The Portugal Dream is DEAD: Tax Breaks OVER!

Fresh Portugal is a leading law firm based in Lisbon with Portuguese, US and UK tax lawyers and they are are offering a “last minute tax residency” package:
freshportugal.com/book_servic...
The package is further explained in this article and KZbin video:
www.fresh-portugal.com/blog/c...
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Moving to Portugal Complete Guide:
www.daveinportugal.com
João Magalhães Ramalho's referenced article:
amp.expresso.pt/opiniao/2023-...
Portugal Tax Consultant:
www.fresh-portugal.com/
Calculate Taxes in Portugal Here:
mytaxes.pt/
Learn Portuguese through the best Online Master Class that I personally use myself : www.portuguesewithanita.com/a...

[@PeterMKooiman]

I'm Portuguese, I have a degree in business management. I work at a condo administration with 189 houses in the Algarve and I'm self employed doing taxes, websites and translations to make ends meet. At the condo there are 5 portuguese owners in the 189 houses. These houses real value is about 300k but are selling for over 500k. I saw a house get sold twice this year at 440k then at 540k. 50% of the properties are rented out. Some rent out for 2k a week (that's more than my wage). Not all declare their rental income (tax evasion). 15% are retirees. 15% holiday homes. 20% residents. I feel I am required to provide a service of excellence but the owners only want to pay me peanuts because this is Portugal and everything must be cheap! Most of us are staring to feel like we are 2nd class citizens in our own country while "foreign investment" takes it all. Things need to change, its not fair "expats" coming over, not really providing anything to the country besides inflating housing prices and benefiting from tax advantages. Just my 2 cents on the reality many natives are currently going though.

[@on2thenextthing]

This is happening in many countries. Canada is no exception. Lots of foreign investment, rich foreigners, definitely impacting housing affordability even though the government won't acknowledge it. All you have to do is look around to figure it out.

[@AnneAlready]

I feel for you. I often (but not always) see an ex-pat attitude that is utterly awful - "what can Portugal do for me?" Great communities are not built with people like this. I know nothing about the current politics in Portugal but I sincerely hope at voting time you get to choose a party or leader with YOUR (and fellow Portuguese) interests genuinely at heart.

[@Diogohenriquescaralho]

Bro. You gotta get out to a place with more opportunity. You deserve it

[@antoniopereira9094]

It is funny to read some expat comments saying that Portuguese workers need to be more qualified in order to get better payed. Most of the US citizens are an absolute ignorants about geography and other matters. Once, an American citizen asked a quiosk attendant, in a Portuguese airport, why the Brasilian people bought Portuguese newspapers considering that they spoke "Brasilian" and the newspapers were writen in Portuguese. 6:17

[@birdynumnum3473]

I understand your plight and sympathize with you. Portugal must somehow afford to raise the standard of living for its people. In the USA many cities have the lower income people priced out of their homes to corporations who buy it up, build new high income housing and to Hell with the poor folks. It is called “gentrification” here but I call it irresponsible. As for foreigners not providing for Portugal, not true. They spend money and help the economy as some of these funds go into the pocket of its citizens, but at a price. Reagonomics from the 1980’s and we called it the Trickle-Down Theory. The wealthy throw scraps to the rest of us and we are told it is good for us. Ha. I call them old school Republicans. Anyway you make some valid points but remember some of us come there because it is getting too expensive to stay here in the USA.😳

[@josephrego2527]

Let's make Portugal a Great country for Portuguese people. Portugal's greatest natural resource is its people. They are the long-suffering citizens of a country that has taken them for granted. Millions of Portuguese have left Portugal over the past 70 years because they couldn't make a living in Portugal. Foreigners, no matter how much money they have, should be treated no differently than the average Portuguese citizen. Paying their fair of taxes is the least they can do.

[@ivanbarbosa81]

I would say let's make Portugal great for everyone who wants to contribute

[@erdnasiul87]

@@ivanbarbosa81 you want to contribute? pay taxes too and don't be a leech.

[@rey_nemaattori]

​@@Jacob-tp3sw That depends on your income. If you earn 10-15 times as much as a local, you should pay 10-15 much as a local.

[@tails1381]

@@Jacob-tp3sw Looks like i care?! Portugal is for portuguese people, special taxes?! I would love to know your math too, where u found the 100k, where u found 10-15 locals... most of them just come because is cheaper for them, but turns expensive to locals... Most of them dont create business here, just live here because is cheaper... simple math! About taxes, explain me how u got 100k in taxes... do u know the contidions they actually have?! Should locals be second class citizens in own country?! Should foreigns use all our good conditions by "free"?! NO!!!

[@godamnfunky]

Love the celebration of the sacrifices noble people and all , but you realized Portuguese people ruled themselves democratically into this mess. Nobody forced our hand, mate

[@JoaoSilvaWrites]

Hi Dave! Young Portuguese guy here. I was one of those who left the country in 2016 in search of better opportunities. Surely enough, I found them. I'm being valued for my skills, and for my work ethic, and compensated fairly for it. I've been receiving pay raises every year and if I were to return to Portugal right now, even with my skills and experience, I expect I'd have to take a 50% pay cut at the very least, likely more. Portugal is an amazing country and I miss it dearly, but the country has never loved me back. You were saying even a salary of $30,000 would be taxed at 37%, hinting at how low a salary it is from a global perspective. Well, in Portugal, the average wage is $1,000/month, or $12,000/year, so $30,000 is nearly triple the average wage in the country. If you can work for a foreign company and live in Portugal, life is great. If you get paid by a Portuguese company, your quality of life suffers tremendously. The problem is still the same as it was when I left: extremely low salaries in proportion to the cost of everything. Companies and employers love to complain about the lack of productivity and competitiveness in the economy and use that as an excuse not to raise salaries, but if they were to raise salaries, they'd prevent their brightest minds from leaving, which would actually give the country a chance at BECOMING competitive, efficient and productive. Those in charge don't care about young Portuguese people, which is evident in the recent tax breaks given to foreigners. I love watching your videos and I can tell you genuinely love the country, so I hope you don't leave, but I'm sorry to say this tax hike is long overdue, lest young Portuguese people become second-tier citizens in their own country or continue to be forced to be immigrants elsewhere.

[@yogisurfrunner1925]

Good for you sir!! Never never never stop valuing yourself & what you know you are worth = ) You seem extremely bright & on the right path. I spent 30+ yrs in corp America w/a very successful career - your note leaves me wondering: How exactly does taxing a retiree immigrant who follows the laws and comes to your country legally help to change any of the problems you outlined though?

[@DaveinPortugal]

Thank you for this comment and perspective 🙏🏻

[@maryr7593]

Since Dave has been in the country for 2 yrs, that means he has 8 yrs left on his NHR tax status. It's the folks who had planned on arriving to PT in 2024 who are on the edge of their seats....not knowing if they will still go to PT at all.

[@luisfilipe534]

Triste ler o teu relato João. De facto este país só desperdiça talento. Infelizmente está a trocar isso por gente que vem para cá apenas para especular o valor das casas, muitas vezes apenas fazem isso de país para país, tornando impossível para quem é jovem comprar casa, e para os imigrantes, caso um dia voltem para comprar casa. Muitos são os exemplos de quem comenta estes vídeos.

[@mottahead6464]

I met an old Portuguese guy in Canada who told me a joke that goes like : as putas em Portugal estavam a reclamar. Homens portugueses : fodem bem ....mas pagam mal. Just a joke from a lovely guy. Yet this question popped into my mind : is it a coincidence that wages in Brazil are also so low? Peace.

[@josephrego2527]

When you live in a foreign country you should be paying taxes to help pay for the services offered by that country.

[@pures1n]

easy to say, hard to implement. most people are moving countries due to incentives of that country. your country has to have an offer to bring money and talent there. otherwise they'll go where they're treated best. for example: you could be a dubai tax resident, pay 0 tax, it only requires 3 months of the year, and then visit EU for the remainder of the 9 months. 5 months Portugal, 4 months Spain for example, and pay NOTHING in taxes.

[@imeandmyself525]

Are you a fan of Nomad Capitalist ? "Go where you are treated best"😂 And an US citizen can not be/visit EU longer than 90 days.

[@pures1n]

@@imeandmyself525 You can with a golden visa.

[@mikeh2426]

@@pures1nAre you a surfer? 🏄🏻‍♂️ 😂

[@j.heilig7239]

The world just isn’t that simple. NHR was implemented for a very good reason, and NHR is not the root cause of the housing crisis in Portugal.

[@mibrito4]

Cost of labor is the reason why our family emigrated out of Portugal. It stings seeing rich foreigners moving in with incentives that arent available to the locals. Don't let the door hit you on the way out

[@maryr7593]

You realize that the NHR was originally created for the Portuguese who had been out of the country for 5 yrs...to encourage them to return home living on income made abroad. It would be interesting to see the stats of how many Portuguese took advantage of the NHR.

[@luisfilipe534]

E especulando o preço das casas num país para onde, eventualmente, tu poderás querer regressar um dia.

[@periscope7731]

Universal Healthcare isn’t paid for out of Aladdin’s Lamp. Do you want to continue to receive working city infrastructure, a safe environment free from crime, and police protection? Then MFs, you need to pay your burden of the tax bill‼️

[@mibrito4]

@periscope7731 I get that where I live now plus earn 10x's more. High tax rate + low wages=highest emigration rate in Europe. This tax incentive was designed to help bring some folks back

[@OnyHipHopMusic]

@@maryr7593 NHR was not created for the Portuguese , Programa Regressar was created for the Portuguese and Portuguese decendents , since if you are not one you cannot acess it. NHR was created for the sole purpose of letting Portugal create a loophole to convince money from outside to come and stay. NHR is actually used to convince footballers to come play at our National League clubs. If you are getting the wages of a professional footballer , its good to have a way to only pay almost nothing of that as taxes , since you are coming back to Portugal to spend that money ( Di Maria is the more recent example)

[@jonathangat4765]

I live in Uruguay. I don't think I will stay here forever but that's another story. The question needs to be, are you moving for a tax break or are you moving for a lifestyle and other issues?

[@EngenheirUber]

Almost all richs made their fortunes avoiding taxes, it's happen all over the world. They are always trying to evade the taxes.

[@vorong2ru]

It's not about avoiding taxes. Noone would move to a nice country for lifestyle if they had to give 50% of their salary in taxes. Noone. This is just demotivating. Considering Portugal is very corrupt and it is the country where the infructructure is collapsing and those taxes aren't actually being used properly to improve the living.

[@anateresa8097]

If you want to live here, you should contribute as much as any portuguese since you are allowed the same benefits. No favoritism.

[@kjkj4725]

As much as that’s true - still expats tend to have big salaries, even when they have lower taxes than locals - they likely contribute more to the budget. It’s tricky and it was likely the whole point on these discounts in the first place - to attract expats with higher salaries from abroad… And get share of their incomes from other countries.

[@oliverschindler]

Pretty shortsighted - will hurt the country massively

[@vorong2ru]

Foreigners will create more modern jobs for locals, if you start to push for those insane taxes- they will just leave. You should have pushed on Portuguese government to lower taxes for everyone, not to kick the foreigners out.

[@Ibetala]

I agree with you on that one.

[@stealthwarrior5768]

​@vorong2ru no they don't add much to the Portuguese economy

[@tacodias]

This is hilarious! Foreigners were having a discount living and now they’re leaving, which reveal that their main priority were the taxes and not the country….

[@BigFishbone1]

If country would pay compete salaries in comparison to other Europe, the foreigners woun't have taxes as main priority.

[@piberman]

The British have been in Portugal for decades, mainly in the Algarve. The overwhelming majority never learned the language. Try this in Spain

[@tacodias]

@@piberman fact

[@AAT305]

What's wrong with that

[@SynergyOfTwo]

The change hasn't even happened yet, as Dave stated in this video and his previous video 1) only 10% of expats actually stay permanently 2) very few expats actually have/qualified for NHR

[@pedroalves5634]

Avoiding taxes is not the proper motivation to move to Portugal. Part of the way of keeping portuguese talent in the country is making life affordable, and that includes making houses available again. Try imagining living in Portugal your whole life with the minimum wage. That would be a totally diferent country from the one you are experiencing. Benefits for the rich have never benefited the poor. The trickle down effect is a big lie that just creates even more inequality.

[@godamnfunky]

You just explained it the way I wish I could.

[@Diogohenriquescaralho]

Just for you info tho, millionaires who are in the NHR taxed at 20% pay more than 100 Portuguese citizens on average in taxes.

