Estate Living Magazine Design for living - Issue 42 June 2019 | Page 66

l i v e
s m a r t
SIX REASONS YOU SHOULD RELOCATE TO
PORTUGAL
SAFETY – the 2018 Global Peace Index rates Portugal
as the fourth-most peaceful country in the world.
According to the US Bureau of Diplomatic Security,
Portugal has a relatively low crime rate overall.
COST OF LIVING – according to Expat Insider, 77% of
expats say their household income is enough or more
than enough to cover their living expenses. Some 51%
of expats believe that the cost of living in Portugal is
generally affordable.
PORTUGAL'S GOLDEN VISA INFRASTRUCTURE – the (WGCI) World’s Global
Launched in 2012, the Golden Visa was the Portuguese government’s
strategy to attract investment, particularly by non-EU citizens, says
Radford. Competitiveness Index puts Portugal as the 18th-most
competitive country in infrastructure in terms of quality
of roads and telephone landlines, and health and primary
education, including infant mortality and primary
education enrolment.
South Africa is among the top five groups of Golden Visa holders,
who have in turn contributed to the overall €3.36 billion investment in
Portugal’s real estate scene since March 2018. PROPERTY INVESTMENT – the PWC Emerging Trends
‘For South African beneficiaries of the Golden Visa regime, there is no
need to obtain a visa to travel anywhere in Europe. They can live and
work in Portugal and even extend residency to their family members,’
Radford says.
Report puts Lisbon as the top overall prospect in
Europe in terms of both investment and development.
For investors, Lisbon comes second in terms of
increasing capital values and rental values, above such
destinations as Madrid, Frankfurt, Dublin and Paris.
EU CITIZENSHIP – South Africans can achieve
Investors must purchase any property type to the value of no less than
€500,000 to participate in the Golden Visa regime. ‘You are free to
occupy or rent the property, but must pay in cash to be eligible for the
Golden Visa. For the remaining amount above the threshold, you can
apply for a mortgage.’
Furthermore, as part of this regime, Portugal has introduced a tax-
friendly jurisdiction – a 20% flat rate for non-habitual residents for
10 years, with an additional surcharge of 3.5% applicable to income
obtained in Portugal. Better still for South Africans, as a result of a treaty
between Portugal and South Africa, there’s no double taxation.
Investors don’t need to relocate permanently. Unlike most EU
countries, where you are required to live permanently to secure
residency, Portugal’s Golden Visa regime grants this status for expats
who spend more than seven days in the first year of residence and 14
days in each subsequent year.
permanent residency after five years and citizenship
after six years, provided they pass a Portuguese
language test. This is major draw for South Africans
to invest in Portugal, as the Portuguese passport is
considered the fourth-most powerful passport on
the planet, according to Henley and Partners’ 2018
Passport Index.
TOURISM – besides offering easy accessibility
to the rest of Europe, Portugal is in itself a major
tourism destination with historic landmarks, culture,
gastronomy, wines, beaches, golf and popular
festivals. Its exceptional tourism assets, from Porto in
the north right down to the sun-kissed Algarve, have
won it the coveted distinction of the World’s Best
Destination as rated by the World Travel Awards.
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