BREAKING: Portugal is Raising Taxes (No More NHR)

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In this video, Andrew dives deep into the breaking news regarding Portugal's changing tax landscape. The once-popular NHR program is coming to an end, and Andrew will walk you through all the crucial details you need to know.
00:00 Start
00:26 The Importance of Acting Early
1:17 Overview of the NHR Program
3:26 Reasons Behind the Changes
6:46 Potential for Veto and Legislative Changes
9:02 Opportunities and Alternatives
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[@somethingclever1234]

THIS is why moving to a specific country isn't permanent. You might think "I'll just move to Malaysia" and then 5 years from now the next politician decides to change the tax code and now you have to move again.

[@strangerdanger8462]

Depends on one's motives for moving in the first place. If the goal is tax avoidance, stick to the tried and tested Caribbean tax havens and/or Dubai. For reasons of culture or cost of living, the options are more abundant.

[@luisbarbosa8136]

exactly. Think in the same way

[@microfarming8583]

In which time you've saved millions. Sounds sensible to me

[@hugheaston7598]

It's why, if you're planning to move to a country long term, you should always get citizenship of that country. If that country doesn't offer citizenship to foreigners, scrub it off your list. If you only have residency, that can be taken away at any time on the whim of some politician, and you find yourself suddenly out on your ear. Not good if you've bought property and geared everything towards living in that country permanently.

[@garciatunion]

this is why you always have to diversify

[@davidalmeida2991]

Hi! Portuguese here. No, we don’t blame foreign people that want to live in Portugal, we blame the MARKETS. It’s a fact that ex-pats are making our housing ever more expensive. And yes, we pay a lot of taxes, but we have public option for healthcare, paid sick leave, maternity and paternity paid leave, and many other social safety networks (say hi to Democratic Socialism). If someone wants to live here and use our system and live in our safe country with a nice standard of living, they should pay taxes like we all do. Nothing strange about that. Those who think differently have a name: parasites.

[@goncaloaraujo6644]

I dont agree, If someone of higher income contributes more in absolute terms he is contributing more than someone of lower income. The houses aren't more expensive because of only expats. Even if none of them came here there would be a housing crisis. Not enough houses are being built for the youth. Public Health and Education is everyday worse than the day before. Our government is just bad. Suffocating people on purpose in order to give subsidies and making them seem as heroes. The elderly will vote for PS. The rest is either between PS and PSD. The worst voters vote for the communist, the left-block or CHEGA. Meanwhile I, like many others, who have studied a bit, will have to watch our country plummet in every success metric.

[@davidalmeida2991]

@@goncaloaraujo6644 Ok, let's agree to disagree, but social justice demands that citizens pay taxes PROPORTIONALLY to their wealth and income and definitely not in absolute terms. That is the neoliberal approach (I assume you vote of IL, of course) but that kind of policy is exactly what has been exacerbating inequality and inequality, as we all know, drives societies to social unrest and injustice in general. It's a distorted perspective that gives an even bigger (and unfair) advantage for those who already have more than the average. Those with higher income should pay the same as everyone else because what really counts is the "effort ratio". You cannot ask of those with LESS to pay a bigger SHARE, it makes no sense at all.

[@bilie9117]

Portanto estes espertalhões queriam viver no nosso país e não pagar taxas… Já temos ciganos o suficiente!!!

[@vm6824]

Canada has all those social nets too and the tax system isn’t as bad as Portugal. The argument right now is that the cost of living is so much lower so higher tax rates are ok. However, your costs are rising, so now there is no benefit. Better to go to Spain, pay similar tax to where you came from and live like you always have in better weather.

[@santosss333]

Excelente comentário parabéns!

[@dolittle6781]

Unfortunately, this is the kind of thing that happens when influencers tell the world about "good deals": they quickly cease to be good deals. The best deals are the ones very few people know about. If you are aware of a good deal, don't tell anyone. But this wouldn't be good for businesses like Andrew’s.

[@russianguy1341]

Excellent point, which is why I am so happy he rarely ever mentions my little haven. Granted, it takes certain circumstances to qualify for residence status, or eventually citizenship, but its safe, clean, organized, low on costs for a first world nation if you know how to work the edges, and naturally beautiful.

[@chezbonbon5362]

Yes, I agree. Only the fools are going everywhere to tell everybody.

[@Mage1717]

The severity of the real estate crisis is undeniable. Rental prices are soaring; for instance, I’m paying the same amount for a 70sqm apartment near Avenida da Liberdade as I do for a 90sqm renovated property in Paris’s 7th district, near Ecole Militaire. Real estate agents in the Lisbon to Cascais area are heavily exploiting the situation, demanding exorbitant upfront payments of up to 24 months’ rent and the quality of the available properties is laughable. The influx of foreigners, attracted by the prospect of establishing tech and startup communities, hasn’t been managed well and it was treated as an opportunity for a quick buck. It’s also not uncommon to encounter dismissive attitudes from locals, which exacerbate the tension. With wages in Portugal remaining relatively low, many locals are forced to move southward in search of more affordable living options.

