List of Countries with Favourable Tax Regimes under Portuguese Tax Law

Updated in accordance with Portuguese Ordinance No. 150/2004 and subsequent amendments

What is this list about?

Portugal considers certain jurisdictions as offering more favorable tax regimes, commonly referred to as tax havens or low-tax jurisdictions.

This classification, established under Ordinance No. 150/2004, is used by the Portuguese Tax and Customs Authority (Autoridade Tributária e Aduaneira – AT) to apply specific anti-abuse rules in matters such as transfer pricing, CFC (Controlled Foreign Company) legislation, and other tax compliance contexts.

Entities or individuals with connections to jurisdictions on this list may be subject to stricter reporting requirements, higher tax rates, or limitations on tax benefits in Portugal.

List of Countries, Territories and Regions

  1. Anguilla
  2. Antigua and Barbuda
  3. Netherlands Antilles
  4. Aruba
  5. Ascension Island
  6. Bahamas
  7. Bahrain
  8. Barbados
  9. Belize
  10. Bermuda
  11. Bolivia
  12. Brunei
  13. Channel Islands (Alderney, Guernsey, Jersey, Great Sark, Herm, Little Sark, Brechou, Jethou, Lihou)
  14. Cayman Islands
  15. Cocos (Keeling) Islands
  16. Cook Islands
  17. Costa Rica
  18. Djibouti
  19. Dominica
  20. United Arab Emirates
  21. Falkland Islands (Malvinas)
  22. Fiji Islands
  23. The Gambia
  24. Grenada
  25. Gibraltar
  26. Guam
  27. Guyana
  28. Honduras
  29. Hong Kong
  30. Jamaica
  31. Jordan
  32. Qeshm Island
  33. Kiribati
  34. Kuwait
  35. Labuan
  36. Lebanon
  37. Liberia
  38. Liechtenstein
  39. Maldives
  40. Isle of Man
  41. Northern Mariana Islands
  42. Marshall Islands
  43. Mauritius
  44. Monaco
  45. Montserrat
  46. Nauru
  47. Christmas Island
  48. Niue Island
  49. Norfolk Island
  50. Sultanate of Oman
  51. Pacific Islands not otherwise specified
  52. Palau Islands
  53. Panama
  54. Pitcairn Island
  55. French Polynesia
  56. Puerto Rico
  57. Qatar
  58. Solomon Islands
  59. American Samoa
  60. Samoa (Western Samoa)
  61. Saint Helena
  62. Saint Lucia
  63. Saint Kitts and Nevis
  64. San Marino
  65. Saint Pierre and Miquelon
  66. Saint Vincent and the Grenadines
  67. Seychelles
  68. Swaziland
  69. Svalbard (Spitsbergen Archipelago and Bjornoya Island)
  70. Tokelau
  71. Tonga
  72. Trinidad and Tobago
  73. Tristan da Cunha
  74. Turks and Caicos Islands
  75. Tuvalu
  76. Uruguay
  77. Vanuatu
  78. British Virgin Islands
  79. United States Virgin Islands
  80. Yemen Arab Republic

Please note: This list may be subject to changes. For legal certainty, it is advisable to consult the most recent version published in the Diário da República.

This list is periodically updated by the Portuguese Government and published in the Diário da República. The official list can be viewed here: https://diariodarepublica.pt/dr/legislacao-consolidada/portaria/2004-105808897

If you need further clarification on how these rules may affect your investments or require assistance with any tax-related matters, our team is here to help.

Feel free to contact us at info@afm.tax or call +351 281 029 059.