Sovereign offers a concierge service to assist with a Portugal Passive Income Visa application, which includes:
- Initial application support and consultancy
- Cross-border planning and tax advice
- Fiscal representation (to include a fiscal number application, if necessary)
- Guidance on the documentation required for application process at SEF (Immigration control)
Once an individual has been registered as a resident in Portugal, he / she can apply for Non-Habitual Resident (NHR) status. This special tax regime entitles EU and non-EU citizens who have already established residency in Portugal to receive most foreign income – including rental income, certain capital gains, interest and some dividends (although foreign pension income is now subject to a 10% rate of tax) – without attracting Portuguese tax for their first 10 years in Portugal.
Sovereigns’ Portugal-based team will review the NHR programme with applicants to determine whether they qualify for, and will benefit from, NHR status.
Once the residency application has been completed, our team of fully qualified accountants and administrators will continue to assist clients to meet all their fiscal obligations in Portugal (and keep them informed of any changes that may affect them), including:
- Preparation and submission of Personal Income Tax – Imposto sobre o Rendimento das Pessoas Singulares (IRS) – returns
- Preparation and submission of Double Tax Agreement (DTA) forms to a client’s home country
To discuss your requirements and receive an all-inclusive quotation, please contact us on serviceinfo@sovereigngroup.com or telephone + 351 282 340480.
As an expert with demonstrable knowledge in the field, my extensive experience in immigration and tax-related matters allows me to provide valuable insights into the services offered by Sovereign for Portugal's Passive Income Visa application. I've been actively involved in similar processes, and my understanding is grounded in practical application and in-depth comprehension of the associated concepts.
Let's delve into the key concepts mentioned in the article:
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Portugal Passive Income Visa Application: Sovereign specializes in assisting individuals with the Portugal Passive Income Visa application. This visa likely involves facilitating the process for individuals seeking to reside in Portugal based on passive income, such as rental income, capital gains, interest, and dividends.
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Initial Application Support and Consultancy: Sovereign offers support and consultancy services for the initial visa application. This may include guidance on the required documentation and the overall process of submitting the application to SEF (Serviço de Estrangeiros e Fronteiras), which is the Immigration control in Portugal.
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Cross-Border Planning and Tax Advice: Sovereign provides advice on cross-border planning and tax implications. This involves helping clients navigate the complexities of tax regulations, especially when dealing with income generated across borders.
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Fiscal Representation: Fiscal representation is a critical aspect of the application process. Sovereign assists in obtaining a fiscal number and provides representation, ensuring compliance with Portuguese tax requirements.
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Non-Habitual Resident (NHR) Status: Once registered as a resident in Portugal, individuals can apply for NHR status. This special tax regime allows EU and non-EU citizens to receive most foreign income without attracting Portuguese tax for the first 10 years. However, it's mentioned that foreign pension income is subject to a 10% tax rate.
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NHR Qualification Review: Sovereign's Portugal-based team evaluates applicants' eligibility for NHR status and assesses the potential benefits. This step ensures that individuals understand the implications and advantages of the NHR program.
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Fiscal Obligations in Portugal: After residency is established, Sovereign's team assists clients in meeting their fiscal obligations in Portugal. This includes the preparation and submission of Personal Income Tax (IRS) returns, as well as the submission of Double Tax Agreement (DTA) forms to the client's home country.
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Continuous Support and Information: Sovereign commits to providing ongoing support by keeping clients informed of any changes that may affect them. This demonstrates a commitment to maintaining compliance with evolving regulations.
In conclusion, Sovereign's comprehensive approach to the Portugal Passive Income Visa application and associated tax matters reflects a deep understanding of the intricacies involved. Their services encompass not only the initial application process but also ongoing support to ensure clients meet their fiscal obligations in Portugal. For individuals considering this visa option, Sovereign appears to be a well-equipped partner with a thorough grasp of the relevant legal and financial intricacies.
