Hi guys, thank you so much for your wonderful comments. I am more than happy to answer all your questions, please put your details into the landing page, that my loving husband has so kindly put together for me 🤗
Hi Manuela! We thank you and your husband for doing a great video on this important topic. We do have a few questions that have not been really addressed in all the searches that we've done. First, are capital gains, interest and dividends earned in the USA taxable in Portugal under NHR? Second are capital gains, interest and dividends earned in Portugal taxable under NHR? Third, is USA Social Security taxable in Portugal?
That will be an awesome help to know, if capital gains, interest and dividend, pension income ( retirement funds) and social security earned in the U.S. are also taxed in Portugal under NHR ? To what extent there’s advantages from NHR and after 10 years what is the question if such benefits: rates continue to apply. Lovely video from the lovely couple, thank you Nick & Ms. Manuela!
Cayman Islands, Monaco, Andorra, Isle of Man, Luxembourg, Mauritius, Bermuda Jersey and the Channel Islands all have advantageous environments. Portugal used to come close to those with the old NHR, but it changed in 2020 and a 10% rate now applies to Foreign pension income. A superb video Nick. Your best to date. Awesome information.
Manuela, I'm so glad that Nick finally let you make a video with him! We want to retire in Portugal as quickly as we can, and will be needing your Services! So happy to have found you! Bookmarking this one!
Well done you two! I love and can recommend Manuela! She is fabulous and the past president of our Rotary (Estoi Palace Rotary). She is even more brilliant than she is beautiful (if that is possible). I love her inside and out and if it were not for this amazing woman I wouldn't have met our fabulous Nick!
Nick, another great video, Veronica said your wife is a great resource and an interesting person, she was correct. Awesome resource and information. I was just researching the NHR and our decision around renting and buying a home. Cash flow and Taxes.
@Algarve Addicts What a lovely lady! I hope you have her on your channel more often ( or maybe she needs her own channel... wink, wink). I'm truly enjoying your content and your take on the Algarve region. It's very helpful as I research/consider relocating to PT. 👏🏽👏🏽
Hi Manuela, been watching Nick’s videos for a couple of months, and only just clicked that he might be connected to you! 😆 Nice to see you here, even tho we’re neighbours! Bjs xx
That was a surprise. I didn't expect Manuela to sound South African! Cool! Thanks for the great info guys. Hope the restrictions life in the UK soon so we can come and explore the Algarve!
Can you please do an updated video please. I’m terrified about long term paying double taxes in Portugal and US after the 10 years. Great info thank you!
Hi Ashley, I'll check with my wife, but it may better for you to get in touch with her directly. Leave me a note through www.algarveaddicts.com/contact
@@AlgarveAddicts Great! I'd like to understand how cryptocurrency assets are taxed in Portugal for expats looking to retire there, and cash out on their crypto assets to fund their retirement. 👍🏼
So glad i got to watch this again. I'm feeling a bit discouraged with the immigration agency I'm working with, you know them. Perhaps things will soon start looking up now.
Nick, thanks so much for hosting this! Your wife answered something which Ive been hunting for months. That NHR residents are taxed 28% on capital gains (SOURCED IN PORTUGAL) Can you please confirm from her (if possible) that is the case and that the 28% doesnt apply to capital gains from other countries. Im looking into the company she works for and its amazing. Much love
@@AlgarveAddicts 🤣 Well done then. We're glad she did. I agree with others; it was lovely to see the sweet rapport between you, as well as benefiting from Manuela's professional, knowledgeable presentation. 👏
Hi, I am addicted to watching your clips and now I am hocked. Thinking of making the leap with plans to purchase something in the Algarve but not sure where to start. I think I can see a road trip coming up sometime before Xmas. Thanks Ted
Thank you, Manuela. Money is clearly a major concern when moving to another country and tax is a something nobody likes paying. I'd be interested in banking and interest rates for a future video if that's something you can shed a light on. I shuddered when you mentioned the traffic in Lisbon and had flashbacks of my twice-weekly drive over the bridge to Barreiro for work, not to mention the almost daily car crashes (not me) when driving home from Lisbon to Parede. When I returned to the UK, first thing I did was buy a bicycle.
Hey Nick & Manuela! Great information! Thanks Manuela!! When you decide to move can I have first refusal on your property! It looks a lovely location!!
Extremely helpful video, thanks. I'm a dual citizen seeking to retire in my ancestral Portugal (I'm Canadian + Portuguese ). I may seek financial advice when the time comes.
Hey Nick. We briefly chatted via comments before. Also used your code for bordr and my wife and I have our NIF's now. Now I need your wifes help. Completed the form at the landing page. Heard so many conflicting explanations about NHR would be nice to get some proper advice and perhaps someone, even if its not her, to help us manage things.
Hi Nick and Manuela. Very informative - thank you. I have two questions for Manuela: Do I understand correctly that if I obtain a D7 visa and acceptance to the NHR scheme, is rental income from the UK and any gains from the eventual sale of the property, which may occur in the near future, exempt from taxation in Portugal for ten years? The second question: Is it correct that gains from the sale of securities, for example, ETFs in my USA brokerage account, are NOT exempt and taxed at 28%? You made a great point at the end about being proactive. I was not prior to coming to Spain, where taxes are high. I won't make that mistake again in Portugal. Also, I will be in touch in the future regarding your professional services, which is also something I have come to more fully appreciate, working with experts.
Yes I do, but Manuela can help you with that as well. Feel free to email me if you'd like www.algarveaddicts.com/contact as the Golden Visa is becoming more limited in scope very soon.
Great video, good to learn more about income and taxes, etc. I live in Canada and retired early at 51 and I am thinking of retiring to Albuferia for the low taxes, better climate and a change.
Thank you for the information which is really helpful. Do you know how foreign earned income is taxed under the NHR? For example working remotely but income coming from doing International consultant work in which case payments come in from the US, Canada and other countries.
@@AlgarveAddicts Thank you! Yes, I've just learnt that it is quite complex as I am doing my research. I'll definitely contact Manuela through the landing page you provided. Thanks again for such a timely and helpful video. :)
thanks a lot .we have plan to move there and i am persion i think persion have similarity in their cultuer .and maybe that will help us to fit faster there i am sure we will need help from someone like you apreciate your sharing and stay safe. from canada.
