More and more individuals, but also retirees, are choosing to go into exile in Portugal to spend happy days there. If several great French fortunes have taken up residence there, retirees also decide to settle there at the end of their professional careers. Between tax advantages and a relaxed lifestyle, how did this destination become so popular?
According to American economist Paul Krugman, winner of the Nobel Prize in 2008, it is a “kind of economic miracle”, as revealed by our colleagues at France Info. Indeed, while Portugal was going through an impressive crisis around ten years ago, the country recovered thanks to a thriving economy and a growth rate estimated at 2.2% in 2023. It must be said that the country looks like a tax haven for individuals who wish to emigrate. Retirees have understood this well since they can benefit from a non-habitual resident status (RNH), which allows them to be exempt from taxes for ten years, provided they live at least half of the year in the country.
Many personalities have also decided to go into exile in Portugal to take advantage of its advantageous tax system. Florent Pagny, Isabelle Adjani, Philippe Starck and even the heirs of Claude François have therefore set their sights on this warm country, rich in exemptions. Workers whose profession is eligible for RNH status such as higher intellectual professions, artists or even engineers are also fond of Portugal. Remember that, for non-European individuals wishing to invest in Portugal, a “Golden Visa”, a renewable five-year residence permit, was available until 2023 for the purchase of real estate worth at least less than 250,000 euros or the creation of a business.