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Do you wonder why people invest in Madeira? Let’s start with the beginning: Madeira Island, Portugal, is just under a two-hour flight from Lisbon and has been consecutively voted the “World’s Leading Island Destination” by World Travel Awards. The principal island of...
Taxpayers in the Non-Habitual Resident (NHR) tax regime who choose to be taxed at the special 20% IRS rate cannot use education or health expenses (tax deductions) to lower the tax they have to pay. A taxpayer who has had NHR status since 2017 asked the Tax and...
Preparing for a successful move to Madeira implies long-term planning and understanding of the implications of relocation. Our team of professionals has assisted many expats over the year. From experience, 90% of them do not plan their move to Madeira properly or fail...
The amendment to the Personal Income Tax (IRS) Code that the State Budget Law established for 2022 (no. 12/2022, of 27 June) makes it mandatory to aggregate income from capital gains on securities when the assets in question have been held for less than 365 days, and...
The war initiated by Russia against Ukraine is affecting Ukrainians and Russians in Portugal. Given this, our team at MCS has prepared the following piece of information concerning Ukrainians and Russians in Portugal and what they should expect should they decide to...
Portugal is immensely popular among British expats; after all, the country is UK's oldest ally. The number of British citizens is around 46.280, and the Autonomous Region of Madeira is one of the most preferred regions in Portugal by the British. The reasons why...
Taxes in Portugal for expats are, for many, a dream come true. In fact, under the Non-Habitual Resident (NHR), taxes in Portugal for expats are considerably lower. The NHR scheme is the special Portuguese taxation regime applicable to the foreign income of natural...
Expats in Madeira face several relocation matters that need to be addressed by local experts; most of the time, taxation in Madeira is one of them. After all, relocation as an ex-pat will involve some level of bureaucracy to a degree. In this short blog post, we will...
Most expats reaching out to us wonder how to move to Portugal effectively and what steps one must take from an immigration and taxation standpoint. Our team of professionals (lawyers, accountants and economists) have come up with four steps that one needs to go...
Relocating to another country is a major life change that sometimes can be stressful, and the same is true for expats in Portugal. There are several legal and administrative procedures that one should be aware of to ensure the transition occurs as smoothly as...