Portugal: The Jewel of Europe for Emigration and Investment

Portugal: La Joya de Europa para Emigrar e Invertir

Portugal is one of the favorite destinations in the world for retirement or digital nomadism. It offers a beautiful country with a rich history and natural beauty, accompanied by exceptional culture and gastronomy, and a warm climate. It is one of the European Union countries with more alternatives for emigration, with a wide range of consular visas. Additionally, it is a highly tourist-friendly and relatively inexpensive country, making it especially attractive for exploring and working remotely, especially with income from other European countries.

Portugal is known as the “gateway to Europe” due to the many facilities it offers to maintain residency and obtain a passport. It has a special tax regime for “non-habitual residents,” which allows individuals to be exempt from certain types of foreign-source income taxation for a period of 10 years.

The Golden Visa program is not unfamiliar to this high convenience, although it is currently undergoing a restructuring process. Until now, the Portuguese Golden Visa program was the only one that allowed its investors to obtain citizenship (European passport) by spending only 7 days per year in Portugal (no more than a vacation). In all other countries, a minimum of 2 years of effective residency was required. For those who wish to obtain citizenship without the Golden Visa, Portugal only requires 5 years of effective residency.

Among the most important benefits of Portugal are:

Stability: Portugal is one of the 3 most peaceful countries in the world and enjoys a low perception of corruption in the public system by its citizens. Additionally, it is the second least vulnerable EU country to the effects of the war in Ukraine, according to the European Economic Forecast.

Economy: The growth in 2021 reached 4.9% and is forecasted to reach 5.4% this year, driven largely by the tourism industry. In terms of business, Portugal ranks 34th out of 190 countries in the Doing Business ranking, and the unemployment rate is at 6.6%, below the EU average.

Climate and Geography: The temperature ranges between 8°C and 29°C throughout the year, with a temperate and subtropical climate in its islands. The southern region, Algarve, stands out for its beaches and warm climate and was chosen as the best European destination for the fourth consecutive year in 2021 (World Travel Awards).

The People: The Portuguese are known for being very welcoming. According to the InterNations website, Portugal is the most hospitable country for immigrants in the world. Additionally, 60% of the population speaks English fluently, and most understand Spanish.

Residency in Portugal allows you to live and work in the country, granting access to Portuguese state benefits, particularly highlighting its healthcare and education systems (7 of its universities are among the best in the world, according to QS World University Rankings). It also allows visa-free travel within the Schengen Area and extends residency to immediate family members.

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