The Sequel after the Abolition of Portugal's Non-Habitual Residence Regime

What happens when a tax regime designed for attracting top talent instead becomes a haven for retirees with foreign pensions? Together with Roy Saunders, Ana Castro Gonçalves, an International Tax Lawyer from Caiado Guerreiro in Lisbon, unravels the reasons why Portugal has abolished its non-habitual residence regime and explains how this initiative, which offered significant tax breaks, evolved and why it ultimately led to the need to impose a 10% flat tax on foreign pensions. They also discuss the chaos caused by its confusion with the golden visa program, contributing to skyrocketing property prices, and how these factors led to the regime's termination by the left-wing government.In this rich discussion, we delve into how the non-habitual residence regime will be phased out for current beneficiaries and those who become resident in 2024. We clarify how this regime differs from the golden visa, and examine the economic impacts, including the effect on spending and VAT.  This series of podcasts explores the beneficial tax regimes in Italy, Spain, Portugal, Malta, Cyprus, Switzerland, Singapore, Israel and Dubai in respect of where UK residents may wish to emigrate in light of the non-dom changes introduced by the Conservatives, and the likely tightening of these rules under the new Labour government.