Portugal is now moving forward from the easy week-long getaway and idyllic retirement setting and is gradually becoming the global relocation hub for young professionals. Aside from the beautiful architecture and consistent subtropical climate, the city of Lisbon provides affordable living costs and a vibrant nightlife.
If you’re considering moving abroad to Portugal, it’s important to undergo extensive research. This will help you see if the way of life will suit both yourself and relocating employees. This week, our global relocation experts have shared some vital information you need to know.
One of the major appeals of moving abroad to Portugal is the generous tax break that could be offered to you. The NHR (non-habitual resident) scheme provides new residents attractive tax benefits for the first 10 years of residency. You could be offered these benefits if:
- You have not been a tax resident in Portugal within the last 5 years
- Be classed as a Portuguese resident. This means to spend more than 182 days a year in the country.
- Register as a non-habitual resident with the tax authorities.
It’s also important to note that if you’re intending to stay in Portugal for longer than 183 days, you can then become tax eligible.
Visas and documentation
when coming from outside of the EU, i.e. the USA, Australia or Canada, you can stay for up to 90 days without a visa. If you’re only planning to live there for a year, then it is recommended to apply for a temporary residence permit.
If you’re moving abroad to Portugal from an EU country, then you do not need a visa. However, if you’re planning on becoming a resident, you are required to apply for a residency document.
Another major attraction of Portugal is the living costs. You can expect to pay pretty much half of what you would pay living in the UK, US or Australia. For example, monthly transportation passes cost around €35 and a pint of beer roughly costs €1.50.
Do you still have some questions about moving to Portugal? Why not get in touch with the friendly team at Galleon International, global relocation experts? Give us a call on 01708 868 068 today.
A recent survey was undertaken by CBI (The Confederation of British Industry). The survey revealed that an increasing number of UK companies are creating back up plans with regard to jobs and production to move overseas due to uncertainty surrounding Brexit. But what does this mean for the UK in the long term?
With 56% of businesses that were surveyed preparing to adjust supply chains abroad. “Unless a withdrawal agreement is locked down by December”, jobs will be lost. This will have a knock-on effect on the UK economy.
During an interview, Nicky Morgan, a Conservative MP who chairs the Commons Treasury Committee, said: “tremendous damage” is being caused to banks and other large financial services in London due to the current negotiation stand-off.
Increase in demand for relocation services
Naturally, an increase in businesses looking to move overseas means there will be an increase in demand for relocation services. As a business owner, you need to ensure that you have an effective relocation strategy in place. Galleon International are experts in international removals. Our team listen to your every need and tailor our service to suit you. We believe a personal service is essential to keep your employees and their families happy. After operating for almost 40 years, we have gained access to all the local knowledge you need to know to ensure you’re ready to start your new life.
Are you planning to move overseas just in case things don’t go as smoothly as planned?
At Galleon International, corporate relocation services, we have a team of experienced global mobility experts. Our team will create and tailor completely bespoke programmes to suit your corporate relocation needs. To find out more information on how Galleon International can help your business when relocating employees, give us a call today on 01708 868 068.