[@tomastex7399]

If you wana lower down the housing prices, why not build more homes? 20 years ago a lot more homes were being built. Portuguese people cant either compete with a rich immigrant or 20 poor ones in search for a home. In regards to taxes and wages, it amazes me how we always end up having to pay more in order to get less. Less working hospitals and schools, slower justice... Taxes already eat up almost 37% of our entire gdp (one of the biggest rates in OECD), and we still fail to provide good services with all this money. Its a shame that most people are still driven by envy and think that all of this is cause some foreigners pay low taxes, and not cause everyone else pays a lot :(

[@luisfilipe534]

Nem mais Pedro!

[@godamnfunky]

@@tomastex7399 Well, what you say is pretty indisputable. trying to answer for argument´s sake: Construction lobbies and price per sq metre of land makes it impossible to build. Outdated laws regarding land construction rights (PDMs) and especially laws that allow people, companies and funds to buy up properties and use it as speculation game, make this a very big mess. We have to decide as a society if habitational rights are above commercial ones. Because Housing was right and a need , now its a market. Public housing can´t exist the way it did in the 60´s and 70´s because of market laws. Don´t forget that ex ministers end up working in administration boards for the cement and energy sectors, so we should manage our expectations by that. MAybe we as a society should have a higher standard when it comes to corruption and voluntary ineficiency .

[@brunosimoes1154]

No worries Dave, Portugal Dream is still alive and healty, we the portugueses that need to immigrate because of that taxes will fill that positions that (you) are leaving behind. I live in uk for 13 years and I dont care about nhr. (I want go back home) I pay here all the taxes and the same as a local. Most young portugueses immigrate what about them? they are not important?? I dont want you or anyone to go, but I dont want is the portugueses to immigrate because of taxes benefits that only help a few. Fair society for all, no matter where they are from or nationality.

[@Jorge.1419]

Mais nada. Abraço

[@ArrozMisto]

Nem mais. Temos de fazer o nosso país um sitio bom para os nosso filhos.

[@chinesecrested9528]

I agree. I am an American with a home in Thailand. My wife and I purchased a home in Central Portugal. The thought that some pay taxes and others don't creates a great deal of conflict within the local communities. We all want low taxes, but the reality is that governments are for everyone(in a perfect world) and all should bear the burden. Those who want to bail on Portugal should calculate the "Opportunity costs" of relocating before hand. Portugal is a wonderful country with great people. I know this as I have been able to travel a bit

[@Krazie-Ivan]

@@chinesecrested9528 ...as another american, i also agree. sucks that my govt still taxes me at the normal rate if i leave, a double tax, but that is not the fault of the Portuguese people. moving to PT is still a long way off, but paying a fair share into the PT system is the last thing to dissuade me. very sad to see so many immigrants put this issue above everything else PT has to offer.

[@benchoflemons398]

You do realize the United Kingdom has a similar special tax regime?

[@ThisWontFly]

One thing about "Double Taxation" you mention at the beginning of the video: this is really something that applies almost exclusively to US-nationals, as the US Tax Office taxes its citizens regardless of their place of residence. This is in contrast to the model followed almost everywhere else, where you become a tax subject based on your place of primary residence. If a French citizen were to move to Brazil and become a fiscal resident there, the French Tax Office would have no interest whatsoever in them and they would pay tax to the Brazilian Tax Office (unless said person had businesses in their name turning a profit in France, but this complicates our case). The US Tax Office wanting to keep tabs on its citizens regardless on where they are in the world also makes it more difficult for them to open bank accounts abroad, because banks would need to report back to the US Government, even though they are not operating in the US (the lever the US uses to enforce this is making business for foreign financial institutions difficult if they want to operate in the US if they don't comply). Therefore many banks decide that a US-citizen is not worth their trouble and turn them away.

[@yogisurfrunner1925]

We are US citizens & have been evaluating central & southern Europe as retirement destinations for the last 5 yrs, calculating costs, pros/cons, cultural climates, literal climates, political & economic stability ~ all the things. You are 100% on the money here. Still, the final ruling on the NHR which favors digital nomads and disfavors wealthy retirees who may actually be looking to purchase & potentially restore properties and invest in a local area is so short-sighted we’ve found it mind-numbing. And the other comments from people saying ‘we dont need more people’ blow me away too - I am in Texas on the Southern US border where 1000s of ILLEGAL immigrants flow in annually but would never spew hate at them. Its so disheartening to think that is what the youth of today has become.

[@maryr7593]

US citizen is also obligated to report said bank acct abroad on their taxes. No issues with opening accts n PT as long as you have the time....and proper documentation.

[@merryfergie]

​@yogisurfrunner1925 the actions of the youth are a direct result of the culture that raised them. Mirror, mirror on the the wall....

[@yogisurfrunner1925]

@@merryfergie so right you are

[@cristinagouveia7335]

@@yogisurfrunner1925 we also have thousands of illegal immigrants. Europe is having that problem for years.

[@greggschroeder]

I visited Portugal with my Portuguese partner in 2009 and 2018 - and even as a visitor, I was aware second time 'round of the massive impact inflation and the proliferation of short-term rentals in Lisbon had on neighborhoods. Families who had lived in Alfama, Baixa, Chiado and other old (and uber-charming) neighborhoods for decades had been priced out to the hinterlands. Those now-upmarket neighborhoods had lost not only their residents and their local charm, but their soul. I'm sure the impact of this tax change will be huge on those affected once again. Things do need to be affordable for locals, and also such that young people are not only enticed but financial able to stay in their home country if they so choose. We still want to move to PT eventually, but it won't be as easy down the road, it seems.

[@snakerooni]

I can tell you that in my town when I go out I barely see any Portuguese people anymore... even at work I've been speaking English more often than Portuguese... I manage a little restaurant/bar and our prices look super cheap for tourists but for our local working class citizens is getting a bit high... I looked up for a house my family could afford but said houses are very far away and in most cases are even needing massive renovations that could almost double the price... just in my street in the last 2 years, 3 places became hostels and the rest of the buildings for a non-exagerated number, 90% of them are rented or bought by foreign people at overpriced rates... the old folks in my building pay normal rents for their appartments but new comers are being asked for 2000€ up to 3000€ per month. We got people earning minimum wage having to give half of their salaries for a simple room or to make it worse, there are families who have jobs that are currently living in tents on the streets. Lisbon and its surrounding towns already lost their identity due to lack of actual Portuguese living in them. Soon it will be like the 80s and early 90s with slums being built and crime rates increasing.

[@carlosleonelsantos]

​@@snakerooniconcordo totalmente.

[@craftbrewer4032]

The math doesn't support the theory. Are you saying all of the recipients of the NHR have purchased property in the old neighborhoods of Lisbon and turned them into short term rentals? Or are they the ones looking to rent short term and therefore have created the market for the short term rentals, and in doing so have ruined Lisbon for locals? If you're applying for the NHR it's to be a resident, how is that "short term"? Even if you were going to spend the minimum time required to be a "resident" you'd be here months not days. Airbnb's generally rent by the day for maximum profit. So how do these two things connect, the NHR and the housing problem? So by that thinking when the NHR is up the problem is solved? Not by a long shot, it'll have zero impact on Lisbon and Porto's local housing issues. I agree it's a problem and needs a solution fast. I was in Alfama last April and noticed a big change since the last time there in 2018. Everyone will be disappointed when the NHR goes away and nothing changes except a ton of disposable income isn't spent in the very mom and pop shops and cafes we all want to see survive and flourish

[@erdnasiul87]

@@craftbrewer4032 sure dude... NHR recipients didn't buy property on the old neighborhoods but some how they support local shops. Talking about math... Do they came all the way from the UK just to buy onions everyday? Amazing!

[@leonelduarte1822]

No Londoner lives in Kensington why Portuguese should live in Chiado, unless you are really e wealthy. I just sold my 60 sqm open space flat to a French retiree at Principe Real, after being owning it for 20 years. No Portuguese could afford the price of square meter on Portuguese salary… just like in Paris or any other city. People have to look for spaces outside Lisbon… the problem is that Portuguese authorities did not invest in more housing controlled priced, and …. Because of the terrible years of 2012-13 contractors were forced on banckrupcy because the state did not pay in time and they missed their bank loans. This is very complex problems, that’s why I am against saying that foreigns are the root cause of this issue. It’s not!!!! It’s policy!!!!

[@mafaldacosta3364]

I´m portuguese, lived here all my life and i pay taxes for everything! My income is ridiculously low but working with "recibos verdes" we´re treated like scum, trash, basically.

[@HelderP1337]

​@@katieNgg-tj8ljthe Portuguese only complains about their favorite futebol team.

[@nandosfreitas724]

Não há almoços gratis... Há que pagar.

[@meikil0860]

@@HelderP1337 foreal

[@SuckOnYakuzA]

@@nandosfreitas724 tou a pagar pelo quê exatamente? é pela casa que não consigo comprar? é pelo acesso à saúde publica que não tenho? será pela justiça que não funciona? Deves ter votado PS ou és rico 🤡

[@imeandmyself525]

​@@katieNgg-tj8ljYes, they had. In 2013, i think, the government had the 'fantastic' idea of transferring part of the social security costs to the workers, that is the workers should pay an ADDITIONAL 18% to Social Security, and the employers would have a DISCOUNT of 18%. Great protests all over the country, and the intention DEAD

[@fredericoneto1984]

The discussion shouldn't be about ending this unfair tax regime (made to import foreigners while exporting our young talent) but instead we all should use this and every other opportunity to discuss raising wages, and lowering income taxes for everyone living here... Inflation is not a Portuguese creation, and the housing crisis will be less noticeable when most Portuguese people earn as much as any other european country, and when the country realises that cities other then Lisbon or Porto also need investments in infrastructure. The days of low wages to attract foreign investment is long gone ... we are great professionals, that is more then enough.

[@DaveinPortugal]

This comment is everything.

[@nylesgregory2120]

Here's the thing about your argument: First, I want to say that I (do) agree with you. It's very simple to pitch that wages are too low and taxes are so high, to get buy-in all around. There's one down. HOWEVER, as an employer - anyone who deserves a higher salary, needs to be a qualified person to deserve that higher paying wage and it's no secret that a high percentage of Portuguese labor workers are grossly underqualifed and suffer from low business and professional skills. Dave points this out at approx. 4:15 above and having lived here for 17 months now, I have to agree - hands down. The average Porguguese worker is grossly under-qualified to merit higher wage increases. And what employer can argue against that? No employer (in their right mind) goes out to hire an underqualifed person and then over-pays them. Adding an Edit here - "I am (((not))) a Portugal Employer. I am pointing out the dynamic between "Employer-to-Employee" roles = to give fair wages to employees with matching skill sets. That's the Game folks. Fair wages that match professional skills. No employer ever overpays for underskilled workers and Dave nails Portugal's known negative Euro reputation. Now, KZbin is loaded with examples of "Nothing works here in Portugal." Does anyone here want to argue about that? Does anyone here enjoy the trip through the local Bureaucracy? Anyone? Stand in front of a mirror. How I would love to say otherwise. But I can't. How do you change that around? You start valuing education and trade schools and start making investments in yourselves. Until the culture is willing to upgrade themselves their skills, cultural decline will continue and its educated youth will continue to move out for greater economic gain(s). How else, is the next Gen. going to save enough for a down payment on an affordable home? Until employment fundamentals are embraced, Portugal will continue its decline. Eliminating Portugals tax incentives, (the Carrot approach), the Government is now proposing to switch to a stick = higher taxes of aspiring immigrants and Business investors. So . . . let's see how well the "Stick" approach works over the next 3 to 5 years. 🤷‍♂ In 2025 to 2028, let's re-evaluate then and see how well a "Stick" works, shall we? We can only pray that average wages will increase and average home prices will plummet. That's the hope right? Does anyone believe a single political move, will cure Portugal's woes? Let's see. Time always dispenses final judgment.

[@quimquim89]

​@@nylesgregory2120if I saw this without living in Portugal, I would think there wouldn't be several people with higher qualified making a little bit above minimum wage.

[@fredericoneto1984]

@@nylesgregory2120 yes .. like i mentioned we have been exporting talent for a few decades now, but lets talk about jobs deemed under-qualified with low wages, some are incredibly difficult to master and to reproduce, take textiles, many high end brands are produced here, do the workers get high wages, no ... wines, some of the best in the world .. are farmers getting rich on it .. no .. so many factories of plastics, glass, paper, high end moulds, all across the country .. high wages .. no .. high quality, yes. Then there is Software Development, Health Professionals, Teachers, so many "high end jobs" with wages way lower then EU average. The problem, is just taxes .. employers can't raise salaries, cause they also feel the burn of taxes .. a worker bringing home 1000€ costs the company 2000€ .. trust me .. there is no skill issue in Portugal .. maybe except for politicians.

