Apart from tourism, which has been an important lever for the Portuguese economy, the real estate market has also served as a solid foundation of Portugal’s economy. The Market was able to adapt and open its doors to foreign investors from around the world with very attractive tax benefits.
Foreign Investors from outside the European Union can be covered by the “Golden Visa” program (which in some areas requires an investment of 400 thousand Euros in real estate), that provides free access within the Schengen area with a sole requirement of staying in Portugal for one week a year. Kindly contact us for further Information on the Golden Visa.
Those with the EU citizenship do not need a visa. The Portuguese state has signed agreements with some countries for non-habitual residents where the focus lies on considerable tax benefits.
One of the attractions for foreign investors investors is the fact that Portugal has a robust tourism market, making it possible to transform (with licenses provided by the government AL licenses) Investment properties into local accommodation when not in use. Portugal also offers many professional management companies that can take care of maintaining the properties.
Portugal does not survive only from Tourism and Real Estate, there is industry, i.e., clothing, furniture and bedding factories (most of the biggest towel and bedsheet brands have their factories in Portugal). Portugal also produces Porcelain (table, wall mosaics, flooring), glass, Wines (Porto wine) and is the biggest producer of Cork in the world.