Thinking about making Porto your new home? With its stunning river views, historic charm, and vibrant culture, Porto has a lot to offer. But don’t let the postcard images fool you—living in Porto has its own quirks, surprises, and challenges that newcomers should know. Before you pack your bags and head to this beautiful city, here are 9 things you absolutely need to know. I’m Lisbob, the expat’s assistant, and I’m here to give you the real scoop on life in Porto!
When you think of the Algarve, images of sunny beaches, stunning cliffs, and endless blue skies probably come to mind. But there’s more to life here than the postcard views. For all its beauty, the Algarve has its own set of surprising downsides that can make living here a bit more complicated than you’d expect. Before making this dream destination your home, let’s dive into 9 surprising downsides of living in the Algarve. I’m Lisbob, the expat’s assistant, and I’m here to help you see the full picture of life in southern Portugal!
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.
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.
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 resident-non-habitual NHR status is a fiscal regime that was created in 2009 by the Portuguese Government. It is a tax system that grants a 20% tax rate or a total exemption on the taxation of income of expatriates who choose to live in Portugal, for a period of 10 years. And this is not just about retirees ! In order to get the famous tax scheme, it is necessary to prepare well. In total more than 23,000 people benefited from this tax regime. Of course, certain conditions must be met in order to benefit from the non-habitual resident NHR status in Portugal, and becoming a resident is one of them. The NHR scheme is granted to both active and retired people if they meet certain criteria. What is the NHR status ? How do you qualify for NHR in Portugal ? What are the conditions to qualify for NHR status in Portugal ? What are the tax benefits of non-habitual resident status ? How to get NHR status ? Lisbob, the expatriate assistant in Portugal, tells you all about the non-habitual resident NHR tax status in 2021.
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.
Swedish pensioners will have one less reason to come and retire in Portugal. Indeed, after long months of negotiations and contradictory statements by both parties, Sweden and Portugal have signed a new tax treaty that particularly affects beneficiaries of NHR status, non-habitual resident. Sweden will regain the right to tax the private pensions of Swedish pensioners living in Portugal, following the signing of a protocol to the tax treaty aimed at eliminating double taxation by both countries. This new agreement simply signifies the death sentence of the tax exemption enjoyed by Swedish retirees in Portugal. Lisbob, the expatriate assistant in Portugal, tells you all about the end of NHR status for Swedish retirees.