[@timartinho]

❤

[@luisgraca9895]

Finally, Portugal was becoming a Disneyland where everything was done for tourists and foregneirs living here in search of free healthcare and a safe enviroment. What everybody seems to forget is that those same things that you come looking for are based on the way portuguese people are. We are friendly, we always avoid conflit, we are, by nature, a peaceful nation. Take the portuguese out of the equation and you will loose those same aspects that lead you here. It's impossible to keep all that where the locals have been forced to just leave. I live in Lisboa, it's my city, but for years I avoid going to the city center. It doesn't represent me. It's no longer a portuguese city. I am sad to say but, finally you are leaving because I sense a different person in me, I have become rude towards foregneirs, I not nice to them anymore, I don't help them, I simply don't want to interact with them ... I already have americans and french people living in my building. I'm tired of being addressed in the elevator with "Good morning" not even a "Bom dia" these people do the effort of learning. Go, good, finally!

[@jaimetarne9436]

I hope if you ever leave Lisboa for travel that people treat you better than you are doing. Happily I have found this past month you are in the very rare minority. Don't worry, I am only visiting your beautiful country, I wont be moving here. And Imdo say Bom dia,and obrigada and I worrk very hard at being polite and learning the language.

[@So.ni.a]

Como te entendo. Sempre gostei de turistas, tinha pena deles quando estava mau tempo. Tudo mudou nos últimos 5 anos.

[@cristinagouveia7335]

Couldn’t agree more! Well stated.

[@cristinagouveia7335]

Sad to say we would be extremely grateful if those of you that came here solely to live on our free healthcare, low taxes, safety living and low price life with high income just left for good.

[@cristinagouveia7335]

How’s it possible that the Portuguese government has allowed celebrities and foreign companies to buy land - and we’re talking rich and very valuable land - when they haven’t lived here straight for over at least 3 years?! They’re living off our resources, our healthcare to an extent that we can’t even be treated by our own for lack of conditions for so many! Who on earth gave the last 3 governments permission to sell us out for so little? I haven’t yet been rude to foreigners, because I am a citizen of the world and believe the planet serves all if on equal rights and standards. But I demand I be treated respectfully as my country and fellow citizens. Don’t be rude, don’t be arrogant and don’t litter our cities. Honor the country you’re in. Accept equal rights and opportunities, don’t be opportunists.

[@ryteshghotane6214]

AirBnb and other short term rental companies are the problem.

[@vm6824]

Nope. High taxes and low wages are. Air bnb just became a scapegoat by the govt- a slight of hand magic trick getting the Portuguese looking at something else instead of the real problem.

[@marianagarrido6795]

Dave, I am portuguese and I usually watch and enjoy your videos, precisely bc I like to see the perspective of foreigners here in Portugal and understand your experience. This video really dissappointed me. 1. If the NHR are the ONLY ones making the housing prices increase? No, but it SURE helps. Not only bc of the houses they buy/rent, but bc of the lifestyle and power of purchase they bring along! You wanna come? Take advantage of our services? Sure, pls pay AT LEAST the same as we do. 2. João's comment is biased and politically favours him and his interests (as every powerfull person in Portugal usually does) , so look him up before quoting him. 3. The amount of portuguese who actually benefit from the NHR are a TINY SMALL percentage of Portuguese people, so it's not like this measure doesn't even favours the Portuguese. Maybe it doesn't favour the ones who left to earn more money and then came back, but all the other millions of portuguese are still paying regular taxes - also, the ones who left for X years and then came back sure have a much bigger financial leverage than a Portuguese than stayed in Portugal, working, and paying full taxes. 4. Yes, there are a lot of other different reasons why the housing crisis is so bad, being the maine cause of it our greedy government, but along with the "end of NHR status" measure a lot of others came along in order to try to balance the market and make housing more affordable, being the END of the Golden Visa that you reffered one of them - it's not like the governement looked at the housing crisis and said " the solution is to tax more the foreigners. done" I hope you keep enjoying Portugal but tbh pls provide a full picture (even though it takes time) when doing videos like this. We are tired of foreigners coming here and trying to take advantage of our kindness, time and work, only bc here " people are so nice and things are so cheap"

[@omgqqmoarnoob]

Fellas, this is your chance to experience the *real* Portugal. Taxed like a Norwegian, public services like Uganda. :)

[@HelderP1337]

Lmao basically this

[@meikil0860]

For real lol

[@devincampbell3431]

Well, at least your healthcare euro still goes a lot further than a U.S. Dollar does in America-which is probably the most dysfunctional healthcare system in the world.

[@satanishangover]

​@@devincampbell3431well, depends on where. Know for a fact places in Portugal that healthcare is literally non existent. I'm not talking deficient, I'm talking practically non existent at all. And not at a small village , at a town of several tens of thousands. Of course, it's not a major city, so the government doesn't give a crap.

[@omgqqmoarnoob]

@@devincampbell3431 If you mean private healthcare, yes. Private hospitals are pretty good and efficient, but good insurance is not affordable by the vast majority of Portuguese. Public healthcare system is a literal joke. Day in day out all you see on TV is emergency facilities closing, doctors refusing to put in even more extra hours for such little pay, people in years-long waiting lists for surgery, etc. That's not what's supposed to happen when you fork 45% of your income in taxes.

[@quimquim89]

Honestly, I can't say I'm not disappointed. Here I was thinking you came here because of Portugal's culture and way of life and not just because of the tax haven characteristics this country has for foreigners

[@lizhutson1]

I love Portugal and that is why we moved there. We do benefit from the NHR at the moment but we would not want to move afterwards. My daughter works there and we have to help support her because of the low wages and high taxation as she could not even cover the rent on a one bed apartment with what she earns. I think the low wage and high taxation - and how much of that money actually goes to improving the way of life - is bad for all and the system should be made more fair. Not just in Portugal but in many countries where the young cannot earn enough to make ends meet.

[@Ibetala]

From what I can see as a non Portuguese person, I can understand that if somebody is considering uprooting their entire family, wealth, and life and placing that instead in a new country such as Portugal then the taxation structure would be the absolute deal breaker. No one refuted that the Portuguese way of life, mindset, and manners is what makes Portugal a pleasant place to be, but if the economic environment becomes hostile to foreigners, it will be the reason that they remove themselves never to return. Some people may see that as good or bad. I think it would be sad, but again I don’t know very much about Portugal..

[@anoteruser]

Unfollow he tricked us all 😂😂😂😂

[@Kimllg88]

@@Ibetala they will destroy their own golden goose

[@michaelstreiffert2005]

For retiree visa opportunities, you should include France. The country has a tax treaty with the US, so any federal income tax you pay to the US is treated as a credit on your French income taxes. And, even better, France doesn't tax pensions. There is also a fairly simple pathway to citizenship after 5 years of residence. I spent some time in Portugal and loved it, but ultimately chose France and I don't regret it at all.

[@nylesgregory2120]

If you don't mind me asking - what were your top reasons for choosing France over Portugal? Also, (if you are willing to share) Have you reached out to any French Labor trades for Home renovation/Construction projects? and if so, how did that work out for you? There is a famous book called "A year in Provence," which highlights the monumental task of getting the local labor pool in France from finishing the projects that they were hired to do. Watching perennial French Labor strikes, I'm guessing there's still a stiff labor challenge, but would welcome any personal insight that you experienced since moving there.

[@sweetcanary3006]

@@nylesgregory2120 I'm French I'd stay away from the République an increasingly communist country

[@michaelstreiffert2005]

@@nylesgregory2120 France, like Portugal, offers a chance at citizenship after 5 years residence. And, like Portugal, France has a language requirement. I spoke some French already, and I figured learning Portuguese would be pretty difficult. Another reason was that I spent a winter in Portugal and discovered how poorly insulated so many of the homes are. Yes, it's colder here in Strasbourg in December, but inside it's warmer. Also I hope to travel around Europe now that I'm living here and Strasbourg is perfectly situated for that, especially compared to Portugal. I haven't had any need for home repairs, as I'm renting an apartment, but most labor strikes are with the country's big unions and industries. I haven't heard of anyone having problems with striking carpenters or anything like that.

[@nylesgregory2120]

Thank you for you response and insight, both are appreciated. On Language - it's an awful slog. I had a year of French and three years of HS Spanish and thought the transition to POrtuguese would be easy. It's not and most describe the journey as Slavic with a Spanish accent. It's not a pretty language nor one you find yourself gravitating toward. On the Home insulation "What insulation?" What Air Conditioning? What screens on the windows to keep the Bugs-n-Smog out? What clothes dryers? Etc., Etc. No there's much left to be desired here, but the cost of living is tough to beat. On the Contractors, since none speak English, that leaves the job up to the Homeowner as a DIY for nearly every reno or construction project and there's only so much a Guy is good at. At some point, you have to pull a ticket and stand in line for the Pro's. No other way around it. Then get ready to beg, plead, feed and treat all through the process, otherwise you'll never get your project done. Prayers for you if/when you ever buy a home and then start tailoring your home to fit your needs. I am following a couple who moved to France and am waiting for their moment with the Contractor-du-jour before weighing final judgment - @@michaelstreiffert2005

[@SilVia-hs2kb]

@@nylesgregory2120 Portuguese, not a pretty Language?😂😂😂😂😂😂i know tastes shouldn't be discussed but,😂🤣🤣🤣🤣🤣🤣🤣🤣😅😂😂😂.Thanks for the laughs.

[@acceleratum]

Its so bad in the big cities that my once small city now its full of people commuting over to Porto for work.. it has inflated the market definitely, increased crime rates, and other factors.. I also confirm that taxes for low to medium incomes are huge, taxes on investments are also ridiculous and overall the tax system in Portugal is designed to not allow easy moving up in wealth.

[@ricshoyasRHM]

Just came back from house hunting in a small town in Portugal for early retirement in a few years and after hearing the new policy, I will not buy, luckily found out before sealing the deal.

[@Jorge.1419]

Bye 👋

[@martaoliveira3267]

Good riddance 😘

[@AnaCosta-gu6bp]

bye bye

[@ricshoyasRHM]

@@AnaCosta-gu6bp I’m Portuguese so I can do what I wish. Adeus 👋

[@adrianadahl5371]

So grateful for your easy to understand, informative videos, Dave! Thank you! Happy Holidays.

[@davycrockett8886]

They shouldn't have given unfair tax advantages, plus the Golden visa for real estate should only be for the countryside where there is a low population, not for the popular areas.

[@maryr7593]

If only the govt had listened to you when they created the programs in 2005.

[@tomastex7399]

then who would move here? lets not forget how most of portugal's city centers looked like 20 years ago, some even more recently. The problem isnt these people paying too little. Is everyone else paying too much. Too much taxes, that end up paying for bad and faulty services, and dont even get me started on the zombie companies our taxes save

[@vorong2ru]

Bs. 20% is a huge tax rate and noone would ever arrive to the country if the tax was 40-50% to start with.

[@charlesentertainmentcheese6663]

The real problem, however, are the digital nomads, not the NHR. Ending the NHR will not do anything to fix the problems the country is facing. A severe crackdown on short term rentals is what is needed.

[@LiLBitsDK]

short term rentals are stupid... ppl need somewhere to live all year... so minimum 12 months... and else "non-ending" contracts unless the person wants to move... would solve a lot with greedy airbnb landlords... and ban all airbnb in the big cities... will solve a LOT of problems...

[@mex5341]

@@LiLBitsDK yes , short term rentals are stupid..

[@LiLBitsDK]

@@mex5341they are rare here... usually 12 months but other then that it is open ended... and you need a "legal excuse" to have a short term rental here... and you can only extend it once, then it becomes permanent

[@eddycarpenter8989]

the problem is greedy Portuguese landlords charging extortionate rent prices for old deteriorated apartments

[@muggywebster1117]

Totally agree!! AirBNB is an awful company, making people homeless all around the world.

[@Caesarlivenloud]

well... when tax breaks create such disparaties... people tend to feel it's unfair treatment... especially if you're local and can barely afford housing since you get paid minimum wage and you see people making like 5x more and having tax breaks..

[@Diogohenriquescaralho]

Just for you info tho, millionaires who are in the NHR taxed at 20% pay more than 100 Portuguese citizens on average in taxes.

[@mtngrl5859]

@@Diogohenriquescaralho Indeed. The millionaire is not getting 100 times value of one citizen, he's still walking on the same streets, using the same facilities. In fact, he/she likely does not have children attending schools and is likely using private medical facilities, so costs the country less. Typically, they have more discretionary spending, so will buy more luxury items, so another industry gets created around their spending. Likely goes more to spas, getting personal treatments, likely has household staff: gardeners, housekeepers etc. So, there is a source of jobs. The French actor Gerard Depardieu relinquished his French citizenship after paying 40 million in euros to France in taxes. Everyone has a limit. There are other jurisdictions and from what I see, there are many countries open to those with retirement income.

