Plenty of Lifestyle Choices In A Small Package
Centuries ago, Portugal was at the forefront of international exploration. On the other side, until recently, this country was not the destination for many visitors. Portugal remained largely undiscovered until mid-1990s, when an influx of visitors started to take advantage of its beautiful landscapes, historical architecture and charming handicrafts.
Despite its small size—225 km wide and 612 km long—Portugal rewards the visitor at every step; you'll see almond trees in the African-looking Algarve, fields of golden wheat in Alentejo, ranches in Ribatejo, ox-driven carts across Minho, and vineyards in Douro. In the same time, the country offers sandy beaches, art treasures, a tasty cuisine, a unique architectural style (Manueline), a mild climate, and friendly and hospitable people.
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| Population | 10,781,459 (July 2012) |
| Gross Domestic Product (GDP) | $241.9 billion (2010) |
| GDP Per Capita | $23,200 (2011 est.) |
| Inflation Rate | 3.2% (2011 est.) |
| Currency | Euro (EUR) |
| Exchange Rate Versus U.S. Dollar | 0.7107 euros per 1 U.S. dollar (2011 est.) |
| Language | Portuguese (official), Mirandese (official) |
| Capital | Lisbon |
| Population of Capital City | 2.808 million |
| Time Zone | GMT |
| Seasons | Meditteranean: hot, dry summers; wet, cool winters |
| International Dialing Code | 351 |
| Electricity | 230V / 50 Hz; Plug Type: C, F |
| System of Government | Parliamentary Republic |
| Name and Party Affiliation of Current Leader |
Anibal Cavaco Silva, Social Democratic Party |
| Income Tax Rate for Residents | 10.5 - 40% |
| Property Tax | 0.07 - 2% |
| Capital Gains Tax | Residents: 0 - 40% Non-residents: 25% |
| Inheritance Tax | 0% - close relatives; 10% stamp duty - distant/non relatives |
| Rental Income Tax | 15% |
| Transfer Tax | 5% - non-urban; 6.5% - urban, and 10% if the purchase is located in a listed low-tax jurisdiction. |
| Sales Tax | 21% |
| Restrictions on Foreign Ownership of Property |
None |
| Local Chamber of Commerce | www.port-chambers.com Rua das Portas de Santo Antao 89 - 1169-022 Lisboa Tel. (351) 213-224-050 Fax (351) 213-224-051 |
| American Chamber of Commerce | www.amchamportugal.org |
| Primary Exports | Agricultural products, food products, oil products, chemical products, plastics and rubber, skins and leather, wood and cork, wood pulp and paper, textile materials, clothing, footwear, minerals, base metals, machinery and tools, vehicles, and optical and precision products |
| Residency and Visa Requirements | Tourist Visa: automatic 90 days upon entry Residency: Residence Permit allows 5 years of residency; automatically renewed for up to 10 years Citizenship: After 6 years of continuous residency |
| Special Benefits for Foreign Residents or Retirees | None |
| National Airline | TAP Portugal www.flytap.com |
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