Portugal: the best destination for a fresh start
Portugal has always been known as the ideal destination to retire. However, Portugal is not only that, but also the most attractive destination for millennials who are initiating their lives and careers. The truth is, Portugal is one of the best choices to simply start regardless of how old you are.
Since the pandemic, the way we live, and work has been completely transformed. People all over the world are moving and changing careers based on what fulfils them most.
There is a wave of expats, digital nomads, entrepreneurs, and retirees settling in Portugal in search of a better life. One of its reasons is the quality-of-life Portugal has to offer, such as, amazing lifestyle and weather, great security, and hospitality.
Portugal offers not only a natural beauty, but also culture. Foreigner’s citizens do not struggle to adjust, they just feel as if they´re home. It certainly helps that most of the Portuguese population speaks perfectly English and are welcoming to expats.
In fact, the number of abroad citizens living in Portugal is at an all-time high, making up about 7% of the population in 2021, according to the Portuguese Immigration and Borders Service (SEF).
Portugal is becoming increasingly known for its start-up scene, mostly concentrated in Lisbon. Funding to tech start-ups headquartered in the country grew to over €180 million in 2021, up from about €1.2 million in 2016, according to the 2021 Portugal Start-up Outlook. According to the report, 1/3 of founders who established start-ups in Portugal the previous years were foreigner citizens.
Finally, it is important to highlight that moving to Portugal is relatively easy and is followed by many other benefits like acquiring a European Passport after only 5 years of legal residency and tax benefits for up to 10 years.
The most common visa for someone intending to start a new life in Portugal is the D7 Visa/Residence Permit, which is the ideal option for who wish to live in Portugal and can show evidence of having a net regular income (not necessarily passive income) that is deemed sufficient to support his/her family aggregate in Portugal.
The D7 does not preclude the holder from having a professional activity in Portugal and, provided the applicant has sufficient income, it is generally the best option for someone who intends to live in this country.
If you are looking for a fresh start as well, we can provide full bureaucratic and legal assistance with your Portuguese residence permit. For further information, please contact us.
Manuella Sena
Immigration Consultant
