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Old 08.02.2019, 18:27
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Swiss Citizen Moving to Portugal - Tax Impact in Portugal of Liquidating Libre Passag

I am a Swiss citizen and planning to leave Switzerland for residency in Portugal and want to liquidate my "libre passage" account. I have a good understanding of the process in Switzerland and will move the account to Schwyz to minimize Swiss taxes on the withdrawal. What is unclear to me is whether or not Portugal will have the right to tax this transfer of funds from a retirement vehicle to cash. As you can only liquidate the Swiss account when you have a new residency abroad you are of course under the tax jurisdiction of that new residency. I looked up the double taxation treaty and it seems to say that a lump sum withdrawal of a pension is not subject to Portuguese taxes but I am looking for experience of anyone who had done this. I received contradicting interpretations of the treaty from a Portuguese lawyer (there is some risk of taxation) and from a Swiss fiduciare (no risk). Am wondering if anyone has any experience on this or a source that I can reliably use.
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Old 12.04.2019, 13:13
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Re: Swiss Citizen Moving to Portugal - Tax Impact in Portugal of Liquidating Libre Pa


Were you able to get a clear answer on your situation?

I am looking to do the same thing as you, but I am not able to to find any trace of any mention of a Portuguese tax on doing lump sum withdrawals of 2nd and 3rd pillars. I am interested in the tax consequence with or without having the 'non-habitual resident' status in Portugal.

Note: I contacted tax/law service in Lisbon that specialises in helping people (probably mostly Brits) make the move to Portugal, but the meeting was not fruitful and it was a bit frustrating to be there explaining the 3 pillars systems to them. I would love to find a PT expert that dealt with former CH residents.

It would be greatly appreciated if you can share any progress you may have made.

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