Those Who Planned to Move to Portugal in 2023 Might Still Be Eligible for Non-Habitual Residence Tax Break
According to the local media in Portugal, the PS party will carry on with a proposal to amend the law and introduce a transitional regime for this category in 2023. The act is a counter-response to concerns and potential negative impacts on workers, retirees and investors who planned to move to Portugal during this period, AtoZSerwisPlus.pt reports.
The Socialist Government, which is still in power, was set to redirect these tax incentives in the field of scientific research and innovation, leaving out many professionals, investors and families.
The end of the NHR has brought a wave of concerns among economists and professionals across all sectors in Portugal, including real estate.
This PS proposal will include the transitional regime that was already foreseen by the Government, also applying to those who had already registered as an NHR or met the requirements to join the regime by the end of this year.
This indicates that families who present sufficient evidence that they have prepared their move to Portugal in 2023, will also be covered.
In the document, the Socialist Party explains that its intention throughout the new changes is to strengthen the transitional regime, enabling citizens in this category that undertake material steps to change their tax residence to Portugal and safeguard them, based on the regime that expires with the proposal of the State Budget for 2024.
This indicates that anyone who wants to benefit from the NHR scheme for 2023, will be able to do so by planning their move to Portugal within this year and providing the necessary documentation which includes a promise of an employment contract signed until the end of the year, which has to be within the territory of Portugal; leasing contract or other contract that
Granting the use of possession of property in Portugal until October of this year. In addition, the enrolment or registration for dependents at education establishments in the Portuguese territory until October as well as the residence visa or residence permit valid until December 21, 2023.
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