The Portuguese government recently pulled the plug on its special tax regime for new residents.
Menswear Mogul Mortimer Levitt’s Manhattan Townhouse Hits the Market $12.5 Millionhas long been popular among travelers, and in recent years, it’s become a hotspot for foreign, high-net-worth homebuyers, too. But that’s about to change.
This month, the Portuguese government announced its plans to end its special tax regime for non-habitual residents starting in 2024. Under the current NHR program, qualifying individuals who live in the country at least part-time enjoy tax exemptions for up to 10 years on income earned in Portugal and are also exempt from paying taxes on their global earnings. Additionally, in February, Portugal also said it would be pulling the plug on its Bad Bunny Is Renting This Swanky N.Y.C.
“It’s causing people to take a step back and go, ‘Okay, Portugal was the easy answer, and now there’s no other easy answer out there. France, Italy, or Spain might be back on the table,’” Ingrim told Insider.Bad Bunny Is Renting This Swanky N.Y.C. Penthouse for $150,000 a MonthWealthy U.S. Homebuyers Can’t Stop Snapping Up Trophy Properties in Scotland. Here’s Why.
Exclusive: Aman New York Is Opening Its Private Residences for Overnight Stays. Here’s a Look Inside.Sep. 28–Oct. 1: Indulge in incredible meals, expertly paired wines, and a luxury getaway in Jackson Hole this fall.
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