[@ruinunes8251]

In some areas, housing is really unaffordable for the locals.

[@BalanceProper]

We have a short term rental business in Portugal. We’re selling everything . We have to.

[@robrobchen2343]

spain Backhamlaw?

[@ruinunes8251]

Why are you selling ?

[@BalanceProper]

@@ruinunes8251 because of the uncertainty. It seems like at any given time the government can come in and tell you that you cannot operate your business anymore. Well, we can take our business elsewhere. Greece , Malta , Spain are still open for business .

[@robrobchen2343]

any plans to move to spain?

[@BalanceProper]

@@robrobchen2343 move no , but Andalusia is certainly an attractive place for a short term rental business .

[@Alex_Martz]

The Endgame is UNIVERSAL tax for all Europe, regardless where you live you'll have to pay MORE, especially for Spanish citizens that are the most using Portugal as tax residency to avoid the ridiculously high taxes of Spain due to their communist government

[@Technoanima]

Then end this socialist experiment, Portugal was a monarchy anyway.

[@olderandwiser127]

The only communist states in the world are in China, Cuba, Laos, Vietnam, and North Korea. Spain is not communist. The Communist Party of Spain has been part of the United Left coalition since 1986; two of its politicians are currently ministers (Labor and Social Economy and Consumer Affairs). There is certainly corruption, just like there is in the USA and every other country in the world, but Spain is far from being a communist nation.

[@microfarming8583]

Spain is draconian to say the least. Their social security payments are sickening as are the taxes to buy a property

[@vinlago]

Pillar 2 outlines a global minimum corporate tax (which I believe is just the start).

[@mcflurrybutts4927]

Rich countries are already attempting to force taxes on poorer countries through the UN. It's an attempt by privileged countries to stop development in other countries. It's actually corporate welfare that requires the high taxation. Without taxes, it becomes impossible.

[@marcelopinho216]

You has a NHR just pay just 20% of your 10k euros monthly income for ten years and the locals pays 44.5% plus 11% for social security how do you think the locals feel about that?

[@msbarb1]

I live in Portugal and have Portuguese friends they don't think it's fair and I have to agree with him

[@Bzzzz372]

Its an entirely different system. In US most people pay for their insurance and so many other things. In Portugal you get more free things for slightly higher tax. Also even in Portugal tax is lower for lower income. You are minority who is only thinking in terms of jealousy. You dont help any cause.

[@sandraleo]

The government has really called things more difficult for its citizens, and we can't sit back and bear all the consequences of the bad governance. It's obvious we are headed for hyperinflation,it is always the poor who take the hit.

[@shenviana5750]

Agree 100%

[@Ashleycorrie8494]

It's been a rough year with losses from failed banks and government, real estate crashes, a struggling economy, and downturns in stocks and dividends. It feels like everything has been going wrong. What a terrible year it is…

[@FallacyAsPraxis]

So it seems that even good rich people are running out of options in terms of where to go. Hard to get in anywhere good now, even if you can pay.

[@microfarming8583]

​@polupopus5836 most of your time in England or Ireland? I'd rather pay the tax 🤣

[@melissaakey4631]

@@polupopus5836I loved living in sg for four years and six years in oman and turkey and now Thailand and portugal. Oman has super easy way to have residency and I did not have to pay taxes there. Super nice people and great beaches and great opera house (just be ready to hang at your house or the mall in July and August or travel to colder places hehe)

[@ricardoluz5496]

As a Portuguese i would prefer to have the same tax breaks as foreign people. Portuguese can not raise their income because the government is there to get half of what we make.

[@liquid_metal]

Leave then.

[@sahnie82]

Go to where you are treated best… Andrew keeps saying that. It most likely won’t be your home country.

[@jamesdellaneve9005]

I know that Portuguese earn less than Americans, but do you guys really pay 50% income tax? In the US that doesn’t kick in unless you make $500K in NY or Cali.

[@ricardoluz5496]

@@sahnie82 i follow this channel for some time now, although it gives good content i dont watch all the videos. There are some things i dont agree here but that dont means i dont like the channel or the content, one thing i know i love and its to get knowledge from people that know more things than me. In a way i can agree with that "go where you are treated best", but in other way, my nature, inside of me there is a force that says "stay and fight for your future". A lot of young educated people are moving away , and its sad because the youth is the future of the country ...

[@ricardoluz5496]

@@jamesdellaneve9005 after all taxes yes , direct and indirect.

[@neoarmour]

LOL I have an appointment this week at the Portuguese consulate to get citizenship by decent. Oh well. At least I have access to live anywhere else in Europe.

[@ApenasUmSenhor]

if you're quick enough, you can still get it through before year end

[@valuetraveler2026]

Thats the problem. Bait and... switch

[@valuetraveler2026]

@@polupopus5836 so dumb having to second guess any government

[@ttthpt]

Any comments on recent tax changes in Thailand and how this will play out in practice?

[@nomadcapitalist]

Interesting topic. Stay tuned for the upcoming videos!