[@cristinagouveia7335]

People don’t “tend to see it as unfair treatment@ it IS unfair

[@antoniolopes646]

​@@Diogohenriquescaralho I hope you are one of the people living in portugal and is leaving enjoy. Or you are staying and paying 48% enjoy

[@Diogohenriquescaralho]

@@antoniolopes646 your comment doesn’t make any sense

[@MsXlr8urself]

Met a Portuguese nurse on vacation in Guatemala and she said she opted to work in the UK due to low salaries but then left after the height of the pandemic and NHS issues. She was on her way to South America to enter a program and I assume work in Colombia or Brazil. It’s unfortunate she had to leave her home and go so far to find suitable work, but that’s the reality for a lot of people outside of Europe anyway.

[@Solrac-Siul]

Dave you should also mention that the European Union is effectively looking into programs similar to the NHR, like the ones in cryprus, greece, and even italy and spain. So it is not just the portuguese government trying to save face but also trying to keep ahead of what will most likely be coming. I also want to notice that as someone that moved to Portugal in 2009 and did not had any sort of NHR advantages, that pays taxes as intended, and that has seen the prices of housing go by 100, 200 or 300%, I think a change was in fact needed.

[@HelderP1337]

Really? First time I'm hearing this, got any sources you could reference / link?

[@michaelwoods1924]

The cost of real estate has grown much faster than wages or the official inflation rate in the United States as well. Welcome to the party.

[@imeandmyself525]

​@@HelderP1337I've also heard that, when the end of golden visa was announced, that EU was pressioning countries to end such benefits. Specially Cyprus, its programs are a highway to russians enter Europe. And when there was some bankrupcies in Cyprus during the finantial crisis there was no bank nor savings rescues, because the accounts of more than 100.000 euros where from russians citizens or companies

[@Solrac-Siul]

@@HelderP1337 This was requested last year by the Subcommittee on tax matters (FISC) www.europarl.europa.eu/RegData/etudes/IDAN/2022/703343/IPOL_IDA(2022)703343_EN.pdf Later this month the situation is supposed to be mentioned in the second EU Tax Symposium in Brussels under the theme "The future of taxation in the EU: Challenges ahead & changes needed". There has been keen interest in the NHR as it was seen as opening the doors of EU citizenship status while creating tax exception regimes , and an equivalent system in Cyprus. Spain, Greece and Italy are intended to be examined in the near future.

[@dlukton]

"Change was needed". Real estate rose all over the world.... primarily as a result of actions by central bankers.

[@tiagosantos680]

You are not taxed at 48%, the tax brackets are progressive, the effective rate will be more around 35%, still a lot for such amounts, but if the income is really high it will go towards the 48% as final bracket starts at very low amounts

[@RodrigoFerreira-bs6hd]

so exactly what he said?

[@ricardoamendoeira3800]

​@@RodrigoFerreira-bs6hdNo, at some points he gets it confused, such as 6:05 or when mentioning the 30k salary. I do think he understands it as he mentioned progressive tax, but doesn't explain it clearly for people who don't.

[@withoutwroeirs]

I'm a UK/German citizen, so not effected but it is interesting reading about these experiences. I remember years ago working in Australia as a non-resident, 50% tax up front! I just passed that cost onto my employer. If they wanted me they would pay for it.

[@youngspiritsinging]

US citizens have to pay taxes . So Dave is being taxed twice.

[@randyneilson7465]

​@@youngspiritsingingHe gets a US tax credit for any foreign tax paid.

[@mtngrl5859]

@@youngspiritsinging For earned income outside the US, the first 113k is tax free. One does have to pay social security taxes on it, but technically that's not a tax. Plus, if he has good tax advice, he has a great deal of write offs for his business, so he likely could make up to 140k or 150k before paying any taxes to the US.

[@RazudMezeghis]

Just want to clear some things... most portuguese earn an average of 15.000 euros per year (divided per 12 months + 2 salarys, one for vacations paid in summer and another for holidays in the winter, gives about 1072 euros per month)... For example In a salary of 1000 euros per month, of that 100 euros is for social security and 100 euros for IRS (tax), you only receive 800 euros, wich isnt a lot... Now imagine a couple having to pay the following bills: - 700 euros rent for a small apartment - 70 euros per internet, cellphone, tv, etc... (media stuff) - 150 euros in utility bills (water, gas, light) - 500 euros or more per house shopping expenses Also dont forget expenses like car expenses (tax's, fuel, maintnance, etc...), expenses with kids (school, bus, daycare, study center, etc...), etc... its a LOT do deal with... 75.000 euros earnings per year is a trully unrealistic number for the common portuguese resident... only really very high company boss's will earn those kind of earnings... Personally i dont agree thats the direct fault of foreigners the stand rise on prices on the real estate, the government allow it to happen since they the "cursed open door" policy and everyone come to Portugal, even ilegal's, and the true problem is when people "pile up" to pay/accept ridiculous prices just for rooms... and once the "market" seems the trend they rise the prices... Them the benefits to open more hostels, local booking0s, etc... to renovate old buildings was a trully double edged blade... while they can help invigorate the city center old buildings into new lifes, they also lead to a kick in the butt in rented houses so they could segregate a T3 (3 bedrooms) house that mostly was rented by 500, to rent those rooms at that value, so they would win 1500 for the whole house instead of only 500 for it... and that lead to the iceball effect we see now in the house market. Another great problem is that the government only cares about young people and middle aged working folks are left forgotten... and the worst policy is increasing the minimum wage... for example its gonna rise to 820 euros in 2024, but those who already win about that, like 850 will still earn the same, they're not getting the wage so greatly updated if they even get an update..., and with the increase of the wage, the prices will rise in acordance and the people who already won above average wage will have to fight even harder to survive financially. Dunno if you see some of the news in the local tv's or talk to people who do, but theres tons and tons of cases of people kicked out they're house since the landlord wanted to rise rents brutally, like 100 euros more, and people simply cant cope with that... people are "living" in tents in gardens, some lost they're children do to not having homes the child protection take them away... and am talking about WORKING PEOPLE, not unemployed of retired... middle aged folks left abandoned... Its even worse when they evict old people that lived they're whole lifes in the same house, just because the landlord wants to create an hostel or a local room renthing... I will leave here some news that are a must to read and see... executivedigest.sapo.pt/noticias/casal-obrigado-a-viver-em-tenda-em-carcavelos-perde-a-guarda-dos-dois-filhos-menores-por-falta-de-casa/ sicnoticias.pt/pais/2022-10-23-Casal-de-idosos-despejados-de-casa-vive-nas-ruas-de-Lisboa-436f5eb9 Just to make sure i have nothing against foreigners, on the contrary i love to see them enjoying the country where i live. Our government unfortunnally is very space out of what the reality of the country trully is since they have the really bad policy that Portugal its only Lisbon and other regions are always forgotten... thats why the interior is so desolated fill with ruins...

[@michaelwoods1924]

Is it right to compare the *typical* Portuguese person to a foreigner in a completely different economic class? I believe your comparison is missing the mark, unintentionally misleading.

[@simplylive2466]

Agreed. AND on the money people are left with after taxed, is taxed very HIGH again in the form of IVA

[@BigFishbone1]

And how do you survive with 1000 eur if your calculations has shown more money needed for life?

[@vsvpx.]

you dont that's the problem. there are alot of people in debt or selling their car or their home to try to make ends meet. there's even families living in tents because the rent got so high they cant pay it anymore@@BigFishbone1

[@RazudMezeghis]

@@BigFishbone1 you wing with, thats the portuguese way, and i mentioned as a couple... so its 2000 euros. Also forgot to mention the meal card, but unfortunally it isnt very relevant, and most people have a hobby they use to make a bit more cash.

[@niclashauswald]

Another well done video and very informative. Do you have a good link or reference for NHR application? Obrigado Niclas

[@leaodaestrela5250]

Dear Dave, you are more portuguese than most portuguese I know. The way you talk about my country is contagious, fun, light, and assertive... your videos make me proud of being Portuguese. You respect our culture, you highlight our strengths and embrace our weaknesses... we need more people like youl... sincere OBRIGADO. I really hope the tax situation won't be enough to make you leave Portugal. There's more to Portugal than taxes, including beautiful hidden gems where one can have a peaceful, happy, safe, and cheap life... hope one day we bump into each other and you let me buy you and typical meal from my home town. SERTÃ... until then, keep going, and all the best

[@maryr7593]

Don't worry Dave has 8 more years on the tax program...it is whether he will stay after the 8 yrs are over...when he will pay what the local PT will pay.

[@TheSimArchitect]

We need less (or no) taxes on income and more (sales) taxes on consumption and real estate. Stimulate what you want (production) and create friction on what you don't (consumption and real estate ownership in excess or by businesses).

[@th3freakie]

Notice that if you make 78.834 €/year you don't have to pay 48% of that in taxes. It means you pay 48% on every euro that you get *above* that value. The way progressive tax rates work you pay a certain % on all income between X and Y, then another % on all income above Y and bellow Z, and so on and so on. So if you made exactly 78.834 €/year you'd actually pay a real 36,67% rate over that whole value, minus whatever deductible expenses you have, like health insurance, social security, etc. Also relevant is that if you're married or living with someone else, you can do joint tax, which means you add the couple's income and split the income in 2 for the proposes of finding the tax rate. So if you make 78.834 €/year and you're married to someone with 0 income, you're actually paying tax at the 39,417 €/year rate, which is going to be an average closer to ~30%.

[@Diogohenriquescaralho]

This is income earned in Portugal. The simplified regime doesn’t apply to foreign income

[@DarthFurball]

What they needed to do was ban foreign property ownership and severely restrict AirBnb similar to New York and LA. But the government was happy to take the kickbacks from foreign developers and point at a different scapegoat

[@LiLBitsDK]

ownership no... AirBnB and Rentals YES...

[@truedarklander]

​@@LiLBitsDKboth, I'd argue both.

[@channiere]

I bought a house empty for five years , I am awaiting costs for renovation work . I employed a Portugese lawyer , a Portugese architect , a Portugese steel expert . The work will be carried out by Portugese people busing local materials . All the furniture in the house including a fitted kitchen has been donated to local people . I’d like to think people like me ( English but with an Irish passport ) are helping the Portugese economy . I haven’t moved yet but any income I have will be taxed in Portugal .

[@donnapullman2071]

Thanks, Dave for this very informative video. How about a video touching on the dual tax treaty and how that might help retirees on social security? I understand that taxes paid in Portugal are deducted from US taxes. Correct?

[@robbinhinson3271]

I think the real problem for the Portugese people is the low wages and high taxes. My Portugese boyfriend works 6 days a week as a lumberjack ( a dangerous and very physically demanding job ), he has to supply his own equipment and only gets 12 Euros an hour, he does not automatically get insurance from the taxes he pays, he would have to pay separately for health insurance and says he can't afford it. Little incentive to earn more....After taxes he only has around 1,100 ( and has a son). He cannot work more hours, he already works long hours. I keep trying to encourage him to learn something like solar installer to make a higher wage , he feels like it would not even be worth it because of how much tax he is required to pay.

[@lxportugal9343]

Does the 12€ include the gasoline?

[@kinoven]

damn he gets way more then me i only gain minimal wage is like 860 euros with taxes, is like 5 euros per hour as a retail seller but of course we work as 2 people and sharing tasks with managers because if you don´t show worth like making more money then the guy before they will fire you eventually. Renting a house is almost 600 is impossible to do something, i did end school but for the type of job i studied i need a degree, let´s just say that i don´t have 2700 euros to to get a decent payment like him 22 living with parents with responsibilites to pay and still get my get account near 0 or 2 digints

[@simplylive2466]

This is SO true. Same with my partner, with three girls. AND you pay huge IVA on what is left. If autonomo, also have to pay to Seg Social

[@HEMI345S]

​@@lxportugal9343I hope you mean gasoline and 2 cycle engine oil for his chainsaw 😂😂😂

[@maryr7593]

​@@kinoven it could be possible he earns a bit more because of the danger involved in the job. A mistake could cost him a limb, fingers, possibility of having a tree drop on you or your equipment. If that would happen to him, it's likely he would loose any livelihood until he could be rehabilitated to regain the strength in the limb and/or learn how to use a prothesis limb. Both can take lots of time and money. Not knowing for sure what PT SNS covers, not sure this would be within realm of SNS or the private insurance system.

