Why Do British People Prefer Portugal?
/The number of completed projects in Portugal is growing every year.
5 reasons why foreigners from the UK prefer Portugal. "According to the Ernst & Young attractiveness study, the UK" more than doubled the number of projects "in Portugal in 2019, from 6 to 15."
According to this study, the UK is the second-largest investor in the Lisbon region in terms of foreign direct investment (FDI) projects. One of the reasons is a large number of British emigrants. In 2019, there were about 35,000 registered residents in Lisbon, Algarve, and Porto. What attracts the British to Portugal?
1. Lower cost of living.
Service prices in Portugal are lower than in the UK. In general, prices for restaurants, groceries, rent, and other basic expenses are 23% lower, according to Numbeo.com.
2. Tax regime.
The Non-Habitual Resident (NHR) Program allows beneficiaries to receive preferential tax treatment for some income for ten years and exemptions for almost all foreign income. Income includes investments, pensions, capital gains, and rental income.
3. No double taxation
The Double Taxation Agreement (DTA) was signed between the UK and Portugal. That is, you do not need to pay tax on the same income in both countries as a foreign citizen.
4. Portugal - is in the top 3 most peaceful countries
Portugal ranks third among the peace-loving countries in the world and second in Europe.
5. Climate
They often move to Portugal, as there are constant sun, beaches, and a mild climate (even in winter). Another plus is that in Portugal there are not so many people living in the country (10.2 million people).
One of the best options for moving is purchasing a Golden Visa. The investor has the opportunity to obtain citizenship after a while, so this option is a good solution for those who are not yet ready to move to Portugal now but want to make an investment in their future.
