Take advantage of tax benefits when investing in real estate property in Portugal. Property buyers may benefit from attractive tax incentives in terms of property taxation and income taxation. Regarding income taxation, citizens who have not been tax resident for more than 5 years in Portugal, can obtain the status of non-habitual resident (NHR) and benefit, for a period of 10 years, from:
- An autonomous IRS tax of 20% regarding Portuguese-source income earned in activities of high scientific, artistic or technical added value;
- An exemption of taxation of foreign-source passive income, as for example, income qualified as pensions, interest, dividends, royalties, capital gains on immovable property and real estate rents.
The Algarve has become a very attractive region for retired foreign citizens, who can benefit from significant tax incentives and have a fantastic quality of life. Known for its Mediterranean climate with more than 300 days of sunshine, its beautiful beaches and wonderful cuisine, the South of Portugal is one of the main tourist destinations in Europe and a top choice for foreign citizens to live or invest.
Located in the Central Algarve, Albufeira is a traditional small city that offers great proximity to the Faro International Airport (30 minutes) and the city of Lisbon (2h30). The famous beaches, the unique beauty coast and the low-density construction, offer you unique natural surroundings, promoting tranquillity and well-being.
Not forgetting also, the famous fishing village of Carvoeiro, which offers you a unique natural beauty with magnificent cliffs and breathtaking views.
Because we believe that places are so important in our lives, Engel & Völkers Albufeira has the most exclusive properties in the best locations. We take care of your dreams making them happen!