'People are panicking trying to move here': Portugal attracts digital nomads by setting tax breaks for foreigners

few ways to get a "golden visa" for the country.

Then in October, Portuguese Prime Minister Antonio Costa told CNN Portugal that the Non-Habitualized Tax Residency (NHB) tax regime will also end in 2024. This allowed people to live in Portugal for 10 years while paying a flat income tax of 20% on money earned in the country.

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This is in contrast to the tax rates for Portuguese citizens, which range from 14.5% to 48%. The termination of these programs is a clear signal from the government that foreign investment is not welcomed as it once was.

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