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21 sats \ 5 replies \ @Coinsreporter 5 Oct \ parent \ on: Portugal’s Golden Visa Program Now Accepts Indirect Bitcoin Investments bitcoin
When you search for tax free countries, Portugal is there in the tops. Thanks for clarifying.
Wow really! Maybe you get a certain amount of years in return for CBI or golden visa investment ? 🤷♀️ I'm wondering what the catch is.
Is it better to pay the tax than give over half a million? Unless you're some sort of billionaire...
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Can't say man! But what I saw I just said but I believe you not the media.
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from Brave ai
Portugal offers several tax-free benefits and reduced tax rates for foreign residents, particularly through its Non-Habitual Residence (NHR) regime. Here are some key points:
NHR Regime
Introduced in 2009 to attract high-value foreign residents
Offers reduced tax rates and some tax-free exemptions for the first 10 consecutive years in Portugal
Foreign pension income is no longer tax-free, but benefits from a flat 10% tax rate
Tax residents normally pay Portuguese tax on worldwide income, but NHR provides the opportunity to receive foreign income completely free of further Portuguese tax
Tax-Free Income
Under NHR, British expatriates can potentially receive most UK rental income, capital gains on real estate, interest, dividends, and non-Portuguese employment income tax-free
Value-Added Tax (VAT) Refunds
Some VAT paid in Portugal by taxable persons (self-employed and companies) may be refunded
Workers or companies established outside the European Union may claim refunds for VAT paid in Portugal if they are covered by a general turnover tax and there is a reciprocity agreement between Portugal and their country of establishment
Tax-Free Shopping
Tax-free shopping is available in Portugal for tourists and non-residents
To claim a refund, shoppers must obtain a Tax-Free form and have it approved by Customs at the airport or border crossing
E-Taxfree kiosks are located near Customs offices in international airports, ports, and border crossings
Important Notes
The NHR regime is subject to change, and it's essential to consult with a tax professional to ensure compliance with current regulations
The tax-free shopping scheme is only available for non-residents and tourists; residents are subject to standard VAT rates
- Other tax-free benefits and exemptions may be available for specific professions or income sources; consult with a tax professional for more information
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I thought the nhr had ended so i asked brave AI. This is the problem. It can spit out defunct info. It needs to be checked and corroborated.
Also from brave AI:
Portugal's NHR Programme End
Yes, Portugal’s Non-Habitual Residence (NHR) tax regime has ended.
According to the search results, the Portuguese government announced the termination of the NHR regime in 2023, and it will no longer be available for new tax residents as of January 1, 2024. However, individuals who were already enrolled in the NHR regime as of December 31, 2023, will continue to benefit from it for the remainder of their 10-year eligibility period.
Additionally, a new tax incentive scheme has been introduced to attract individuals to Portugal, particularly those involved in scientific research and innovation. A special provision has also been set for individuals who become Portuguese tax residents in 2024.
It’s worth noting that while the traditional NHR regime has ended, some sources mention the possibility of applying for a new tax benefit that replaces it. However, this new scheme is subject to specific requirements and conditions, and its details are not yet fully clarified.
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Thanks for correcting
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