For pensions valued above £100,000

• The Calpe Retirement Benefit Scheme – Information Sheet – Download
• The Calpe Retirement Benefit Scheme – Scheme Particulars – Download
• The Calpe Retirement Benefit Scheme – Application Form – Download
• The Calpe Retirement Benefit Scheme – Benefit Election Form – Download
• The Calpe Retirement Benefit Scheme – Additional Contributions Form – Download

HMRC Forms

• APSS262 – Download
• APSS263 – Download
• CA1890 – Download

Investment Providers

The following hyperlinks will lead you to websites which are not under the control of the Sovereign Group. These links are provided for your convenience and do not represent any endorsement, recommendation, approval, guarantee or introduction to any third parties or the services/ products they provide on their websites by the Sovereign Group in respect of investment; financial; tax; legal; or any other form of advice. You should not rely on these links to make, or refrain from making, any investment decisions.

When you access these links you will leave the Sovereign Group website. For complete information on Sovereign’s policy regarding third-party websites, please refer to our privacy policy.

• FPI
• Generali
• Hansard
• Old Mutual International
• RL360
• SEB
• Providence Horizon PB

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• More than 183 days in Portugal within any 12-month period; or
• Fewer than 183 days in Portugal but have residential accommodation that the Tax Department considers to be your ‘permanent home’.

Residents of Portugal are liable for Portuguese tax on all their worldwide income and some capital gains. They may also attract taxes on property rental, transfer of real estate

Non-residents of Portugal are liable for Portuguese tax only on Portuguese-source income and certain capital gains on Portuguese assets but remain liable for taxation in their country of residence.

As per Law n.º 55-A/2025, de 22/07

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The basis to determine the tax residency of a company in Portugal takes into consideration whether the legal seat or place of effective management and control is based in Portugal.

1. A surtax of 1.5%, levied by the local council (Câmara Municipal), may apply.
2. A national surtax of 3% to 9% applies to taxable income over €1.5 million.
3. Qualifying small or medium enterprises (SMEs) may benefit from a reduced tax rate of 17% on the first €50,000 of taxable income and are subject to 21% on the remainder.

Withholding Taxes

Dividends – Dividends paid by a Portuguese entity to a non-resident company suffer a withholding tax of 25%, but if paid to a company with registered office in a ‘blacklisted’ jurisdiction (see list attached) the tax charge will rise to 35%. The withholding rate may be reduced under a double tax agreement (DTA), or it may be exempted under the EU Parent/Subsidiary Directive.

Royalties – Non-resident companies pay a 25% withholding tax on royalty payments unless the withholding rate is reduced under a DTA.

Interest – A non-resident company receiving bank interest will pay a 25% withholding tax (rising to 35% if registered in a ‘blacklisted’ jurisdiction) unless the withholding rate is reduced under a DTA.

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