Portugal offers a unique opportunity for individuals looking to become a non-habitual resident. This program allows individuals to become a resident of Portugal while enjoying a special tax regime for a period of 10 years. This means that income from foreign sources will be taxed at a flat rate of 20%, rather than the standard tax rate, which can be as high as 48%. Additionally, pension income is also taxed at a reduced rate. It's also a safe and stable country with a strong healthcare system. All of this makes Portugal a perfect destination for those looking to start a new chapter in their lives, whether it's for retirement or for a career change. In this blog, we will explore the benefits of becoming a non-habitual resident in Portugal through a golden visa and provide a step-by-step guide on how to apply for this program. Becoming a non-habitual resident in Portugal through a golden visa
The Golden Visa program in Portugal is a popular option for individuals looking to become a non-habitual resident in the country. This program allows individuals to gain residency in Portugal by investing in property or starting a business. In this blog post, we will go over the application process and requirements for the Golden Visa program in Portugal, as well as the benefits of becoming a non-habitual resident in the country. Eligibility Requirements: To be eligible for the Golden Visa program in Portugal, individuals must meet certain criteria, including:
Investing in property worth at least €280,000 or starting a business that creates jobs in Portugal
Having no criminal record
Having sufficient financial means to support themselves during their stay in Portugal
Application Process: The application process for the Golden Visa program in Portugal can be broken down into the following steps: Step 1: Gather Required Documents: In order to apply for the Golden Visa program, individuals must gather a number of required documents, including proof of investment, a criminal record check, and proof of sufficient financial means. Step 2: Submit Application: Once the required documents have been gathered, individuals can submit their application to the relevant government agency in Portugal. It is important to note that the application must be submitted in person. Step 3: Wait for Approval: After the application has been submitted, individuals must wait for approval. The approval process can take several months. Step 4: Obtain Residency: Once the application has been approved, individuals will be issued a residence permit, which allows them to live in Portugal for a period of one year. After the first year, the residence permit can be renewed for an additional two years. Benefits of Non-Habitual Residence: Becoming a non-habitual resident in Portugal has a number of benefits, including:
Tax benefits: Non-habitual residents are eligible for a special tax regime, which allows them to pay tax on their foreign income at a flat rate of 20%.
Access to healthcare: Non-habital residents are also eligible for the country's public healthcare system.
Access to education: Non-habitual residents can also enroll their children in Portugal's public schools.
Conclusion: The Golden Visa program in Portugal is a great option for individuals looking to become a non-habitual resident in the country. The application process and requirements are straightforward, and the benefits of non-habitual residence are significant. If you're considering becoming a non-habitual resident in Portugal, it's worth looking into the Golden Visa program as a way to make it happen.