The content on this channel is for educational and information purposes only. It should not be relied on as advice, and you should always take qualified advice before making any changes to your personal position. Whilst I have experience in the financial and tax industry, this channel is for recreational purposes and is not an advertisement for my business or services. Its purpose is to share quality information. Whilst every care is taken as to the accuracy of the information in these videos, the information provided is based on the understanding of the rules at the time, and rules can change with little or no notice.
Whilst I cover a wide range of issues on the channel, in my professional role I specialise in tax efficient investments, UK and overseas pensions, estate planning, and wealth management for expatriates based in Portugal. Unfortunately, I do not offer visa or tax return services, nor can I assist US nationals. *Thank you for your support and understanding. I hope to continue to provide you with valuable information to help you with your life in Portugal. If you have any suggestions for content you would like to hear, please let me know*
Hi Mark, nice and informative view. Would you please consider making a video on how NHR taxes apply to Americans who’s income come from social security (pension), capital gains on stocks in account in investment accounts the USA, interest income (e.g CDs, money markets) and dividend income from holding stocks in USA accounts. No income from sources in Portugal as fully retired couple. Thanks for considering. Are your clients only from the UK expats community? Cheers.
Hi Mohammed. Thank you for your suggestion and of course, I will be happy to do a new video on that subject. My clients are generally from the UK, although we do have other nationalities as clients too. Thanks again and best wishes. Mark
@@taxfinancialadviceinportug4745 Many thanks, Mark. What city are you located in Portugal? We are coming for a trip later this year to check Portugal for a place to retire from California. Even though I saw many videos about Portuguese NHR, I still find it confusing when it comes to what taxable and what is under the NHR program. For example, I saw videos that dividend earned in USA accounts are taxable in Portugal but recently I say a video that the Portuguese court ruled that they will not be taxed going forward in Portugal if they are taxed in the country of origin like the USA or the UK. So NHR for retirees is still confusing for me even though it is suppose to be simple. Thanks again. 🥂
@@mohammedsharif2651 Hi Mohammed. We're based in Loule, in the Algarve. There is a lot of confusion out there surrounding Non Habitual Residence and tax in general. The basic premise of the scheme is that, in order for income to be tax free here, it has to be taxable somewhere else
Thanks for the informative video! How can I check / make sure that my job qualifies as 'high value activity" before accepting a relocation to Portugal? I am a sales consultant (manager level) working for an international company. I would be ending my Dutch contract and getting a Portuguese contract within the same global company, but need to make sure I qualify for the reduced income tax before I decide to make such a move. I have already checked the list of professions but its not very clear if my job fits into any of the categories. Thank you in advance.
Hello sir. What if your wife was born in Portugal and is still a Portuguese citizen and I obtain citizenship through marriage. What would we qualify for? She is a citizen through naturalization, I believe? So will we be taxed like normal native citizens of Portugal? Thank you in advance if you choose to answer this question. We are moving to Portugal next year because my wife is done with America and wants to go back to Portugal to be close to her family, her dad, her cousins, everyone. we have a retirement investments that won’t be touched until we reach 65 years old. We are only in our mid-40s. We fully intend to find work, or create work as in a restaurant, or some thing of our own to create passive income. I’ll go peel potatoes for a minimum wage at a local restaurant if I have to.
Your wife as an EU citizen can qualify for residency based on her nationality, and then you can apply for the spousal reunification visa (D6) as the partner of an EU citizen. However, due to the newly introduced proposals to parliament, it is unlikely the NHR regime will still be in place by that point. I'm going to make a new video on this issue hopefully this week. Best wishes. Mark
Hi Mark....Here's my scenario. I am single.Approaching 60 years of age. I am not attached to any pension scheme. I am an online Futures Trader, who does not have a Lump Sum and no other Assets in the UK. I currently rent a property. All I have is my Trading Account, which is domiciled in the UK. --------------------- I presume therefore, that I must Close that above-mentioned Account and open a new one in Portugal and also have a Portugal Bank Account BEFORE I apply for NHR. Can I do this, BEFORE I leave the UK as a British Passport Holder ? I would then try to Rent a property there. It's as simple as that, for me. Does this sound like a Plan, that can work ?
Hi Zarp. You do not need to close the UK accounts and you do not need a Portuguese bank account either, although it would make life easier to have a local bank account. You need to take personal advice on your situation as the futures trading is likely to be subject to capital gains tax of 28% here, and possibly treated as business income at higher tax rates i.e. it may not sync for the Non Habitual Residence scheme. Best wishes. Mark
IMPORTANT - PLEASE READ REGARDING THIS CHANNEL
The content on this channel is for educational and information purposes only. It should not be relied on as advice, and you should always take qualified advice before making any changes to your personal position.
Whilst I have experience in the financial and tax industry, this channel is for recreational purposes and is not an advertisement for my business or services. Its purpose is to share quality information.
