Let's hope the Portuguese government replaces the NHR tax scheme with a new incentive. U.S. retirees often rely on their own investments for retirement (cuz the government retirement sux) and save up significant amounts. With the right tax incentives a lot of that money could move to Portugal and be invested in local communities.
@ourjourneyonpicoisland-car5529 ай бұрын
We are all hoping for any new incentives to be smart, not only for Gov't, expats but also the locals. I feel that there is positive change up ahead, need to think positive. Take care!
@Jetmab049 ай бұрын
Thanks very much for sharing this! Looking forward to hear more about the teal estate situation on the islands...
@ourjourneyonpicoisland-car5529 ай бұрын
Thank you for watching, glad you enjoyed it. Cheers.
@neoarmour9 ай бұрын
Thanks for the info. Currently in São Miguel and just applied for my cididania❤
@ourjourneyonpicoisland-car5529 ай бұрын
Congrats, hopefully you will be accepted soon. Enjoy Sao Miguel. Cheers
@DarrenJCrawford9 ай бұрын
So we have just over a month to buy a place. 😆 But seriously, that was a good incentive, but not one to dive into buying any property, still looking. On your last video there was no comments because when I tried to leave one it would give me an error, so that's what probably happened to everyone else.
@ourjourneyonpicoisland-car5529 ай бұрын
There are people that buy properties and won't become residents, therefore are unable to apply. To apply for NHR, you have to be a resident of Portugal, you can also rent...buying is not a must. Either way this program will most likely end, but the final vote has not happened yet. For more specific information on NHR, best to contact professional advisor. Take care Darren.
@scottmacconnell4709 ай бұрын
We need more information for retirees. It seems that the progressive tax rate applies to every form of pension and savings. Can Portugal tell the difference between a pension and a 401K for example?
@Pettson469 ай бұрын
I live in Sweden and have thought about moving to Portugal as a pensioner. Does this mean I have to pay tax on my pension in both Sweden and Portugal?
@ourjourneyonpicoisland-car5529 ай бұрын
Thank you for reaching out, and watching the video. This is not our expertise, best to contact a Portuguese tax professional. Regards.
@AndrewKitowski-gt8wo9 ай бұрын
Country with unstable tax policy is not place to invest. Lisbon is cover with graffiti and most housing need major fix up. This is not good future for investors.
@ourjourneyonpicoisland-car5529 ай бұрын
All I can say, is that there is no perfection anywhere. Out of 191 + countries; Portugal is still one of the best countries to visit, live and invest...in our opinion. Especially true now, with all that is happening in the world. Appreciate your comment. Cheers!
@ericyuan97189 ай бұрын
seems like this video was made just for me
@ourjourneyonpicoisland-car5529 ай бұрын
We're glad. Hopefully, it's helpful. Keep in mind that we also have a bonus NHR video tomorrow. Cheers
@zanita669 ай бұрын
Does the recent scandal involving the Prime Minister affect any of these changes?
@zepedro66669 ай бұрын
No. The 2024 State Budget was approved with all the measures including the end of NHR, which by the way was never designed to last forever and even if didn't was cancelled the program itself is temporarily as it only last 10 years. There another tax programs and visas to use for foreigners and my advise is to have a meeting with an official accountant listed in the National Accountant Order list (Ordem dos Técnicos Oficiais de Conta). I hopefully this helps
@ourjourneyonpicoisland-car5529 ай бұрын
From what we understand, they still need a final vote to finalize the end to this program. There are quite a lot up in the air, stay tuned for our bonus video tomorrow. Best to contact a professional tax advisor. Take care.
@jonathansargent62247 ай бұрын
I see a lot of the similar questions that people have about if your pension is taxed both in your home country and portugal. I have a state government pension from the United States. Do you have advice as far as how to find an Portuguese e tax person that could answer these questions?
@ourjourneyonpicoisland-car5527 ай бұрын
Questions about the pension and double tax are very popular. Unfortunately we really don't know much about this subject, you would need a Portuguese tax expert to fill you in. Here is a website the some expats I know have used. www.expatconsultportugal.com/ I hope this helps. Take care Jonathan.
@jonathansargent62247 ай бұрын
Thank you and you too!
@rlcarver9 ай бұрын
Too many changes made on a whim there now. Too old for that. Good luck.