Portugal ends the NHR non-habitual resident tax regime in 2024
Portugal residency news – These are the new rules for residency in Portugal for 2024.
Portugal’s Prime Minister António Costa just announced that Portugal will end the NHR non-habitual resident tax regime in 2024.
Will Portugal's NHR non-habitual resident tax regime remain in place for those who have already obtained it?
For the non-habitual residents that have already obtained Portugal's NHR tax benefits, the tax regime will remain in place, according to CNN Portugal.
The stricter tax rules for foreigners who move to Portugal from 2024 are meant to curb the over-inflated house prices that have led to widespread protests and to a new law with bold measures to increase the housing supply in Portugal’s main cities. Portugal’s NHR tax regime has benefited more than 89,000 foreigners.
Foreigners who wish to move to Portugal and obtain tax benefits under the NHR regime will have to obtain an NHR approval by December 31, 2023.