[@julianaferreira1382]

Hi Dave. I really like your videos but I think this one is very incomplete - there are still some forms of NHR that can be applicable, mostly for scientific research. You are completely right when you say that the NHR is not the cause of our housing crises. But being very practical, Portugal does not need this kind of investment (speculation?) right now. Portugal should be (and it is) a welcoming country to everyone, but the Portuguese people cannot continue to be second-class citizens in their country regarding fiscal matters. Do you want to have the possibility to use our hospitals, schools, security, etc? You should pay for them, as do the Portuguese. And before you come at me saying that buying a house is an investment, want is the investment you do that the Portuguese don’t? Paying the same housing tax, the same VAT, and the same of everything else does not add value for the Portuguese. It is an investment only for the person who buys it only. Portugal needs a lot of investment and incentives should be created, but it does not need luxury gated communities that do not serve the society as a whole. The João that you gave as an example is one of the few Portuguese people who benefits from it because he works for a law firm that helps people immigrate (yes, immigrants, not expats) using this tax break. Did you ask a person who does not profit directly what they think? I dare you to go to the Spanish, the Greeks and the Italians and ask their opinion about this. Do we need lower taxes? Absolutely, but we need them for everyone, not only for foreign people. I hope the people who are planning to move to Portugal can do it and be happy here when the taxes are lower and te wages higher for everyone. And this is what will make the Portuguese people outside of the country come back, not some 10-year discount (because you will move on to the next lower tax country, I doubt they will want the same). Besides, a program (search Programa Regressar) has been created for Portuguese who want to come back with better benefits, so I don’t understand your insistence on saying that the Portuguese people are also big beneficiaries of this. I understand that this comes as a shock to you and all of the people who benefit from this, but this is due to our horrible and incompetent government, which is one of the worst in Portuguese recent history. But I ask you: would you be happy if a richer foreigner had tax breaks in the USA only for buying a house? I doubt it. Best wishes to you and everyone that has decided to move to Portugal. This is not a personal attack at all, it is a different view on this problem (sorry for my broken English!) :)

[@on2thenextthing]

Well said.

[@susanam.826]

Agree.

[@tails1381]

Justo

[@maryr7593]

All newspaper articles who discuss ending NHR all tell the history of NHR as originally being developed for Portuguese who left the country. He regurgitated what he read. If that's incorrect, then all the CNN PT articles plus other news org got it wrong.

[@Diogohenriquescaralho]

Just for you info tho, millionaires who are in the NHR taxed at 20% pay more than 100 Portuguese citizens on average in taxes.

[@Androidet]

olha que pena .... talvez assim muitas das pessoas que veem para cá ficam 5 anos e nunca mais voltam ( porque podem ir para qualquer pais da UE ) deixem de vir .... o bom de não ter os mesmos impostos que nos acabou aparentemente .... se um tuga consegue viver cá a vida toda "vocês" também conseguem, apenas vão começar a pagar o mesmo que nos temos de pagar acho muito bem if you leave i will be sad ... i really like to see your videos and the way you see my contry and the people

[@on2thenextthing]

I don't think anyone is against taxation, but I'm pretty sure people are against taxation where they waste money. Will be interesting to see how things unfold in the next 12 to 24 months.

[@kinoven]

@@on2thenextthing yeah but explointing a system for then 5y later forget and just fly around europe when your own house here is empty, because there is much more too see, just an holiday house like is a bit to convinient., when portugal is a small country with dificulties to rent houses for locals i mean you guys have to suffer somewhere, we are suffering for ages im 22 and in 2 decades i just see poverty how you think it will shape peoples mind? XD we become souless oportunists with guts of an old portuguese basically, savages and extortion experts just to get out of this depressing hole. good people but playing with gray areas our survivel and health first.. towards people with way more weath, we blame our goverment since corruption is very strong here.. our taxes are not used in house rebuilding etc

[@piberman]

@@weird-guy correcto, a história de criação de emprego é outra mentira. Devem ser uns 5-10% dos casos. O resto são reformados (a maioria dos estados nordicos já tinham avisado Portugal que iam começar a taxar os reformados que foram viver para Portugal). A crise da habitação não é só da questão da taxação dos estrangeiros, mas é também um dos factores. Os preços ridiculos praticados nas zonas de Lisboa, Porto e Algarve começaram com esta situação. E a questão dos reformados também tem impacto no SNS.

[@__MPires__]

I have no interest in working here as a Portuguese. It's awful. the wages are absolutely laughable, the opportunities are close to none, and the prices of housing and everything else really, it's pretty much pair to pair with much much richer countries. Idk what to make of this, but as someone who's in their 30s still trying to make my way into life, my home country does not offer me anything. Just amazing weather and my mum, but I can't live off that and I can't create my own family like that either.

[@Cromantien6236]

I mean our Government is treating us Portuguese as second grade citizens and less than foreigners so obviously people were unhappy with that type of treatment so i think our Government take right decision.But as you say Government need to provide young Portuguese with talent an advantages so they work for Portugal

[@DaveinPortugal]

Thank you for this comment.

[@maryr7593]

You guys need to protest your govt for creating such policies. Vote them out!

[@user-od2ze4zq3p]

Love the candor and clarity Dave!

[@user-ls8ey4mw9z]

I'm glad you're doing this kind of video. Thanks so much. It's super helpful to us as we try to figure out whether to move to Portugal. We are retirees and cancelling the NHR tax will make a move to Portugal much harder, and I gather you think there are better ways to solve the bad side effects of the incentives that have attracted so many expats. Still, for the last year we've been concerned about everything we read about how the housing inflation, and I think other sorts of over crowding from people who are not paying into the system, is hurting the Portuguese. The more you can talk about these problems and possible solutions the better. We still might move to Portugal depending on what happens here in the U.S. It's appealing because it still one of the most liberal democracies in Europe, is beautiful, has great medical and (unlike France) dental care, and it's true: the people are lovely. We keep thinking things are changing so much that we can't make a decision about moving but there have been 4 gun killings in my city in the last two weeks that have made the news, and that's not counting all the shootings that don't.

[@Jorge.1419]

Portugal has a lot to offer still

[@ruiorik]

some things: at 2:15 there is a mentions of how much the "expat" contributes to the society (creating job opportunities and what not). we don't really have an issue with that. if the "expat" contributes to our society in meaningful ways (creating jobs, or using his field of expertise in our favour), we see that as a good thing. our issues come with expats that utilize our tax breaks to essentially have an easier time (working from home to their original companioes/countries), while we have to pay for it. as for the 0.1%, it may seem small, but the entire market is trying to appeal to those 0.1%, because why rent a place to a portuguese for X, when a landlord can afford to wait a while and perhaps rent for 2-3X to an "expat" that can afford it. as for the housing market in terms of sales, a house sold to an expat is a house that a portuguese person won't have, and since expats can usually afford some "luxury", new developments tend to cater to those markets, pricing out the portuguese people. TL:DR: we don't hate expats, we hate the system they heavily benefit and we don't, some people even "joke" that it's in their best benefit to try and lose a portuguese citizenship by immigrating for several years, and come back after.

[@EpicDadventures]

I’m a software engineer who saw Portugal as a path to a better life for me and my kids and sold my 5-bedroom house and moved to a two bedroom apartment in anticipation of making the move when they were old enough for college. Started to learn Portuguese that day and followed the dream. Two weeks before my Golden Visa scouting trip, they killed that program. I rolled with the punches and figured I could at least take advantage of the NHR program, and spent this summer remote working in Porto, house hunting and doing a trial run. I also introduced my kids to the beautiful country for the first time, spending $20k to do so (with plans to make it an annual trip till the move). Now, with the end of the NHR program, Portugal has gone from a magical new opportunity to not affordable by a long shot. I sympathize with the housing crisis there, but this is absolutely devastating to us. I made a lot of sacrifices in my life to make this move a reality and now I feel like the rug keeps getting yanked out from under me and I feel a bit lost.

[@CommoditySC]

Surprised you didn't see it coming with all the issues they're having. Thailand just increased the price on their elite visa by multiples, panama got rid of their easy "open a fake business and get a permanent residency". Too many people want to leave english speaking countries now so they are tightening requirements. As one tightens, the others get more applicants. It's a snowball effect.

[@imeandmyself525]

Go to Cyprus

[@antoniopereira9094]

The only mistake done by the Portuguese government was to set up NHR program, but not to end it. My family already lived in other country's and we always payed taxes the same way as the locals. I also have few relatives living in USA and paying local taxes. And they are not blue collor workers, they are PhD workers. So being an IT engineer nowadays is peanuts. My son is also a software engineer, and myself have a double degree (economics and law + master degree). So, don't come here waving your qualifications. We have ten of thousands of young people with same qualifications than yours. All foreign peoples are welcomed to Portugal, but not to be what they are not in their home country's at our expenses. By the way, I am not a fan of the Portuguese government but this measure is fair. 6:17

[@vmoses1979]

The NHR was always a short term thing - 10 years. So given your level of planning not sure why this would affect you this much. And you can create an offshore company and keep your money there and just withdraw a small amount for uour daily expenses.

[@snakerooni]

Let me tell you something... most Portuguese need to work more than 2 years to make 20k... And if they are in a condition to save money, after those 2 years they might have like 3k in the bank on savings if that much.

[@jackbaldwin3649]

Very helpful Dave...thank you! Just to clarify you don't mean 48% tax over and above € 75,000 in annual income, correct? The tax applies to the entire amount? Muito Obrigado!

[@RudeBiscuit]

Seems like its not even addressing the actual issue. Start regulating the short term rental market, make it so companies can't buy residential property, etc. Seems like we US citizens are bringing our brain rot over here.

[@user-rz5px4xp4i]

I bet when state tax, property tax, healthcare and insurance are factored in, US retirees are paying a 48% tax rate in the US!

[@maryr7593]

Except that health insurance and property insurance are both paid through private companies. However some folks are able to get the health insurance premiums taken out of checks pre-tax. Any copays, co-insurance or healthcare bills are paid for each individual appt you have. Property tax is paid at end of year post other taxes. Social security is taken out of check pre-tax too. Property and car insurances are paid

[@maryr7593]

Even if it does work out to e 48% of their income...the comparison is not the same because all taxes are included. In PT for example, the retiree still pays for private health insurance, the costs of the visits/medications; property tax and insurance if they own property; they may still be liable to pay state and federal US income depending upon other investments they may have. For PT, the amount of taxes they are talking about is only income taxes.

[@user-rz5px4xp4i]

Why do so many people declare bankruptcy in the US due to unaffordable health care costs then?

[@maryr7593]

@@user-rz5px4xp4i some yes, health care costs. But many take out a mortgage larger than they should have and suddenly they lose their very good paying job...after they lose the job, they cant get a job that pays the same amount. Or some make investments and lose money that way. Natural disasters can cause the bankruptcy too...esp if they didnt have flood insurance. Flood insurance is stupidly expensive, most cant afford it. Then there's a flood (that might only happen every 100 yrs), insurance doesnt cover the damages to the house, the belongings in the house, the loss of the car, etc. Dental issues as well can bankrupt someone as that is usually an additional cost of insurance and typically insurance only pays 50% of cavities or crowns. Major work like dentures arent usually covered. Eye glasses require an additional cost of insurance but maybe they pay 50% of eye glasses....which can be very expensive. (This year for example, I have vision insurance, getting bifocal glasses cost $350 and I brought in my own frames. Some companies make you pay $20 if you want to use your own frames...highway robbery...this happened in early 2023 because I needed single vision reading /computer glasses.) Some ppl have a high deductible health insurance which means you have to satisfy your deductible before the insurance pays anything. It could be anywhere from $1500 - $8000. Those folks get lower monthly premium rates...and usually do not have health issues. Some ppl also can go bankrupt because they have to cover funeral and burial costs of a family member who didnt have insurance. In 2017, the bare bones funeral, coffin, burial plot and burial service for my mom was $13,000. She had life insurance but it was only worth $10,000 so it didnt cover all the costs. Also whomever inherits the property has yo pay estate taxes....so most of the time they have to sell the property to pay the tax. The really wealthy ppl have attorneys advise them how to avoid probate and for your heirs to pay estate taxes. The average person doesn't have the money for this or even know it is possible. The internet is helping democratize education...one can learn about almost anything if you have the specific vocabulary to look up. Some ppl retire without sufficient savings and the amount they get in social security isnt enough to support them. Unfortunately retirees have to pay health insurance premiums and rx costs. Medicare that ppl aged 65 get...only covers hospitalization. If you go to Emergency Room but are not admitted to hospital, your supplemental insurance plan pays a portion. (Many of us non-retirees are surprised to learn we have to pay additional health insurance costs which is more expensive than ppl under 65 because over 65 ppl have more health issues usually.) All of this is also a reason why retirees want to go to lower cost of living countries because they can no longer afford to live in their own country. You only get assistance if your income is very low...so most ppl make too much to actually be eligible to qualify for assistance. There are also laws whereby you can't have owned a house within 5 yrs of requesting assistance. (Some ppl try to give away or sell assets so they might become eligible for assistance...yet the assistance is based upon one of your higher years of salary (like an average)...it's typically only 90 days and you have to reapply.

