The new tax benefit, IFICI+, which was already in existence, has now been formally regulated on 23rd of December 2024, through Regulation No. 352/2024/1. Eligible individuals who meet the specified criteria can now submit their applications to take advantage of this opportunity.
If you wish to apply for the IFICI+ tax benefit, which is now fully regulated, contact us for more details.
The introduction of the IFICI+ tax benefit, designed for foreigners aiming to establish tax residency in Portugal, came into effect following the conclusion of the Non-Habitual Resident (NHR) Tax Regime programme.
The Non-Habitual Resident (NHR) Tax Regime was a programme that provided special tax benefits for those seeking to become tax residents in Portugal. Introduced in 2009 and concluding in 2023, the NHR tax regime successfully attracted individuals of independent means, pensioners, and certain skilled professionals to establish residency in Portugal for tax purposes.
With the necessary regulations now in effect, NHR 2.0, known as the IFICI+ tax benefit, is fully operational. Following an in-depth review of Regulation No. 352/2024/1, we have identified the key aspects worth highlighting.
The key features of the IFICI+ tax benefit are as follows:
To qualify for the IFICI+ tax benefit, applicants must meet the following requirements:
The following entities are responsible for validating the eligibility of candidates for the IFICI+ tax benefit:
To apply for the IFICI+ tax benefit, the following documentation must be submitted:
Taxpayers benefiting from the IFICI+ tax regime must report any changes in their professional situation to the relevant regulatory entity overseeing their respective activity.
Any professional change may impact the beneficiary's eligibility to continue receiving the IFICI+ tax benefit. Such changes must be reported by 15th of January of the year following the occurrence, specifying, where applicable, the date the previous activity was terminated.
Adhering to timelines is crucial in this process. There are two different timelines, depending on whether the foreign resident was already a resident in Portugal in 2024 or not.
Applications must be submitted to the appropriate regulatory bodies, which vary depending on the applicant's professional activity.
These are the key highlights of Regulation No. 352/2024/1. For more information about the IFICI+ tax benefits or assistance with your application,
contact us. With our expertise, we are here to guide you every step of the way.
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