Retirees, digital nomads and families are opting for Portugal because they are attracted by the relaxed lifestyle and the widespread use of English. They’re also worried about tax proposals made by the Spanish government.
Some 47,409 British arrived between 2023-24, a rise from 45,265 in 2022.
Mr Sánchez may struggle to pass the measure in parliament as he presides over a minority government.
Lisbon is a top destination for tech startups in Europe (Photo: Getty)Four of these were planning to move to Portugal, not just buy a holiday home.
“The reason was the language, the taxation issue not just at purchase point but if they were renting out the property and the possibility of foreigners not being about to buy something.”
“Portugal feels like a safer bet for longer-term residency. The tax regime has been more predictable, and the remote work digital nomad visa has added to the momentum.
Mr Williams added: “Spain’s regulatory uncertainty has created hesitation while Portugal has doubled down on attracting remote workers, entrepreneurs and startups and in addition to being popular with retirees.”
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“I did a lot of stuff in Spain and the help you got in Portugal for my start up company seemed more than in Spain. Since I have been here, it has turned out to be perfect to have a start up. Lisbon was voted top tech city in Europe by the European Union. Lisbon was voted in the top ten tech hubs by the Financial Times,” he said.
The Type D long-stay visas and Type D7 passive income/retirement visas are the most popular route for Britons moving to Portugal, according to Global Citizen Solutions (GCS), a Lisbon migration consultancy.
Mr Graham said: “People don’t just come because the Portuguese are nice people. Until 2023, Portugal had a very attractive tax regime for new residents. There is no inheritance tax for close family, no wealth tax, competitive rates on investment income and a comparatively low rate of corporate tax (20 per cent).”
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