Expat Community > Portugal

c0000
Joined 2022
Posts: 2

Taxes

2 years ago

Can anyone refer me to someone who can answer questions about income qualification for D7 visa and stock capital gains tax?

QUESTIONS

1. My wife and I do not have pension income, but we have more than enough in stock holding. Also, we realized capital gains when we sold real estate in 2021. 50% of this is treated as income by the Canadian government. Hence, my wife and I have a combined income of over CAD 100,000 for 2021. We will be selling another property this year in 2022 and will get an income of CAD 70,000, which is equivalent to EUR 53,000. Will this satisfy the D7 income requirement? If not, we can withdraw cash from our RRSP (registered retirement savings plan). Canada treats RRSP withdrawals as income. Does Portugal treat this as passive pension income to qualify for the D7 visa? If so, which document do we need to provide??

2. The NHR (Non-Habitual Resident) tax regime reduces income tax to 20% and 10% for pension. Does the D7 resident qualify for the NHR??

3. According to https://www.portugal.com/moving-to-portugal/guide-to-the-non-habitual-resident-nhr-tax-regime, the NHR tax rate is 0% on capital gains realized outside of Portugal. Is this correct? Does this include capital gains on securities, such as stocks??

4. Canada has registered accounts, which are RRSP, RIFF (registered retirement income fund) and TFSA (tax free savings account), which cannot be moved out of Canada. I made investments in these accounts, into stocks, mutual funds, etc. Capital gains, dividends and interest income in these accounts are not taxed. Am I correct to assume that Portugal will not tax these in these accounts as well? (Canada taxes withdrawals from RRSP and RIFF as income.)?

5. As a Portuguese resident, if I have a EUR 100,000 of income, can this be split with my wife, so that each of us have EUR 50,000 of income and the tax rate is based on the EUR 50,000 of income??

6. Canada has a departure tax. When a Canadian moves away, all unrealized capital gains (outside of registered accounts) are realized and taxed. Does Portugal have a departure tax??

7. Can I open a bank account AND a brokerage account remotely from Canada? I heard that the bank needs proof of housing, but the house renter needs a bank account number. How is this possible??

8. According to https://www.portugal.com/moving-to-portugal/guide-to-the-non-habitual-resident-nhr-tax-regime, properties in Lisbon, Porto and coastal towns are no longer eligible for Golden Visas. Exactly what are all of the areas that are not eligible for the Golden Visa??

9. According to https://www.theportugalnews.com/news/2022-08-09/english-golden-visa-investor-beats-sef-in-court/69333 the process to get the Golden Visa can take up to 18 months. How long is the process now?

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Taxes

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