Proposed EU Long Term Residency Changes as Alternative to Portugal GV

Jeff,

One big issue with Spain is their version of the “wealth tax” which is levied on your world-wide assets. It is tiered, but if you do have assets (not just cash, but also real estate, vehicles, art, jewelry, etc., though some might be hard to locate for the authorities), you might end up with a substantial annual tax bill on the property that you have already acquired presumably paying due taxes. A friend of mine who moved to Spain has overlooked this “nugget”, and is now somewhat regretting it. I certainly took that into account when selecting Portugal.

Spain is far more efficient in its GV programme, but beware of hidden costs.

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Agreed. Spain has a higher tax burden / risk for non-resident visa holders. I also think Spain has an imputed income tax even if you don’t rent out your property there…

fair point, acknowledged. all the answers come with caveats.

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Just go straight o the SEF.pt website to read the requirements firsthand https://imigrante.sef.pt/en/direitos-deveres/