Algarve Villa Purchase Under NHR Tax Status for a Retired Couple
€520,000 · 15 years · Euribor +1.20%. A retired couple from Cheshire were attracted by Portugal's Non-Habitual Resident tax regime and planned to relocate permanently to the Algarve.
The Client
Retirees Relocating Overseas
The Challenge
A retired couple from Cheshire were attracted by Portugal's Non-Habitual Resident tax regime and planned to relocate permanently to the Algarve. They had identified a four-bedroom villa near Tavira and needed a Portuguese mortgage alongside their NHR application.
Our Solution
Doulton co-ordinated the Portuguese mortgage with the NHR tax application process. A Portuguese bank with a dedicated non-resident service was used, and the application was built around the couple's UK pension income. NIF numbers were obtained via the Portuguese consulate.
The Outcome
Villa purchased and NHR status granted. The couple are now Portuguese residents benefiting from the NHR tax framework. Annual Portuguese income tax on their UK pension income substantially reduced. Key highlights: NHR application co-ordinated with mortgage process; NIF numbers obtained via consulate; UK pension income accepted - significantly reduced tax exposure.