[@mpeugeot]

It only takes politicians a little while to f' up a good thing.

[@somethingclever1234]

precisely

[@Pauln71]

​@@polupopus5836A modest increase for foreign income is probably warranted. Should they reduce their overall tax rate.. Sure they should. But Friedman I don't think so

[@hemantparakh6462]

1- Unemployment 2- Income 3- Expenditure

[@vince1012]

"Grandfathered in" is not a universally respected concept. Governments will always try to optimize for themselves.

[@GleeSmee]

Portugal is over. The direction of travel is all in the wrong direction.

[@Bzzzz372]

for sure this year, the NHR is still in effect and its a great deal.

[@PaulTakesPhotos]

Thank god for those communist Portuguese who actually are addressing social issues caused by folks who don't want to pay taxes but do want the benefits.

[@Henurisongs]

the comunists arent doing anything they barelly have any power in this country what are you on about?

[@heyandrewharris]

Correct me if I am wrong, but I always thought that the NHR program "looked good on paper" but when you read the fine print, you realize that it's actually not that great. Specifically, most people end up paying 20% tax even on foreign income, but you also have to pay 21% social tax, which unlike other countries, does not cap out, so really you're paying 41% in tax. Not really sure what is so great about that. I should say that this is the case for most freelancers or self employed people. Again, if I am wrong about this, please correct me.

[@guusgeluk3693]

When I looked into nhr as a freelancer I came to the same conclusion.

[@eyeshaking5054]

@heyandrewharris I don't think it is correct, it is not additive. Under NHR, after the first year, depending on your job type, you can pay smth like 0.214*0.7*0.75 * INCOME = NISS. Then you'll have smth. like (INCOME-NISS) *0.2 as your resulting tax #. All in all it amounts to smth. like 30% (again it depends on various variables) this a back of the envelope comp.

[@astridcyanistescaeruleus4126]

I have this feeling wherever we go now, taxes will be sky high everywhere. So you invest to move in a country that 6 months after will start ruin you even more than the country you're running away from

[@astridcyanistescaeruleus4126]

@@scottfree993 which is?

[@robster7012]

Andrew would you consider offering your advice to those of us that aren't 7 or 8 figure clients in a 'lucky' draw type set up? Your subscribers could enter and each month someone gets chosen. I'll buy the food and drinks 😅 Seriously though what do you think?

[@nomadcapitalist]

Thank you for the suggestion! We actually have an annual live event where Andrew, our team, and professional guests serve as speakers. It's a fantastic opportunity for our audience, especially those who may not be 7 or 8-figure clients yet, to attend, learn more, and receive valuable advice. nomadcapitalist.com/live/

[@robster7012]

@@nomadcapitalist I'll make the next one 😎

[@liquid_metal]

Services based businesses are always limited by time, which is what Nomad Capitalist is. I am not quite there yet, but I totally understand why Andrew would not waste his time with low value clients.

[@vinlago]

@@liquid_metal I get that. Personally I'd rather train everyone willing to learn so that their economic disaster doesn't become mine.

[@annedechamplain3078]

@@nomadcapitalist Where will it be next year? I wanted to go this year but I was busy managing a conference which started on September 10th here in Perth. So close and yet so far!

[@luisfilipe534]

So... using the comunal services in a country... and expect just the locals (that earn a misery) pay for them...

[@luisfilipe534]

@@polupopus5836 so... just pay VAT for consumption os enought? So portuguese shoud just pay this tax also.... No my friend, real estate speculation promoted here by foreigners is just destroying peoples life here... read some local newspappers.

[@luisfilipe534]

@@polupopus5836 great... untill then, lets pay all, local and foreigners, the same taxes.

[@ruinunes8251]

@@polupopus5836Some people thought that the golden visa was the best thing to the country. However what some people don't see or don't know is that many of the houses bought under the golden visa was a getaway to get citizenship to main land Europe and so on, and many of these houses were or are empty much of the year not bringing any revenue whatsoever to small business.

[@Hafonso76]

As a Portuguese I think that exemption for immigrants moving to Portugal shouldn’t had existed in those terms the first time. It was a poor decision from the government to attract capital that lasted to many years.

[@Muhayyo666]

Don’t you think it was good idea to pour money for the country’s economy ? imo it was a good idea and long term wise , it will gradually improve

[@cobralingue8530]

Well, perhaps they actually don't want people coming to Portugal. What I've heard from many people in expat communities in Portugal is that the locals are extremely tired of foreigners and many don't want them there.

[@ruinunes8251]

I don’t think the problem is that people don’t want them there. Housing is stupidly so expensive right now, people are struggling to afford housing. The government needs to do something.

[@Bzzzz372]

housing is expensive because of the interest rate hikes.@@ruinunes8251

[@Bzzzz372]

nobody has a choice. Every country has a lot of foreigners. Its 2023!

[@cobralingue8530]

@@Bzzzz372 well, the government would have the option to make it a lot more difficult to move to Portugal of they want. Same thing Turkey has been doing the recent few years where a lot of people have lost their residence permits, and a lower percentage of new applications have been approved.

