Tax, Pensions & NHR Advice
Portugal is very well positioned to become a leading retirement haven in Europe. Algarve Senior Living is very experienced in the Non Habitual Resident (NHR) regime which allows most retirees who have not previously been resident in Portugal for the last 5 years, to become resident in the country and receive their pensions tax-free for 10 years.
We have clients from more than 10 countries who have become tax-resident in Portugal and benefit from 0% tax on their pensions. Even though we have more practical, hands-on know-how of the regime, we are not authorised to provide tax or similar advice and so we would always, after an initial analysis of your requirements, refer you to one of our panel of tax and retirement specialists, to ensure that you have at your fingertips years of experience in the field of retirement to Portugal, and all its associated implications.
Algarve Senior Living has quickly positioned itself as one of the leading NHR solution providers. We specialise in assisting clients who need renewable annual rental contracts, which by law must be a minimum of 183 days to comply with NHR requirements but which can also, based on requirements from governments in other countries, be negotiated for longer lets. With the scarcity of long-term and full-year rental accommodation due to a competing (and increasingly successful) summer rental market, we are one of the best options to find suitable NHR-compliant accommodation.
With Portugal not (currently) applying inheritance tax for estate transfers to close relatives, Algarve Senior Living rental solutions also offer a way to avoid Portugal’s one existing wealth tax: the IMI or property tax which is paid annually by home owners.
If you would like a free professional assessment of your personal situation from one of our partner firms, or would like to get an idea of how the tax you save could be used to help offset your monthly costs (in some cases all of them!), please contact us.