The surprise announcement by the Portuguese prime minister that he saw no value for the Non Habitual Resident regime (NHR) and it would cease at the end of 2023 was swiftly followed by the surprise announcement that he would be resigning.  The new rules regarding NHR were to be included in the budget so there...

A recent survey conducted by Portugalist.com among more than 300 prospective expats reveals that Portugal’s announcement that it will end its Non-Habitual Residency (NHR) tax regime could have a significant impact on their decision to move to Portugal. A significant 33% stated that without the NHR benefits, they probably wouldn’t move to Portugal. Another 32%...

Portugal has traditionally been seen as enjoying a low cost of living – a compelling reason for retiring there. But low prices do not apply across the board, and the reality is that – apart from in certain key sectors – Portugal is not a particularly cheap country to live in any more. In common...

UK expats who have lived abroad for many years often remain UK-domiciled and therefore liable to UK Inheritance Tax (IHT). The rate of this tax might be considered penal. It is currently 40% on the total value of the estate of a deceased after the exemptions. It is an additional tax payable on capital accumulated...

Portugal’s Prime Minister, Antonio Costa, has announced that the Non-Habitual Residence Scheme will end at the end of 2023.  The scheme which gave non-EU residents in Portugal tax advantages has been ended by the socialist government due to its impact in driving up house prices following public protests about high house prices. The Non-Habitual Residence...

Check your financial planning is on track to meet your needs and protect your family’s long-term financial security in Portugal this year. A key reason to review your wealth management is to check it’s all up to date. You need to establish whether any changes in tax rules, financial regulations, or your own personal circumstances...

Expats living, working or retiring in Portugal may benefit from opening a bank account in Portugal to receive salaries, pensions etc and to pay regular bills and access cash machines. There are options to open a Portuguese bank, an account with an international bank with branches in Portugal or a mobile/digital bank account. ...

UK inheritance tax follows you around the world since it’s based on domicile, not residence. You could live abroad long term and still be liable for this legacy tax. Here, Blevins Franks look at key facts about UK inheritance tax and domicile and how it could affect your intended heirs. Written...

Many Britons have been putting their retirement plans to sunny southern Europe on hold for two or more years while the UK extracts itself from the EU. Covid lockdowns mean the opportunities to sell a UK home and buy a property in Europe have been limited. The ending of travel restrictions will release pent-up...

There are many financial issues that face those who are looking to move to Portugal. Many of these issues can be dealt with easily, provided you take advice from an expert in both Portuguese tax and tax law in your home country. Something that can save you tax in at home can have the opposite...

What are today’s options for expats with UK pensions moving to Portugal? When it comes to pensions, your long-term financial security is at stake, so you should take extreme care to do what is right for you and your family. Expats also need to consider the tax rules and implications in Portugal or your country...