[@angeltobit878]

Iffy to move there now. There used to be advantages to moving to Portugal. Little by little it’s either the government is taking them away, or it has gotten expensive. The only thing that cannot be taken away is the weather.

[@jw841]

The benefits to moving to Portugal are disappearing quick. The taxes are high and the cost of living keeps going up. I went to Lisbon earlier this year and was amazed as to how expensive it was. Decided to move back to Osaka Japan where I get more bang for my buck and the lifestyle is great. I found Lisbon rather boring.

[@lxportugal9343]

I was swimming yesterday... The only problem is when the sea is this warm... it becomes full of alforrecas...nheeee

[@Lucasfilmoriginal]

Hi Dave! I'm a young guy from culture more specific to the cinema area, and the fees versus aid is a very big gap, it is very difficult to produce audiovisual content in Portugal... I would venture to say that this is how we are heading towards professionals who leave Universities/Film College or other cultural environments ending up immigrating to other countries that give them what they are looking for (appreciation, monetary return, etc.) But we have to think more about what Portugal needs, who comes and how they come to Portugal.

[@ShawnGageDotCom]

What manufacturer/model are your glasses?

[@nylesgregory2120]

You did good on this one Dave. For anyone who's already moved here and hasn't lined up their paperwork, better get on it.

[@ecomediacompass1273]

House in a village that I love in escrow... what's next? (Panic)

[@nylesgregory2120]

No, you got in under the wire. Prayers you close before the deadline. Once you get approval, move over, and the dust settles, prepare for some stiff, but not impossible challenges. The spirit of the book "A year in Provence," is definitely here in Portugal and you have to be prepared to pull a ticket and stand in line to make any home improvements. Fair warning - you will remember this moment. Getting in is only half the challenge. Making your home function and work for you, is the 2nd war. You won't be the only one and you'll not be the 1st, but prayers and safe journey's wherever you're from. @@ecomediacompass1273

[@ElinT13]

I think, it was about time for Portugal to make that step. If I was Portugese, I'd be boiling mad that foreigners and returning nationals with much higher income get taxed so little. It was about time.

[@tenorsaxjazz1]

We are!!!! At my work in engineering we consistently have this conversations. As we say: "we are not mad that you take advantage of this break, we are mad that we are not in it". Of course we would prefer the break to be for everyone. But at least it's a step to end this revolting feeling of injustice...

[@vorong2ru]

What do u mean so little? 20% is a lot. Considering those 20% are much more € from 3-5k.salaries than 40% locals pay on 1000 euro salaries. Noone would return to the country if they had to pay 40-50% taxes. We don't pay that in the UK, it's a much lower tax here and we actually get good roads and good infrastructure for these money ,unlike Portuguese trying to rip off everyone and give them nothing back.

[@ElinT13]

@@vorong2ru That is not the way I see it! No matter if the 20% of the foreigners result to be more in EUR than what the others pay in average. It is still unfair. The foreigners still benefit from the public transportation, the national health system and so on, so they should pay the same percentage tax as everybody else!

[@anoteruser]

Amém!

[@dlegacy75]

I had dreamed of moving to central Portugal near Fundao after I retire in two years and run a small farm. That will not happen now due to this change. I cannot justify paying nearly half of my pension in taxes. My plans are just that, plans, and I can change them. Italy was always in the running as a retirement location, and with their seven percent tax in central and southern regions, it is now on top. I don't know if Portugal's change will help with their housing problems. I do know that a lot of ex pats from all nations will now go somewhere else. That is going to be a big hit to small businesses and all of the services that benefited from the money that ex pats brought to the economy. I will definitely still take long visits to Portugal, as I truly enjoyed a vacation there this past summer.

[@pedrobatista1990]

Sim a taxação máxima ronda 48% mas na realidade é um pouco mais per capita. Sobre as datas é esperar que sai o Orçamento de Estado. O documento mais importante deste país para saber o que vão fazer. E digo vão, devido a maioria parlamentar que existe de momento de um só partido.

[@whatsitlike6392]

I think blaming the NHR for the increase in prices is just a scapegoat. Real estate values are up the world over. In the US every state in the West blames Californian transplants for real estate inflation. Every one wants someone to blame. If Californians aren't to blame then it has to be AirBnB.

[@maryr7593]

Far more ppl from CA moved to Portugal in the last few years than other states.

[@godamnfunky]

...So foreigners realize its not worth a move to Portugal if they have to pay equal taxes to those of locals?

[@vmoses1979]

That's the whole point - it's for people who don't want to pay much to get a lot. Countries are competing to flog themselves off for the lowest possible price in exchange for investment that goes to owners of real estate. Sad.

[@godamnfunky]

So, the idea is to sell off all the attractive property to fiscally privileged people , while locals with less competitive salaries and higher taxes have to bid for whatever is left ? Did I get it right? I mean, might as well dress us all up as butlers and maids , then

[@maletu]

It's important not to confuse MARGINAL tax rate with total or effective tax rate (as so many seem to be doing around this issue).

[@AlexandreLopesMuc]

So true, great feedback. I was planning to retire in Portugal... Now need to change plans

[@adventurerkate]

Honestly this is good to know, but I wasn’t going to be moving for tax reasons anyway. This just means my husband and I slightly adjust our approach. Our first priorities were studying the language and culture, getting out of debt, and getting a savings built up. After that seeing if we could find jobs with Portuguese companies, and if not, companies that would allow us to work remotely from Portugal. If we have to pay higher taxes that’s fine, just means more careful planning and budgeting. Really appreciate you talking about this.

[@miar600]

Portugal is an illusion! In fact, it's time for people to go back home to wherever they from and fix their own country, the grass is never greener on the other side, believe me, I've been trying for 30 years all over the world! I'm going home!

[@mikeh2426]

If you’re coming to Portugal and you’re in debt you shouldn’t. Period. The Republicans win the US election let’s say then they are going to continue to try to double tax Ex-Pats. Any money you make and you wanna keep your foot inside the US, you’re going to pay 50% tax rate as an expat plus any job where you make money in Portugal you’re going to pay 48%. So what is the point in moving to Portugal if your debt has already been established and you’re trying to pay it off and now you are incurring more tax debt. Remember, it’s not set up for people to come to Portugal, so they can leave their debt. Think of moving from California to Texas. You pay the same federal taxes but when you move from one country to another, you’re going to be paying into two tax systems. This is not true for retirees as they are not expecting to pay taxes at the higher rates if they are not working. Portugal does not want you to bring your debt. Also, what you should know is most Portuguese people do not burden themselves with debt as in credit cards to the degree that Americans do and other foreigners who live on debt and paycheck to paycheck until they can’t handle it anymore. Talk to a tax advisor who knows Portuguese tax and if you have an American tax advisor, explain your entire situation and what your goals are. Moving somewhere from the United States and selling off everything you have or bringing nothing will cost you a lot once you arrive. be wise, not hasty.

[@j.heilig7239]

I agree. NHR should never have been anyone’s main reason for moving to Portugal. It would have been nice, but I’m still going to go regardless. Just takes more planning and budgeting.

[@benchoflemons398]

How on earth do you expect to save money while paying Portuguese taxes

[@simplylive2466]

Remember, any job you get here with PT companies will likely pay you a pittance (look up average wages), and you don't get a tax free threshhold AND you will need to pay huge IVA on things you buy with the money you have left. Most people do not save here

[@miguellopes9208]

Unfortunaly Portuguese politicians only have one concern. Stay in power, and because of that they make populist laws ruining the country in the process

[@rhondapetsch9646]

Hi Dave, I would be interested in seeing some real life scenarios with the maths. Also how the other values such as health care or other monthly expenses make this still an attractive place to live (maybe?). Thanks!

[@duck22]

Thank you for the video, and the link to the calculator. According to that calculator, a government pension is never taxed in Portugal. Can you verify this?

[@andresales8589]

Finally!! Have a good trip and never comeback please

[@BenvanBroekhuijsen]

Sorry for ruining the future plans of retires, but this is finally justice. And to be honest, if you have a retirement pension of 75k dollars, even after paying 48% taxes, you still have an income that is way more than the average income here, let's not talk about the minimum wage. In return you get social care when required and you can use the countries infrastructure. If one thinks it is fair to live a luxury life here and using our social system without paying their part, they are delusional. There is a law: if you are not paying for what you are using, someone else is. In this case the local population. Either in tax money or in the fact that a lot of places are no longer afordable for locals to live. That is a damn high price to pay for the luxureous life of a retired expat. It is ok if a couple of people are benefiting from this, but if the numbers keep growing, foreigners are just exploiting the local population. So good the government is finally stoping this discrimination of their own people.

[@nylesgregory2120]

So - this (yours) is one of the best comments I've read on this thread = worthy of merit. It's only weakness is whether or not it is the "Locals," paying the new immigrants benefits vs. the Euro (ECB) and whether the Portuguese tax payer vs. the Euro Bank is the funding source??? You need to ask yourself - how does someone with no money fund someone else? The 2nd point in joining the Euro Economic Community and aquiring all the subsidies that the Portuguese enjoy as a benefit for joining that Euro Group, also needs to be further explored. Too many of us are always focused on one-way views (theirs). Whenever you make Greater economic agreements, you own a new set of consequences that comes along with that new set of economic benefits. I don't know to what degree the ECB is floating Portugal - it's cost to revenues on a GDP basis??? I'd have to research that further. My money says there's probably both. Your argument is that only locals are paying and I suspect that assertion is not accurate. But overall, not a bad comment. As someone who took advantage of the NHR, How could anyone not? That incentive was low-hanging fruit. The mutual benefit is that (as one of Portugals newest residents) I'm now spending all my money in Portugal instead of the USA. So, that too isn't a one-way deal. I also do my best to buy locally for all purchases and labor repairs and home modifications. So, I contribute to local economies all around, including paying my new monthly Portuguese mortgage. The NHR worked and as Dave pointed out, those who took advantage of it and are actually launched/landed and set root here, only represent 0.1% of the total purchases. That amount isn't enough to influence current skyrocketing home prices and therefore points out that the Government is not shooting down at the heart of the target issue to increase wages and stabilize home prices to more affordable levels. This isn't a straight-shot issue. But I really like your comment. Def. has some merit 👍

[@RicKallaherPhotography]

Just discovered your channel tonight & have watched several episodes in quick succession. Great info, entertainingly presented. I fell in love with Lisboa within 2 days of my first visit in 2021. The people and the food are fantastic, and the prospect of a lower cost of living doesn't hurt. I returned in two months after that first visit & bought my apartment with my prime motivation being that I want to leave the U.S. as well as find a more compatible place to live being retired. Now, 2024, is the year i had always planned to start the big move. Taxes had nothing to do with my decision and I would expect to pay taxes anywhere I live. However, to learn that my taxes could shoot up to 48% on top of having to continue paying taxes in the U.S. might prove a true burden in my senior years (and I am already retired). I understand the dilemma, though, for Portuguese citizens. I understand what it is like to have gentrification diminish the abilities to affordable housing. Here in the States I could no longer come anywhere close to affording my own house if I were to try buying it today. 48% is an extremely high tax rate anywhere and I am amazed to learn that the average Portuguese has to pay this. There seems to me that somehow, some compromise that works for all has to be possible. It certainly seems that affordable housing projects should be instituted by the government. Speaking from a historical perspective, I have seen what happens when governments reach too far for tax income. At the rate of 48% the truly do risk driving people to the other countries you mention which, in turn, would hurt the Portuguese economy. It is a fine line to walk but I agree that it should be fair for all.

[@robertwinkel9209]

Great content Dave!

