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NHR Qualification Advise  


Posts: 2
 dama
VIP Member
(@dama)
New Member
Joined: 4 years ago

Hello all. My wife and I are considering relocating to Portugal. I am Canadian and my wife is from Denmark. I am 57 and retired from my professional occupation as an engineer in the oil and gas industry and have worked/lived as an expat for the past 25 years in eight different countries. We currently reside in Malaysia where we have lived the past 6 years. I'm considering the NHR scheme in Portugal. Our income is derived from various investment sources in the US and offshore and I also draw income in the form of dividends that I receive from a BVI company I set up last year for day trading which I now do mostly full time. Although the company is BVI based, the source of income is the US as that is where my broker is located. So the income is generated and taxable in the US (but as a non-resident I am tax exempt) and is tax exempt in BVI. Malaysia is my current tax residence and capital gains and foreign sourced income are tax exempt here but I do file an annual tax return. Since Malaysia, BVI and the US are not on the blacklist for the NHR scheme, I presume we should qualify but our situation is somewhat unique and I would like to get professional advise to be sure. Any recommendations would be much appreciated.

3 Replies




Posts: 605
VIP Member
(@munster)
Honorable Member
Joined: 5 years ago

Kennards are a Portuguese based English accountant

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Posts: 154
VIP Member
(@global-nomad)
Estimable Member
Joined: 4 years ago

Try here for some guidelines https://www.blevinsfranks.com/Portugal
There are many tax advisers that specialise in Portugal but I can't recommend any based on experience as yet. One thing to watch out for is if any of your income sources are paid via a trust (this applies to many pension schemes). The tax on trust laws changed in 2015 in Portugal and you can now be hit with 28% tax.

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Posts: 1
Community Member
(@samwad)
New Member
Joined: 1 month ago

Hi Dama,

 

I hope you figured this whole thing out? It's frustrating how hard it is to get any info, I read the Portuguese "Finances" explanation, but it keeps it quite open (depends on the dual trity between PT and US,...etc)

 

I would love to hear from you if you had a hands on experience with this..

I want to invest in some US based stocks and was wondering how would that be taxed under RNH regeime taking into consideration that Capital gains from selling the stocks under the Trity between US and PT should be taxed in the country of residence (in such case PT)... so does that indeed means I will have to pay 28% to PT?

What about Dividends? the trity says 15% will be taxed in US and the rest in PT, does that mean indeed I will pay (god knows how much 30 or 28%) split between US and PT?

 

Would really appreciate a feedback.

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