António Queiroz Martins, managing associate at Morais Leitão, has authored an opinion piece in Aspectos magazine, analysing the tax and residency framework that positions Portugal as one of the most competitive destinations internationally for high net worth individuals (HNWIs).
Portugal leading international rankings for HNWI attraction
Under the title "The ultimate luxury: the freedom to choose", the author draws on Portugal's longstanding tradition of hospitality to address the concrete conditions that make the country attractive to those considering relocating here. Among the factors highlighted, Queiroz Martins points to the absence of a genuine succession tax and a wealth tax, as well as the competitiveness of income taxation.
Planning a move to Portugal: a complex and multidisciplinary process
The article underlines that preparing for the arrival of an HNWI in Portugal is, in practice, a complex and multidisciplinary process, encompassing succession planning, corporate governance, transfers of art collections and a careful analysis of investment and remuneration options.
Golden Visa and RNH 2.0: a combination with significant tax impact
On the visa side, the article covers the various options available to non-EU citizens, including the Golden Visa, which can be combined with the IFICI tax regime, also known as RNH 2.0, as well as the rules applicable to the taxation of cryptoassets. The author recalls that the RNH 2.0 regime allows for a 20% personal income tax rate on dependent or independent employment income, as well as an exemption on foreign-source income, targeting primarily active professionals or individuals performing relevant functions in Portuguese companies.
Portugal and European law: protecting foreign investment
Portugal, as an EU member state, benefits from the freedoms enshrined in European law and has double taxation treaties with around eighty jurisdictions, which can limit the level of taxation imposed in other states.
The article concludes with a key insight: the true luxury of living in Portugal lies in the ability to make informed choices, meet tax obligations under the law, and enjoy, with peace of mind, everything this cosmopolitan and European corner by the sea has to offer.
Read the full article in the attachment below.
