Moving to Portugal news – What are Portugal’s new immigration and housing laws for foreigners who move to Portugal in 2024?
1 – What is Portugal’s new immigration agency?
Portugal’s old immigration agency SEF is now extinct and is replaced by AIMA – Portugal’s Agency for Integration, Migrations and Asylum.
2 – Portugal’s NHR tax regime ends
Foreigners who want to move to Portugal and to benefit from the Non-Habitual Resident tax regime will only be able to do so if they can prove that they have started the process to move to Portugal before the December 31, 2023, deadline. Acceptable proof includes: an employment contract or agreement, a lease contract or a promissory contract for purchasing a property, or proof of enrollment of children in a Portuguese school. The NHR tax regime means that the tax rate for income obtained in Portugal is a flat rate of 20% for a period of ten years.
3 – What are Portugal's new Tax incentives for foreigners who want to immigrate in 2024?
Here is the link to the list of new Tax incentives for foreigners who want to immigrate to Portugal:
4 – New rental contracts in Portugal in 2024 are subject to a price cap:
New rental contracts in Portugal in 2024 are subject to a cap of 2%. House rentals that have been on the market during the last 5 years are subject to a price cap of 2% above the legal inflation rate that is 6.94% in 2024. Portugal’s rental cap is in force until 2030.
5 – What is Portugal's Property tax in 2024?
Municipal Property Tax (IMI) in Portugal in 2024 only increases in the case of residential buildings that are subject to the automatic triennial update of the tax asset value. In that case, the IMI will increase by 6.75%. In the case of commercial properties, the IMI tax increase will be 9%.
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