If you have financial interests in Portugal but live outside the European Union (EU) or European Economic Area (EEA), you may be required to appoint a fiscal representative. This guide will explain why a fiscal representative is essential, who needs one, and how it can help you navigate the complexities of Portuguese tax laws. From ensuring compliance with tax regulations to assisting with the application process for a NIF (tax identification number), a fiscal representative can be a crucial partner for non-residents doing business or owning property in Portugal. Read on to find out if you need one and how it can benefit you.
Lisbon is a cosmopolitan and dynamic city, with many different neighbourhoods, each with its own atmosphere and lifestyle. If you're looking for a place to settle down, it's important to compare Lisbon's different neighbourhoods before deciding where to put down your boxes. I'm Lisbob, the expat assistant, and I've come up with my list of the best areas in Lisbon to move to, in no particular order.
Moving to Portugal is an exciting adventure, but it comes with some hidden costs that can catch expats by surprise. From property maintenance to social security contributions, these expenses can add up quickly if you're not prepared. Today, we're uncovering the top 9 hidden costs of living in Portugal to help you plan better and avoid any unpleasant financial surprises. Ready to get the inside scoop? I’m Lisbob, your trusty expat assistant, here to guide you through it all.
Moving to Portugal is an exciting journey, but there are a few secrets locals don’t usually share. These hidden gems and insights can make a huge difference in your expat experience. Today, we’re uncovering the top 9 secrets locals don’t tell you about Portugal. Ready to get the inside scoop? I’m Lisbob, your trusty expat assistant, and I’m here to guide you through it all.
Moving to Portugal is an exciting journey, but it’s easy to fall into some common traps. From underestimating the bureaucracy to mismanaging finances, there are plenty of pitfalls that can make your transition harder than it needs to be. Today, we’re diving into the top 9 mistakes expats make when moving to Portugal and how you can avoid them. By being aware of these, you can ensure a smoother, more enjoyable move. Ready to get started? I’m Lisbob, your trusty expat assistant, and I’m here to guide you through it all.
The rules governing NHR tax status had been extensively modified by former Prime Minister Antonio Costa, and had become virtually impossible to obtain. The new Portuguese government has announced that it wants to reintroduce this famous non-habitual resident status, but not without a few changes. I'm Lisbob, the expat assistant, and I'll tell you all about the return of the NHR status programme.
The Bloco de Esquerda (left-wing bloc) today presented two proposals, as part of the Portuguese state budget for 2020, to end the golden visas and eliminate the non-habitual resident regime. This is not the first time that the left party has put forward such a proposal with the aim of bringing more tax justice, but this year the bloco de esquerda intends to have its proposals adopted. Lisbob, the expatriate assistant in Portugal, tells you all about the Bloco de Esquerda's insistence on ending the RNH status as well as the golden visas.
Selling Portugal as a "fiscal Eldorado" or "Florida of Europe" will be more difficult. Foreign retirees who join the non-habitual resident regime (NHR) in the future should lose the tax exemption and double non-taxation and will have to pay a tax rate of 10% with a minimum tax of 7,500 € per year, according to sources close to the government. For several weeks, NHR status specialists have been agitating to find out whether the famous tax system will be abolished or modified for foreign retirees. The subject is advancing because today it is a clear proposal from the PS which will be debated as part of the 2020 State Budget. A tax rate of 10% with a minimum amount of € 7,500 in taxes to be paid per year : this is the PS's proposal for the 2020 State Budget. Lisbob, the expatriate assistant in Portugal, tells you all about the new NHR status.
Some will still say "fake news" but it is something that is approaching: the end of NHR status as we know it. Indeed, the Portuguese government has decided to go ahead and propose changes to the NHR tax regime which grants total tax exemption for 10 years to foreign retirees. It’s the Jornal de Negocios that headlines it today. They say the government is preparing a minimum tax rate on foreign pension income, but will not change the conditions for current beneficiaries. Lisbob, the expatriate assistant in Portugal, offers you the translation of this article from Jornal de Negocios.
Some beneficiaries of the NHR status might be anxious ! Indeed, the Portuguese tax administration carried out 264 inspections of beneficiaries of the regime of non-habitual residents (NHR), which led to tax adjustments and, consequently, an increase in the tax payable. Some beneficiaries played with fire by not fulfilling their part of the contract. In order to be able to continue to benefit from NHR status, you must reside in Portugal for at least 183 days (6 months) per year. Persons who have been unable to prove their residence in Portugal for at least 6 months have been notified of tax adjustments. Lisbob, the expatriate assistant in Portugal, tells you all about this wave of checks for beneficiaries of NHR status.
NHR (non-habitual resident) status may be spending its last days, at least in its current version. This tax status allows foreign retirees to be granted full exemption from taxation on private sector pension income. This sometimes leads to situations of double non-taxation, with pensioners not being taxed either in Portugal or by their country of origin, drawing some criticism. The Portuguese government, as part of the 2020 State Budget, has admitted studying the possibility of terminating the NHR status on January 1, 2020 and applying an IRS tax to foreign retirees who enjoy the status of non-habitual resident of 15% to 20%. The subject is even on the table of the Portuguese Council of Ministers and a final decision should arrive soon. What is the detail of this upcoming change to the NHR status? Is there really a chance that this proposal will pass for January 1, 2020? What impact for current beneficiaries of NHR status? Lisbob, the expatriate assistant in Portugal, tells you all about the end of NHR status.
