Bit-by-bit northern European countries whose nationals have been enjoying Portugal’s “best kept tax secret” are cracking the whip. First it was Finland, now Sweden is set to challenge the non-habitual residents regime (NHR) which gives foreign nationals a 10-year tax amnesty on pensions.
To be fair, it was only to be expected. Last year Sweden’s finance minister said she was “disgusted” by the regime (click here).
Negotiations are expected to begin this month, say reports, with a decision expected to be made shortly afterwards.
Público says that in the last nine years (since the NHR began) 3000 Swedes have “chosen to live in Portugal”.
The influx began slowly, says the paper, but as soon as NHR “became well known” hundreds arrived every year bringing with them a corresponding boost to various sectors of the local economy.
