Re: NHR status portugal
 

Ish,t what a forum is for expressing opinions,
Just imagine the furore in the UK from all sides of the political opinion if wealthy , relative or not foreigners were given generous tax subsidies for spending " officially " a minimum of 6 months a year based on buying or renting a property ,no minimum price set.
No checks on actual residence , in fact once granted no checks at all that they are actually contributing to the Portuguese economy as was origunally envisaged.
I give it no more than a 50,50 chance of surviving more than a few years if that..

Re: NHR status portugal
 

Its been going a long time under the tier 1 investor visa system , the only outcry so far has been Obravamic (spelling) being refused an extension

In short money talks

Eta

Apparently Italy are looking at introducing a similar scheme to NHR to help regenerate towns in the south which are suffering from population degradation , so they think portugals efforts have had positive results

Re: NHR status portugal
 

So, Assaymara, has this spaghetti of opinion, information and misinformation answered your questions? If it is critical to you and you remain unsure of the position, do what we did: get advice from an international tax expert. You will be confident of the answers............ and will also have the potential for redress if those answers are wrong.

Re: NHR status portugal
 

Hi David

It must be true I read it on the internet
😀

Ferry booked for 5th october managed to get a place in pombal for two weeks , then need to find a long term rental in that time frame

Might get to meet for that coffee after that

Regrds

G

Sorry for off topic

Re: NHR status portugal
 

Great Stuff! Let me know when you are here.

Re: NHR status portugal
 

Ha! Ha! I just went through recent posts on this thread for an NHR update, as one does, and my head was spinning, as it was regarding a discussion on healthcare the other day that reverted, somehow, to tax issues.

Thank you Diddion for your thoughts reference avoiding being in Portugal for a good six months when looking at PT property with a view to ultimately buying.

In spite of constructing a lifestyle splitting PT and the Caribbean to avoid a complex NHR arrangement which would involve an inordinate amount of investment tracking and disclosure and ongoing professional advice costs re the annual tax filings (and possibly actual PT tax) we are still looking at the potential for NHR being our way to go but only because we can specifically 'buy' into a lifestyle living in the Tavira area of the Algarve for a good chunk of each year.

Right now we are looking to go in with somebody else (not yet located but working on it) to split 'ownership' on a PT property so that we have right to use (under a lease?) of said property during the months we want to spend in Portugal - these could be slightly more or less than six months depending upon whether ultimately we want to 'go' for NHR. I'm not sure if the concept will work with the relevant authorities. In the concept, we have created a points system valuing each month for rental purposes and carved up a year so that the score is equal for both parts for a 50/50 split on the costs of buying the property but we would buy a 125 year lease and pay ground rent (with stated specific months usage) from the PT resident for our 50%. It's pretty much like a timeshare.

Re: NHR status portugal
 

To a degree, although it does depend a little on the nature of the question or topic as to whether the expressing of any and all opinion in response is relevant.

For my part, on threads like this, I'm chiefly here to help with imparting information which might be useful to people rather than allow my own personal feelings to interfere with an objective examination of a situation. The drift of my comment was that your assessment of the position with regard to the longevity of the regime is being too heavily influenced by your opposition to it on ethical and other grounds and not enough by the pronouncements of the government minister and others responsible for its continuing existence or form.

To date, those pronouncements have indicated that the government is looking at the scheme with a view to possibly making some amendments but that they will be discussing the matter at international level - as an agenda item at the regular Ecofin gatherings of eurozone finance ministers, for example, at which the matter of alterations to beneficial tax regimes in other member states will also be raised.

There has been no indication whatsoever thus far of any appetite on the part of the current government to end the scheme completely. Nor on the part of the main opposition party.

Well, that's nice and vague and I suppose if you keep repeating it often and long enough, you're pretty much bound to be right one day.

However, anybody who, in the meantime, is granted the status would presumably maintain it for the entire period and with the same terms under which it was granted and only new arrivals would cease to have the option to apply. As things stand, the death knell certainly hasn't sounded imminent, though.

Re: NHR status portugal
 

#assaymarra. Your question is impossible to answer to as you do not say from which country is the source of your income. We cannot say without reading the DTA between the 2 countries.

Re: NHR status portugal
 

Got to say, Pistolpete2, that you take the award as far as developing a simple lifestyle is concerned!! I believe that once NHR status has been granted it exists for that original 10 years, including the year of the application. But once in place, there are no actual residency qualifications that are required by Portugal, so you would not have to stay here for a particular minimum period. In other words, it does not lapse. You would need to come here, obtain residency, apply for NHR, and that is it.

Treat my note above with some caution, as it is not something I have myself focused on; I don't know how this rule (if it exists!) would apply in practise, so getting Portuguese residency and subsequently NHR and shortly after disappearing elsewhere could perhaps be looked at askance.

Re: NHR status portugal
 

I need distractions - from the Brexit Garbage. PT is the fantasy out there which could just be the reality.

I thought there was a specific requirement to be resident for six months of the year for NHR on an ongoing basis (with a view to catching your household expenditure as the whole point of NHR).

Re: NHR status portugal
 

There is a facility for suspending the status should you not qualify in any particular year or years and resuming again when you do. The clock doesn't stop during the suspended years, though, so it's 10 years from the start year, even if you don't benefit from some of them (eg because you're temporarily resident elsewhere).

Re: NHR status portugal
 

I'm sure he said UK, in which case yes, it would benefit from exemption under NHR.
Portugal's Non Habitual Resident Tax Regime

Re: NHR status portugal
 

Ok Thanks! I took this from Blevins Franks literally, as being at all times:

"You need to meet Portuguese residency rules to be eligible, however, and these requirements may change for Britons post-Brexit. It will therefore be much easier to apply now as an EU citizen with full freedom of movement. Currently, you can acquire Portuguese residency by spending at least 182 days a year in Portugal or having your main home here. "

Re: NHR status portugal
 

I assume that's about the suspension / resumption rather than the post quoted (:)), in which case it's clearly stated here :
A Client Guide to the Non-Habitual Resident Tax Rules

Re: NHR status portugal
 

"The treaty gives taxing rights to both the UK and Portugal in respect of real estate, so gains on real estate are exempt with progression in Portugal, but gains on shares are fully taxable if sold as a Portuguese resident, whether under the NHR regime or not."

Now.. If I had a drawdown pension in the UK and had NHR status - then reading this its tax free
However what happens when you change the portfolio balance within the drawdown pension (ie move to a more cautious portfolio) - does this incur CGT within Portugal?