Portugal's NHR: Changes on the horizon in 2024

In 2009, during the financial crisis, the Portuguese government introduced the Non-Habitual Residency (NHR) program to encourage foreigners to move to Portugal. This initiative offered some remarkable tax incentives, including a 20% flat tax rate on employment and self-employment income, while income from foreign sources remained mostly tax-exempt. The NHR program became increasingly popular among expats, but its success brought about some unforeseen challenges.