It´s not so interessting WHERE we live in 10 yrs, it´s more interessting IF we live in 10 yrs.🤔 P.s: I like your topics and the work you put in, thanks for that!👍 I used to live & work in Portugal for 3 yrs.... thank god i earned there a bit under 200k/year so i had not think much about "saving taxes" and could instead enjoy the beautiful country and very friendly portugees citizens.....thank god i had none of these😘 "millionaire issues"! I own two normal apartments, no car/boat, 9 months per year work ratio,...i think i´m lucky! 😎 I DON`T even wanna be a millionaire,...i think i would waste my precious time in sorrow to uphold my "millions"🤯 my "time" is the most valued item i have, and i´m thankful to share it with my friends & loved ones!🥰
Portugal has an amazing client, but the real estate market is overpriced, and without foreigners, there are no buyers to real estate. If you buy a house in Portugal, it might takes years to sell. Important to understand location in Portugal, not what the real estate agents tells you.
What I've often wondered is whether you would be hit with a large exit tax if you chose the Portugal option? Let's say you decide to take advantage of the 10 year deal and live in Portugal. You're happy with your mid-single digits tax rate. You continue to build your business over the 10 years that you're tax resident in Portugal. Then your 10 years is up and you decide to move to say Italy for your tax purposes. Is Portugal going to try and tax you on the growth of your company over that 10 years?
Just for all Nomad Capitalists to know: The (Socialist) Portuguese Government has just announced in its Budget Plan for 2023 that energy companies and large retailers will be subject to windfall taxes because they are "unfairly profiting from the disgraceful impact that the inflation caused by the war on Ukraine has been impacting the people". Please note that the Portuguese corporate tax burden is already the highest in the OECD, and these companies already pay corporate taxes and continue to pay extra contributions that 10 years ago were previously labeled one-offs. Again, for those thinking about investing in Portugal, RUN!
I sold a plot of land and my car for the purpose of obtaining a Vanuatu passport through investment. Five months after I obtained the Vanuatu citizenship and passport, the European Commission imposed a ban on Vanuatu citizens from entering the European Union, so what is the solution?
@@RunForPeace-hk1cu I am not looking for support because I do not follow herds. I craft my own path. That is why I left that sinking ship and I will never return. And by the way, if you can read corporate's annual reports, you will notice that EDP makes most of its revenue outside Portugal, and in fact its business operations in Portugal are the least profitable they have. Utilities skyrocketed everywhere across Europe and EDP is only one of the players in the utilities market in Portugal. So you can always pick another supplier if you wish. Leave your barn and look around. There may be other opportunities elsewhere if your brain can spot them.
Even for the normal guy Portugal is becoming expensive fast. I know alot of people that were on the D7 visa that are leaving now. Places that were €600 rent a year ago are now over €2500 a month in Lisbon. Porto is also getting quite expensive these days. I also fpund both locations rather overrated for what you get. Would rather be in SEA to be honest.
I am soo happy that finally Portugal has become expensive!!! I have been saying that since 2011 that high income economic migrants have been profitiring from Portuguese because it was not expensive as it should have been. This is great news for me
@chronicreader don't worry about the Portuguese.. we will be here and we will do whatever it takes to live. We have been around you know (for 0ver 900 years). what I am commenting is the "complain# that the D/ visas are not having same conditions as before .... I am sobbing for your guys
Where do they take only 600$ per month for a whole apartment? Even before the pandemic??? This had to be a "tiny hole"! I had to pay almost 200$ for a secured garage in Lisboa´s inner city and for my 3 room apartment 1400$, it´s about 5 km away from town. I´m in Portugal since 2019, working as a pharmaceutical representative 9months per year and i´m also NOT a rich person....but this is all news for me, i have heard a lot about & suffered myself from other "issues" like raising prizes for everday things like gas/energy/food/unemployment .....have a nice day, Satis
Thank you for another informative video. I am a huge fan of this channel and Andrew. . BTW, I have two questions. . Do you think the UK's Tier 1 Investor Visa will ever come back ? . What will be the future of immigration for entrepreneurs under Rishi Sunak? . It will be great if you shed some light on these matters.
