Ukkram

Not quite. Interest is capped at 10% and dividends at 15% by the DTA. If these are paid to you from the UK then NHR will give you exemption as the DTA gives UK rights to the tax.

CGT however is different. According to the DTA only Portugal has taxing rights to it so NHR will give no relief. You will pay the same as local Portuguese at 28% with no deductions or exclusion amount.

This you can take as fact as the above has been my only income for 3 years and even though I have NHR status i have paid tax as per my explanation.

Ukkram

Strange. My nice Cross Border Tax Lawyer in Porto said it is 28% as did my Master Tax Consultant who confirmed it at the AT office in Lisbon.

JohnsonN

Unfortunately you are right. I was badly wanted to find some hope, but not. DDT USA-Portugal says that selling shares i will have to pay to my country of residence. So no hope anymore better find "better" place to live

liveaboard

Netherlands has no capital gains tax, but does have a brutal [defacto] wealth tax. So move there, sell your shares, then move on.
Monaco is great for tax they say, but a broom closet there will cost you as much as a big villa in Portugal or Spain.
Cyprus is good for some types of income. It's al in the details.

You could buy a yacht and just keep moving I suppose.

Ukkram

When my tax loss is used up I will be relocating.

Belgium 0%

Croatia 12%

Isle of Man 0%

Poland 19%

Spain 23%

UK £11,100 annual exemption

Red Eric

You get a personal allowance and some other rebates if resident and not in the NHR regime in Portugal, too.

From your previous posts it sounds as though you might be getting the worst of all worlds at the moment.

JohnsonN

Yes, i was mislead by few real estate agents and few lawyers. I was thinking about Malta, but now it is better to avoid any rush with decisions.
Basically my only income is dividends and then in 1-2 years i amgoing to sell my shares.
And yes, yacht would be a nice idea, but my kids have to be at school )))

JohnsonN

Monaco is too expensive for a large family

EMR

Too many ,far too many have been misled by estate agents claims.
If NHR is your only reason to move then take expert advice before even starting the property search..

JohnsonN

Haha too late
And another news from our local army of lawyers. On today's consultation I was told that i can sell my shares in the USA and keep them there in the bank. And i will not have to declare anything bcs money didn't cross the border. Hmm

EMR

How will you account for your income on your PT tax return.

JohnsonN

They suggest not to declare bcs i am a foreigner resident and if i have money outside- this is my own business..

Ukkram

No no no my boy. It does not work like that. If you sell your shares and the money is made available to you then it is a tax event whether you keep the money in the US bank or not.

If you do not declare it in the year of sale one day you will have to and provide details and proof of purchase price and the sale price. The Sale Contract Note will show the date of sale and you will pay a penalty plus interest.

You have to declare your worldwide assets to the country of residence. Full stop. YOU my boy have sooo much to learn about life.

EMR

Oh if life was only that simple.

JohnsonN

Guys, i am totally agree with you. The issue is that it was the answer of the lawer!! And i keep going, just want to find the one who knows the truth