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Non Habitual Residence

Portuguese Parliament approved legislation which allows retired expats who spend part of the year in Portugal, a tax exemption on foreign sourced income

In September 2009 the Portuguese Government approved the Tax Code for the Investment (“Código Fiscal do Investimento”), which, among other measures directed at improving Portugal’s competitiveness as an investment destination, approved as well a new regime under the Personal Income Tax (“Imposto sobre o Rendimento das Pessoas Singulares”, hereinafer “IRS”) for NonHabitual Resident Individuals.

It is expected that this new regime will constitute a factor of attraction to high net worth individuals and highly qualifed and skilled professionals with the purpose of increasing the demand in our internal market and, at the same time, to potentially increase tax revenue, namely by virtue of real estate taxes on acquisition and ownership (IMT and IMI taxes) and consumption taxes (for instance, IVA and Fuel taxes).