Non Habitual Residence was implemented in Portugal in 2009, helping foreigners who become tax resident in Portugal acquire NHR status; giving them the opportunity to become tax free in both Portugal and in the country of source of income for a period of 10 years. According to the rules it is required that a NHR spends more than 183 days of the year in Portugal.
This regime was implemented with a view to bringing more families to Portugal and making it beneficial from a tax perspective. Non-Portuguese sources such as Pensions, dividends and interest are exempt from personal tax in Portugal. Also salaries coming from non-Portuguese sources can be exempt.
Golden Visa is a Residence Permit which can be granted to non EU Citizens or citizens that are not part of the Schengen Convention. Such a permit is valid for one year from the date of issue and is renewable for successive periods of two years, facilitating the circulation throughout the Schengen area. There will be a need to staying at least seven days in Portugal during the first year and 14 days each of the subsequent two-year renewal periods.
The aim is to attract foreigners to investing in Portugal.
For the Temporary permit to be granted certain requirements are necessary:
Such an Investment must be maintained for a minimum period of 5 years from the date when the Golden Visa Permit was granted.