Nick.... not sure how you managed to find such a wonderful Lady. Either you must have surpassed yourself at choosing the right moment to pop the question or plied Manuela with bottles of wine at dinner which caused her to nod - instead of shake - her head at the wrong time... LOL. Lovely couple - love the contents of the video.
you should have your wife play a larger role in your channel (or help her star her own channel). I am thinking about relocating to Portugal and the tax/finance side of the decision is i the largest part of my decision.
@@AlgarveAddicts Thanks for this link. Hopefully it will be different for Europeans. Hope is a foreign word. Usually you flush it. It always ends in disappointment!
Excellent video! To your point 1: Could you please elaborate on why the dividend income from a foreign (Australian) Pty Ltd would not be subject to 28% tax in Portugal? In Australia the dividend of a small Pty Ltd company is franked at 25% tax.
Hi Claudio, I don't know the answer to that. The best bet is to check with a lawyer. If you'd like I can refer you to mine, email me nick@algarveaddicts.com
I get taxed on my pension in the US and then I will be taxed in Portugal too?. I doubt that the Portuguese tax will erase my US obligation concerning taxes
Great video thanks Nick have dropped an email in landing page look forward to hearing from her , ps the bordr team were really efficient I have just received my nif back 👍
Am I right in thinking that the NHR is NOT appropriate for people moving to retire in Portugal, i.e., live their full-time? There is mention of retiring on an NHR that is confusing.
@@AlgarveAddicts good to have this quick clarification - that was my sense but good to state it here, thanks, as always for great videos with readily accessible helpful information
There is one more benefit I believe: 0% tax on cryptocurrency income! Although I think you have to have owned the crypto for a year. And thanks for a great overview of the tax issues in Portugal, to your lovely wife!
I could be wrong but as far as I know you don't pay any taxes on your crypto, even if it is less than a year. I think only businesses dealing in crypto pay taxes.
I would love to see a video on requirements to move to Portugal. If crypto suddenly makes me rich, can I quit my job in uk, and move to Alfarve? Do I have to have a minimum income? Or is proof of money in the bank enough?
Thank you BOTH for a very informative video. I am a pensioner living in Sydney Australia and tossing between“ Portugal or Spain “ as a retiree ? My income source has already been taxed,would Portugal or Spain still tax me on monthly transfers from Australia? If the answer is YES, which country would be more beneficial for me from a lower tax obligation? Looking forward to hearing from you. Thanks.
@@AlgarveAddicts OMG I have just revisited your video and noticed that you had asked me to leave my e-mail address. I subscribe to so many RUclips channels and frankly find it hard to keep up,however,I’m glad of my revisit to this very important subject. My e-mail address is asumbati@hotmail.com and looking forward to Manuela’s reply. Thanking you in advance. Alex
Awesome video, I'll be saving that link for future reference, as I might need it eventually. Quick question, can a Portuguese citizen that's been living abroad, therefore has not been taxed in Portugal for more than the required 5+ years, also benefit from the NHR status if he decides to go back?
Ni Nick and Manuela, thank you for giving us tips! I have a question, will an American retiree pay 10% tax on his/her pension and also pay tax to the USA IRS. If it is true then that’s not good - double taxation. I think Manuela said money from 401K or passive income from real estate from USA won’t be taxed, the USA IRS will tax them. Thank you.
Great video, thanks for the information!. Nick, your wife mentioned how taxes are applied for dividends, is it the same for when you sell stocks? (realized capital gain taxes)
If you are coming with a blue card visa and residence permit now in July for a high qualified job being an employee, could you maybe apply for NHR before arrival (getting all the documentation needed) or I would have to wait until next year to apply in March and get the benefits of it only in 2022? Thanks for the great content!
Thanks for watching Paulo, I suggest you get in touch with an immigration lawyer (or try and resolve your question with an internet search, a call to the Portugese embassy or look at www.sef.pt ). I can introduce you toy lawyer if you'd like.
Hi Manuela….have you had any experience with helping Canadian's with the NHR, I'm wondering about taxation on income from investments help by a Canadian bank…. is it taxed a source or not taxed at all under the NHR scheme ?
Thank you for the information. I am considering Portugal/Algarve as a possible retirement location in a couple of years from California . Do I understand correctly that my pension from the U.S will only be taxed at 10% as compared to 45% in Valencia Spain under this non habitual visa vs Spain's Non lucrative visa?If so I am really interested in Portugal instead of Spain. I Might require your service. Again wonderful video with great information! On another note how about medical insurance ..cost for private insurance for a family and quality of medical service?
You mention the tax on pensions is 10%…is there a tax free amount before that kicks in? I’m looking at retiring from the uk and we have a zero tax band that means your first £12k is tax free.. Would like to know if there’s a similar rate/banding there
Hi, thanks for the video, very interesting and promising. Do you know if Google Adsense earnings from the ads on my website received outside of Portugal would qualify for NHR tax exemption?
I came across your channel and this topic,great one!I am from South Africa wanting to move to PT and woulk like to ask Manuela a few questions.How can I contact her?
Thank you for the video. Very informative. I'm wondering if my pension will be taxed at 10% in Portugal and also taxed in the U.S.--or possibly the amount paid in Portugal will act as an offset when it's taxed here or visa versa?
Hi Donna, it's best to start a conversation with Manuela by putting your email into the landing page, she'll get back to you next week. www.algarveaddicts.com/Manuela
I am confused because each person that I have talked to seem to have a different answer to my question regarding pension income. I plan to buy property there and my income now is US pension and SSS income which is already taxed here in the US. Will my income be subject to the 10% tax you mentioned?
@@AlgarveAddicts I am not apologizing. I asked the question because you put your wife on the video. If you don't want to answer my question, that's fine.
Hi Bennie, I'd love to answer your question, I just don't know the answer. Sorry. My wife will though and she can help you if you email her through the site. If I remember, I'll try and ask her when she has a moment (sadly I'm super busy and tend to forget things though 🤷😩). I'll try my best.