Whilst every care is taken as to the accuracy of the information in these videos, the information provided is based on the understanding of the rules at the time, and rules can change with little or no notice.
Whilst I cover a wide range of issues on the channel, in my professional role I specialise in tax efficient investments, UK and overseas pensions, estate planning, and wealth management for expatriates based in Portugal. Unfortunately, I do not offer visa or tax return services, nor can I assist US nationals.
*Thank you for your support and understanding. I hope to continue to provide you with valuable information to help you with your life in Portugal. If you have any suggestions for content you would like to hear, please let me know*
Great information Mark
Thanks very much 🙂
Always take personal advice as to how the Non Habitual Residence scheme will affect your specific situation and objectives
Hi Mark, nice and informative view. Would you please consider making a video on how NHR taxes apply to Americans who’s income come from social security (pension), capital gains on stocks in account in investment accounts the USA, interest income (e.g CDs, money markets) and dividend income from holding stocks in USA accounts. No income from sources in Portugal as fully retired couple. Thanks for considering.
Are your clients only from the UK expats community? Cheers.
Hi Mohammed. Thank you for your suggestion and of course, I will be happy to do a new video on that subject. My clients are generally from the UK, although we do have other nationalities as clients too. Thanks again and best wishes. Mark
@@taxfinancialadviceinportug4745 Many thanks, Mark. What city are you located in Portugal? We are coming for a trip later this year to check Portugal for a place to retire from California.
Even though I saw many videos about Portuguese NHR, I still find it confusing when it comes to what taxable and what is under the NHR program. For example, I saw videos that dividend earned in USA accounts are taxable in Portugal but recently I say a video that the Portuguese court ruled that they will not be taxed going forward in Portugal if they are taxed in the country of origin like the USA or the UK. So NHR for retirees is still confusing for me even though it is suppose to be simple. Thanks again. 🥂
@@mohammedsharif2651 Hi Mohammed. We're based in Loule, in the Algarve. There is a lot of confusion out there surrounding Non Habitual Residence and tax in general. The basic premise of the scheme is that, in order for income to be tax free here, it has to be taxable somewhere else
@@taxfinancialadviceinportug4745 Very nice. I hear Loule is a beautiful town. Thank you for the informative response. 🙏😀
Thanks for the informative video! How can I check / make sure that my job qualifies as 'high value activity" before accepting a relocation to Portugal? I am a sales consultant (manager level) working for an international company. I would be ending my Dutch contract and getting a Portuguese contract within the same global company, but need to make sure I qualify for the reduced income tax before I decide to make such a move. I have already checked the list of professions but its not very clear if my job fits into any of the categories. Thank you in advance.
Hi Jon. You would need to seek the guidance of a local Accountant who will be reporting for you. Best wishes. Mark
@@taxfinancialadviceinportug4745 Thank you! 🙏
Hello sir. What if your wife was born in Portugal and is still a Portuguese citizen and I obtain citizenship through marriage. What would we qualify for? She is a citizen through naturalization, I believe? So will we be taxed like normal native citizens of Portugal? Thank you in advance if you choose to answer this question. We are moving to Portugal next year because my wife is done with America and wants to go back to Portugal to be close to her family, her dad, her cousins, everyone. we have a retirement investments that won’t be touched until we reach 65 years old. We are only in our mid-40s. We fully intend to find work, or create work as in a restaurant, or some thing of our own to create passive income. I’ll go peel potatoes for a minimum wage at a local restaurant if I have to.
Your wife as an EU citizen can qualify for residency based on her nationality, and then you can apply for the spousal reunification visa (D6) as the partner of an EU citizen. However, due to the newly introduced proposals to parliament, it is unlikely the NHR regime will still be in place by that point. I'm going to make a new video on this issue hopefully this week. Best wishes. Mark
Hi Mark....Here's my scenario.
I am single.Approaching 60 years of age.
I am not attached to any pension scheme.
I am an online Futures Trader, who does not have a Lump Sum and no other Assets in the UK. I currently rent a property.
All I have is my Trading Account, which is domiciled in the UK.
---------------------
I presume therefore, that I must Close that above-mentioned Account and open a new one in Portugal and also have a Portugal Bank Account BEFORE I apply for NHR.
Can I do this, BEFORE I leave the UK as a British Passport Holder ?
I would then try to Rent a property there.
It's as simple as that, for me.
Does this sound like a Plan, that can work ?
Hi Zarp. You do not need to close the UK accounts and you do not need a Portuguese bank account either, although it would make life easier to have a local bank account. You need to take personal advice on your situation as the futures trading is likely to be subject to capital gains tax of 28% here, and possibly treated as business income at higher tax rates i.e. it may not sync for the Non Habitual Residence scheme. Best wishes. Mark
@@taxfinancialadviceinportug4745 Thank you, Mark. Best of, to you.