Golden Visa for Portugal

Short History: Rich in history and culture, Portugal has long been a destination favorite. Infrastructure and economic growth continue to strengthen across the country and its ecological focus is often recognized worldwide. As part of continental Europe and as one of the oldest nation-states in Europe, Portugal has eras influenced by the Celts, Romans, Visigoths, Carthaginians, and the Moors. In the 15th century, it became the first global empire and led the Age of Discovery. Its unique blend of traditional and modern cultural influences are found all throughout the lifestyle aspects of the country.

Taxes: 10-year income tax exemption on foreign income with the NHR status (non-habitual resident tax regime, no minimum stay required). Portuguese income from specific professions and self-employment is taxed at 20% with the NHR status as opposed to the normal Portuguese personal income tax rates between 14.5%-48%. Portugal currently has 52 double tax treaties. Rental income is taxed at 15%. There is no inheritance tax in Portugal. The corporate tax rate is 21%, with exceptions and reduced rates available. The capital gains tax for individuals is 28% and corporations 25%. There are also municipal taxes for both individuals and companies.

Advantages & Disadvantages: Portugal is a melting pot of different cultures and heritages. Many foreign communities have established themselves in the country over the decades. Beyond community, Portugal is the second safest country in Europe, with a warm attitude towards foreigners. The country can be quite affordable in comparison to other EU countries. General produce and locally-sourced items are very cheap, but consumer goods tend to be quite costly. Consumer goods are anywhere between 20 to 50% more expensive.

Languages: To live in Portugal, knowing Portuguese is a must. It is also part of the requirement for citizenship. However, the interest in English is growing and more young students are interested in learning the language.

Healthcare: Residents of Portugal enjoy paid healthcare, with most services being free and only a few cases of additional fees. Often fees for both private and public facilities are quite low and private insurance policies can save a patient 50 to 75% of the costs. Through the healthcare card issued for residents, medical care is administered in public hospitals. Residents receive a family doctor through which referrals for specialists are conducted.

Retirement: Through the residency programs, non-EU retirees are granted a ten-year exemption on taxation on all foreign income. Locally-sourced income is taxed at a flat rate of 20% instead of the progressive rate. This must be applied for before March 31 to qualify for the same year.