What is it that makes Portugal such an amazing country for living, and investing?
Portugal is part of the European Union, the Euro Zone and the Schengen area. Thanks to great connections to the rest of the world, Portugal quickly became one of the most exciting hubs for tourists and Investors. With a stable growing economy, stable political and social environment, a secure society, a highly skilled and English fluent labour force and an excellent quality of life, Portugal offers a favourable investment and relocation climate. Portugal is also recognized for having a great educational system and one of the best health systems in the world. The country is investing in becoming a premium tourism and real estate location, as well as one of the leading EU countries for R&D and new technologies. These aspects together with a friendly tax policy structure led PWC to label Portugal as ‘Europe’s best kept secret’. A secret that we are more than happy to share with you.
Three destinations on the Iberian Peninsula come out on top in the Expat City Ranking 2020, with Valencia, Alicante, and Lisbon on the podium. Why Lisbon?
The reasons for Lisbon’s victory can be applied to the whole of Portugal, first of all, the excellent quality of life.
As compared to most of our European neighbours Portugal is cheaper when it comes to all aspects of life like, housing, food, leisure and traveling. Also we enjoy amazing cuisine, weather, some of the best beaches in the world and we are short distance from the major European airports.Local climate, with 300 sunny days a year and a mild temperature on our coldest days this makes Portugal the perfect place to be for work and leisure.
Taking leisure into consideration, Lisbon is a very attractive city as its shown for some time already being center stage for some of the most relevant events taking place for the last years like PGA golf tournaments, Volvo Ocean Race or the horse Longines Global Champions Tour that takes place in Cascais for the 12th year and attracts top riders from all over the world with it’s prize money of 1.4M. Alco Portuguese people are super friendly and welcoming to all foreigners. It’s in our blood to welcome with open arms everyone who chooses to visit us. Most Portuguese speak several languages making it hard for those who wish to learn the Portuguese.
Lisbon is home to one of the most amazing cuisines, serving delicious delicacies made from the freshest fish the Atlantic has to offer. Last but not least – personal safety, there isn’t much to say about this as Portugal is always in the top 5 safest countries in the world. Portuguese people are friendly, peaceful and our healthcare system is one of the best in the world. Most of the foreigners positively assess their financial situation and job satisfaction. Although the prospects for career development vary depending on the industry, here – tourism, financial, technology and medical industries have the advantage, Portugal offers a healthy and dynamically growing labor market in recent years. The assessment of work-life balance is also very positive among expats. Eight-hour work, with a long day – abundant with 9/10 hours of sunshine from April to September, is conducive to social life – going out for a drink with friends, outdoor sports or sunbathing and enjoying the sun until the very sunset. This “weirdness” is probably a question of a language full of oddities that make it difficult to master. Portuguese contains many words that do not have a direct translation into English.
Coming back to taxes, what is this Portuguese phenomenon about? What constitutes a friendly environment for investments and / or purchases for relocation?
In order to meet the needs of expats and foreign investors, the government has developed a number of solutions that remove barriers to relocation and facilitate investment. These include the Golden Visa program and The Non-Habitual Residents (NHR) Tax Regime. Golden Visa enables investors from non-European countries to obtain permission for legal – temporary stay, work or study.Temporary status, can become permanent after 5 years and meeting some additional conditions, ie investment of 500,000 or 350,000 euro plus renovation costs for properties over 30 years old and staying in Portugal for a certain part of each year up to 5 years.
(NHR) Tax Regime, introduced in 2009, offers relief to people who decide to relocate to Portugal, including tax exemption for certain types of income from abroad, or retirement income. There are many more privileges. I am happy to share this knowledge upon request. It is worth noting that even in the age of the virus, Portugal shows a high level of resilience, cohesion and political unity, confirming that it fully deserves to be called one of the best destinations to live or invest. Low interest rates on mortgage loans in 2020 allowed to maintain the dynamics of the real estate market and achieve better results compared to other countries mainly due to the investment activity of local residents, but also Europeans and overseas businessmen. Portugal’s enormous potential has already been noticed by many foreign companies which, in order to be close to the greatest talents that already moved to Portugal, have opened their offices here, offering the best specialists work combined with an excellent quality of life.
Thank you for your time Bernardo.
Our experienced group is on hand to assist with any real estate consultancy. Everyone interested in knowing – where and when to invest in Portugal is invited to a non-binding consultation and review of the Partners International offer in the Value for Money, Premium and DeLuxe segments. VIEW MORE
Bernardo Madeira
Following a successful career in the hospitality and travel industry, I decided it was time to pursue my true passions and start working in Real Estate. First as a successful Investor, then helping others to find their own unique properties. Design and beauty are a major part of my everyday life. From beautiful classic cars, fashion and architecture, I´m always searching for the inner beauty of things. This is how I drive my clients success, by methodically searching for just the right beautiful solution and by remaining committed in finding harmony throughout every negotiation.
With such a diverse experience going from hospitality, Property Investment and Advisory, I understand the value of discipline, resilience and dedication. I believe that trust and transparency are the cornerstones of all relationships and the base for every transaction. Specialized in unique properties, my commitment to my clients Is built on the foundation of a timely and accurate responsiveness, dedication and diligence while respecting each one´s personal needs
Growing up between Lisbon and Cascais, has given me in-depth understanding of all neighborhoods. With a deep beach addiction and a huge passion for art, cinema and discovering new amazing restaurants I proud myself of taking advantage of all the city has to offer.