Most countries in the EU have territorial tax systems, which means that for tax residents (living more than six months per year in the country in question), as long as your foreign company pays atleast 50% of your country's actual tax rate abroad, you will not be responsible for paying any tax within the European country where you live according to their CFC (controlled foreign company) rules. It is useful to check out what the CFC rules where you live to make sure though.
I believe my former Doc who was in your office in Belgrade went there if I’m not mistaken. He was a good guy too. I hated to see him go but don’t blame him.
Hey NC. Have had the book for awhile and a subscriber for a couple years. Now that you are more free and not doing as many videos personally would you consider an average Joe channel? I know the boutique 7-9 figure folks make the business work but like many of us you were born an average Joe and still recognize the value of a trifecta approach. A channel for those of us in the category that don’t fit your filter (website questions) but still want to trifecta our way around the world like when you were a young buck would be simply cool. If you have the time.
NHR will be over in Portugal in 2024 anyway! At least that's what I have read. By the time I retire in 2030, changes will certainly come into force in many countries. Therefore, it is probably better not to fall in love with a country too much just yet. As of today, my favorite would be Italy. Before Brexit, I also had England on my list, but moving there is almost impossible at the moment.
Given that Ireland isn't in Schengen, will they know you left Ireland if you leave through the UK? There are no border controls between Ireland and the UK.
Question: Have you ever tried to help out a Portuguese-born person that has been living and paying taxes in another country for more than 5 years, get the NHR status? I've heard it's possible, but when trying to speak with the lawyers over here they always say that they've never done it for a PT person and they don't know if it's possible... but supposedly it should be...
Am I understandning the NHR correctly as per this example: I am employed by a Scandinavian company, completely remotely so my salary will be from this Scandinavian country. Living in Portugal on NHR, income from another country is not taxed. Will I be tax free on my salary for 10 years?
thanks for all your great videos .. one i would love to see is what countries are low tax rate on crypto currencies including Asia Europe and South America specifically .. the west is high we all know this lol
Note that Portugal has the lowest incomes in Europe (over 2 million people earning 500 Euros), so if you don't have a steady income source from outside, better stay away. Lisbon is becoming very expensive to live in.
Go where the lifestyle suits you best... accept tax realities... cost of doing business in top tier place.... trying to time "low tax places" changes on th3 whim of politics at any time
It´s not so interessting WHERE we live in 10 yrs, it´s more interessting IF we live in 10 yrs.🤔 P.s: I like your topics and the work you put in, thanks for that!👍 I used to live & work in Portugal for 3 yrs.... thank god i earned there a bit under 200k/year so i had not think much about "saving taxes" and could instead enjoy the beautiful country and very friendly portugees citizens.....thank god i had none of these😘 "millionaire issues"! I own two normal apartments, no car/boat, 9 months per year work ratio,...i think i´m lucky! 😎 I DON`T even wanna be a millionaire,...i think i would waste my precious time in sorrow to uphold my "millions"🤯 my "time" is the most valued item i have, and i´m thankful to share it with my friends & loved ones!🥰
Have you considered moving to Portugal? Where would you move to instead?
Yes. Mexico. Made the move and love it here.
Planning on Mexico. Hear so many good things about it
I almost did... But I came to the understanding that capital gains on stocks is 28 percent, and is not exempt under the NHR. Is that correct? Thanks
It´s not so interessting WHERE we live in 10 yrs, it´s more interessting IF we live in 10 yrs.🤔
P.s: I like your topics and the work you put in, thanks for that!👍
I used to live & work in Portugal for 3 yrs.... thank god i earned there a bit under 200k/year so i had not think much about "saving taxes" and could instead enjoy the beautiful country and very friendly portugees citizens.....thank god i had none of these😘 "millionaire issues"!
