The regime for habitual non-residents (NHR) was introduced in Portugal with the aim of attracting foreign investment and stimulating the economy. This regime offers a series of tax advantages to foreigners who settle in Portugal. Since its introduction, the number of non-national residents in Portugal has increased exponentially. This guide explains the role of the NHR in Portugal’s economic attractiveness.
The economic benefits of the NHR for Portugal
The economic benefits of the NHR for Portugal are many and varied. You can Continue reading here to find out more about the importance of this scheme. These benefits relate to foreign investment, tax revenue, consumption, skills transfer, etc.
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Foreign investment
NHR residents have invested billions of euros in Portugal, in areas such as property, tourism and business. These investments have helped to create jobs and stimulate economic growth.
Tax revenue
The Portuguese government levies taxes on certain types of income earned by NHR residents, such as property rental income and bank interest. This tax revenue helps to finance public services and infrastructure.
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Consumption
NHR residents spend their money in Portugal, which stimulates the local economy. They visit restaurants, shops and local businesses.
Skills transfer
NHR residents bring with them valuable skills and knowledge that can benefit the Portuguese economy. They can set up new businesses, develop new products and services, and share their expertise with local businesses.
The social benefits of the NHR for Portugal
The social benefits of the NHR for Portugal mainly concern cultural diversity and cosmopolitanism.
Cultural diversity
Portugal has become a more diverse country thanks to the arrival of NHR residents from all over the world. This cultural diversity has enriched Portuguese society and made the country more attractive to tourists and investors.
Cosmopolitanism
Portugal has become a more cosmopolitan country thanks to the arrival of NHR residents. These residents have brought with them new cultures and new ways of life. This has made Portugal a more open and tolerant country.
In short, the NHR has played an important role in Portugal’s economic attractiveness. The regime has attracted foreign investment, stimulated economic growth and made Portugal a more diverse and cosmopolitan country. Although the NHR has attracted some criticism, it remains a valuable tool for Portugal’s economic development.
