[ Offshore Tax ]UK & Portugal Taxes

So, these are regimes as some conditions, mainly the main condition would be, of course, to be the first time, or at least was not resisted as tax resident in the previous five years in Portugal. So this is one condition. And the other one that I already mentioned, is tax residents in Portugal and not elsewhere. And the application for the NHR regime is made until the end of March of the year following the one that the change of the tax residency occurs. And it is, it is a region that is applicable for 10 years. So this is in terms of the conditions to, to be context resident, be considered tax resident in Portugal. The first criteria would be even more than when a 12 month period, one of the situations where individuals become tax resident, but individuals can also consider a tax resident in Portugal, even in case they spend less than 83 days, but a property it will in Portugal in conditions that suggest the intention to maintain an occupied such property as a B12 residence, in terms of the texts, registration procedures in brief terms, once you individual become tax resident in Portugal, you need to report here, the worldwide income. So income from Portuguese and foreign sources and the main steps, our first step would be to apply the portrait by for the portraits to expire number, which is something that usually occurs the moment that individual start the process of getting, for example, a visa or residency permit. Then the moment that he moved to Portugal on a permanent basis to register as a tax resident apply for the Energizer status. And then from that moment on, on an annual basis to file the personal income tax return, the tax period in Portugal is the calendar here. As I mentioned, individuals need to re-report worldwide another important aspect that they need to report in bank accounts. So the obligation is to report just the number of the bank accounts, not report the balance of our assets seldom, just to try to cover some of the main features of the EnerGov regime with respect to passive income, what we call passive income from a foreign source, there is an exemption available, namely in those cases where the income can be subject to taxation at source under the double tax treaties concluded by Portugal.

1. We offer HOLISTIC strategies to help you live that international life. Tax + MIGRATION options.
2. We help you MODEL the tax impact of moving to a new jurisdiction
3. CONTACT us for tax optimization consults over Zoom
4. High Net Worth? We can QUOTE for doing your “US – International” tax returns
We are helping 6, 7, and 8 figure International Entrepreneurs, Expats, Digital Nomads, and Investors legally minimize their global tax burden and protect their wealth.⁣⁣⁣⁣⁣
– Join Amazon best selling author, Derren Joseph, in exploring the offshore financial world⁣⁣⁣⁣⁣

Visit us www.htj.tax⁣⁣⁣⁣⁣
For more information or inquiries, email us at help@advancedamericantax.com
▶️ Follow us:
– Facebook:
-Instagram:

#UKtaxes #portugaltaxes #HTJpodcast #internationaltax #taxplanning #taxes #internationalbusiness #offshore #expats #investors #offshorecitizen #nomadcapitalist #flagtheory #InternationalEntrepreneur #irs #offshorebanking #ibc #offshorecompany

source