|Local Time (LIVE):||3:16 PM|
|Local Currency:||$1 = €0.89|
|Business Language(s):||English and Portuguese|
|Tax Year Dates:||1st January – 31st December|
If you are considering expanding your business to Portugal, you’re in good company. Portugal is an attractive place to do business, thanks to English being a widely spoken language and the Portuguese Government’s non-habitual tax regime.
Introduced in 2009, the non-habitual tax regime was created to incentivise high value industries to do business in Portugal. Non-habitual residents in Portugal will benefit from a flat 20% income tax rate if you are a new resident and work in a one of their defined ‘high value’ industries. These include work of a scientific, artistic or technical nature, and the regime lasts for 10 years.
If you’re ready to expand, FMP Global are here to help make sure your business remains compliant with international payroll and HR. Though the tax incentives are good, it doesn’t make payroll and HR management any easier.