Portugal's government published a programme for 2025-2029 that includes tax-related policy signals. This guide explains what the plan actually says about NHR, IFICI, and broader tax policy, what it does not say, and how to think about it without over-reacting to political signals.
Headlines suggesting "NHR is coming back" oversimplify what is a political programme, not a legislative act.
The programme document includes language about attracting talent and investment to Portugal, maintaining competitive tax incentives, and reviewing the effectiveness of existing measures. Some of this language has been interpreted as signalling a potential revival or expansion of NHR-type benefits.
In practice, a government programme is a statement of intent. It is not legislation. It does not create rights, obligations, or new regimes. Between a programme statement and an applicable law, there are multiple legislative and regulatory steps.
The short answer: not in its original form, and not through this programme alone.
What the programme signals is a willingness to consider further incentive frameworks. Whether that results in changes to IFICI, a new incentive regime, or modifications to existing rules depends on future legislative action.
Planning based on what a government programme might become is speculative. Planning based on what the law currently is remains the professional standard.
IFICI replaced NHR as the primary tax incentive for new residents engaged in qualifying activities. The government programme does not explicitly revoke or replace IFICI. If anything, the language suggests continuation and potential refinement of incentive frameworks.
For taxpayers currently in the IFICI application process or already registered, nothing in the programme changes your current obligations or treatment. For details on IFICI eligibility and application, see our IFICI practical guide.
Beyond NHR and IFICI, the programme touches on several areas relevant to expats and cross-border taxpayers:
Each of these requires specific legislative implementation before it changes any taxpayer's position.
Government programmes in Portugal (and elsewhere) follow a pattern:
Until step 4, nothing changes your filing position. Even after step 4, the effective date and transitional provisions matter.
The useful approach is to monitor developments without making premature planning decisions based on headlines.
If you are currently planning a move to Portugal, already resident, or in the middle of regime-related decisions:
| Feature | NHR (repealed for new entrants) | IFICI (current) | Future framework (speculative) |
|---|---|---|---|
| Eligibility | New residents, 5-year non-residency | Activity-dependent, entity validation | Unknown |
| Income scope | Foreign + Portuguese qualifying income | Primarily Portuguese-source qualifying income | Unknown |
| Duration | 10 years | 10 years | Unknown |
| Tax rate | 20% flat on qualifying income; exemptions on foreign income | 20% flat on qualifying income | Unknown |
| Status | Closed to new applicants (transitional rules for some) | Active and accepting applications | No legislation proposed |
There is no legislation currently proposed to reinstate NHR in its original form. The government programme includes language about competitive tax incentives, but a programme is not a law.
That is a personal decision, but from a tax planning perspective, delaying based on speculative future benefits is usually not productive. Plan under current rules and adjust if legislation changes.
No. A government programme does not change existing law. If you are already registered under NHR or IFICI, your treatment continues under the rules that were in place when you registered.
The most likely vehicle for concrete changes is the annual State Budget. Monitor the budget proposal for 2026 when it is published, typically in the autumn of the preceding year.
Last reviewed: February 8, 2026. Educational content only. Not personal tax or legal advice. Tax outcomes depend on your facts, filing history, and applicable law at the time of filing.