Dear, I am British and want to get a Portuguese residency. Now after Brexit I am told that if I come to Portugal and arrange NIF, Junta, Social, Bank account, and job contract I can apply for a 5-year residency certificate from Camara/ municipal if I pay tax for 2-3 months. Is this correct? Can you kindly find out for me and help. Thanks
Thank you for all the great information. And you are an adorable, genuine couple. I'm finding the tax situation in Portugal is much better than in Spain. I have a house in Spain and am now contemplating another in Portugal. With a Portugese visa am I able to travel to Spain (and other EU countries) for more than the usual 3 months my American passport allows (of course maintaining 183 days in Portugal)?
Hi Matthew, that's a good question and one I don't know the answer to off the top of my head. A lawyer or relocation specialist would know though. Email me if you'd like to chat to my lawyer. The short answer is no, Schengen visas are valid for three months, I don't think you can go in and out to renew it...
Hi Guys, Thank you for the info. One quick question if i may? If i moved to Portugal say in August this year would my earnings be taxed under the NHR from day one? I understand i would have to be in the country in December and apply for the NHR before 31st March next year, I also believe Crypto is not taxed if it is on investment terms and not traded. Many thanks Kevin
Like many citizens from USA, looking to relocate to Portugal. I’m late 50’s of limited means hoping to return to Europe to retire. Is it possible to live in the Algarve for $1500 US? Prefer to live in older city center if possible to find small apartment T1 or studio is best. Olhao is intriguing. Anywhere with public transport will do if cheaper to live outside of city center. I hope you’ll respond to a person desperate to live somewhere more aligned in my moral beliefs. Europe has always felt like home for me, but more than I can afford generally speaking.
Hi Leslie, you'll struggle to find a place with a monthly rent of less than €500-600 I think. The best thing is to check on Facebook groups and marketplaces and have a look at my rental video. ruclips.net/video/GzLeSkDqkZg/видео.html
I’m Canadian and plan to move to Portugal this year. After I’m 65 I’ll receive my pension, which will be taxed at 25% as a non resident in Canada. Will I pay any tax on to Portugal on top of that?
We are coming to Tavira on April 12-26 to look for an apartment one year lease for the D7 visa. Would we be able to open a bank account while we are there? We are thinking of using bordr to do it but since we will be there what documentation would be needed to open it ourselves?
Hi Suzanne, I'd check with the bank you intend to use. Surprisingly we've found that there is a lot of paperwork involved. I guess you could come and try and if you don't succeed in time you could always do it online with Bordr afterwards.
@@AlgarveAddicts Thank you for your quick reply. We have decided to go with Bordr. We have sold our home and have to be out by June 1st. Bordr takes up to 4 weeks so best to start the process now then hopefully we will find an apartment and then we can apply for our D7 visa as soon as we get back on the 26th of April. Your reply has made us confident we made the right choice. Thanks again. Warm regards from snow covered Canada.
Hi guys, thank for this video. Can you please clarify, if I am coming to Portugal from Canada and will be receving pension - canada has tax treaty with Portugal for 15%, so my canadian pension will already be taxed 15% from Canada, but what happens to the 10% you mention in Portugal. Will it be taxed additional 10 % in Portugal ? Or will I just show proof of Canadian taxation and no tax will be taken in Portugal ? Or if I apply for NHR does it mean that I can somehow get a return of 5% from Portugese govt ? Thanks,
It wasn't clear from your video what you meant when you said to qualify for the portugese tax benefits under the NHR scheme one would need to intend to reside in Portugal for at least 180 days. Does this mean a person would need to have resided in portugal for 180 days BEFORE becoming eligible for the tax benefits in portugal? For example, if I move to Portugal tomorrow and submit all the required application forms for residency straightaway and then immediately sell my cryptos assets, provided I remain / reside within Portugal for the following 180 days would I qualify for zero % CGT? Or would I needed to have already previously resided in Portugal for 180 days first BEFORE selling my crypto assets to then be able to enjoy 0% CGT on my crypto profits?
Hi there, it's best for you to get in touch with Manuela through the landing page and she can give you considered advice for your position. Thanks for watching!
Hey Manuela and Nick. Thank you very much for your valuable information. I have a question: My girlfriend and I would like to emigrate from Switzerland to Portugal (Algarve). I am 47 years old and am receiving a pension as a result of illness and accident. Does that mean that I also have to pay 10 percent tax, or is that only for older retired people? Thank you very much for your great videos!
Thanks for watching, Sensium 👍🏼 I'm sure that would apply, but I would investigate further and speak to a professional like Manuela. You can leave your email on the landing page and she'll get back to you www.algarveaddicts.com/Manuela
Shouldn't you pay taxes if you live in Portugal? The problem in Portugal is that everyone tries to have tax advantages without really contributing to the well-being of everyone in the country, a small part has advantages and the majority unfortunately has to struggle for housing and well-paid work. Everyone is welcome in Portugal but those who have the opportunity must contribute and not try to avoid everything even if there is the possibility. Don't take this as criticism, I really like you both and I am glad that you like living in Portugal but look how many young people had to leave their families and their beloved country because there is no possibility to live in Portugal anymore because the prices are too high due to investors from abroad who only plan for rich pensioners. But in the end it is the fault of politics that makes this possible.
Hi Mark, absolutely, everyone should pay taxes, but by attracting foreign investment more people will be paying taxes (the net effect will be positive) and more people are also spending more money in the country. This is my macro economics 101 talking here, but it feels to me that Portugal has benefitted hugely from the government incentives like NHR and Golden Visa.
Hello both, thank you for making an informative video. I have recently bought an apartment here in Tavira. I will be renting it soon on a long term lease. I have not applied for residency yet but do plan on staying in Portugal. I am French. I have a question about what I should do so I can get tax benefits.. is it advisable to apply for NHR before I start renting my apartment to have tax benefits? When it’s time to declare rental contract on portal financas if I declare without benefits does this mean I will be paying the highest tax in the future and miss out on the 10 year benefits? You mentioned about not being a tax resident in the last 5 years.. I am very new to all this and trying to comprehend everything isn’t the easiest. Happy to get in touch via email/phone. Any advice is greatly appreciated.
