Digital Nomad Visa

DIGITAL NOMAD VISA

This new Visa for non EU/EEA/Swiss citizens is aimed at digital nomads.

It allows you to apply for a visa for temporary stay or residence.

The Temporary Stay Visa is perfect for those who do not seek permanent residency but wish to live in Portugal for an extended period.

This Visa is valid for 1 year and can be renewed for 2 years. In addition, it will grant multiple entries into the country.

The Residence Visa is for Digital Nomads who wish to stay in Portugal for more than 1 year.

Once the Temporary Visa is received, you can apply for Permanent Residency.

The first Residency Visa is only valid for 4 months.

Within this period you will need to apply for a Residency Card in Portugal.

Specific Requirements:

Proof of reliable/regular income from salary as a subordinate/independent professional in the last 3 months of a minimum value equivalent to 4 guaranteed minimum monthly wage.

The minimum wage in Portugal is currently 760€/month, so we would be speaking of around 3.040€/month.

When a Residency Permit is issued, whether temporary or not, a pre-residence permit is issued, which contains the information on obtaining a Residence Permit and the provisional assignement of Taxpayer, Social Security and NHS numbers.

After relocating to Portugal, a remote worker can obtain a NHR (non habitual residency) Status

Know more: https://www.franco-realestate.com/en/detail/non-habitualresidents/47414

TAX ADVANTAGES:

Foreign source income may be exempted from taxation;

Only 20% tax on income earned in Portugal, as opposed to standard Portuguese income tax rates of up to 48%;

Social Contribuitions only at 10% (Significantly lower than the standard rate)

It is important to note that the NHR Status can only be granted to new tax residents in Portugal.

The NHR is issued for 10 years, but each year the status will need to be confirmed/verified!

Source: Cooperative Partners Martinez-Echevárria Law Firm

Please note that this information is not a substitute for professional legal and financial advice and no liability can be accepted for any kind of loss or damage.