Monthly Archives: October 2017

Proposal to grant municipalities the power to limit Local Lodging

31 Tuesday Oct 2017

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Adjustments to current regulations for Local Lodging intended to regulate and respond to excessive volume are being prepared, according to the Secretary of State for Tourism. Integration of holiday letting into the formal economy has been the focus of successive changes to legislation in recent years. In July, new measures were introduced mandating that reservation platforms such as Airbnb or Booking.com identify official registrations of all available accommodations for travelers.

NHR proves to be positive

31 Tuesday Oct 2017

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Despite millions in tax concessions, the overall impact on tax revenues from Non-Habitual Residents has proven to be propitious for Portugal, due to total taxable income generated, such as capital gains, rates, VAT, etc. Simultaneously, there is also a significantly healthy impact on local economies arising from new construction, urban rehabilitation and real estate transactions.

NHR a victim of its own success

31 Tuesday Oct 2017

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Attacks from around the EU are challenging the Non-Habitual Residency Programme. The achievements of NHR are reflected in the numbers: between 2009 and 2012, the annual average was just one hundred applications. By 2013, requests climbed to 1,000. As of 2016, following legislative reform, registrations jumped to over 6,000 with tax breaks attaining €166,000,000, according to Ministry of Finance statistics. From 2010 through 2016, a grand total of 13,687 NHR applications were processed. 2017 is proving to be no exception, seeing exponential growth in demand. Over 80% of applicants are pensioners and the balance come from highly value added professions.

Golden Visas: new rules in November

31 Tuesday Oct 2017

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The Golden Visa Programme is a simple, alluring residency scheme aimed at attracting investors from around the world to Portugal. The qualifying conditions for the concession of Residency Permits of Investment Activity have been expanded, creating new opportunities. The recently passed up-dates take effect on 26 November and are part of a transposition of three EU directives, introducing new schemes for a) seasonal workers, b) transfer of migrant workers within a company or group, as well as c) a regime for the entry and stay of students, researchers, volunteers and trainees. Continue reading →