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What has changed in Portugal after Brexit


The 90-day rule means that those who own a holiday home are now restricted in the number of days they can spend in Portugal. Meanwhile, residency rules have become more complicated for those wishing to make Portugal their permanent home.


Some welcome news is that the tax advantages of moving to Portugal are still excellent. So, how has the UK's departure from the EU changed the financial landscape and what access do you have to advice?


EU residents and UK-based financial advisers and services

When the UK left the European Union on 31 December 2020, its citizens and businesses lost the automatic freedom of movement they had enjoyed for 40 years. The UK no longer holds the passporting rights, which allowed financial advisers and institutions to provide services from the UK to any country within the EU without further regulatory clearances required. This applies to banks, investment and insurance companies, stockbrokers, and advisers. You may still use a UK-based financial adviser or service if they can confirm they are regulatorily compliant in providing those services to you as an EU resident and notify you of any limitations that may now be in place.

Using a Portugal-based adviser would not only avoid these issues, but you'll also benefit from their local, up-to-date knowledge and experience. A good option is to seek financial management from a company that provides cross-border advice for both the UK and Portugal. This will ensure you receive Visa and residency requirements for Portugal

Whilst it is slightly more complicated to move to Portugal since Brexit it is still a relatively straight forward process to obtain a visa.

The D7 visa is proving to be the most popular route for entry into Portugal – especially for those looking to retire.

There are various requirements. You must hold:

  • NIF in Portugal

  • A Portuguese bank account

  • A valid criminal record check

  • Travel insurance

  • Bank statements proving your wealth and income – usually for the previous six months.

  • A property rental agreement or proof of ownership.


There are various immigration companies that are able to assist with the process, should you feel this is a more appropriate route for you.

Becoming tax resident in Portugal

If you spend more than 183 days a year in Portugal or have a permanent home then you will be classed as tax resident. You will be subject to taxation on your worldwide income and gains and you should submit a tax return. You can employ a local accountant to do this. You should seek international tax planning advice on your savings, investments and pensions as there are various ways to reduce taxation available.

Conclusion Portugal remains a popular destination for international retirees and workers. The situation after Brexit does present a few more challenges however they are relatively minor and nobody should be deterred by the situation in a post-Brexit world.

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