Tax on US Social Security Income

Hi CBW123, Welcome

That 10% is only applied if you apply for Non-Habitual Resident Statute (NHR), and as such, obtain tax benefits by becoming tax resident in Portugal.

https://www.expat.com/forum/viewtopic.php?id=911492

If you apply for a residence visa you do not pay this.

A resident permit (apply for a visa) is nothing to do with NHR tax regime.

I'd also like to know if there's a tax in Portugal on Social Security income.

Also, since Portugal and France are our two top retirement choices, could I ask why you're choosing to leave France for Portugal?

Thanks...

How is if you bring savings, and have no income other than maybe rent from whats depositen in a PT bank. how would you be taxed, with and without NHR ?

Oh and how is Crypto currencies taxes in PT ?

Regards
Lars

Hi Lars,

Your income is only taxed in Portugal if you become a tax resident in Portugal. The NHR Regime, as well as all the benefits inherent to that fiscal statute, are widely described in NHR link below, so your questions are explained there.

Regarding cryptocurrencies, any profits earned from the sale of cryptocurrencies are not taxable in Portugal, unless that cryptocurrency activity is your professional activity with the aim to make profits. If this is your case, cryptocurrencies will be taxed under the category of self-employed worker, just like any other self-employed activity carried out in Portugal, whether by a Portuguese worker or a worker of other nationality.

https://www.expat.com/forum/viewtopic.p … 92#5229529
(Post #21)

Hi, Sally.  We adore living in France (we have lived here 6 years). We live in a most wonderful region called the Gers that is rolling hillsides, vineyards and has been an amazing haven for us during Covid.  We do love it here. That said, we have always loved Portugal. We chose France because we felt that Portugal was too quiet for us (the area that we love in Portugal is in the Alentejo, specifically Marvao). 

But after basically two years in lock-down here, we realize that we can live with 'quiet' anywhere. So we have our small 2bedroom/2bathroom farmhouse on the market and would like to move to Tavira, on the Portugal coast.  I suspect that the cost of living is quite similar (our area is very reasonable here), but I think we'll enjoy the weather more and the diversity of people.  France is a wonderful place to live (especially if you speak some French) and I recommend renting for a year before making a decision!!

We are very lucky to be on the French health care system, which is excellent.  A huge bonus to living here, indeed. But I suspect the same will be true in Portugal.  Anyway, if you have any questions, feel free to message me:))  Good luck to you in your decisions!!

Thank you so much for this information. I really appreciate it.

To be clear, I take it I can live full-time in Portugal without being NHR?  I

CBW123 wrote:

To be clear, I take it I can live full-time in Portugal without being NHR?  I

Of course you can, but having the nhr gives the tax payer options. If you are resident, and earn any income whatsover from whatever source, it should be disclosed.