PORTUGAL ENDING THE NHR REGIME
In an unexpected decision, Portugal’s Prime Minister announced this Monday in a TV broadcasted interview the intention to end the NHR tax regime as regards the new applications as from 2024 onwards.
We should have more clarity on the actual details of the measure in the next week, when the Budget Law proposal will be presented before the Portuguese Parliament.
There is no official government position yet on the issue but the decision sounds irreversible.
Given the above we suggest as course of action to do as follows:
- For those that are already in Portugal (non-EU citizens that already obtained a residence permit in Portugal, Ukrainian nationals under the temporary protection scheme or EU citizens), apply as soon as possible for the Portuguese tax resident status and the NHR tax regime before the end of this year;
- For those that are not yet in Portugal (EU citizens or non-EU citizens with a visa appointment with their local embassies) should reassess their move to Portugal and double check if it is possible to complete all steps before the end of the year to avoid any uncertainty on whether it is still feasible to register for NHR status.
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