[@cobralingue8530]

@@ruinunes8251 I think the housing problem is part of why people are sick and tired of foreigners.

[@alexzicker]

What about the original liberal and democratic principle of equality before the Law? We have regressed to feudalism: different tax for different class? If you are bound to the land you are a serf and help to support the privileged: those who can easily get away.

[@gerardclement3095]

Thanks for the update. For Canadian citizens there is a tax treaty between Portugal and Canada (Government of Canada website: Taxes on Pensions and Benefits for those outside Canada). My understanding that any pensions (Old age security, Canada Pension Plan or other employers pensions) are taxed in Canada at 15% and it cannot be taxed again in Portugal. For dividends or interest earned in Canada, Canada will deduct 15% and again they should not be taxed again in Portugal. Also, a non resident can deduct an amount of $12,000 cad from its pensions before the 15% is deducted by Canada (NR5 Form). Based on the above, if the intent is to simply retire without working and if my understanding is correct, I don't see the impact this change will have on people who simple retires in Portugal. Am I missing something? Keep up the good work.

[@luisfilipe534]

Being a non resident in Canada, can i buy a house there?

[@victorbehar804]

It's not end NHR, end of story though. A different incentive program is part of the government's proposal to end NHR and might be more equitable. They are floating a 20% flat tax, for example.

[@j.obrien4990]

good glad to see their getting rid of the free loaders.

[@robrobchen2343]

the can move to spain Backhamlaw or Gibraltar..

[@dealman3312]

Thank you Andrew and Team you are so much appreciated! What is the future for Thailand? Could certain visa holders get the shaft?

[@quinntheeskimooutdoors6234]

😮thanks for the info😊

[@annabielica9069]

so should we not ask our selves: Why do we need the government? Think outside the box, the time of governments is over, they do not care about the people.

[@jackietreehorn069]

why do wealthy people call paying their fair share of taxes communist?

[@pinetworkminer8377]

Taking this recent change into account, would Greece be a much better option?

[@BodilessVoice]

Lol!

[@DS-vx3wf]

Citizenship based taxation is next for Western Europe! It shouldn't be a surprise to anyone if that happens.

[@falerw]

It's not going to happen though.

[@Cesar13M]

I think all portuguese citizens want a NHR for them too . Maybe if the government did that nobody had a complain .

[@BenjaminTrotter]

Unfortunately, doing the GV route for Portugal is about a 3 year waiting period since 2021.

[@Evansteven244]

Go figure I am going next year for three months…

[@fredericorodrigues834]

What are the best countries with programs like this? I'm Portuguese and need to move because taxes are so high

[@mattanderson6672]

Thank you Andrew!

[@nomadcapitalist]

Thanks for watching!

[@MrNoggin66]

'If you earn over a million dollars' FFS. Pay your taxes in America and stay there.

[@DavidPaulNewtonScott]

I love Portugal and just want to live there and become a citizen. I don't think it is right that they should tax my modest UK pensions.

[@utube7917]

When you back an animal into a corner with no other choices, they will fight

[@varmastiko2908]

But human beings won't

[@utube7917]

@@varmastiko2908 you don't know human history or current events lmao

[@varmastiko2908]

@@utube7917It would seem I am not the one lacking such knowledge. Perhaps you have bought the official story peddled by the propagandists? In reality there was never any real uprising.

[@utube7917]

@varmastiko2908 I could name many revolutions over thousands of years that overthrew tyranny, not to mention the crusades that were in response to Muslim's failed attempted genocide of Christians, but most obvious of all is all the people who arm themselves and defend themselves from every day criminals and terrorists, much less government tyranny. When backed into a corner, humans will be divided by the sheep, the wolves and the sheepdogs. I see this on a daily basis and am paid for it. Go back to your books and learn something. All evidence has shown that mankind will suffer evils while evils are sufferable, but when there is a long train of abuses and usurpations pursuing invariably the same object evincing a design of absolute despotism, it is their right and their duty to throw off such tyranny and establish new guards for their future security.

[@froufou100]

Did you know that HMRC is talking of introducing tax on the UK ISA accounts - nobody wants the plebs to live well

[@abeonthehill166]

I agree……..if you research the investments of the people who make the “ tax rules and regulations” you can always emulate where they put their cash !

[@liquid_metal]

That was on the back of a tax reform consultancy and I don't think will ever pass. More likely they will reduce the limit to say £15k or £10k. Or cap ISAs so anyone who has more than £500k pays their usual income tax on the interest or gains. I genuinely think that is likely where increasingly people are using ISAs - especially stocks and shares ISAs - instead of pensions. It provides more control, you can withdraw when you want and move money as you please. Governments do not like the serfs having control, so they will make changes to force people back into investing in pensions or making it appear that is the better financial product.

[@vinlago]

They're all going to become unfriendly. It's called PILLAR 2.

[@vinlago]

@@polupopus5836 the specifics, as you see, are malleable. Taxes in the USA were only supposed to apply to businesses. We see how that went.

