Country vs country
Portugal vs
Italy
Side by side for a genuine tax resident, with €150,000 a year in dividends or foreign income.
| Portugal | Italy | |
|---|---|---|
| Personal income | 20% / 0% | €300k flat |
| Company tax | 20% | 24% |
| Minimum days | 183 | 183 |
| Cost of residency | Medium | Expensive |
| Tax on €150,000 a year | €0 | €300,000 |
| Monthly cost for one person, rent included | €2,025 | €2,350 |
| In the EU | Yes | Yes |
| Spanish blacklist | No | No |
| Crypto gains | 28% on crypto held under 365 days; gains on crypto held 365 days or more are exempt. | From 2026 crypto gains taxed at 33% (was 26%), no EUR 2,000 exemption. Option to step up value paying 18%. |
| Pension | Old NHR 10% closed to newcomers; new IFICI regime excludes pensions, so progressive rates up to 48% apply. About 20% effective. | Foreign pensioners moving to southern towns under 20,000 inhabitants can opt for 7% flat on foreign income for 10 years. |
Who wins
- Less tax: Portugal
- Cheaper to live in: Portugal
- Fewer days required: Tie
- Easier to settle in: Portugal
It depends on your case: your nationality, the country you leave and how you earn your money change the answer.