OFFSHORE INVESTING IS OBVIOUS BUT WHY PORTUGAL?
There are a lot of nice things about life in Portugal: I call it The Warm Heart of Europe. The people are friendly & welcoming, the weather is great, the beaches are beautiful and the interiors are easy to navigate and full of wonderful history, ancient architecture and beautiful landscapes. Portugal also offers a very rich history and many exploratory endeavors which are pretty spectacular… You will also find that the average man on the street has an impressive knowledge of Portuguese history.
FOOD & WINE
The food is excellent - coffee is great and available at under 1 euro a cup (bargain!). The Portuguese are produce a variety if delicious wines in the Douro, Tejo, Lisbon and Alentejo regions (to name a few) and are famous for their Port Wine. Some of the greatest port houses are found in the historic and beautiful city of Porto…where the name of the wine originates from!
SAFETY
Portugal is also considered 4th Safest Country in the World – according to the Global Safety Index and the UN. It is politically stable and governed on good economic fundamentals, Portugal used to be one of the poorest countries in Europe and whilst no country is perfect Life here has improved immeasurably over the last decade. The Portuguese describe themselves as pessoas pacificas peaceful people. There are also strong connection to Angola, Mozambique and Brazil which adds to its diversity and rich culture - which also stems from many other influences including Celtic, Lusitanian, Phoenician, Germanic, Visigoth, Viking, Sephardic Jewish, and Moorish. Which further signifies that ALL are welcome and there’s something for everyone.
INFRASTRUCTURE
The basic infrastructure in all main cities are sound and very reliable. The train service is reliable and safe – connecting you to all major cities in Portugal. Uber, Bolt and Kapten are available and if you have more time, hop on a local bus or tram - which are often dominated by tourists - but the trams are a great way to get across town quickly and a lot of locals depend on them. In Lisbon, the metro connects you across town if you want to avoid the traffic. The ferry service takes you along and across the Tejo river and it only takes 10 minutes to get to the other side! There are two massive bridges that carry you across the river out of Lisbon and quickly down to the coast or into the countryside.
TOURISM
In 2017 it was The World’s Leading Travel Destination according to the World Travel Awards and The Huffington Post. Lisbon, in particular, has become one of the hottest destinations to visit Porto, and the Algarve, following hotly on, with no signs of slowing down – tourism increased by 40% 2013 - 2017. Portugal sits on the edge of Europe, until recently in relative obscurity, But it holds a unique geographical position. It’s halfway between South Africa and Europe, Portugal sits on the edge of Europe, until recently in relative obscurity. It is also only 7 hrs from New York, 3 hrs from most European cities including london and it’s the Closest European country to North Africa. All of which makes it a uniquely positioned hub.
TECH
Apart from the bustling tourists in the streets, there has also been a lot of moving and shaking in the corporate world with both Google and Amazon Web Services – opened up offices near Lisbon last year last year– creating several hundred jobs. Portugal has experienced a technological renaissance. In 2016 The Web Summit (the largest tech event in the world ) moved from Dublin to Lisbon which boosted a Startup Ecosystem, created more jobs and and as a result Portugal has become a mecca for entrepreneurship and innovation and now Ranks 22nd on the Technology Index
THE ECONOMY AND TAX
PWC says Portugal’s economy is growing at a healthy clip. Lisbon is now an International destination for companies investors and tourists. Portugal is the best kept tax secret; With a stable political and social environment, a secure society, a highly skilled and English fluent labour force and an excellent quality of life, Portugal offers a favorable investment climate. The country is investing in becoming premium tourism and real estate location, as well as one of the leading EU countries for Research & Development and new technologies.
WHY PORTUGAL SHOULD BE YOUR NEXT TAX CHOICE…
Portugal provides an excellent quality of life for the modern investor or businessman. The tax regime for individuals is very attractive, surpassing other regimes in many ways. The low effective tax burden, further enhanced by the regime for non habitual residents, the free remittance of funds, the friendly residence permit regime (allowing for free movement within the Schengen zone) and the possibility to apply for Portuguese nationality and, consequently, a EU passport, make Portugal a very attractive location. As a result of its traditional liberalism and multicultural approach, Portugal maintains very close links with the rest of the world, including Africa, Asia and South America.
ONGOING STRENGTH OF THE PROPERTY MARKET
There’s been a rise in prices but properties that sell for 30,000 per sqm in London are still selling for a third of that in Lisbon. If you know where to look you can still find places close to the centre - making the property market very buoyant.