[@miguelbarradas9858]

That’s ridiculous, we have teachers and normal citizens, living on the car’s because, the rent and the housing went up 90 per cent up

[@tangodaze]

That document states that NHR will end after 2024. My understanding has been, after 2023... Were there updates to the timetable I missed? I have been planning on moving over in a year. Will I still make it?

[@tomsmith5584]

It should be noted that the Portuguese Communist Party has only 6 seats in the Portuguese Assembly of the Republic and doesn't have the power to influence policy with the ruling center-left Socialist Party, which has an absolute majority of 120 seats. In 2021, they were in an informal coalition with the Socailists and the Left Bloc, but parliament was dissolved and new elections were called when they refused to support the budget. This resulted in the Communists going from 12 seats to 6 and the Left Bloc going from 19 seats to 5 while far right and anti-immigrant Chega went from 1 seat to 12.

[@Snakebloke]

I honestly feel at this point like Western Europe is just over now. Singapore too, the boat has left the port for them. I've been seriously considering Vietnam recently - but of course, you can't get a passport there as far as I know. It's such a shame Switzerland seems to have been slowly enveloped into the collective Leftist bosom of the E.U.

[@pinetworkminer8377]

What happened to Singapore?

[@bluesteelbass]

@@pinetworkminer8377 $80k for a 10-year "license" to own a car for one.

[@luisbarbosa8136]

what happen to switzerland?

[@liquid_metal]

@@polupopus5836 Yes, let's buy a VW Polo for the wife at $30k and pay $80k ownership tax. Great deal.

[@ExtraordinaryLiving]

@@polupopus5836 Vietnam is still a Communist country!

[@jamalgreen3056]

This is a sign for people to act now because what will the residency permits and tax incentives be for different countries 10 years from now I’m not saying it will be worser nor am I saying the others will make a move like Portugal but it most certainly will have sone changes

[@MVProfits]

Of course, but Portugal does it as wealthy foreigners have taken so much of the place, locals are driven out since their cost of living becomes too high. People vote... What one needs to is find a place with similar benefits BEFORE it goes mainstream. That gives you a least 10 years, Of course, it's no guarantee but it improves the odds.

[@jamalgreen3056]

@@MVProfits well foreigners are moving in heavily into Thailand Indonesia the Philippines why aren’t there locals fleeing from their u wanna know why because they put there citizens first Asian countries are for Americans and other foreigners of course just like Vietnam but they out there citizens first in a more innovative world we can all live in harmony with one another but sone countries are able to figure out how to do it successfully while others aren’t able to figure it out

[@The_Love_Doctor_Sean]

Portugal issue with housing has nothing to do with foreigners for the most part. The issue has to do with the citizens of Portugal. Period. The NHR play a little role but people and especially the people and government are looking to place blame on those which have been coming to Portugal to provide value. SMH. The world is having issues with Housing Period.

[@Henurisongs]

clueless

[@rullangaar]

How does this affect me as a citizen of another EU-country if I want to move there for tax reasons? I don’t need a visa but how will I be taxed?

[@liquid_metal]

As a foreigner. There is a distinction between being an EU citizen, which is not a country, and resident of a country, like Spain where after enough time you are tax resident as well.

[@lroberts3329]

I've been here three years on and off, beautiful country but I have seen massive changes, the locals, especially in Lisbon don't really seem very welcoming anymore and they are extremely rude to Brazilians, they are friendly to me because I'm British, it's which almost like they are nice when think you have money, which is sad to witness. Croatia is beautiful and has a great visa now. That being said when I've met portugese people in the UK they are super nice... maybe it really is the low salaries here that make them behave this way.

[@ruinunes8251]

Low salaries, sky high prices for housing just to name 2 of them

[@ruinunes8251]

@@katieNgg-tj8lj If "The Portuguese were moaning and complaining about poverty and lack of opportunities long before the golden visa or NHR programs" so imagine now how happy they are with all the living cost at the moment with miserable salaries. At some point it takes a toll on you, don't you agree?

[@bilie9117]

You have no idea what you are talking about. First, brazilians come to Portugal thinking they are still in Brazil. That’s the problem! Different cultures, different rules, respect or LEAVE! And yes, third world countries people are making Portugal as a third would country. Btw, you said you’re british, who are you to say portuguese people are not welcoming? 😂

[@user-qo6lk5ec9f]

I thank you so much.

[@necksquad3222]

What about the US-Portugal tax treaty? Would US citizens benefit from the tax treaty if they live in Portugal year round but all their source income is from the US?

[@necksquad3222]

@@Zummbot Yeah, I looked up the treaty and it looks like all it does is prevent double taxation.

[@minostro]

Look at the France - US tax treaty 😊

[@necksquad3222]

@@minostro I'll try and take a look. What's special about it?

[@as-1982]

@@minostro What about it? Is it much better?

[@Bzzzz372]

Yes , it does prevent double taxation. I have been living in Portugal for 7years now.