[@briangudas1420]

Hi Dave, love your content and the work you have been doing on improving the quality is paying off. Keep it up. On this topic - I don't think the impact to Americans is really going to be that significant. We are always on the hook to pay US taxes but most countries (including PT) have double taxation treaties with the US. Effectively this means (I think) instead of paying our 40% to the US we will pay that to PT and the US will get less. If we live in PT that seems completely appropriate. Lots of content creators are saying the NHR is gone and the idea of moving to PT is over... but I think if Americans to the math they will realize the NHR is not helping that much anyway. Thanks again

[@nylesgregory2120]

Brian - Portugal (like any country) isn't perfect, but comparing Cost of living expenses here (under the NHR incentives) against those in the U.S.? Portugal beats everyone - hands down, but especially the high cost of living in the U.S. Of greater concern, is Portugal's Population mortality rates are leading to a dying culture. It needs every wealthy immigrant (NOT Air-B-n-B, but Immigrant resident) that it can possibly attract. But pulling the NHR won't solve wage disparity for locals. That's delusion and a year, three, five years out, we'll review and see if the take-away worked. FWIW - California's obscene inflation, high crime and Homelessness were the causes for me to leave and start a new chapter here. I fully support all local economies with my expenditures - including a Portuguese Mortgage. Everything that I do as a new Immigrant, helps to stabilize decline in population AND add revenues to local economies. Again, you're all being lied to. Review the attached link, then stand in front of a mirror. worldpopulationreview.com/countries/portugal-population

[@briangudas1420]

@@nylesgregory2120 You make an excellent point on population and that is a global concern with some very troubling spots in more trouble than is ever discussed. On the local economy I fully agree they need to be supported. Our long term goal is Portugal, Spain or Italy. My only point on the note is that sometimes the NHR going away is presented as the end of the run for Americans immigrating to PT. I am coming to the conclusion it is a minor change at best and still a very viable location for retirement. Thanks bg

[@cristinagouveia7335]

@@nylesgregory2120 finally someone is accepting the fact that he is an immigrant and calling himself by the name and not the fancy expats, digital nomads and others. Thankyou! Just like I said: if you are here to live and contribute to this society, you are very welcome! And that include paying a mortgage and at least living here for over 5 years straight. If you are here as a leech please go elsewhere. The first golden visas were a total robbery forceje Portuguese because it was considered investment with all perks associated if you just bought a house! How is that an investment to the country?! If you come here with 500.000,00€ and buy a property you then resell for double the price and didn’t create a single job in Portugal, you are leeching not investing! And honestly we are far better off without you.

[@nylesgregory2120]

Exactly. And don't get me started on the spirit of "entitlement" that has gripped so many like a disease. Buying your way in with a Golden Visa and then expecting the locals to cater to your whims is fantasy here and if anyone comes in with that attitude, you're in for a cultural awakening. At some point, you have to weigh all the virtues in the balance and either dive in and embrace or leave altogether. I can't believe how lucky I am, but I don't want that word to get out quite frankly. LOL. Everyone I know back in the States is bitter and angry all the time. Screw that. There is a deflated vibe here in Portugal though and almost a sense of hoplessness. Again, I came to join the community and contribute because Portugal allowed me to escape the nightmare that's unfolding in America right now. But if the Portuguese leadership doesn't find a way to fix wage desparity, then they will risk the wrath of the common people. Wage increases has to match inflation over the next decade or face further decline in local population - negative population index (NPI). @@cristinagouveia7335

[@erdnasiul87]

Yes, you really have to love Portugal if you want to live here with this level of taxes! Paying taxes is the basic principle that someone with minimal moral values follows if they want to contribute to the society around them. Not paying taxes is typical behavior of capitalist leeches. Do you know who really loves Portugal? The Portuguese, young and old. What is this distupia where no one lives in Ribeira do Porto anymore? Or that students in Coimbra can't find housing? Not to mention the pornographic prices in Lisbon or the parody that is the Algarve coast. When foreigners are given the benefit of low taxes, does anyone in their right mind believe that they will spend their time and money building a super company, a Microsoft? Of course not! ALMOST 10 YEARS AND THAT DIDN'T HAPPEN! They will limit themselves to taking advantage of the low costs of living, working remotely and enjoying local tourism. When did the best-qualified young Portuguese generation ever benefit from 10% taxes? And doesn't the older generation have the right to retire peacefully in their cities without being expelled by speculators? Goodbye and have a good trip back!

[@carlosdasilva1709]

I’m confused. Are you saying retiring in Portugal on a retirement pension earned abroad, I’ll be taxed abroad and subsequently 48% in Portugal? This wouldn’t make sense as I’m not earning income in Portugal. In my case, I’ll retire from the U.S armed services after 24 years and pay taxes in USA. I would only transfer money into a Portugal bank account to cover daily expenses. I need to ask an tax professional because this change is significant and may alter my retirement location.

[@RushmoorFizzbomb]

Speak to your tax consultant and do not take advice from KZbin. Report back if more than likely you will not pay any pt tax on your military pension. You will need to put it in a pt tax return but it won’t be taxed if your advisor says it is exempt. Failure to do a return can result in a fine even though tax may not be due.

[@flopnumber2765]

So foreigners realize its not worth a move to Portugal if they have to pay equal taxes to those of locals?

[@RushmoorFizzbomb]

@@flopnumber2765 I think that is the case. Rich immigrants in many cases would be financially better off staying put. However due to the steep climb in the progressive tax rate many “foreigners “ will actually be paying a lot more tax percentage wise than the majority of Portuguese people. Like it loath it, that’s the way taxes are in Portugal. Rich foreigners with lots of capital but with a low income would still be welcome. This of course means that they can still push up the property market, something which these tax changes were attempting to avoid.

[@elyseb674]

@carlosdasilva1709 I'm a few years away from retiring from AD too. My O5 paycheck of the month won't be ugly, but was/am hoping i can keep more of what I earned. I wonder if Portugal taxes VA disability?

[@carlosdasilva1709]

@@elyseb674 I'm in the same boat O5 retirement with disability. Portuguese will not tax our pension. If they do I will look at other countries for retirement.

[@FilipeSilva1]

That was a proper "João" pronunciation. Impressed.

[@pedrosoaresmendes]

Finaly. Its time to end this madness of coming to Portugal to profit with costs for the portuguese people. And im sure you love Portugal but in this video you showed that you love it more because of the tax fees. People are acting like bugs

[@tomastex7399]

Pedro, desde 2002, pelo menos, não houve um único ano em que menos de 40k portugueses tivessem emigrado. Portugal não respeita os portugueses, e é só por essa razão que vivemos de maneira tão miserável. O nosso problema é que dado como garantido temos a morte, o amor ao Benfica e que seremos governados pelos mesmos partidos até ao ultimo dia. Temos adversão à mudança, e acreditamos facilmente nos bodes expiatórios que os governos nos dão. A saúde num caos, o mesmo com a educação... "habituem-se" disse o nosso Primeiro Ministro ;)

[@easternzone7869]

Are they profiting with costs? Or are they contributing foreign money into the Portuguese economy?

[@pedrosoaresmendes]

They have beneficts without paying what we portugueses pay and that put them into advantages that we, who allways being here fighting to make this country better, dont have. Its unfair. We need money but money that help us grow not taking us down @@easternzone7869

[@pedrosoaresmendes]

Sim mas o que é que isso tem a ver com o assunto dos estrangeiros terem melhores taxas de impostos que nós. Creio que só agrava essa situação que falaste e que eu concordo plenamente. Por isso mais uma vez o governo tem de só olhar para o dinheiro e olhar pela vida de quem vota neles. Todos sabemos qual é a solução, que é pagar melhor às pessoas mas há uma inércia brutal quanto a isso @@tomastex7399

[@vm6824]

So all the Portuguese working in other countries stay in those countries if taxes hike and wages drop? Hell no, they’d hightail it out of there too! Damn entitled foreigners lol

[@jordanzimmerman7590]

This only applies to new applicants. Existing NHRs have not been canceled.

[@truedarklander]

Bummer. They should apply to all

[@jordanzimmerman7590]

@@truedarklander promises were made and people changed their lives. It would be wrong to renege on this. You are mistaken.

[@maryc1817]

Is this definitive? None of the guidance I’ve seen on this seems to clarify this point..

[@muggywebster1117]

When I was staying there, freaking short term rentals like AirBNB was the thing that was forcing people out of the cities. The Govt should have acted on that sooner to limit AirBNB to sharing a bedroom with the traveler. Too bad this happened to such a great place. I hope the Portuguese can find more affordable housing. I really fell in love with the people and culture. I hope this makes it better for them.

[@kayeb7809]

Hi I just found your channel. Do you mostly talk about mainland Portugal? How about the Azores? My family came from Faial.

[@AaronHuffmanPerson]

I believe if you're willing to move to a country you need to consider yourself one of the residents and that's expecting to pay the same tax rate as them or more. You should love the place, the culture and everything. This is the important part of you being in Portugal, right?

[@cristinagouveia7335]

Thank you

[@vorong2ru]

Locals are paying.pennies from their tiny salaries so why would a foreigner who makes thousands working for a foreign company pay the same % on their big salaries ( which means times more € than locals pay). Noone would come to a country if they had to pay 40-50% taxes. This is an insane rate that doesn't make sense. Considering Portugal is very corrupt and those taxes are being spent very poorly and buildings and roads are in awful state in Lisbon.

[@Mass1veGam3r]

Dream for who come to exploit............ for the locals have been a nightmare to be 2nd class on their own country. Who comes to exploit, stay where you are, who comes to live by the same rules and duties, you're welcome. Those tax breaks for housing and many other things for who come from the outside, made impossible for a large portion of the locals to have a house or even have a living as the costs of everything got inflacted since we started giving away special treatement to foreigners those here get buried with endless taxes and cost of living far above their earning..... TLDR: Exploiters GO HOME, Good People, you're welcome here.

[@dickginkowski6071]

I visited Portugal several times in the last year. Now if I return I will be heartbroken. This is not because I plan to move from the U.S. to Portugal but because of what the people of Portugal suffer in relative silence. I shop regularly in Portuguese stores and the prices tend to be not much lower (and sometimes higher) than in the U.S. I was saddened to hear how low the average salary is. I don't think the tax scheme is necessarily the culprit but similar housing stories abound in the U.S., too. In Portugal I was misled to think that this is a prosperous country and now I will feel that its own people are not. That said, this makes the case for more foreign investment but also some requirement that Portuguese workers share in that instead of being exploited.

[@steveding2006]

I don't think any extra tax collected will not be wasted. You need good politicians who are wise and can do the right things.

[@RickStack]

I’m more than happy to pay higher taxes for healthcare there, and what I think would be a higher quality of life. It’s more if I can literally pull it off financially or not.

[@Solrac-Siul]

It is not just healthcare, it is education, what can mean a lot if you have kids, public safety, social nets that prevent people to fall in the kind of despair that results in violent crimes back in the US, anti toxic dependency measures, public transportation, lower prescription drug prices . When you add all that return from taxes makes the taxation much easier to digest.

[@RickStack]

@@Solrac-Siul I agree 100%. Sorry, when I said a higher quality of live I meant all of those things and more. I value the possibility of having those things in Portugal greatly, and am happy to pay for tax for it. It's really just a question if I can do it financially or not.

[@davidlguerr]

You will pay higher taxes, that is for sure, but do not count with healthcare... At least the public one.

[@livingworkingoutsidebox]

​@@RickStack True it becomes a hard pill to swallow when you reach in your wallet take out a 100 to buy a thing for 25 and have someone take 48 the take another 23. (71)Oh but you do get 4 back. 😢😮 Oh and you will get great medical care fore your heart attack a month later when an appointment opens up. I wonder how many expats will cancel their private insurance 🤔

[@Solrac-Siul]

@@davidlguerr he should. In portugal he will not need to pay 1000 bucks for an ambulance if he is unlucky to slip and break his leg or foot.

[@michaelwoods1924]

We humans like to imagine that places love us as much as we like them, whether we grew up in those places or chose to move there. The nasty comments here are a reminder that the general warmth we feel is but a figment of our imaginations and that the best we can do is to play by the rules and go where the rules benefit us most.

[@julianaferreira1382]

Well, if you love a place that much you should at least be aware of it's problems. I haven't seen nasty comments, only comments explaining the reality of Portugal. And if you, a richer foreigner (when compared to the Portuguese) need a tax break to move there, a place you love that much, what exactly are you bringing to the table? Not that much, only taking advantage of the low wages that cause the low cost of living, the good weather and the services paid by the Portuguese. Stop with the victim mentally, if it was your country we were talking about you would be outraged to have tax breaks for foreigners with higher salaries to buy houses

[@michaelwoods1924]

@@julianaferreira1382 You might not have read enough of the comments and you might be conflating opinions and perceptions of reality with the underlying reality itself. Some of the comments sound as if they are from red-capped yahoos who might like to build a wall around themselves in Portugal. Let them see how isolationism works out. Definitely Canada would be more than happy to take in some Portuguese-educated engineers, doctors, computer scientists, and nurses if the love of Portugal isn't enough to sweeten a return home. Maybe one of these days the US will become freer with its green cards and poach a few of your guys too. It's definitely a challenge for governments and peoples to decide where they want to adjust the settings of their society. Typically people can't see beyond their personal self interest, to see what might negligibly harm them but more significantly contribute to the economic vitality of their society. And any rate, even the part of society that is told it is upper middle class, in many strong self-respecting countries, is struggling, so whatever you're going through and whatever the folks commenting on this are going through I hope it all works out. I'm glad some people do treat comment sections as a form to hash things out and listen for new ideas.