Hi guys, thank you so much for your wonderful comments. I am more than happy to answer all your questions, please put your details into the landing page, that my loving husband has so kindly put together for me 🤗
Hi Manuela! We thank you and your husband for doing a great video on this important topic. We do have a few questions that have not been really addressed in all the searches that we've done. First, are capital gains, interest and dividends earned in the USA taxable in Portugal under NHR? Second are capital gains, interest and dividends earned in Portugal taxable under NHR? Third, is USA Social Security taxable in Portugal?
Hey Cornel, thanks for watching! If you put your email into the landing page, she'll answer you next week www.algarveaddicts.com/Manuela
@@AlgarveAddicts Much appreciated! Thanks!
That will be an awesome help to know, if capital gains, interest and dividend, pension income ( retirement funds) and social security earned in the U.S. are also taxed in Portugal under NHR ? To what extent there’s advantages from NHR and after 10 years what is the question if such benefits: rates continue to apply. Lovely video from the lovely couple, thank you Nick & Ms. Manuela!
@@AlgarveAddicts hi, what about capital gains? stocks dividends?
Cayman Islands, Monaco, Andorra, Isle of Man, Luxembourg, Mauritius, Bermuda Jersey and the Channel Islands all have advantageous environments. Portugal used to come close to those with the old NHR, but it changed in 2020 and a 10% rate now applies to Foreign pension income.
A superb video Nick. Your best to date. Awesome information.
Cheers Max 👍🏼 Manuela is glowing 😊
Thank you Max
Does 10% apply for all international money earned? Probably.
Manuela, I'm so glad that Nick finally let you make a video with him! We want to retire in Portugal as quickly as we can, and will be needing your Services! So happy to have found you! Bookmarking this one!
I'm glad it helped, Cheryl 👍🏼
I have been travelled in Europe in the last 10 years... what i found is Portuguese is more friendly and chill people on earth 💕
Cheers Nick. Nice to meet the wife. Her accent is really good.
Yes, she spent a long time in South Africa, thanks for watching 👍🏼
Well done you two! I love and can recommend Manuela! She is fabulous and the past president of our Rotary (Estoi Palace Rotary). She is even more brilliant than she is beautiful (if that is possible). I love her inside and out and if it were not for this amazing woman I wouldn't have met our fabulous Nick!
Heheh, thanks Veronica! I hope all is well out there on the border in Vila Real Santo Antônio. Looking forward to seeing you when the lockdown ends.
Thanks for introducing us to your beautiful wife! Hope she shares more of her expertise and experience.
She'd love to, I should figure out some more content for us to create together.
Nick, another great video, Veronica said your wife is a great resource and an interesting person, she was correct. Awesome resource and information. I was just researching the NHR and our decision around renting and buying a home. Cash flow and Taxes.
Thanks Robert, if you need info particular to your situation check out the landing page www.algarveaddicts.com/Manuela
@Algarve Addicts What a lovely lady! I hope you have her on your channel more often ( or maybe she needs her own channel... wink, wink).
I'm truly enjoying your content and your take on the Algarve region. It's very helpful as I research/consider relocating to PT.
👏🏽👏🏽
Brilliant, thanks so much for watching 👍🏼
Hi Manuela, been watching Nick’s videos for a couple of months, and only just clicked that he might be connected to you! 😆
Nice to see you here, even tho we’re neighbours! Bjs xx
Cool, we're neighbours?
Thank you Nick! Lovely wife and family! As soon as we come there, we will contact Manuela. Awesome video, as always.
Thanks Camelia! 👍🏼
That was a surprise. I didn't expect Manuela to sound South African! Cool! Thanks for the great info guys. Hope the restrictions life in the UK soon so we can come and explore the Algarve!
Yup, she was born in Mozambique and spent about 20 years in Johannesburg before moving here.
What a lovely couple you guys are. Thanks for the great video and information on tax.
You're welcome Hilary, are you guys moving over?
@@AlgarveAddicts Nick we're in the process of selling our business and hoping to be in the Algarve by early next year, crossing fingers and toes.
Good luck! It sounds like a thrilling adventure.
@@AlgarveAddicts Thanks Nick.
Can you please do an updated video please. I’m terrified about long term paying double taxes in Portugal and US after the 10 years. Great info thank you!
Hi Ashley, I'll check with my wife, but it may better for you to get in touch with her directly. Leave me a note through www.algarveaddicts.com/contact
@@AlgarveAddicts ok thank you!
Fantastic information. I'll be in touch! Huge thanks from Australia 🇦🇺
You're welcome Merv, I'm trying to get her back on but she's so busy 😎
@@AlgarveAddicts Great! I'd like to understand how cryptocurrency assets are taxed in Portugal for expats looking to retire there, and cash out on their crypto assets to fund their retirement. 👍🏼
Hi Merv, it's best to chat to her, I think you've already filled out a form, correct?
So glad i got to watch this again. I'm feeling a bit discouraged with the immigration agency I'm working with, you know them. Perhaps things will soon start looking up now.
Who are you working with Roy?
@@AlgarveAddicts Digital Emigre. S. North's folks.
Nick, thanks so much for hosting this!
Your wife answered something which Ive been hunting for months. That NHR residents are taxed 28% on capital gains (SOURCED IN PORTUGAL)
Can you please confirm from her (if possible) that is the case and that the 28% doesnt apply to capital gains from other countries. Im looking into the company she works for and its amazing.
Much love
Hey Zuki, thanks for the compliments 👍🏼 it's best to get in touch with her through the landing page www.algarveaddicts.com/manuela
Helpful information, thanks.
Nice to finally meet Manuela!
Hehe, it was fun doing it. It took a looong time to convince her though 🤣
@@AlgarveAddicts 🤣 Well done then. We're glad she did. I agree with others; it was lovely to see the sweet rapport between you, as well as benefiting from Manuela's professional, knowledgeable presentation. 👏
Great and beautiful interview. I am from Peru and making plans to move to portugal. I would like to receive some more financial advice from Manuela.