[@ApenasUmSenhor]

in what sense is it not justice to have everybody who lives in portugal pay the same taxes? I really don't have to be a leftie to understand that it does make perfect sense. I also don't think portugal has benefitted much from the retirees that make up at least a large portion of those using the NHR. Yes, there was increased consumption for the wealthy, at the cost of rising prices hitting the poorest. In my view, tax incentives should only be given to people who create value, i.e. contribute to strengthening the productive force of the country by setting up enterprises and taking entrepreneurial risks.

[@Tee55118]

Taxes can be fair or simple; but, not both.

[@user-vb1lw4js4q]

Estes gajos querem vir para Portugal para viverem às custas dos Portugueses que pagam impostos. É vergonhoso, parecem predadores!! Querem educação gratuita e serviços de saúde pelos quais pagariam dezenas de milhares nos EUA.

[@ApenasUmSenhor]

@@polupopus5836 but you're here on the channel for some reason.. I don't perceive the portuguese as complaining about fairness and not taking action. I live in the countryside and people here are relaxed, friendly, and modest. Admittedly, this will not put them on a top rank for business competitiveness and innovation.

[@liquid_metal]

@@ApenasUmSenhor the Portuguese are very nice people and some of my favourite places on the planet are Portuguese, but what the other comment says is spot on. The moaning is increasing, but justifiably so with increasing socioeconomic problems. Much of southern Europe is hardcore lefty/socialist. The only thing I think should not have happened is allowing resi property to be part of the Golden Visa programme. That was the catalyst for more recent aggressive changes to taxing foreigners, where the locals were - justifiably - p*ssed at the ever increasing cost of ownership or renting. The government had to "act". Rents in Lisbon increased 32% last year; the Airbnb racket there is so vile I refuse to go there anymore, paying €700+ a week for some shoddy apartment that has the classic latino furniture: a rack with no hangars. I can only imagine what it's like for nationals who are mostly on low salaries, even where they are signing up for long term accommodation. As for running a business in Portugal, I could not think of anything worse. Too much bureaucracy, a foreign language, and - like Spain - if it involves paperwork it is 100% guaranteed to be a total f up at some point in the process. Entrepreneurs know this. So what could Portugal offer them? Lower income taxes. A much higher disposable income is then spent in Portugal, which makes up for any tax "shortfall" and boosts the economy. But that is now going, so the Portuguese economy is unlikely to strengthen next 5-10 years, where it could have been a mecca for those in tech.

[@ApenasUmSenhor]

@@liquid_metal portugal depends on subsidies from the rest of europe for a large portion of its budget, and beyond that a lot of portuguese still earn their living abroad, bringing money back. Portugal is simply not a place for a highly competitive economy, and it will never be. The type of economy that once made europe strong was blue collar production and engineering in the northern countries. That is the only tech that matters, and that is fading away quickly and will not come back, with detrimental consequences. Brace yourselves for a very hard landing, ladies and gentlemen. Every party comes to an end.

[@gavnonadoroge3092]

is there any way to reverse this trend?

[@Anonymous20251]

Unfortunately also in Italy they are in the process of changing the expat regime 😢

[@saveamericalive287]

Does this apply to the Azores?

[@motovlogjoni]

And thailand doing the same next year. Was "tax free" for the money earned on the previous tax year.. but next year will tax anyone bringing foreign income and living here half year as a normal thai personal tax rates. From 0 to 35%. Not many countries have double tax agreement.. Plus the elite visa just got prices raised

[@StefanJaeger66]

make a big bow around all Europe or you end in ECO socialist reality. Just inform yourself about the new EU driver regulations that they like to implement you get a lot of fun with 60 years age and above. EU wealth register, your accounts, Crypto, Jewellery, precious metals, art, old timer cars and so on.

[@rogerdiogo6893]

In a age of austerity, rising taxes were predicted long time ago😢😢😢 3:37

[@FreshGuava161]

Is it me or the world is getting increasingly locked up. Taxes are getting higher and higher for residents, and more and more countries are making it harder for non nationals to get in. Not that it's a bad or a good thing. Just saying

[@der.Void.]

I applied for the D7 visa this year and it was a bit disheartening to hear that they are ending NHR, especially considering I applied for the visa before they announced this. I am currently in the process of waiting for my D7 to be approved and not really sure if I will even be able to get NHR.

[@HowsDaJello]

If you have proof that you started the visa process prior to it ending, then you can still get in until March 2024.

[@der.Void.]

Yeah I found out recently about it, already applied

[@brunoheggli2888]

Has this guy somthing others in hes head then just about thinking how to avoid to pay taxes?What a sad life!

