As a member of the European Union since 1986, Portugal stands out as a modern nation that beautifully balances contemporary living with its unique charm and rich heritage.
This small country, home to approximately 11 million residents, boasts a fascinating history that has shaped its culture and identity over the centuries.
Portugal’s attractive investment climate and appealing property market offer excellent opportunities for those looking to invest in the country.
Let's find out the factors that contribute to why investing in Portugal is a wise choice for both investors and expatriates seeking to make a home in this captivating destination!
Why Invest in Portugal?
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Portugal offers significant tax advantages for foreign investors, making it an increasingly appealing destination for those looking to relocate or invest.
One of the standout features is the Non-Habitual Resident (NHR) program, which provides a generous ten-year tax exemption on global income.
This program is designed to attract skilled professionals, retirees, and investors from abroad, allowing them to benefit from Portugal's favorable tax regime while enjoying the country's rich culture and lifestyle.
In addition to the NHR program, Portugal's absence of wealth tax and inheritance tax further enhances its allure as an investment haven.
This creates a favorable environment for foreign investors seeking asset protection, as it allows individuals to preserve their wealth without the burden of additional taxation.
The combination of the NHR program and the absence of wealth and inheritance taxes not only fosters financial growth but also encourages long-term residency, allowing investors to enjoy a high quality of life without substantial tax liabilities.
Portugal, a sun-kissed paradise with pristine beaches and world-class vineyards, offers an unparalleled quality of life.
Its warm-hearted locals, laid-back vibe, and delectable cuisine create an enchanting atmosphere.
Recognized as a top ten destination for expats, Portugal's allure is undeniable, making it the perfect place to call home.
According to Internations, Portugal has consistently ranked among the top ten countries for expats, which further highlights its appeal as a place to live and work.
The welcoming community, coupled with a lower cost of living compared to many other Western European nations, enhances the overall experience for expatriates.
Portugal continues to be a sought-after destination for those looking to enjoy a fulfilling lifestyle in a beautiful setting.
With a growing number of people traveling to Portugal, the country’s tourism industry is experiencing a remarkable boom. This surge in tourism is driving an increased demand for short-term rentals.
As a result, investing in property in popular areas of Portugal can provide a steady stream of income from vacationers seeking comfortable accommodations.
In addition to short-term rentals, the rise of remote work has led many individuals to seek long-term rentals in Portugal.
Due to the increased demand in rentals, the rental yield has been increasing positively too. For example, a two-bedroom apartment in Lisbon's city center could cost between €300,000 and €350,000.
In 2024, such a property might rent for €1,400 to €1,500 per month, offering an attractive gross yield of 5% to 6%.
This potential for high returns, combined with the allure of the Portuguese lifestyle, makes property investment in this beautiful country an enticing opportunity for both domestic and international investors.
If you think Portugal has a high cost of living, it might be time to update your perspective. In reality, the cost of living in Portugal is generally quite low compared to many other countries, even in its major cities.
According to the Property Guides Cost of Living Overseas Index for 2024, a typical shopping basket of everyday items in Portugal costs up to 26% less than in the UK.
For instance, in Portugal, a medium cappuccino at a local independent coffee shop typically costs between £1 and £1.50. In contrast, you would pay approximately 260% more for the same coffee in the UK!
This notable difference underscores the affordability of essential goods in Portugal, making it a compelling choice for those considering relocation or investment.
When evaluating prices in 12 other countries, including Spain, France, and the UK, Portugal ranked as the third most affordable place to live in 2024.
This ranking reinforces Portugal as a viable location for long-term living, where individuals can enjoy a comfortable lifestyle without incurring excessive expenses.
Infrastructure fund was pouring in, connecting the north to the south, and east to the west.
Highways were being built; the airport was increasing its capacity. So, the connectivity was improving within the country.
Connectivity was increasing within and outside the country. With the airports that increased the capacity, for example, low-cost airlines were changing the travel within Europe.
Portugal is leading the arena of producing sustainable energy production. It meets about 30% of gross final energy demand in 2019, mainly hydropower and wind generation.
For one month, Portugal has enough energy to sustain the whole country.
Everybody knows by now that Portugal is a beautiful country. You have over 900 km of stunning coastline; you have excellent island-like Madeira, which came out as the Top 1 island in the world.
You have an olive oil plantation and scenic vineyard protected by UNESCO as World Heritage. Beautiful rivers and mountains.
With Portugal's attractive property market, supportive government initiatives, and growing tourism sector, the country offers a compelling case for both seasoned investors and newcomers alike.
As Portugal continues to evolve and thrive, now is the perfect time to seize the opportunity to invest in this captivating country and be part of its promising future!
Contributed by,
Desmond Ang
Founder and Managing Director of Global Migration, Desmond has established a migration agency based on his enthusiasm for helping people migrate to their dream destination. He specialises in Business migration and Investment migration for Australia, New Zealand and Portugal for the past 16 years.
Desmond is also a member of ACCA, CA, CIA, and IMC and was trained as a Chartered Accountant with PWC and International listed companies as a Regional Internal Auditor before venturing into the migration industry.
His success has gained him one of the Top 25 Migration Agency CEO globally by Uglobal magazine.
To Find Out More
Website: globalmigrationsolutions.com
Email: enquiry@globalmigrationsolutions.com
+6010 229 2114 (mobile/WhatsApp)
Portugal isn't the only country worthy of investments and immigration, explore your very next real estate investment destination with us today!
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