Discover Why Portugal is the World's Top Relocation Destination

Watch Back This Webinar Here:

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Attendees gained access to the latest 'Property Hotspots in Portugal Survey Report 2024' from Property Market-Index and the 'Wealthy Expats in Portugal Survey Report 2024/25,' which provided valuable insights into the property market, investment opportunities, and first-hand experiences from over 1,000 affluent expats in Portugal.

Below were some of the webinar's key talking points:

Tax Incentives: The now-ended Non-Habitual Residency (NHR) tax scheme was a significant draw for wealthy ex-pats, offering 0% tax on non-Portugal income and 10% on overseas pensions. Despite its closure, new tax incentives under the "NHR 2.0" tax regime, set to start in 2025, aim to attract high-skilled professions, academics, and entrepreneurs.

High Quality of Life: Portugal's appeal extends beyond tax benefits, with 300 days of sunshine, cost of living, cultural richness, safety, lifestyle and healthcare also key reasons for relocation.

Real Estate Opportunities: The luxury real estate market in Portugal, fuelled by high demand and a shortage of land in affluent expat enclaves, offers attractive opportunities for capital growth, lifestyle living and rental yields. The Golden Visa, D7 Visa, and Digital Nomad Visa have been pivotal in driving this market.

Cultural and Natural Attractions: Portugal's Mediterranean climate and Atlantic coastline, coupled with its scenic beauty, historic charm, and vibrant culture, make it an irresistible destination for affluent expats.

Strategic Location: Portugal provides easy access to other European countries through residency or dual citizenship via Golden Visa residency-by-investment, making it a convenient hub for both travel and business.

The expert panel discussed:

Portugal's diverse visa options, including the D8 (Digital Nomad) visa for skilled remote workers and the D2 (Entrepreneur) visa for start-ups and individuals looking to move their businesses to Portugal.

The Portuguese Golden Visa residency-by-investment program and how affluent individuals can gain residency with a €500K investment in an approved and regulated fund for Golden Visa.

The appeal of Portugal, including the countries attractive cost of living, rich culture, and enviable climate, all of which contribute to the country's growing popularity among expatriates.

Hosting this webinar was Steve Philp, Partnership Director at Portugal Pathways who was joined by a panel of experts which included:

Panellists featured on this webinar included:

Pedro Niza: Senior Manager at Vialto Partners, Niza is an experienced tax advisor on personal income tax and global mobility matters.

Colleen King-Showalter: Co-founder of Portugal The Place, King-Showalter is a relocation specialist specifically focused on Portugal.

Andreas Pretorius: CEO and Founder at Pretorius Wealth Management, Pretorius has over 20 years of experience in wealth management and financial advice at some of the leading firms in the UK and Portugal.

Paul Stannard: Chairman and Founder at Portugal Pathways, who has expertise in Portuguese lifestyle, visa, tax, and investment solutions.

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Answers to key webinar questions from attendees

Disclaimer: The guidance below and Q&As should not be fully relied upon and does not constitute formal instructed professional advice. In relation to tax advice in Portugal, please engage and instruct a regulated professional for all tax advice and structured financial planning. Please contact Portugal Pathways if you would like an introduction to one of our professional advisors.

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Helen is asking:

Hi. I would like to know how the new NHR2.0  will work and if I am able to register/start a business as an artist under this new legislation.

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To find out more about this, please see our NHR 2.0 tax regime guide. The NHR 2.0 Tax regime is still in its early stages and as such may be subject to change iin the coming months.

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Sean is asking:

Under NHR - Can you clarify is pension income is once you start drawing your pension rather than pension savings whilst still working? I am in a similar position to Andrew above in that income would be from UK sources and being compliant and tax effective under NHR or other structures as sole trader or small limited company. I also have some grandfathering questions but suspect not very air tight which I can follow up on.

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Only when you start drawing from your pension is it taxed. If you would like expert advice and support on this, please contact us and schedule a no-obligation discovery call.

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Emily is asking:

Can you tell me how will the new NHR 2.0 tax regime impact retirees and pensions again? Should we try to apply for the old NHR regime before the year-end using one of the grandfathering provisions?

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Yes Emily, the new regime is not going to be applicable to retirees. Therefore, you should try to apply for the NHR regime, if you comply with one of the exceptional provisions. For that you need to be regarded as tax resident in Portugal until the end of 2024.

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Miguel is asking:

Colleen, as someone who moved to Portugal without knowing the language, what strategies did you find most effective in overcoming cultural barriers and integrating smoothly? Do you recommend taking language courses before relocating?

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I tried to use apps before we arrived but it didn't really help until we could use the language in person. I've found it took a couple of tries to find a teacher that worked with our style of learning and then practice is what it is all about.

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