Brexit has brought a lot of uncertainty to the UK, especially for those who were considering moving to an EU country. However, do not fear! There is no reason why starting a new life in Portugal should be any more complicated. In this article, we’ll cover all you need to know about moving to Portugal including; why Portugal might be a good place to move to and what you will need to become a long-term resident there. We also recommend other helpful resources at the end of this article if you are still unsure about whether you should make the leap.
Why should I consider moving to Portugal?
Portugal is an attractive destination for expats because of its stunning landscape, historical cities, friendly people and excellent weather. It may also surprise you to find out that house prices are much lower in Portugal than in the UK! Despite the fact that the UK has now left the European Union, British citizens can still stay in Portugal for 90 days in any six-month period without a visa. For those who are looking at moving to Portugal long term, there are several options to consider.
What kind of visa should I be applying for?
The Golden Visa program is ideal for expats who want to live in Portugal, as there are no visa restrictions and after five years it is possible to become a Portuguese resident! Although some changes have recently come into effect; the scheme is still ideal for British residents – for more information, please find this blog article on our sister company’s website about the 2022 changes.
Another very attractive option is the D7 visa; this allows individuals to reside in Portugal for an extended period of time if they have an income of at least €1,000 per month. The only condition is that you must apply for this visa while you are in the UK, and you must stay in Portugal for at least 16 months during the first two years.
Finally, the Non Habitual Resident Scheme that may allow certain types of foreign income to be exempt from taxation in Portugal for 10 years. However, to be eligible for this scheme, you must be a tax resident, as defined by Portuguese legislation, and have not been taxed as a Portuguese resident in the five years prior to your application.
How do I appoint a fiscal representative?
Since Brexit, you are required under Portuguese law to appoint a fiscal representative if you wish to open a Portuguese bank account, own property or start a business in Portugal as a non-resident in Portugal. However, if you are a Portuguese resident, appointing a fiscal representative is not mandatory. A tax representative can be an individual/collective person who has a fiscal address or head office in Portugal.
How RHJ Law can help
As an expat, it’s important to avoid high tax rates and ensure you have adequate insurance coverage. Portugal is home to some of Europe’s most affordable residency programs, making it an attractive option for many. And with our experience guiding clients through these complex processes, we can expertly navigate Portugal’s most popular path to tax-advantaged residency & citizenship programs.
Whether you’re interested in full or partial tax residency, we can guide you through Portugal’s most popular residence program. Depending on your goals and needs, there are several options available. For example, if you want tax-advantaged residency with minimal responsibilities (such as participating in public work projects), apply for a Portuguese Golden Visa. If you plan to relocate on a long-term basis and integrate into Portuguese society; consider applying for permanent residency under Portugal’s Naturalisation by Investment Program.