Benefits for those under 35: Portugal's strategy to attract young talent

As part of a strategy to attract and retain young talent under 35, the Portuguese government has proposed a series of tax and credit benefits for this age group, including foreign professionals seeking to settle in the country. 

These measures not only facilitate access to housing and reduce the tax burden, but also create a favorable environment for professional and personal development, especially for those seeking financial stability and lower tax burdens in Europe.

Tax breaks on home purchases

One of the main measures is the exemption from Municipal Tax on Onerous Property Transfers (IMT), a tax that is applied to real estate purchase transactions, and which is between 6% and 8% depending on the value of the property.

For young people under 35, this exemption is granted if the property value does not exceed 316,000 euros, while a partial exemption is offered for properties with values ​​between 316,000 and 633,453 euros. 

This reduction in the initial cost of acquiring a home significantly decreases the initial investment needed to purchase a property in the country.

Public guarantee for the purchase of a first home

Portugal has also implemented a state guarantee for first-time homebuyers to facilitate access to mortgage loans. This program allows banks to finance up to 90% of the property value, while the state covers the remaining 10% (potentially up to 15%). 

To access this guarantee, young people must meet certain requirements, such as having annual incomes that do not exceed 81,199 euros, not owning another home, and not having previously received public guarantees from the State. 

This measure is especially relevant for young foreigners who face difficulties accessing property in their home countries, and could position Portugal as an attractive and affordable option for those seeking stability and quality of life in Europe.

An incentive to attract young foreign talent

Portugal has experienced a growing demand for labor in sectors such as technology, engineering and financial services, and the government is aware that attracting qualified professionals is crucial for its economy and social development. 

Furthermore, the quality of life in Portugal, together with these incentives, reinforces the country's attractiveness to those seeking stability and opportunities for professional growth. 

This initiative is part of a broader context in which other countries are also launching similar measures, such as Spain, where policies have been developed to attract digital nomads. 

Portugal, however, seeks to differentiate itself by offering a unique combination of benefits that target not only temporary professionals, but also those seeking more permanent residency.

You too could access these benefits with AIM Global

These tax benefits being implemented by the Portuguese government not only aim to curb the exodus of its young people, but also to create an attractive ecosystem for young foreign talent, consolidating itself as a hub of innovation and development in Europe.

A visa Digital Nomad It could be the perfect way to obtain residency in Portugal and also access these tax exemptions.  

At AIM Global, we have an expert team that can advise you on this investment. With offices in Lisbon, Portugal, our professionals will help you choose a property that suits your needs and meets the legal requirements for this benefit. Whether you're a digital nomad or have another type of visa, AIM Global helps you realize your international mobility plans. Schedule an appointment now. a meeting with us, you will not regret.