[@nueiart1077]

Hey hey, Portuguese here! Sorry things got this way and people can no longer choose to live here as they would! But please understand that this issue is complex and not easily solvable by screaming "racism" and accusing us of having a politically diverse government (I highly dislike the Communist party specifically, but it's better to have them represent the people with that voting intention in Portugal than having a 2 party political system that kills off any independent candidate) that makes it hard for any one-sided decision to be approved. Therefore, most parties agreed to what the left said for it to pass! Portugal has a super low birth rate because the government has made it impossible for the youth to even live here in the country, much less have kids, so to pay for retirement and the public system, they decided to import people, to replace the highly educated students that left. And not just fancy digital nomads, but A LOOOOOT of mid and low-income Brazilians (try going to Braga, half the population there is now Brazilian, something that changed in 5 years!). So instead of making it easier for people to have kids, they made it SO MUCH WORSE. Not only importing too many people but (as you said), but building too little, making it a 4-5 year long process to rehabilitate an old house, letting Air-BnBs go rampant, let market speculation go wild, and allowing foreign investors like Blackstone to damage our markets as well. This is a crisis that is affecting literally every first-world country nowadays (this is verifiable by a simple Google or KZbin search), so can Portugal reeeeally be blamed for taking some measures, however insufficient they might be? Minimum wage here is around 750 euros, rents start at 500... I'm not expecting these measures to completely fix anything, much less our politician's addiction to spending money irresponsibly in stupid submarines or airplanes, and I'm sorry for all the people who just wanted a peaceful place to live, but I think we're very overpopulated right now, and these measures may help a little. Are they enough? Not at all. But a real estate collapse and some relief on the buyer's side is going to help many millennials finally have families in the next years!

[@chezbonbon5362]

You can't run from it eventually, no matter where you go. It's just a matter of time. The good old days are gone.

[@mikemurphy7519]

An important note, anyone considering Portugal will NEVER want to get citizenship because from that day forward you will pay tax on worldwide income for life, and the taxes in Portugal are insane.

[@gall6336]

Not true. Portugal does not have citizen based taxation like the USA does. If you live in Portugal over 6 months a year you become tax resident. If you dont you do not pay tax to Portugal even with a Portugues.passport

[@mikemurphy7519]

@@gall6336 If you are a tax resident of Portugal, you must pay taxes on worldwide income. If you leave Portugal and live in another country, any income from Portugal like rental income or capital gains from the sale of a home is taxable in Portugal no matter where you live. Being a tax resident in Portugal without NHR is financial suicide if you have an income of 50K or more. With the end of NHR, nobody with any sense will stay here and nobody new will come unless their only income is social payments. This is the first step in putting Portugal back in the 2008 financial status and when that happens, the left will once again get elected and reinstate NHR, but that won't be for another 5 years or more. The property market is in the beginning stages of a huge collapse and now the elimination of any financial incentive to move to Portugal has made Portugal once again on the fringe of being a third-world country once again. There is a reason Portugal is one of the poorest countries in the EU and from the looks of it, it always will be.

[@JanH80-pm5bw]

Great video!

[@nomadcapitalist]

Thanks!

[@antoniobrasse7157]

If I have a D7 visa, can I switch to Golden visa where I only have to be in country 7 days a year to get citizenship?

[@theunimpressed]

PM Costa resigned and there are new elections in March 2024. So at least there is more time to enter.

[@truusjenskens8485]

For 500.000 euro you can buy a EU-passport on Malta....what are you waiting for?

[@cafo13]

Leave. Go home. No need for you what Portugal needs is to attracts companies and innovation not digital nomads to serve. There is albor of talent created in Portugal both in applied engineering and sciences that need to emigrate because there aren’t enough jobs requiring these skills, we don’t need foreigners for those jobs we need the companies. When Portuguese emigrate they pay their due taxes in full as nationals in those countries do. It’s a scandal what the government did. The environment is heavier by the day in Portugal in regards to foreigners who get Portuguese homes and push Nationals to periferias or no home at all. It’s going to burst in the streets sooner rather than later if it isn’t reverted now.

[@Cloud420l]

Do you have any legit remote jobs ?

[@nomadcapitalist]

www.nomadcapitalist.com/careers

[@jarnMod]

I just don't care much about Europe, but for people who cares, this is a lost

[@MrMaximino92]

We are happy that you don’t care and stay away.

[@Muhayyo666]

As an afghan , you should take back what you said . Be grateful, man

[@miguelbarradas9858]

Portugal as to many people coming to such a small country, I don’t want Portugal 🇵🇹 to became a new Costa Rica 🇨🇷, it’s Al ready 👎👎

[@wcoastwilderman]

We went to Portugal for 3 weeks this summer. Beautiful country BUT I have never been anywhere where locals were more indifferent and borderline unfriendly and I’ve been to many countries including muslin countries. Barely saw a single Portuguese person smile, never mind speak to us or ask a single question. Maybe we were mistaken for Americans. But unfriendly is the vibe.

[@pinetworkminer8377]

Even more unfriendly than the Spaniards?

[@ruinunes8251]

Life is tough right now. Everything is so expensive starting with housing. Many locals also have a perception that the housing cost crisis is something to do with the expats flocking into the country. They are not realising that the issue is way broader than the expats.

[@pinetworkminer8377]

@@ruinunes8251 At least the Portuguese have the option of moving to Brazil..

