NHR VISA PORTUGAL
PORTUGAL'S NON-HABITUAL RESIDENT VISA
First implemented in 2009 Portugal’s Non-Habitual Resident Visa, better known as Portugal’s NHR Visa, is a program aimed at increasing the country’s international competitiveness by attracting ‘High Skilled’ professionals and investors to through a regimented white-listed low-tax benefit program.
NHR VISA BENEFITS
- Administrators, managers or representatives of companies promoting investments, and projects are eligible to be granted tax benefits in accordance with applicable tax codes within Portuguese law
- Portugal has no wealth tax or capital gains tax
- Inheritance and/or gifts received by a spouse, descendant or ascendant are tax exempt
- Inheritance or gifts received through other individuals will either not be taxed under existing Portuguese law or may be subject to a flat tax of 10%
HIGH-SKILL QUALIFICATION LIST
Those investing or executing professional activities considered ‘High Value’ skills under Portugal’s Non-Resident program are:
- General company directors and executive managers;
- Directors of administrative and commercial services;
- Directors of production and specialized services;
- Directors of hotel, restaurant, commercial and other services;
- Specialists in physical sciences, mathematics, engineering, and similar technical fields;
- Physicians;
- Dentists and oral specialists;
- Intermediate level science and engineering technicians and professionals;
- University and higher education teachers;
- Information and communication technology specialists (ICT);
- Information and communication technologies technicians;
- Authors, journalists, and linguists;
- Creative and performing artists;
- Farmers and qualified agricultural and livestock workers;
- Forestry, fishery specialists and hunting workers;
- Qualified industrial and construction workers in metallurgy, metalworking, electricity, and electronics, food processing, wood manufacturing, clothing production, manufacture of precision instruments;
- Qualified craftspeople including, handicrafts, printing, jewellers, artisans;
- Installation, machine and assembly workers, such as fixed installations and machine operators
SOURCE INCOME REQUIREMENTS
- Foreign-sourced employment income is exempt from Portuguese tax if recognised in the source country either under a double taxation treaty or the OECD tax convention, and not deemed as Portuguese-sourced under applicable Portuguese law
- Foreign-sourced self-employment income, investments, royalties, capital gains and rental income will be exempt from Portuguese tax when taxed at the source country either under a double taxation agreement or under the OECD tax convention. Qualification requires self-employment income to be from non Portugal-source or non blacklisted country, under Portuguese law
- Foreign-sourced pension income, as of 2020, is liable to a 10% flat tax. A tax credit will be available for tax paid abroad and recognised under a double taxation treaty or deemed non Portuguese income under applicable law
- Portugal-source employment or self-employment / sole trader income will be taxed at a flat rate of 20%, while other Portugal-sourced types of income will be taxed at the normal rates applicable to resident taxpayers, the calculation of the applicable marginal tax rate taking into account all income, including exempt income
- Portugal-source ‘High Value Occupation’ income or self-employment, as listed below, will be taxed at a flat rate of 20%. Non qualifying Portugal-sourced income will be taxed at standard applicable resident taxpayer rates, calculated at the applicable marginal tax rate for all income, including exempt income
APPLICATION
Professionals applying under these criteria will need to possess verifiable qualifications:
- A minimum level 4 education within the European Qualifications Framework
- A level 35 on the International Standard Classification of Education or have at least 5 years of professional experience in their field of expertise
- And or other or other depending on the field