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Foreign source occupational pensions may also benefit from a potential double non taxation should the applicable tax treaty preclude the source country from taxing the pension (most tax treaties signed by Portugal do, including the ones signed with the UK, Germany, Sweden and Norway).  

Qualifying for the status

To qualify as a NHR, an individual must meet the following requirements:

• Be tax resident under Portuguese domestic legislation; and

• Not have been taxed as a Portuguese resi-dent in the five years prior to taking up residence in Portugal.

The NHR status has to be requested up until March 31 st of the year after taking up residency in Portugal.

Golden Visa Residence Programme To promote Portugal even further and to attract foreign investors from outside the EU, a simple and fast-track residence permit program has also been created, known as the golden visa residence programme.

The programme is only available to non-EU citizens who make qualifying investments in Portugal for at least five years, which meet one of the following requirements:

• Involve a capital investment of EUR 1 million or more;

• Involve the acquisition of real estate with a value equal to or exceed-ing EUR 500,000; • Create at least 10 jobs.

From the above it is clear that moving to Portugal offers not only the possibility of enjoying its great landscape, weather, hospitality, food and culture, but also one of the most favourable – if not the most – tax regime for individuals in Europe.

Rosa Freitas Soares Tax partner – Deloitte