Hi Alberto, thanks for watching 👍🏼 The best way is to fill in the form on her landing page. www.algarveaddicts.com/Manuela
Well done. I'm feeling the vibe from now. Thanks for sharing this information Manuela!
Thanks for watching Nigel 👍🏼
Hi, I am addicted to watching your clips and now I am hocked. Thinking of making the leap with plans to purchase something in the Algarve but not sure where to start. I think I can see a road trip coming up sometime before Xmas. Thanks Ted
Road trips are awesome, I've just finished a ten day one! 🙌
Thank you Nick and Manuela👍🏼 🤠✌🏽
You're welcome Ryan, I need to convince her to come back on. She has such a wealth of information.
Very helpful discussion. So much to think about if I do make the leap to retire in Portugal. Thanks so much!
Thanks for watching Mike👍🏼
Thank you, Manuela. Money is clearly a major concern when moving to another country and tax is a something nobody likes paying. I'd be interested in banking and interest rates for a future video if that's something you can shed a light on. I shuddered when you mentioned the traffic in Lisbon and had flashbacks of my twice-weekly drive over the bridge to Barreiro for work, not to mention the almost daily car crashes (not me) when driving home from Lisbon to Parede. When I returned to the UK, first thing I did was buy a bicycle.
Heheh, bicycles are the best! Thanks for watching, Glenn 👍🏼
Amazingly helpful Manuela and Nick! Thank you so much!
She is amazing, isn't she Chris? 😁
Nick, again, great information! We loved meeting Manuela and hope to see more collaborations!
Thanks Nevin, it was a no brainer with her being my wife :)
Manuela Thankyou for your lovely candour and sharing your knowledge! 🌟🌟🌟
Thanks for watching Soo👍🏼
Hey Nick & Manuela!
Great information! Thanks Manuela!! When you decide to move can I have first refusal on your property! It looks a lovely location!!
Hehe, sure thing Tony!
Extremely helpful video, thanks.
I'm a dual citizen seeking to retire in my ancestral Portugal (I'm Canadian + Portuguese ). I may seek financial advice when the time comes.
Excellent stuff, thanks for commenting 👋🏻
Great Video Nick it's so helpful for people moving to Portugal 🇵🇹.
Thanks
Hey Nick. We briefly chatted via comments before. Also used your code for bordr and my wife and I have our NIF's now. Now I need your wifes help. Completed the form at the landing page. Heard so many conflicting explanations about NHR would be nice to get some proper advice and perhaps someone, even if its not her, to help us manage things.
Great stuff, thanks Gareth, her team will get back to you on Monday I'm sure. Let me know if they don't, I know where she lives. 🤣
Hi Nick and Manuela. Very informative - thank you.
I have two questions for Manuela: Do I understand correctly that if I obtain a D7 visa and acceptance to the NHR scheme, is rental income from the UK and any gains from the eventual sale of the property, which may occur in the near future, exempt from taxation in Portugal for ten years? The second question: Is it correct that gains from the sale of securities, for example, ETFs in my USA brokerage account, are NOT exempt and taxed at 28%?
You made a great point at the end about being proactive. I was not prior to coming to Spain, where taxes are high. I won't make that mistake again in Portugal. Also, I will be in touch in the future regarding your professional services, which is also something I have come to more fully appreciate, working with experts.
Hi Randy, thanks for commenting, it's best to go through the landing page www.algarveaddicts.com/Manuela
I have just written to Manuela. Nick, do you have anyone you trust that can help with golden visas? Thanks for the great info.
Yes I do, but Manuela can help you with that as well. Feel free to email me if you'd like www.algarveaddicts.com/contact as the Golden Visa is becoming more limited in scope very soon.
@@AlgarveAddicts bless you Nick
Great video, good to learn more about income and taxes, etc. I live in Canada and retired early at 51 and I am thinking of retiring to Albuferia for the low taxes, better climate and a change.
Great stuff Bill. I'm actually about to make a video on Albufeira. Good timing 👍🏼
Thank you for the information which is really helpful. Do you know how foreign earned income is taxed under the NHR?
For example working remotely but income coming from doing International consultant work in which case payments come in from the US, Canada and other countries.
Hi Ales, each case is pretty different, best thing is to drop your details into her landing page www.algarveaddicts.com/Manuela
@@AlgarveAddicts Thank you! Yes, I've just learnt that it is quite complex as I am doing my research. I'll definitely contact Manuela through the landing page you provided.
Thanks again for such a timely and helpful video. :)
You're welcome Ales, we're both happy that it could help you 👍🏼
thanks a lot .we have plan to move there and i am persion i think persion have similarity in their cultuer .and maybe that will help us to fit faster there i am sure we will need help from someone like you apreciate your sharing and stay safe. from canada.
Good luck on the move Suzanne.
Nick.... not sure how you managed to find such a wonderful Lady. Either you must have surpassed yourself at choosing the right moment to pop the question or plied Manuela with bottles of wine at dinner which caused her to nod - instead of shake - her head at the wrong time... LOL. Lovely couple - love the contents of the video.
Hahaha, love it! I asked her to marry me while she was chopping onions and she cried 🤣
@@AlgarveAddicts LOL! Stay safe...
Wonderful video with great information...thank you, Manuela!
you should have your wife play a larger role in your channel (or help her star her own channel). I am thinking about relocating to Portugal and the tax/finance side of the decision is i the largest part of my decision.
Thanks John, I'd love her to be in more videos but she is the busiest person I know, I'm begging her to take a holiday.
Perfect information. I´ll keep this in mind..
Hey Piotr, have a great weekend!
@@AlgarveAddicts Hey Nick. Great content. Any news about openning borders end of this month?
@@piotr6563 This is the best info I've found www.theportugalnews.com/news/2021-03-12/portugal-to-welcome-brits-from-17-may/58712
@@AlgarveAddicts Thanks for this link. Hopefully it will be different for Europeans. Hope is a foreign word. Usually you flush it. It always ends in disappointment!
This is great info, thanks. Will be in contact with some questions.
