Perhaps contrary to expectations and despite the restrictions imposed by Brexit and after the end of the transition period, British nationals are continuing to invest in Portugal.
The rate of this investment is arguably higher than in 2020, when many sought to establish a residency solution prior to the end of the transition period.
Whilst many British citizens with holiday homes in Portugal seek a solution by which they can travel freely to and from Portugal, Portugal is continuing to provide an attractive lifestyle choice for investors and high net worth individuals, including business owners and consultants. Whilst a residency solution is now necessary, normally in form of a Golden Visa or D7 visa, UK nationals remain undeterred and are activity continuing to invest in Portugal via, for example, the Non-Habitual Residency programmme.
The NHR programme is now much better known globally and, in addition to a number of other incentive programmes, has been styled to attract international talent, high net worth, know-how and investment to Portugal through a series of tax incentives, much in the same way that investment/capital hubs such as Singapore and Switzerland have done.
As the good news about the higher-than-expected growth in Portugal in the first quarter of 2021 emerges, partly driven by tourism, Portugal continues to headline for the right reasons. Despite the fact that the Portuguese investment programmes have been a bit of a victim of their own success, and have been effectively replicated by countries such as Spain, Italy and Greece, the numbers of new international investors, including British NHRs augur well for the future of Portugal’s evolving international reputation.
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