London, UK – Fifteen years after its inception, Portugal's Non-Habitual Resident (NHR) tax program has undergone a significant update, solidifying its commitment to attracting highly skilled professionals and their families. The revamped scheme, dubbed NHR 2.0 or officially the Tax Incentive Scheme for Scientific Research and Innovation (IFICI), aims to build upon the success of the original program, which has already benefited over 10,000 foreigners.

While enacted on January 1, 2024, the final regulations for NHR 2.0 were only released on December 23, 2024, providing clarity and comprehensive guidance for individuals and businesses seeking to leverage the program's advantages. This renewed focus underscores Portugal's strategic effort to attract talent in key sectors and enhance its appeal as a destination for global professionals.

"NHR 2.0 is a clear indication that the Portuguese government is keen to continue to encourage the inflow of talent that the country has seen over the past 15 or so years," explains Christina Hippisley, General Manager of the Portuguese Chamber of Commerce in the UK. "It adds a financial incentive to the already powerful lifestyle offering that Portugal has for families considering a new life overseas. In simple terms, if you have something to offer Portuguese society, you can be rewarded for it."

The NHR 2.0 program specifically targets professionals in high-growth industries, particularly in technology and innovation, as well as researchers and scientists. Eligible individuals can benefit from a flat 20% income tax rate on employment and professional income earned within Portugal. Furthermore, they enjoy a near-total tax exemption on foreign-sourced income, encompassing rental income, dividends, interest, and capital gains. These benefits are applicable for a period of 10 years from the date of application, offering substantial tax savings for those who choose to relocate and become tax residents in Portugal.

Beyond the fiscal advantages, Portugal offers a compelling lifestyle proposition. The country boasts a diverse landscape, from bustling cities like Lisbon and Porto to charming towns and extensive coastlines. Families can find a location that suits their preferences, whether it's the sunny dunes of Comporta or the renowned beaches, golf courses, and international schools of the Algarve. Portugal's favorable climate and focus on wellbeing further enhance its appeal.

For professionals considering the move, Portugal's convenient connectivity to the UK, including similar time zones and affordable travel options, facilitates seamless business interactions.

To provide comprehensive information and guidance to those interested in relocating to Portugal, the Moving to Portugal Show and Seminars will be held in London on April 3, 2025, at the Pestana Chelsea Bridge Hotel. This free-to-attend event will feature financial and legal specialists, property developers, currency firms, business advisors, visa specialists, and more. Forvis Mazars will be among the speakers, offering expert insights on NHR 2.0 and related tax implications. Attendees will have the opportunity to attend short seminars and engage with experts to address their specific questions and concerns.

The Moving to Portugal Show is the largest UK event dedicated exclusively to facilitating moves to Portugal. It will run from 10:30 am to 7:30 pm. Free tickets can be booked online at https://MTP-London2025.eventbrite.co.uk. This event serves as a valuable resource for individuals and families exploring the possibility of making Portugal their new home.

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