How real estate is boosted with the Non-Habitual Resident regime

Non-Habitual Residents (NHR) are people who transfer their fiscal residence to Portugal, and who have not lived, at least, the previous 5 years in Portugal. This regime was introduced by Decree-Law 249/2009 in order to attract businesses and professionals and also for people who receive pensions abroad.?

And how did this program come to shake the real estate sector in Portugal?

Along with other programs, such as the Gold Visas, the Non-Habitual Resident is another program to welcome foreigners who want to come to Portugal to enjoy their retirement, study, work or even undertake a business. Of course, to move to another country, having a property is always an essential factor.

This program, which has wide tax advantages in terms of income tax (a single rate of 20% for high value-added activities and 10% for pensions obtained abroad), ends up being the advantage offered in exchange for foreign investment in Portugal. This regime also requires people to live in our country for at least 183 days. This way, buying or renting a property becomes mandatory, helping the real estate sector to grow and thus boosting prices.

This type of visa also allows its renewal after 5 years and converted into a permanent residence permit, and it is also possible, afterwards, to apply for Portuguese nationality.

The Non-Habitual Resident has been one of the causes of real estate growth in Portugal, with great emphasis in the largest metropolitan areas of Lisbon and Porto, and an end to this type of program is not expected for the time being.

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