Taxes
Americans Rush to Portugal Ahead of Changes to Expat Tax Breaks
A program that can save foreigners hundreds of thousands of euros is being phased out and people are scrambling to make sure they qualify.
Tourists pass diners on Pink Street in the Cais do Sodre district of Lisbon, Portugal.
Photographer: Goncalo Fonseca/BloombergThis article is for subscribers only.
Americans are rushing to Portugal to get ahead of changes in tax policy that will eliminate financial benefits for expats who relocate to the country.
An end to tax breaks for so-called “non-habitual residents” in Portugal, announced by the prime minister in October as part of a broader push to address the country’s housing crisis, has led to a surge of Americans filing for tax residency.