PortugalVillagePlenty 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
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