🇵🇹 PORTUGAL VS SPAIN 🇪🇸 Tax experts explain strategies for expats
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- Опубліковано 13 сер 2024
- Be sure to check out as well: • WHERE TO OPEN A COMPAN...
Can expats pay less tax in Portugal or Spain when moving there? Through the Spanish Beckham Law and the revised Portuguese NHR scheme, along with other strategies it is possible to one's taxes in both countries. In this video I'm joined by Marilo Pardo and Pedro Abreu, tax advisors at Fresh Legal. We talk about the tax system in Portugal and Spain, and the taxation of local and foregin personal income, property and crypto taxation and tax reporting requirements.
** This video is sponsored by Fresh Legal **
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Mentioned in this video:
🔹 Book a consultation with Marilo Pardo: www.fresh-legal.com/book_servi...
🔹 Book a consultation with Pedro Abreu: www.fresh-legal.com/book_servi...
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Chapters:
0:00 - Intro
1:25 - Which is better - Spain or Portugal?
2:18 - Expat tax schemes - Spain's Beckham Law
4:26 - Expat tax schemes - Portugal's former NHR scheme
6:50 - Expat tax schemes - Portugal's new TISRI scheme
9:25 - Tax reporting requirements in Portugal and Spain
13:40 - Are the tax authorities very strict?
16:27 - Property taxation in Portugal and Spain
23:28 - Inheritance and Gift Tax
28:31 - Taxation on Cryptocurrency
33:19 - Are there any further tax reforms planned?
36:08 - Tax strategies for expats moving to Spain and Portugal
38:53 - Important info for expats with a foreign entity
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About me:
Welcome to Millennials With Money!
My name is Jonny, I'm a financial analyst from the UK, currently living and working in Spain.
I created this channel to help and inspire young people to improve their financial situation and live life to the full by sharing my own experiences with money and living abroad.
I upload content on a weekly basis about personal finance, how to invest your money, tips to help you save more money, real estate and property, and travel and living overseas.
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#spain
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DISCLAIMER: The opinions and views shared on this channel are for entertainment and educational purposes only and are not to be taken as financial advice. Always conduct your own research prior to making any financial decision. Millennials With Money cannot be held responsible for any financial loss incurred from any decisions you make following this video.
Which one would you choose? Leave a comment and let me know!
And be sure to check out Fresh! Links in description!
Certainly not Portugal anymore.
Many thanks Johnny, great episode with two knowledgeable guests. One to bookmark for sure.
Thanks for watching!! Glad you found it helpful!!
You did a great job as an interviewer, Johnny. Its awesome to see the compound interest on your subscribers too.
Thanks Brian!! Much appreciated 😁
Thank you, you are professional in your work and we hope for more
Let's face it- most people who think of retiring are pensioners. Neither Spain nor Portugal is friendly - taxwise - towards this category of potential residents. European countries are undergoing lean years with little growth so no wonder that their governments want to grab more money from newcomers. Their choice but also their lost opportunity to attract more people. There are and will be other places that become more attractive than Spain and Portugal to retire.
One solution is to live less then 180 days in Portugal and then less then 180 in fx Thailand
You can catch the good seasons weather wise in both
Could Pedro explain more about the research and science part of the new law like do phd and university professor/ researcher qualify for tax exemption? I heard they do.
Hey Shakira, check out this link on the Fresh website which gives a bit more insight on the program: freshportugal.com/post/the-definitive-guide-to-tisri---the-new-post-nhr-tax-benefits-scheme-in-portugal-
very good
شكر 🙏🏻
Do you know of a calculator that will help you get a sense of taxes in Portugal vs Spain?
Hey Heidi, Fresh have a calculator on their website for Portugal if I’m not mistaken, for Spain I have downloadable calculators on my website store, the basic one is free for newsletter subscribers: millennialswithmoney.com/store/. Hope this helps!
Forget getting a retirement visa in Portugal the Govnt is incompetent SEF was turned off b4 new replacement Aimia was up and running , result. Meltdown chaos more importantly they know its a shambles but simply dont care! Retire somewhere else where they appreciate your investment
They killed Portugal for digital nomads... well, I can't really say I didn't see that coming with all the problems Portugal has been facing due to massive immigration.
I don’t think asking digital nomads to pay the tax rate that locals pay is “killing Portugal”, but it certainly is no longer a cheap place to live.
quite worried here bro, don't know whats the best for a citzenship plan and paying low taxes while on it
Beckham Law is not applicable to U.S. Citizens or residents with a Digital Nomad Visa. 🙄 U.S. Social Security Admistration is not allowing certificates to any U.S. employee/s. Although some did manage to squeeze through the system, they will eventually find out the consequences. Fast forward, only self-employed or registered companies (owner/employee) paying directly to Spains social security may be granted the DNV. Consequently - CANNOT APPLY FOR THE BECKHAM LAW!!! Lawyers know laws but not taxes. Beware of lawyers vs tax accountability! Either way, professionals like to say, "Sorry," but it didn't work after they took your money!!!😢
I've heard the only to make it is to opening a company in Spain and registering yourself as a employee, mostly a tax maneuver, but if you take into consideration all the expenses it doesn't really make that sense for middle income earners.