Portugal will pay a benefit of 1,500 euros to those with higher education

The Portuguese government will pay a An annual salary of up to 1,500 euros For residents who have completed Top level courses From 2023. According to the legislative decision, graduates and masters will receive an annual award of 697 euros for each year of graduation (called a bachelor's degree in the country), in addition to 1,500 euros for each year of a master's degree.

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Furthermore, the text states that students who completed higher education studies before 2023 can also benefit from this measure. However, you will need to have graduated earlier than the duration of your courses. In other words, if a person has completed a two-year master's degree a year ago, he or she will be entitled to the benefit.

Payment will be made for the same number of years as the course of study. Transfers will be available via bank transfer from the IRS, free of Social Security contributions and without filing with the IRS. According to the Portuguese government, this measure will cost 215 million euros to the public treasury in 2024.

Who is entitled to payment?

The new benefit will be paid to all taxpayers residing in Portugal, whether Portuguese or foreign, up to the age of 35. To be eligible, you must have earned a bachelor's (licensure) and/or master's degree from a national institution of higher education, whether public or private, in 2023 or later.

In the case of foreigners, academic certificates obtained in other countries are also valid for the benefit, as long as they are recognized in Portugal. Furthermore, young people must have Category A (dependent employment) or Category B (self-employed) income.

The status of taxes and contributions must be settled before the Portuguese tax and social security authorities. Finally, to obtain the amounts, the Portuguese Government advises interested parties to submit the application through an electronic form after the training.