Portugal has become a claim to attract retirees from other countries with a certain purchasing power, who are seduced by the tax advantages in force and, on This is due to the flexibility of the NHR program, that is, non-habitual residents (according to its acronym in English). In those cases, the tax exemption or the very reduced payment are insured for a period of 10 years, so that requests to benefit from this plan have increased by 45% in the last four years. So more and more Spanish retirees are deciding to take the step, in tune with those of Germany, Sweden, France, Holland or Finland, whose government protested months ago for the “unfair competition” that is the Portuguese initiative. Legal sources point out that the European Commission has begun to review this regime due to its discrimination. In the case of the United Kingdom, the requests are already counted by thousands, because of the panic to the uncertainty of the Gradebook Template. The regions of Lisbon and Oporto concentrate the aspirants, although also the Algarve or Madeira stand out on the horizon.
This regime has attracted thousands of retirees who rescue their private pension plans without paying a euro to the Treasury. With these wickers, the country has seduced personalities such as the former vice president of Coca-Cola, Marcos de Quinto -which from 2018 until now had his residence in the Portuguese country-, or the very Madonna, established in Lisbon.
As an example of tax differences, if a large fortune enters 1.5 million euros for labor income, in Spain it will pay around 700,000 euros in taxes, a fee similar to that paid by a resident Portuguese, with rates of up to 48% . Now, if it is a Spanish host to the Gradebook Template regime, the bill would fall to around 300,000 euros, 20%. A distance of about 400,000 euros between one status and another that is increasing with higher profits: there is an exemption for dividends, interest, rental income and others. Yes, the Treasury realizes that the residence is actually located in the Portuguese country and for that purpose it traces from the consumption of electricity or gas to if the taxpayer in question is subscribed to local newspapers, consultants point. “There are some associations with partners with high purchasing power and with very high accumulated pension funds that are in the process of moving their residence to Portugal to take advantage of all the fiscal advantages of this side of the border,” an executive of an Spanish bank present in Portugal.