[@patricebaumel]

‘Even muslim countries’? These are widely regarded as some of the most hospitable places on earth.

[@ruinunes8251]

@@pinetworkminer8377 Why don’t you move to Brazil then? Why should the Portuguese move to Brasil? To free up more space to foreigners?

[@michaelogrady1002]

If you choose to live in a couhtry and benifit from the privileges it brings along with the citizens of that country paying taxes to help fund that government's services would be an obligation most people would accept.

[@michaelogrady1002]

@@richardbrown9344 Maybe your right meanwhile to quote Leona Helmsley only the little people pay taxes .

[@pures1n]

Horse shit. You earn 50k USD/EURO a year, you pay 45% TAX, and 23% VAT on top everything you buy. In Portugal of course. A country highly reliant on foreign money. Let's be real. Portugal does not have any natural resources other then good weather for people to escape from, which MANY other countries have just as good, if not better weather (during the winter months I'm talking). They are taking what they have now for granted, 100%.

[@intellectualgladiata]

@@michaelogrady1002, the reality is that the little people pay no taxes. Most people here are sick of being milked for half of what we earn while wastrels pay nothing.

[@ApenasUmSenhor]

@@richardbrown9344 by that "logic", no one will pay taxes anywhere. And everybody will be dug into a dark hole in the forest with an assortment of guns. Unfortunately, there is no alternative to having a government. And thus, fighting and voting for a good one.

[@michaelogrady1002]

@@intellectualgladiata Just checked the Federal tax rates, an American worker earning between $11,000 and $44,500 pays 12% in taxes.According to OECD data the average American pays 24% tax on their income slightly below thd OECD average. In the advanced social economies of Scandinavia taxes are higher to pay for social services so it seems the little people do pay taxes

[@goncaloaraujo6644]

Tbf we arent growing bc of our government and the housing crisis is also bc of of our government. Mass imigration from 3rd world countries and not building houses made us like this, too many people want a house but there are few houses. Its not the golden visa or the NHR that are problem...

[@kennethflores-hv7uf]

Well you could always move to Bangladesh 🤷‍♂️

[@4nt4r4y]

@@polupopus5836could you list some more?

[@keithss67]

Nice country to visit.

[@pedrosoaresmendes]

The true its that the foreign really had impact on our habitation problem. The right wing also dont like foreign to come if that breaks our poor economy. You can just make a search on youtube do see how much houses were bought by them and they are not to permanent residence. The problem is that you only came to Portugal because of that low fees and low prices and now we, the portuguese, are paying the costs of that stupid and unfair rule. We born here, we allways were here on the bad times and help make the turn and now you want to benefit with that efort at low taxes. Unfair

[@MrNoggin66]

Rich Americans should stay in America. Isn't America the greatest nation in the world? Stop ruining the lives of poor people in other countries.

[@ricardolopes8945]

We we are, finally people who came here and said that socialism is so cool will get it why we are so unhappy with it. For years thanks to the socialist party fuelled by comunists we have been hitting records on taxes

[@habitalista]

go crypto, you will pay no taxes in Portugal

[@ISpitHotFiyaa]

Portugal's population peaked 15 years ago. So I doubt there's some overwhelming demand for housing. If they have a housing crisis then they should build some housing. And it's not like we're talking about the most sophisticated economy here. Building $500000 houses for American millionaires would put a lot of people to work and boost their GDP.

[@kikoempis]

That is true. Also true is that never before so much population is urban. There is plenty of available housing in the interior. Mostly ruins. But people don't want to live there because there are no jobs there. Another problem, apart from expats and much bigger that it, is tourism. Thousands of homes in the big cities (Lisbon and Porto mainly) have been converted in touristic rentals and airbnbs. Putting those houses out of the renting market, and pushing locals away from those areas. House and renting prices have skyrocketed more than doubleing over the past few years. Guess what didn't double? Salaries! Who affords those houses now? Foreigners, who keep on coming and keep the prices going up, for more 2nd homes and tourism rentals. New construction in the cities is difficult, due to lack of available space. The few there is, is being used to build luxury properties. New construction is as expensive as it has ever been, in part due to lack of manpower in the industry. Along with the market prices for plots, make new homes more expensive than the average portuguese person can afford to pay. This problem is way more complex than just expats coming in. It's a perfect storm all together.

[@Bzzzz372]

You said it, in general Portuguese have to think in terms of job creation. The only way to really make a difference.

[@robtriton]

Here comes WWIII.

[@klemenvadnjal3657]

Bye bye 😅🎉🎉🎉

[@bravenewworld6709]

Portugal has never been a friendly tax countries. I dont understand why foreigner have this stereotype about my country

[@kikoempis]

It has been for them. Not for the locals.

[@fserra5479]

O problema dos imigrantes é teremos que aturar pessoas como você. Você vota em portugal? então enfie a viola no saco e não critique o sistema politico portugues. Aqui podemos ter os partidos politicos que quisermos. Os eleitores é que escolhem quem querem, em democracia os mais votados são quem governa.

[@jorgegomez524]

We now just want favelados