While the Golden Visa is geared specifically towards non-European passport holders, the Portuguese tax rules relating to those taking up tax residence in Portugal are now much simpler and very competitive, and have attracted more than a thousand applicants in the last few years alone. These are generally high net worth individuals who are happy to spend at lest 183 days in each year in Portugal, or who own a residential property in Portugal with a view to it being a “habitual residence”, and who can arrange their finances in such a way as to take full advantage of the benefits available.
This is proving particularly attractive to French investors. In their home country, taxation is proving too much of a burden for many. Given the opportunity to move to a country where income and pensions are dealt with more gently, many are making the move and buying up properties around Lisbon and the Algarve. After all, is it such a hardship to spend 183 days each year in a country that has wonderful weather, great golf courses, fabulous food and a laid-back lifestyle?
Full details of the fiscal benefits available to foreigners are available from our independent financial advisers – we would be delighted to put you in touch.