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The Portuguese Prime Minister announced on Tuesday, October 3, that as of 2024, foreign retirees living in Portugal will no longer benefit from tax relief for ten years. This measure, according to him, contributes to raising real estate prices.
It was the ocean as far as the eye could see and the sweetness of life that led Mark and Jean-Louis four and a half years ago to leave their home in Picardy for southern Portugal. A framework to which tax exemption for foreign retirees was added for a period of ten years. But, even with the case over NHR As of 2024, they will no longer settle in France. “Even with taxes in Portugal, one thing is certain, life is much cheaper and more enjoyable.”Pointing to a retiree.
Between 30,000 and 40,000 French pensioners
This announcement, made by the Portuguese Prime Minister on Tuesday, October 3, comes in the context of rising housing costs, which has led to thousands of Portuguese taking to the streets. According to the Prime Minister, this unfair tax measure contributes to raising real estate prices. But the end of this financial advantage should not discourage foreign retirees from coming to settle. According to the Consular Council, between 30,000 and 40,000 retirees French will be installed To Portugal.