I own two normal apartments, no car/boat, 9 months per year work ratio,...i think i´m lucky! 😎
I DON`T even wanna be a millionaire,...i think i would waste my precious time in sorrow to uphold my "millions"🤯
my "time" is the most valued item i have, and i´m thankful to share it with my friends & loved ones!🥰
@@joaoportugal8618 brazil, marry
I always appreciate your talks and videos
Thank you.
Always a pleasure, thank you!
Portugal has an amazing client, but the real estate market is overpriced, and without foreigners, there are no buyers to real estate. If you buy a house in Portugal, it might takes years to sell. Important to understand location in Portugal, not what the real estate agents tells you.
What I've often wondered is whether you would be hit with a large exit tax if you chose the Portugal option? Let's say you decide to take advantage of the 10 year deal and live in Portugal. You're happy with your mid-single digits tax rate. You continue to build your business over the 10 years that you're tax resident in Portugal. Then your 10 years is up and you decide to move to say Italy for your tax purposes. Is Portugal going to try and tax you on the growth of your company over that 10 years?
Don't post here.. hire a tax consultant.. if you want real answers
Just for all Nomad Capitalists to know:
The (Socialist) Portuguese Government has just announced in its Budget Plan for 2023 that energy companies and large retailers will be subject to windfall taxes because they are "unfairly profiting from the disgraceful impact that the inflation caused by the war on Ukraine has been impacting the people".
Please note that the Portuguese corporate tax burden is already the highest in the OECD, and these companies already pay corporate taxes and continue to pay extra contributions that 10 years ago were previously labeled one-offs.
Again, for those thinking about investing in Portugal, RUN!
I sold a plot of land and my car for the purpose of obtaining a Vanuatu passport through investment. Five months after I obtained the Vanuatu citizenship and passport, the European Commission imposed a ban on Vanuatu citizens from entering the European Union, so what is the solution?
You are right, MarcaoPT. I use to say that Portugal is just for retirees... apart from that, either be a NHR nomad or stay away.
Utilities in PT skyrocketed in prices and their services SUCKS.
Are you here defending EDP? LOL
Good luck finding people who support you little bruh.
@@RunForPeace-hk1cu I am not looking for support because I do not follow herds.
I craft my own path. That is why I left that sinking ship and I will never return.
And by the way, if you can read corporate's annual reports, you will notice that EDP makes most of its revenue outside Portugal, and in fact its business operations in Portugal are the least profitable they have.
Utilities skyrocketed everywhere across Europe and EDP is only one of the players in the utilities market in Portugal. So you can always pick another supplier if you wish.
Leave your barn and look around. There may be other opportunities elsewhere if your brain can spot them.
Interesting look into the NHR! Portugal is a great lifestyle country!
Even for the normal guy Portugal is becoming expensive fast. I know alot of people that were on the D7 visa that are leaving now. Places that were €600 rent a year ago are now over €2500 a month in Lisbon. Porto is also getting quite expensive these days. I also fpund both locations rather overrated for what you get. Would rather be in SEA to be honest.
I am soo happy that finally Portugal has become expensive!!! I have been saying that since 2011 that high income economic migrants have been profitiring from Portuguese because it was not expensive as it should have been. This is great news for me
@chronicreader Portuguese People is one problem ... D7 people need to pay up to have the privilege to be in Portugal ...thats my simple rational
@chronicreader don't worry about the Portuguese.. we will be here and we will do whatever it takes to live. We have been around you know (for 0ver 900 years). what I am commenting is the "complain# that the D/ visas are not having same conditions as before .... I am sobbing for your guys
Where do they take only 600$ per month for a whole apartment? Even before the pandemic??? This had to be a "tiny hole"!
I had to pay almost 200$ for a secured garage in Lisboa´s inner city and for my 3 room apartment 1400$, it´s about 5 km away from town.
