Magnificent five bedroom traditional quinta style house located in the outskirts of Funchal.
In need of restoration but habitable and well conserved.
With 1127m2 and a cottage. Initially built in 1937.
The bedrooms all have very high ceilings and are a good size. A maids quarters. Gardens and viewpoint.
Enough room to include a private swimming room. Driveway.
The Quintas of Madeira are today one of the region's great attractions. Many have been restored for different purposes, such as holiday accommodation, museums, and cafés. The Quintas of Madeira boast large, spacious blooming gardens, brimming with the rarest and most varied plant life, and offer spaces that have since disapeared with the more modern structures.
Non - Habitual Resident Regime
A Non-Habitual Resident ('NHR') will be exempt from personal income tax on certain types of qualifying income if this income is subject to tax in the country of source under an existing Double Tax Treaty that allows for this or, if no Tax Treaty exists, were subject to tax in another jurisdiction and are not considered as Portuguese source income under domestic rules. Certain types of qualifying income under the regime will also benefit from a double tax exemption i.e. an exemption in Portugal and in the source jurisdiction. A special flat rate of 20% is also applicable for certain types of income arising from a number of highly qualified activities.
Pensions, dividends, royalties and interest from non-Portuguese sourced income are exempt from personal income tax in Portugal. Certain types of salaries, provided they are paid from a non-Portuguese source, can also be exempt from tax.
Any individual who has his habitual residence in Portugal or who spends more than 183 days in Portugal in the tax year, which runs from 1st January to 31st December or has a dwelling in Portugal at 31 December of that year with the intention to hold it as his habitual residence, and has not been taxed in Portugal, as tax resident, in the previous five years.
You may apply when you have become a Portuguese tax resident or before 31st March of the following tax year.Successful NHRs will have access to all the benefits of an ordinary Portuguese tax resident including healthcare.
Rental is an option under the NHR regime. As occurs when you purchase a property, if you are renting a property you may be required from tax authorities to provide evidence of your address in Portugal, which can be done through providing a copy of your rental contract.
After your registration as a NHR in Portugal you are able to request an international certificate of residence to the Portuguese tax authorities. This document then has to be sent to the tax authorities of source of income and that should enable you to be exempt of tax in that jurisdiction, unless a withholding tax applies.