisbon and Porto is very bad news because Chinese and Brazilians have already canceled their project. Lisbob, the expatriate assistant in Portugal, tells you all about this bad news for real estate in Lisbon and Porto.
NHR status : Portuguese government decides to tax retirees at 10% IRS and abandons the minimum amount of 7,500 euros
Could this be the end of a long soap opera? In fact, the Portuguese Socialist Party has decided to go ahead with its ambition to reform the status of non-habitual resident, and this this year through the Portuguese state budget 2020. The bill indicates that future retirees benefiting from non-habitual resident status will no longer have the right to a total tax exemption and will have to pay a tax of 10% on foreign pensions. The idea of applying a minimum amount of 7,500 euros was not retained. This proposal is likely to be adopted this year as the forces inciting a modification or even a cancellation of the NHR statute are strong. Lisbob, the expatriate assistant in Portugal, tells you all about the changes in NHR status.
End of Golden Visas in Lisbon and Porto
Socialist Party decided to end the Golden Visas in Lisbon and Porto, limiting the benefit of this status to the interior regions and the autonomous regions. This is a blow to this fiscal instrument which has brought a lot of foreign investment to the big urban centers but has also helped to raise the price of real estate. Rather than completely remove this controversial status, the government of Antonio Costa has decided to limit the allocation of these golden visas to people investing in CMIs and autonomous regions in order to limit the pressure on property prices in Lisbon and Port. This decision to end the Golden Visas on the whole of Portuguese territory is not only happy, but is less worse than expected. Lisbob, the expatriate assistant in Portugal, tells you all about the Portuguese Socialist Party’s decision to end the Golden Visas in Lisbon and Porto.
« It’s a crime against the country ! » : Changes to Golden Visas and NHR status scare off investors, explains APEMIP
Portuguese real estate sector is currently turned against the government and against the bad signals it sends to foreign investors. This is the consequence of the possible modification of the rules for awarding golden visas and NHR status. These tax incentives are under the radar of many European countries which see them as unfair competition. Today, Luis Lima, the president of APEMIP, the Association of Professionals and Real Estate Companies of Portugal, sounds the alarm and indicates that the planned changes are driving investors away. Lisbob, the expatriate assistant to Portugal, tells you all about Luis Lima’s statement.