Would you like to fully enjoy the benefits of the NHR (Non-Habitual Resident) regime? Then reading this article is certainly a good idea. Here you will learn about the basic specifics that can be suggested to give a general introduction to NHR Portugal.
Let us begin!
What’s so good about the NHR regime?
Here are the main benefits of being part of the NHR Portugal regime:
- You’ll get special tax treatment for the next decade;
- There is no wealth tax;
- A flat rate of 20% applies to some types of Portuguese income;
- There is no minimum length of stay;
- As for foreign source income, most of it is tax exempt.
Looks cool right? So if you had any doubts before, you probably see more sense now in applying to NHR Portugal as soon as possible.
Check if you can request NHR Portugal at all
Any applicant wishing to apply for NHR must meet certain requirements. Their list is given below:
- you were not a Portuguese tax resident in the five years preceding your residence in that country;
- You have the right to live in Portugal. More specifically, you can be a participant in the Golden Visa program, EU/Swiss or EEA citizen.
And there is another important aspect. You must be a resident of Portugal on the 31stSt December with the intention of having a habitual residence.
What do you need to do to apply for NHR in Portugal?
There is a clear sequence of actions and you’d better stick to it if you want the whole process to be as quick and easy as possible. Let’s see what it’s about.
- Get all the documents required to apply for the NHR regime. The basic list includes a passport, EHIC card, NIF (don’t worry if you don’t have it now as long as it doesn’t take too long to get it) and a suggested current address if you are an EU/EEA – or a Swiss resident. If you belong to a non-EU citizen, you must apply for a residence permit before starting the procedure.
- Think about how you will apply for NHR. This can be done all by yourself, but you can also turn to professional help. As people say, the second option tends to be easier and faster.
- If you choose to work with an intermediary, you will need to devote some of your time to research. It’s really important to find a nice service provider that won’t let you down. Therefore, do not forget to look at customer reviews and visit the official site. That way you have a general idea of how everything gets done, how much you have to pay and so on.
- Once you have made your choice, contact the service provider. By the way, you don’t even have to do that, just go to the website, find the help you’re interested in (apply for NHR), click there, and that’s it. You will receive further instructions, including an explanation of which documents you should upload and pay for.