Non-Habitual Resident (NHR) regime closed to new applicants

Under the State Budget for 2024, the Non-Habitual Resident tax regime — which had offered flat 20% tax on qualifying Portuguese income and broad exemption on most foreign income for ten years — was closed to new applicants from 1 January 2024. Existing NHR beneficiaries retained the regime until the end of their ten-year period. A narrow transitional window applied to those who had begun relocation steps by October 2023.