We waited, waited some more, and almost lost hope: NHR 2.0 was starting to feel like an urban myth. But after more than a year of waiting, it’s finally here—and ready to roll!
The regime has significant advantages (as we will see below) but is stricter than NHR 1.0. From the first application to the last day of the 10 years of benefit, more documents will need to be prepared, and more checks will be carried out, with the burden split between the individual and the company/institution involved.
Moreover, we now have several entities potentially involved in the process, each with its route and requirements. However, there is a common principle: NHR 2.0 is designed for people who work in Portugal for a Portuguese company.
But first things first: are you eligible for NHR 2.0/IFICI?
We consider this six-step test a good way of determining eligibility:
If the answers to these questions are positive, you're closer to starting to gather your documents and submitting your NHR 2.0 application, being mindful of the deadlines:
Of course, you can always manage everything yourself—ChatGPT and similar resources might even provide some useful tips. But beware: the devil really is in the details. An incorrect application or oversight could lead to significant headaches down the line and waste your time and effort.
At NEWCO, we're here to guide you step-by-step, ensuring your move to Portugal is hassle-free from start to finish.
Now that the boring registration side is done, let’s go through the main benefits of NHR 2.0:
For the avoidance of doubt, we highlight that:
The NHR 2.0 has no nationality restrictions. However, considering it requires Portuguese tax residence, the beneficiary must secure a residence permit (e.g. Golden Visa, D7 Visa, Tech Visa or D2 Visa) whenever its nationality does not grant the right to live in Portugal.
This next part is quite extensive, and—trust us—we'd love nothing more than to skip it entirely. But after careful consideration, we realised no article on this topic would be complete without it. So, deep breath, here we go:
Route to NHR 2.0 | Professional Activities |
---|---|
Teaching in higher education and scientific research | |
Highly qualified activities (e.g. CEO and executive manager, Directors of administrative and commercial services, Directors of production and specialised services, IT professionals, Specialists in the physical sciences, mathematics, engineering and related techniques) in companies benefitting from the tax support regime for investment (RFAI) or in companies with the following activities which export at least 50% of their turnover, in the fiscal year in which they began their functions or in any of the two previous exercises | Extractive industries – divisions 05 to 09; Transformative industries – divisions 10 to 33; Information and communication activities – divisions 58 to 63; Research and development of physical and natural sciences – group 721; Higher education – subclass 85 420; Human health activities – subclasses 86 100 to 86 904. |
Other qualified jobs and members of corporate bodies in entities carrying out economic activities* recognized by AICEP, E.P.E or IAPMEI, I.P., as relevant to the national economy | 112 – CEO and executive manager of companies; 12 – Directors of administrative and commercial services; 13 – Directors of production and specialized services; 14 – Hotel, restaurant, retail and other services’ managers; 21 – Specialists in the physical sciences, mathematics, engineering and related techniques; 221 – Doctors; 231 – Professor at university as well as higher education; 241 – Finance and accounting specialists (except, 2411); 25 – Specialists in information and communication technologies; 2654 – Film, theater, television and radio directors, producers and stage managers. |
Any job or member of corporate bodies in Portuguese startups certified as such by Startup Portugal |
* The codes that identify the economic activities relevant to the national economy are the following:
Our experienced team will work with you on the best route for your NHR 2.0.
Contact us!Well, if you have concluded that NHR 2.0 does not fit you, there might be an alternative that will still make your move to Portugal interesting from a tax perspective.
The NHR 2.0 has benefits that even go beyond the ones that were provided by NHR 1.0 (in particular, on foreign capital gains from the sale of securities).
Nevertheless, it is essential to note that this is a whole new regime—indeed, it’s not even officially called NHR, but instead “IFICI.” Therefore, we will need some months or even years to grasp its bits and pieces fully.
Being the first ones submitting an application, renovating status, and filing tax returns is exciting, but it’s something that taxpayers and ourselves will need to learn to navigate. Just be sure you have the best possible advice because the tax leakage generated by a failed NHR 2.0 application can be considerable and ultimately harm your plans.