Q&A: Portugal’s tax regimes to affluent expats in 2024

Since 2009 Portugal has seen a transformation of inward investment and became the number one relocation country in the world last year. This was in part because of its highly incentivised non-habitual residency (NHR) tax regime alongside its visa programmes such as golden visa D7(retirement) visa and D8 (digital nomad) visa.

What is the development?

However this is all set to change in 2024 as the Portuguese State Budget announced that it was ending the NHR tax regime to new entrants from 31 December 2023 unless the applicants had some of the grandfathering conditions to have their NHR tax status application ratified in 2024.

What were the grandfathering conditions?

The five crucial conditions NHR tax status applicants had to have in place before the 31 December deadline to prove their intent and ensure they can qualify for grandfathering conditions were:

• Obtained a Portuguese...