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The Portuguese government founded the non-habitual resident’s tax regime in 2009 to increase the country’s international competitiveness by attracting investors and skilled workers. This tax system grants tax incentives to expatriates who reside in Portugal for a minimum of 10 years. It was designed to attract residents with high value-added potential, such as pensioners or skilled employees.

The government introduced the Portugal Golden Visa in 2012 as an overseas investor programme. The so-called “Golden Visa” was granted with an investment in Portugal of over €500,000 or the creation of 10 jobs. By 2021 it was credited with the investment of 5.2 billion euros from non-EU citizens. In February 2021, the parliament approved changes to the legislation, which will be implemented from January 2022. It is essential to understand these changes if you are considering an investment in Portugal from outside the EU.