Cheers JH👍🏼
Excellent video! To your point 1: Could you please elaborate on why the dividend income from a foreign (Australian) Pty Ltd would not be subject to 28% tax in Portugal? In Australia the dividend of a small Pty Ltd company is franked at 25% tax.
Hi, it's best to get in touch with Manuela. Drop me a line through www.algarveaddicts.com/contact and I'll connect you.
God bless you and your lovely family 👪...much appreciated your contents ❤❤❤❤❤❤👍🙏🇨🇦
Thanks Sam👍🏼
Many thx found this greatly informative, will get hold of Manuela 🙏
Thanks for watching, Julie 👍🏼
So let's face it, this is an infomercial, and that's fine, but I would like to hear qualificatons along with that
If you need professional advice, get in touch with her. She'll tell you how qualified she is.
Very interesting and useful. I understand that visa D-7 has some components of tax benefits also, I am right? Greetings from Mexico.
Hi Claudio, I don't know the answer to that. The best bet is to check with a lawyer. If you'd like I can refer you to mine, email me nick@algarveaddicts.com
@@AlgarveAddicts Cheers! Very best and have a great Sunday
Fantastic...thank you guys so much, that's a great advice!! Obrigado!
Denada Márcio 👍🏼
I get taxed on my pension in the US and then I will be taxed in Portugal too?. I doubt that the Portuguese tax will erase my US obligation concerning taxes
I doubt it too, but check with the professionals, www.algarveaddicts.com/Manuela
Great video thanks Nick have dropped an email in landing page look forward to hearing from her , ps the bordr team were really efficient I have just received my nif back 👍
Wow, thats great news! It's awesome getting your feedback 👍🏼
Am I right in thinking that the NHR is NOT appropriate for people moving to retire in Portugal, i.e., live their full-time? There is mention of retiring on an NHR that is confusing.
Retirees are the people that most benefit from the NHR. Best to contact Manuela through the landing page www.algarveaddicts.com/manuela
@@AlgarveAddicts good to have this quick clarification - that was my sense but good to state it here, thanks, as always for great videos with readily accessible helpful information
Wow I could save a ton of money when I move there!!
You possibly could!
Its clear now way are you successful in portugal
Manuela
Thank you, Hanan?
Would the nrh apply to passive income from crypto currency staking?
Some crypto specialists have moved to Portugal specifically because of the tax environment.
Hi, T Ta, it’s my current understanding that buying, trading Crypto is Tax free.
Hope I’m right?
You are right Jon. For now!
@@AlgarveAddicts Yes, I could imagine that the state would like to get their hands on some of that enormous crypto gains recently achieved.
Hello Nick, is this a live video? Thanks.
Hi Mohammed, no it was a Premiere. I'm not really sure how it works 😊
@@AlgarveAddicts Thank you.
There is one more benefit I believe: 0% tax on cryptocurrency income! Although I think you have to have owned the crypto for a year.
And thanks for a great overview of the tax issues in Portugal, to your lovely wife!
Thanks for watching Monty 😊 You are correct about crypto, but I don't think you even need NHR for that?
@@AlgarveAddicts Oh, really? I didn't know that. Any chance of a more in depth video on this? I'm sure many would be interested in this topic.
Email me and I can put you in touch with my accountant, he has great info. nick@algarveaddicts.com
I could be wrong but as far as I know you don't pay any taxes on your crypto, even if it is less than a year. I think only businesses dealing in crypto pay taxes.
I would love to see a video on requirements to move to Portugal. If crypto suddenly makes me rich, can I quit my job in uk, and move to Alfarve? Do I have to have a minimum income? Or is proof of money in the bank enough?
Thank you BOTH for a very informative video. I am a pensioner living in Sydney Australia and tossing between“ Portugal or Spain “ as a retiree ? My income source has already been taxed,would Portugal or Spain still tax me on monthly transfers from Australia?
If the answer is YES, which country would be more beneficial for me from a lower tax obligation?
Looking forward to hearing from you. Thanks.
Hi Alexander, please leave your email in the landing page and Manuela will get back to you www.algarveaddicts.com/manuela
@@AlgarveAddicts
OMG I have just revisited your video and noticed that you had asked me to leave my e-mail address. I subscribe to so many RUclips channels and frankly find it hard to keep up,however,I’m glad of my revisit to this very important subject.
My e-mail address is asumbati@hotmail.com and looking forward to Manuela’s reply.
Thanking you in advance. Alex
Sorry Alexander, you need to submit your email address into the page www.algarveaddicts.com/Manuela
@@AlgarveAddicts
I have just put through my request. Thank You
Great video. For someone who lives in the Azores and wants to check out the Algarve which city would you recommend?
Thanks Alan, I'd recommend you check out my "Where to live in the Algarve" video 👍🏼
In the UK you get a £12500 tax allowance, is there anything similar in Portugal
10 years reduced tax with the NHR...
Hi Guys , Is there a personal allowance threshold before tax is applied to receiving your UK pension in Portugal ?
Hi Claude, I suggest you get in touch with the experts www.algarveaddicts.com/Manuela
Awesome video, I'll be saving that link for future reference, as I might need it eventually.
Quick question, can a Portuguese citizen that's been living abroad, therefore has not been taxed in Portugal for more than the required 5+ years, also benefit from the NHR status if he decides to go back?
I'm pretty sure that Portuguese citizen could, but please don't take my word for it, HP. I'd consult a proper financial advisor like my wife.
@@AlgarveAddicts I shall do just that. Thanks!
What Australia don't have that Portugal have?
It's tough to compare Australia to Portugal, two really different places, cultures, histories and geographies.
Thanks for the great content.
You're welcome, thanks for watching 👍🏼
Ni Nick and Manuela, thank you for giving us tips! I have a question, will an American retiree pay 10% tax on his/her pension and also pay tax to the USA IRS. If it is true then that’s not good - double taxation. I think Manuela said money from 401K or passive income from real estate from USA won’t be taxed, the USA IRS will tax them. Thank you.
