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Not knowing the details of Canadian Tax Regime, I can't say what you may save but my bet is that it may be quite a bit.
I was luckily allowed both residency and NHR early 2019 (a UK Citizen) where Portugal offered 0% tax incentives over 10 years.
I used to be an IFA in UK so had a bit of insight on tax incentives, planning etc, but knew nothing of Portugal system.
As such, my nominal tax rate reduced from standard 21%, and I was firmly in the 40% higher tax bracket in UK.
That reduced to 0%, but now, I believe, it would be 10% as NHR is less generous since 2020.
In addition, I still retain my UK personal annual allowances (around £12300 this tax year) to offset my private rental income in UK!
I completed the move on my own without tax advice although I do strongly advise that you purchase the "Living in Portugal" paperback from Blevin Franks who are also international tax advisers.
Worth its weight in Gold. Up to date, accurate, under 10 Euro.

That book should explain everything you need.
For my annual tax return in Portugal I use Atlantic in Villamoura.  That costs me about 300,Euro per year and very efficient.
I have no experience of their tax advice but I find their tax return service very good indeed.
Good luck.
Alan

Hi Alan,

Thanks for the reply.  I looked at the link you provided and I found them online before as well.  I know very little on tax matters myself so I am going to use someone to help me understand in plain language what is involved.  I also think that my situation is slightly different since I am still working (I'm 50)

Josh

I used Edge International as tax and immigration lawyers and was satisfied.  Probably cheaper than Blevins which I found outrageously expensive when I tried to use them for a specific issue.

Thanks Patrick!

Yes. Blevins accept that they are not the cheapest option.
They do have the expertise and their book is exceptional - much more than a marketing gimmick and lead generator with little of value.
It also gives seriously good advise on house purchase, driving licence laws, acquiring health care etc.  Much of which I would personally have overlooked, and one which could have had serious legal consequences if I hadn't taken action.
All I suggest is that if you educate yourself with the detail within then you can probably save yourself a fortune on any subsequent tax advice.
When I eventually met a Blevins Adviser for a "free cinsultatiion" when considering advice, U was told that It is unlikely I needed it as I was "95% there".
If your company is paying, then sure, contract with Blevins, however.

Hi Josh, curious if you got answers to your questions or found a good tax advisor. I’m researching the same things hoping to make the move from Montreal this year. Any resources would be much appreciated. Thanks!

Can you be more specific.  When I googled Edge International I got a slew of different companies.

Maybe this one?

I am still in the process of sorting this out.  If I have any good info I will report back.

Promoting Portugal to US retirees


Professionals from areas such as real estate, health and taxation will join together in a digital event aimed at promoting Portugal to US citizens looking for solutions and alternatives for retirement.

The event is called "BetterLife 50 plus" and will be broadcast by Zoom and via the social network Facebook on Friday and Saturday (June 18 - 19, 2021):



Participation in BetterLife 50 plus is free, but subject to registration.

_____

slugsurmamates wrote:

Not knowing the details of Canadian Tax Regime, I can't say what you may save but my bet is that it may be quite a bit.
I was luckily allowed both residency and NHR early 2019 (a UK Citizen) where Portugal offered 0% tax incentives over 10 years.
I used to be an IFA in UK so had a bit of insight on tax incentives, planning etc, but knew nothing of Portugal system.
As such, my nominal tax rate reduced from standard 21%, and I was firmly in the 40% higher tax bracket in UK.
That reduced to 0%, but now, I believe, it would be 10% as NHR is less generous since 2020.
In addition, I still retain my UK personal annual allowances (around £12300 this tax year) to offset my private rental income in UK!
I completed the move on my own without tax advice although I do strongly advise that you purchase the "Living in Portugal" paperback from Blevin Franks who are also international tax advisers.
Worth its weight in Gold. Up to date, accurate, under 10 Euro.

That book should explain everything you need.
For my annual tax return in Portugal I use Atlantic in Villamoura.  That costs me about 300,Euro per year and very efficient.
I have no experience of their tax advice but I find their tax return service very good indeed.
Good luck.
Alan

The 10% applies to pensions. Salaries and self employment income 20% tax rate on approved occupations -  there is a published list.

Rental income, dividend income, interest income - mostly tax free in Portugal if income from abroad. Portuguese source income does not qualify for these benefits. If this income is from 'black listed' countries (Portuguese black list - other lists are not relevant), it will be taxed at 35% rate - if there is no double tax treaty with the country / territory concerned - some countries are on the black list and there are double tax treaties with Portugal.

Capital gains from fixed property abroad - also tax free - but have to double check with double tax treaty if source country has the right to tax (if the source country has the right to tax, then tax free whilst in the nhr regime - the same rule as for interest, dividends). This is not the case with regards to capital gains on financial instruments (shares, bonds, etc) - though at least one exception to this rule - Canada has the right to tax citizens for a certain period after leaving Canada, therefore, in principle, should qualify for the rule 'tax free if the other country has the right to tax income - best to refer to the specific rule in the Canada Portugal double tax treaty.

If the source country does not tax the income as listed above (interest, dividends, capital gains on fixed property), it will still qualify for 0% rate - as the wording is 'may' in the legislation ie if the source country has the right to tax in terms of a double tax treaty, then it will be tax free in Portugal under the nhr rules, even if the source country does not effectively tax such income - does not require actual tax bill to be raised.

Need a contact for tax consultant who would be able to provide detailed consultation if we apply for D7 resident visa. We are canadian citizens have active and passive income and capital gains in canada.

Fábio Emanuel Olmo
PwC | Tax - People and Organisation | Manager
Office: +351 213 599 671 | Mobile: +351 919 937 219
Email: fabio.emanuel.olmo@pwc.com
PricewaterhouseCoopers Tax Services TLS, Lda.
Palácio Sottomayor, Avenida Fontes Pereira de Melo, nº 16 | 1050-121 Lisboa

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Algarve - Portugal
Mobile and whatsapp: +351 968 465 957
Site:
Email: paula.santos@taxteamconsulting.com 
Prgl Av Gen Humberto Delgado, Edf Solário – loja 4
8335-138 Armação de Pêra
Algarve - Portugal

They also have offices in Canada, and work together for taxes in Canada as well as Portugal


Isabelle Gariépy, CPA, CA, LL.B.
Associée | Partner
Fiscalité américaine et internationale | US and International Tax
T : 450.723.8177 (poste/ext.: 202)
F : 450.723.8178
5005 boulevard Lapinière (Suite 5070)
Brossard, QC, J4Z 0N5

Isabelle Gariepy

@Wingover Hi there, I just came across your post and am exploring a similar situation that you described. Were you able to figure out the tax implications or find a good legal/tax advisor that you could recommend? Any help would be greatly appreciated, thanks!

@LorieAnneC thank you!