The Spanish over 65 years old group is joining the French, Germans, Swedish and Finns in retiring in Portugal and taking advantage of Portugal’s Non-Habitual Resident tax regime.
According to the Spanish newspaper ABC, the Finnish Government has already accused Portugal of implementing tax breaks which amount to “unfair competition” and now the European Union is reviewing its policy on member-states offering such tax regimes to citizens of other member states.
There have been a string of articles published in Spain, including in the newspaper ‘El Mundo’ which trumpets Portugal as one of the best countries to live after retirement.
The newspaper says the “people are hospitable,” the “cities are attractive,” it highlights Lisbon, Porto and Braga and mentions the “vast rural landscape,” “healthy diet” and “wild unspoilt coastlines”.
ABC states that interest from British citizens has also picked up over Brexit uncertainties with the Lisbon and Porto regions attracting most applications for the NHR regime as well as the Algarve and Madeira.
ABC states the moving to Portugal means saving thousands of euros in tax payments. The newspaper gives the example of a Spaniard with a €1.5 million income paying 48% taxes in Spain (€700,000) while in Portugal on the same income, that Spanish citizen would pay just 20% in taxes, around €300,000.
“There are some companies and associations with partners who have high purchasing power and very good pension funds who are transferring their residence to Portugal to take advantage of the tax breaks on the other side of the border” states the newspaper.
Official numbers released at the end of 2018 show that the number of foreigners who opted for settled status in Portugal increased 83% over the past year and a half, particularly the British, French and Italians.
About Portugal Homes
PortugalHomes.com specializes in selling Holiday Homes and Investment Properties. We help buyers find the right property overseas whether it be for Golden Visa, NHR, Investment or simply a place in the sun, our properties are selected with great thought in mind to give our clients the best opportunities, we offer the complete service from Introducing them to Legal Representatives, Currency Exchange, Mortgage Advisors, Property Management, Rental and Furniture Packages along with making sure all our staff are trained to fully understand the buying process and taxes for every scenario, we provide the complete service to anyone looking to buy a new or resale property overseas for holiday use or as a short or long-term investment.
To find out more, please contact us:
A Portugal Homes possui profissionais muito experientes e conhecedores, que trabalham com alguns dos promotores mais reconhecidos em Portugal . A nossa vasta experiência permite-nos guiá-lo pelas melhores opções de investimento.
Seja casa de férias ou uma propriedade para investimento, selecionamos as melhores propriedades para o seu perfil e tratamos de todo o processo do início ao fim. Mesmo após a venda! Os nossos serviços de pós-venda assumem a responsabilidade de mobilar a seu gosto, manter a propriedade na sua ausência, dar apoio ao arrendamento, no caso de querer arrendar e muito mais!
Para saber mais sobre Residentes Não Habituais em Portugal e sobre os nossos serviços pós-venda, preencha o formulário abaixo.
Thanks to Andreia Leite for the comprehensive and timely updates on the construction progress of the new development we purchased!Investidor dos EUA
Very helpful. Work with his heart. Mark is a very nice advisor.Investidor de Marrocos
Ryan was an excellent real estate agent, he really steered me in the right direction based on what I said was important to me. Living in another country, I wasn't as familiar with the city as he is. Where I thought I wanted to live and what I truly wanted were not the same. He took the time to listen and figure out the best spot for me, and we are very happy with it - far more than we would have been elsewhere.Investidor dos EUA
A experiência geral foi ótima desde o acompanhamento até o pós-venda. Gostaria de agradecer especialmente ao Sr. Simon, à Sra. Francisca e à Sra. Mariana.Investidor dos EAU
George Hobson é um jovem agradável, conhecido como conhecedor, experiente, trabalhador, honesto e disciplinado; Senti-me muito confortável em fazer facilmente o meu investimento.Cliente dos Emirados Árabes Unidos
A Luísa é uma pessoa muito compreensível, e sabia exactamente o que procurávamos; até nos mostrou e deu-nos mais opções de escolha. Aconselhamento, hospitalidade e serviço muito profissionais.Roshana (Zulfiqar) Mian | Hong Kong