Hi Sue, I wish I could answer but Manuela will know. Drop her a line through www.algarveaddicts.com/Manuela
Great video, thanks for the information!. Nick, your wife mentioned how taxes are applied for dividends, is it the same for when you sell stocks? (realized capital gain taxes)
Hi Jose, No it's not the same, she can definitely help you here. Drop your email into the landing page www.algarveaddicts.com/manuela
@@AlgarveAddicts great video! I sent you some messages!
Thanks Patrick, I'm sure she'll get back to you as soon as she can.
If you are coming with a blue card visa and residence permit now in July for a high qualified job being an employee, could you maybe apply for NHR before arrival (getting all the documentation needed) or I would have to wait until next year to apply in March and get the benefits of it only in 2022? Thanks for the great content!
Thanks for watching Paulo, I suggest you get in touch with an immigration lawyer (or try and resolve your question with an internet search, a call to the Portugese embassy or look at www.sef.pt ). I can introduce you toy lawyer if you'd like.
Great video and beautiful wife, thanks 🙏
Thanks for watching Kevin👍🏼
Thank you! Very helpful!
She's a helpful lady 😊
Really interesting- thank you.
You're welcome Mark 👍🏼
Hi Manuela….have you had any experience with helping Canadian's with the NHR, I'm wondering about taxation on income from investments help by a Canadian bank…. is it taxed a source or not taxed at all under the NHR scheme ?
She has had experience with Canadian clients, best to drop your email into the landing page so she can help you: www.algarveaddicts.com/manuela
Whoops. I just saw that others have asked the similar questions. I am subscribed to Algarve Addicts, so you have my email. Cheers.
Thanks for the new video!
You're welcome John, thanks for watching 👍🏼
Thank you for the information. I am considering Portugal/Algarve as a possible retirement location in a couple of years from California . Do I understand correctly that my pension from the U.S will only be taxed at 10% as compared to 45% in Valencia Spain under this non habitual visa vs Spain's Non lucrative visa?If so I am really interested in Portugal instead of Spain. I Might require your service. Again wonderful video with great information! On another note how about medical insurance ..cost for private insurance for a family and quality of medical service?
Hi Kunthea, the best thing is to sign up for my free email newsletter, it'll answer most of your questions. --> www.algarveaddicts.com
You mention the tax on pensions is 10%…is there a tax free amount before that kicks in?
I’m looking at retiring from the uk and we have a zero tax band that means your first £12k is tax free..
Would like to know if there’s a similar rate/banding there
Under NHR it's all taxed at 10%. The best thing is to organize a call with Manuela through www.algarveaddicts.com/contact
Hi, thanks for the video, very interesting and promising. Do you know if Google Adsense earnings from the ads on my website received outside of Portugal would qualify for NHR tax exemption?
Yup, I'm sure it would. It's passive income after all.
I came across your channel and this topic,great one!I am from South Africa wanting to move to PT and woulk like to ask Manuela a few questions.How can I contact her?
Hi Lizbe, please fill in my contact form and I'll forward you onto her. www.algarveaddicts.com/contact
Thanks Manuela and Nick for all the great information. Nice job Nick with the other than being married to me, what do you love about the Algarve? 😂😂
Hehehe, thanks Larry!
Lovely couple!
Thanks Tom👍🏼
Great information thank you for sharing.
You're welcome and thanks for watching, Richard 👍🏼
What parts of Portugal you didn't visit?
I've visited all over Portugal but I'd love to spend more time in the north east near Mirandela.
Hey Nick. Any news about openning borders end of this month?
Hey Piotr, I think I answered this for you already. Keep checking Portugal Resident and Portugal News.
Thank you for the video. Very informative. I'm wondering if my pension will be taxed at 10% in Portugal and also taxed in the U.S.--or possibly the amount paid in Portugal will act as an offset when it's taxed here or visa versa?
Hi Donna, it's best to start a conversation with Manuela by putting your email into the landing page, she'll get back to you next week. www.algarveaddicts.com/Manuela
I'd be curious about this as well. We are looking at moving to Portugal from the U.S. in 2025 with some scouting trips prior to then.
Hi Stephen, that's what the NHR promises, but check with Manuela first.
I am confused because each person that I have talked to seem to have a different answer to my question regarding pension income. I plan to buy property there and my income now is US pension and SSS income which is already taxed here in the US. Will my income be subject to the 10% tax you mentioned?
Hi Bennie, I suggest you book a call with an expert. Drop your email into www.algarveaddicts.com/Manuela
@@AlgarveAddicts Sorry I thought you were an expert in tax matters like you said.
Haha, no need to apologize Bennie. One thing I have never said is that I am an expert in tax matters. My wife is though.
@@AlgarveAddicts I am not apologizing. I asked the question because you put your wife on the video. If you don't want to answer my question, that's fine.
Hi Bennie, I'd love to answer your question, I just don't know the answer. Sorry. My wife will though and she can help you if you email her through the site. If I remember, I'll try and ask her when she has a moment (sadly I'm super busy and tend to forget things though 🤷😩). I'll try my best.
Dear, I am British and want to get a Portuguese residency. Now after Brexit I am told that if I come to Portugal and arrange NIF, Junta, Social, Bank account, and job contract I can apply for a 5-year residency certificate from Camara/ municipal if I pay tax for 2-3 months. Is this correct? Can you kindly find out for me and help. Thanks
It sounds a bit odd. Research the D7 visa and have a chat with Samantha www.algarveaddicts.com/d7
Thank you for all the great information. And you are an adorable, genuine couple. I'm finding the tax situation in Portugal is much better than in Spain. I have a house in Spain and am now contemplating another in Portugal. With a Portugese visa am I able to travel to Spain (and other EU countries) for more than the usual 3 months my American passport allows (of course maintaining 183 days in Portugal)?
Hi Matthew, that's a good question and one I don't know the answer to off the top of my head. A lawyer or relocation specialist would know though. Email me if you'd like to chat to my lawyer. The short answer is no, Schengen visas are valid for three months, I don't think you can go in and out to renew it...
Hi Guys, Thank you for the info. One quick question if i may? If i moved to Portugal say in August this year would my earnings be taxed under the NHR from day one? I understand i would have to be in the country in December and apply for the NHR before 31st March next year, I also believe Crypto is not taxed if it is on investment terms and not traded. Many thanks Kevin
Hi Kevin, it's best to email Manuela that question. You can get in touch with her on www.algarveaddicts.com/manuela
Great, very useful information. Thanks guys 👍😎
'weird: she says... however, he sticks with the dialogue and it works!
