Taxation
Portugal taxation 2026: NHR 2.0, Golden Visa, IMT and IMI explained
The real Portuguese tax regime for a French buyer in 2026, without the myths still circulating online.
Portugal remains tax-competitive, but the rules changed in 2024. Here is the 2026 picture, with no sugar-coating.
NHR 2.0: who actually qualifies
NHR 2.0 (also known as IFICI) is reserved for new tax residents carrying out a qualified activity: scientific research, innovation, tech, healthcare, higher education, certified startups. Unlike the old NHR, it is no longer available to simple retirees or passive-income earners.
Golden Visa 2026: what remains possible
Since October 2023, direct real estate investment has been excluded. The routes still open are:
- Qualified investment funds — €500,000
- Creation of 10 local jobs
- Cultural donation/patronage — €250,000
IMT and Imposto do Selo
IMT (property transfer tax) is progressive: 0% up to €101,917, then 2, 5, 7, 8%, capped at 7.5%. The Imposto do Selo is a flat 0.8%.
IMI and AIMI
Annual property tax: 0.3 to 0.45% of the rateable value (often 40 to 60% of the real price). AIMI of 0.4 to 1% applies to assets above €600k.
Capital gains on resale
Non-resident: 28%. Portuguese resident: 50% of the gain added to the income tax scale, with an exemption if reinvested in an EU main residence.
See also our investing in the Algarve page.
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