[@vmoses1979]

@@julianaferreira1382 Well said. There is a very individualistic what's in it for me attitude that is quite common amongst so called expats.

[@sao2491]

each time we see a foreigner we just wish they are a tourist and not some cheapskate that is looking to take advantage of our country at our expense. so your love for portugal is proportional to your tax cut?! that made me laugh

[@badrequest5596]

new measures or policies are usually implemented from january, so it's safe to assume this will be implemented fom january 1st onward

[@barretthegerle4870]

Hey Dave! My wife and I are fans of your channel. Looks like we’re getting pinched with the NHR ending! We bought an apartment in Figueira da Foz in January, and were hoping to retire there in about 3 yrs. With the changes we are not sure if the viability now that are money won’t go nearly as far. I guess we just see what happens when the dust settles. Do you have a name of a good tax pro there that can help us with both Portuguese and US taxes that can let us know where we stand and help us navigate the way to live there most efficiently. Muito Obrigato, Buzz & Lisa

[@chinesecrested9528]

Hi, my wife and I are in a similar situation, though we are in the middle of purchasing a house in Figueira Los Vinos. After viewing this video, we are now at odds of completing this purchase with the loss of our deposit. We are both retired on a fixed income, and the tax hit would be too much to bear. Our thoughts are to possibly to stay twice for 90 days on short term visas and return to our house in Asia. Otherwise just bail altogether

[@barretthegerle4870]

@@chinesecrested9528 we might do something similar as far as dividing our time

[@JohnnyBGod]

You can safely ignore essentially every percentage tax rate in this video, as they're either coming from being uninformed or from trying to be inflammatory. The 48% rate only applies to income above 78 834€ in 2023. On that same income, the income below that amount is taxed at an average rate of 36.67%. The 30 000€ salary will pay not 37% of income tax, but 37% on the income between 20 355€ and 30 000€ and an average of 24.48% on the income below 20355, for an effective tax rate of 28.5%. Now, you can still argue that's a lot of tax to pay, but it's basically a 10% difference in either case, which isn't chump change and which is definitely significant enough to merit a mention in the video. You can also ask "Why am I being taxed like I'm freaking loaded?" The thing is... in Portugal, you are. That 30k income puts you above ~85% of workers here. The 75k? Unless you've got 4 children, or something, you're gonna live like a king. Pay your freaking taxes. EDIT: These calculations don't include any deductions to your taxable income, which automatically include a ~4k€ deduction in the least, so your effective tax rate will be quite a bit lower than what's described above.

[@Diogohenriquescaralho]

Incorrect. You’re referring to income made in Portugal not foreign. The simplified regime does not apply

[@JohnnyBGod]

@@Diogohenriquescaralho Everything I can find on the simplified regime only mentions it applies to determining how much income is considered for tax purposes, not how much tax you pay on that income. Can you point to a specific place in the legislation that says otherwise?

[@user-gu5iv2mr6e]

It's sad that Portugal is so corrupt. Their housing "problem" could be solved overnight if the banned AirBNB from large cities and would pass some laws that make sure the massive amount of empty buildings get used for housing instead of investment/speculation/nothing. It seems like a made up "problem" that is extremely easy to solve, but deliberately doesn't get solved, because: corruption. Politicians are cheap in Portugal. PS: the problems they have here have already been solved decades ago in Singapore. Take example.

[@hazelnutbix]

Are these taxes of potentially up to 48% on income earned in Portugal? Does Portugal have any double taxation protection or agreements with other countries? So if you already pay tax on an income generated in another country, do you have to pay tax again on teh same income in Portugal?

[@benchoflemons398]

No, it’s 48% on your worldwide income. Yes Portugal has tax treaties. Yes you would still have to pay the taxes in Portugal *IF* it’s genuinely income

[@hazelnutbix]

@@benchoflemons398 thanks for your reply. So I pay tax on my income generated in the Netherlands. But regardless of how much I pay in tax there, I will get taxed again on the whole amount in Portugal. Double taxation then. I will have to see if there are any treaties with NL. If not, back north we go. Oh well, at least I can ride my bike safely there... in the rain...

[@anaantunes889]

Portuguese, left the country 20 years ago for those exact same reasons. Came back in 2019 to find out the NHR is a bad scheme. Maybe if the government regulated the real estate profession and buying and selling rules, would be a better job. Also, maybe reducing the taxes for everyone would make the market more competitive. People in Portugal pay high taxes and then when they try to get health care, the system is being clogged by people who didn’t contribute with anything for it. When it comes to housing, yes, it is really high, however people tend to forget how abandoned and run down everything used to be. There is good and bad when it comes to this, however everything comes down to nothing being done and regulated properly and when the bomb explodes, trying to save their faces after making tons of money out of it. Nothing has changed in 20 years.

[@anaantunes889]

Forgot to add that I left the country again.

[@seanc2k]

Sadly, I was definitely planning to move there last year until I saw a special about how Portuguese citizens were angry at Americans coming over driving up the cost of living dramatically went up after that. An even bigger plus about Portugal was the possibility of getting EU citizenship. That's just ridiculous though a tax hike from 10% to 48%, I mean WOW!!! Thank you, "Dave in Portugal" for listing other options, and for the video.🙂🙂

[@HopeU2Rwell]

Well said ! 👏👏🏾👏👏🏾

[@sao2491]

cheapskates want to come to Portugal and just kill our vibe. just go wherever... if you dont want to pay the taxes portuguese must... double standards has gone way to far...

[@eddycarpenter8989]

Americans aren't driving up costs here. its greedy Portuguese landlords. charging Manhattan and Los Angeles rent prices for dilapidated apartments from the 1970's

[@oilslick7010]

What' s ridiculous was paying only 10% while benefitting from all the social services to begin with. Foreign immigrants (because that's what they are, not 'ex-pats') should be contributing as well. All I see is entitled Americans wanting some of that sweet socialized medicine etc. and expecting the locals to foot the bill. If this is stopping you from coming then you're not wanted anyway, so I guess it's working already.

[@ricardoamendoeira3800]

48% is the marginal tax rate (the rate on the income after subtracting 80k euros per year). Although I still agree it's high, the solution is lowering it for everyone, not just immigrants.

[@haroina391]

I'm portuguese and I think it is so stupid that there even exists a 48% tax that is literally half a salary like are you kidding me? we portuguese are very envy of other and we prefer to be all poor together and live in misery than let people have their money because they are richer than the rest of society. what the rest of portuguese don't understand is if that person that had that all money they would be willing to risk more and create more private companies so they can have more return but at the same time they will be creating more jobs more competitive market and so better service and products would emerge by increasing the number of jobs in society the salary's would have to increase because there is more company's looking for people, so basically we would live all better, there would be people that there more rich than others, yes but there would be a better chance of anyone becoming richer than there is in the actual society ant that is what the NHR tax was doing for us but now it will happen the opposite and those people will want to leave. We should be rooting for decrease of tax of the rest of the population and not the increase of tax for the NHR

[@on2thenextthing]

In order for a 48% tax to work you have to have the same services as a country like Denmark. If you don't offer the same quality of life, people simply won't come or they will leave. No one wants to hand their money out for free to anyone, especially government.

[@imeandmyself525]

Vota IL🎉😂

[@R._L.]

Finally. Someone was paying attention in the Economics class.🏅

[@isabeljaneiro1642]

Mas isso é disparate, essa é a taxa máxima marginal, ou seja é aplicada ao que sobra do escalão anterior

[@matildesantos4215]

Agree.Most people are either unaware of how the free market works or are just so jealous of the rich that it clouds their judgment .All they want is tax the rich but they don't realize the rich comprises of a small portion of the population .Government is addicted to taxpayer money and it ends up taxing the middle class instead

[@gerardclement3095]

Thanks for the update. Am I missing something? 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 that this change will have on people who simple retires in Portugal. Keep up the good work.

[@iwanttovote6053]

It's apparently just that the taxable income cannot be DOUBLE taxed. You pay X in Canada and Y-X in Portugal. And, I believe, Portugal may look at the various types of income differently re taxes. Expats Portugal has some good info.

[@oggiedoggies]

​@@iwanttovote6053what is expats Portugal? Web site?

[@vm6824]

When all is said and done your average tax rate will climb another 10%. That’s pretty steep. If your marginal tax rate in Canada is 20.5%, you will still be paying another 10% in Portugal due to their ridiculous tax brackets. So if you want 30.5% of your income to go to taxes, have at it!

[@jimponton693]

One thing to note is that 48% is the top marginal tax rate, not the rate you pay on all your income. It's the same as the US; each "tier" of money earned during the year is taxed at a specific rate and as you earn more, the next "tier" of earnings is taxed at a higher rate. If you earned €70k, your blended rate would be about 35% (still high). Also, any cash infusion to the Portuguese economy is a benefit. Many ex-pats earn all their money from foreign sources and are bringing it into Portugal and spending it there (retirees, for example). They're not just recirculating money paid to them by a local employer or the government. So there's a benefit/cost trade-off with the lower NHR tax rate.

[@imeandmyself525]

Not when distorts markets and makes locals life worse

[@vmoses1979]

You can get the same cash infusion from tourists that don't require you to spend on them in return as longterm residents. I think retiree spending is insufficient for the benefits given. I think unless the individual will open a business and hire one or two Portuguese they are still not pulling their weight.

[@savr4est]

Thanks, I guess we will just vacation for a week. No more retirement in Portugal. Italy is a possible retirement place since we have family there.

[@paulocorreia7942]

Good.

[@imeandmyself525]

You should have thought in Italy in first place😊

[@charlesentertainmentcheese6663]

It's a well know fact in Portuguese society, that once fiscal benefits expire, both companies and now also private individuals will leave, because while they claim that they "love Portugal" the truth is they are not from here and will never be.

[@lga908]

First I really do think ending the NHR does justice to locals. But does that mean we couldn't do anything now? Definitely not. In fact this led me to make up my mind and speed up my application so in short term this might be a pull-in factor. One more thing most didn't notice. A law was passed last Saturday allowing an exemption of Capital Gains Tax if at least 50% of the capital gain of the sale of a primary residence is applied to the purchase of another primary residence and that exemption only applies to tax residents. That means now is probably the best moment to sell a home already purchased (which most likely appreciated a lot) and then get a good chunk of discount through tax exemptions on the purchase of a new home and at the same time get last-ditch enrollment in NHR to get the best of both worlds. Once we get enrolled into NHR, we still get a 10-year tax break until 2032. How about 10 years from now? who cares? probably we would have moved on to another country and left Portugal already.

[@jh8599]

What could be more clearly explained is that the tax rate is progressive and thus not actually 48% of your yearly income. It is pretty similar to the Dutch system for that matter and since NHR was for 10 years only, eventually you’d be hit with taxes like any regular person. Expats or retirees not taking this into account have either not thought this through or never intended to stay more than 10 years in the first place. While it is a nice bonus for relocating it should never have been a driving factor and you should ensure you can live with your income based on what comes after 10 years in my opinion. FYI I’m not Portuguese.

Taxes should be paid equally by everyone who lives in a country, and this should be universal! I am retired and I wish I only paid 10% tax, but I don't! It is what it is! There are benefits about living in Portugal, but taxes should NOT be one of them.

[@BigFishbone1]

The taxes shouldnt be the same for everybody, beacause everybody has different kind of brains and brings different profit to society.

@@BigFishbone1 I don't mean the same percentage! Of course the percentage should be equivalent of what is earned. What I mean is everyone should pay taxes, period!

[@davidstoeckl6439]

We visited Portugal for the first time this summer, scouting from the Algarve to Braga to Nazaré. We cannot wait to go back, but we're disheartened the NHR was being scrapped. I'm glad to hear from you that it's announced, but not yet official. If we relocate within the year, we may squeak in under the deadline. Thanx.

[@j.heilig7239]

It’s official, and NHR ends on 12/31/23. That’s official from the government. I have the document if you want it.

[@arthurbosschannel]

Dave, what's the regime for foreigners in Italy? I couldn't find any when I did my researxh on it.

[@msorobia]

Great video mate!