Like many citizens from USA, looking to relocate to Portugal. I’m late 50’s of limited means hoping to return to Europe to retire. Is it possible to live in the Algarve for $1500 US? Prefer to live in older city center if possible to find small apartment T1 or studio is best. Olhao is intriguing. Anywhere with public transport will do if cheaper to live outside of city center. I hope you’ll respond to a person desperate to live somewhere more aligned in my moral beliefs. Europe has always felt like home for me, but more than I can afford generally speaking.
Hi Leslie, you'll struggle to find a place with a monthly rent of less than €500-600 I think. The best thing is to check on Facebook groups and marketplaces and have a look at my rental video. ruclips.net/video/GzLeSkDqkZg/видео.html
I’m Canadian and plan to move to Portugal this year. After I’m 65 I’ll receive my pension, which will be taxed at 25% as a non resident in Canada. Will I pay any tax on to Portugal on top of that?
Hi Leili, please get in touch with Manuela through the landing page www.algarveaddicts.com/manuela
Very informative thank you
Thanks for watching Karishma 👍🏼
What is the tax for Canadian pension for a D7 resident.
As far as I've heard it's 20% with NHR but I'd suggest you seek professional advice.
We are coming to Tavira on April 12-26 to look for an apartment one year lease for the D7 visa. Would we be able to open a bank account while we are there? We are thinking of using bordr to do it but since we will be there what documentation would be needed to open it ourselves?
Hi Suzanne, I'd check with the bank you intend to use. Surprisingly we've found that there is a lot of paperwork involved. I guess you could come and try and if you don't succeed in time you could always do it online with Bordr afterwards.
@@AlgarveAddicts Thank you for your quick reply. We have decided to go with Bordr. We have sold our home and have to be out by June 1st. Bordr takes up to 4 weeks so best to start the process now then hopefully we will find an apartment and then we can apply for our D7 visa as soon as we get back on the 26th of April. Your reply has made us confident we made the right choice. Thanks again. Warm regards from snow covered Canada.
It would be wonderful if you used mylink for Bordr so I could get a little kickback, otherwise no problems. www.bordr.io/pricing-packages?via=nick
Hi guys, thank for this video. Can you please clarify, if I am coming to Portugal from Canada and will be receving pension - canada has tax treaty with Portugal for 15%, so my canadian pension will already be taxed 15% from Canada, but what happens to the 10% you mention in Portugal. Will it be taxed additional 10 % in Portugal ? Or will I just show proof of Canadian taxation and no tax will be taken in Portugal ? Or if I apply for NHR does it mean that I can somehow get a return of 5% from Portugese govt ? Thanks,
Hi Val, please get in touch with Manuela directly for financial advice www.algarveaddicts.com/manuela
It wasn't clear from your video what you meant when you said to qualify for the portugese tax benefits under the NHR scheme one would need to intend to reside in Portugal for at least 180 days.
Does this mean a person would need to have resided in portugal for 180 days BEFORE becoming eligible for the tax benefits in portugal?
For example, if I move to Portugal tomorrow and submit all the required application forms for residency straightaway and then immediately sell my cryptos assets, provided I remain / reside within Portugal for the following 180 days would I qualify for zero % CGT? Or would I needed to have already previously resided in Portugal for 180 days first BEFORE selling my crypto assets to then be able to enjoy 0% CGT on my crypto profits?
Hi there, it's best for you to get in touch with Manuela through the landing page and she can give you considered advice for your position. Thanks for watching!
I am looking for a lawyer for the cbi . I would love a referral . Im from the states.
Hi Eric, please get in touch and I can introduce you www.algarveaddicts.com/contact
Hey Manuela and Nick. Thank you very much for your valuable information. I have a question:
My girlfriend and I would like to emigrate from Switzerland to Portugal (Algarve).
I am 47 years old and am receiving a pension as a result of illness and accident. Does that mean that I also have to pay 10 percent tax, or is that only for older retired people? Thank you very much for your great videos!
Thanks for watching, Sensium 👍🏼 I'm sure that would apply, but I would investigate further and speak to a professional like Manuela. You can leave your email on the landing page and she'll get back to you www.algarveaddicts.com/Manuela
Shouldn't you pay taxes if you live in Portugal? The problem in Portugal is that everyone tries to have tax advantages without really contributing to the well-being of everyone in the country, a small part has advantages and the majority unfortunately has to struggle for housing and well-paid work. Everyone is welcome in Portugal but those who have the opportunity must contribute and not try to avoid everything even if there is the possibility. Don't take this as criticism, I really like you both and I am glad that you like living in Portugal but look how many young people had to leave their families and their beloved country because there is no possibility to live in Portugal anymore because the prices are too high due to investors from abroad who only plan for rich pensioners. But in the end it is the fault of politics that makes this possible.
Hi Mark, absolutely, everyone should pay taxes, but by attracting foreign investment more people will be paying taxes (the net effect will be positive) and more people are also spending more money in the country. This is my macro economics 101 talking here, but it feels to me that Portugal has benefitted hugely from the government incentives like NHR and Golden Visa.
You should start making videos directed by people comments.
Hello both, thank you for making an informative video. I have recently bought an apartment here in Tavira. I will be renting it soon on a long term lease. I have not applied for residency yet but do plan on staying in Portugal. I am French. I have a question about what I should do so I can get tax benefits.. is it advisable to apply for NHR before I start renting my apartment to have tax benefits? When it’s time to declare rental contract on portal financas if I declare without benefits does this mean I will be paying the highest tax in the future and miss out on the 10 year benefits? You mentioned about not being a tax resident in the last 5 years.. I am very new to all this and trying to comprehend everything isn’t the easiest. Happy to get in touch via email/phone. Any advice is greatly appreciated.
Hi Xazi, I'd suggest getting in touch with Manuela through the link provided.
Thank u nick....
You're welcome Heidi 👍🏼