Investments made through “Golden Visas” increased 85% in March to €192,000,000 when compared with the same period last year. Fresh capital imported into Portugal almost doubled over the previous month according to data from the Immigration and Borders Service (“SEF”).
For tax residents in Portugal with investments abroad, foreign tax authorities will gather information on balances and interest of all financial investments from local institutions and share the data with the Portuguese fiscal authorities (AT). For non-residents with bank accounts in Portugal, the equivalent information exchange will take place. In the case of the USA – a non-signatory to the CRS (Common Reporting Standard) – reporting will only take place on amounts in excess of €50,000.