I´m in Portugal since 2019, working as a pharmaceutical representative 9months per year and i´m also NOT a rich person....but this is all news for me, i have heard a lot about & suffered myself from other "issues" like raising prizes for everday things like gas/energy/food/unemployment .....have a nice day, Satis
@@satisfied656 €200 MONTH for a garage in central Lisbon... that s a good deal. I paid for outside parking till 2013 €160
Thank you for another informative video.
I am a huge fan of this channel and Andrew.
.
BTW, I have two questions.
.
Do you think the UK's Tier 1 Investor Visa will ever come back ?
.
What will be the future of immigration for entrepreneurs under Rishi Sunak?
.
It will be great if you shed some light on these matters.
Most countries in the EU have territorial tax systems, which means that for tax residents (living more than six months per year in the country in question), as long as your foreign company pays atleast 50% of your country's actual tax rate abroad, you will not be responsible for paying any tax within the European country where you live according to their CFC (controlled foreign company) rules. It is useful to check out what the CFC rules where you live to make sure though.
I believe my former Doc who was in your office in Belgrade went there if I’m not mistaken. He was a good guy too. I hated to see him go but don’t blame him.
7:44 oops someone hasn't been in Rome 🙃
I always wanted to ask Andrew this question I have always been confused about the Nomdom program with a few countries in Europe?
Hey NC. Have had the book for awhile and a subscriber for a couple years. Now that you are more free and not doing as many videos personally would you consider an average Joe channel? I know the boutique 7-9 figure folks make the business work but like many of us you were born an average Joe and still recognize the value of a trifecta approach. A channel for those of us in the category that don’t fit your filter (website questions) but still want to trifecta our way around the world like when you were a young buck would be simply cool. If you have the time.
NHR will be over in Portugal in 2024 anyway! At least that's what I have read. By the time I retire in 2030, changes will certainly come into force in many countries. Therefore, it is probably better not to fall in love with a country too much just yet. As of today, my favorite would be Italy. Before Brexit, I also had England on my list, but moving there is almost impossible at the moment.
Given that Ireland isn't in Schengen, will they know you left Ireland if you leave through the UK? There are no border controls between Ireland and the UK.
Question:
Have you ever tried to help out a Portuguese-born person that has been living and paying taxes in another country for more than 5 years, get the NHR status?
I've heard it's possible, but when trying to speak with the lawyers over here they always say that they've never done it for a PT person and they don't know if it's possible... but supposedly it should be...
I am going to find out that in 3 year time (if this program is still on). My wild card is my French husband that don't even have a NIF number yet
Am I understandning the NHR correctly as per this example: I am employed by a Scandinavian company, completely remotely so my salary will be from this Scandinavian country. Living in Portugal on NHR, income from another country is not taxed. Will I be tax free on my salary for 10 years?
I believe that is correct.
You will be spared double tax payments, so nothing to win here, not?
thanks for all your great videos .. one i would love to see is what countries are low tax rate on crypto currencies including Asia Europe and South America specifically .. the west is high we all know this lol
Andrew 🙌😎
What about Panama?
Gibraltar Category 2?
Note that Portugal has the lowest incomes in Europe (over 2 million people earning 500 Euros), so if you don't have a steady income source from outside, better stay away. Lisbon is becoming very expensive to live in.
Go where the lifestyle suits you best... accept tax realities... cost of doing business in top tier place.... trying to time "low tax places" changes on th3 whim of politics at any time
First boooooommmm
It´s not so interessting WHERE we live in 10 yrs, it´s more interessting IF we live in 10 yrs.🤔
P.s: I like your topics and the work you put in, thanks for that!👍
I used to live & work in Portugal for 3 yrs.... thank god i earned there a bit under 200k/year so i had not think much about "saving taxes" and could instead enjoy the beautiful country and very friendly portugees citizens.....thank god i had none of these😘 "millionaire issues"!
I own two normal apartments, no car/boat, 9 months per year work ratio,...i think i´m lucky! 😎
I DON`T even wanna be a millionaire,...i think i would waste my precious time in sorrow to uphold my "millions"🤯
my "time" is the most valued item i have, and i´m thankful to share it with my friends & loved ones!🥰