Live and Invest in Portugal

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PortugalVillage

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 Algrave, 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.

 

Photo Gallery

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Portugal at a Glance

Population 10,676,910 (July 2007)
Gross Domestic Product (GDP) $232 billion (2007)
GDP Per Capita $21,800 (2007)
Inflation Rate 2.4% (2007)
Currency Euro (EUR)
Exchange Rate Versus U.S. Dollar 0.637 euros per 1 U.S. dollar (April 2008)
Language Portuguese (official), Mirandese (official)
Capital Lisbon
Population of Capital City 564,477 (2007)
Time Zone GMT
Seasons Meditteranean: hot, dry summers; wet, cool winters
International Dialing Code 351
Electricity 230V / 50 Hz; Plug Type: C, F
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
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
Preferred Contact

 

Map

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Live and Invest Overseas is the world's savviest source for top opportunities to live better, retire in style, invest for profit, do business, and own real estate overseas. Established in 2008, the Live and Invest Overseas' editors and correspondents have more experience researching and reporting on top opportunities for living well, investing for profit, doing business, and owning real estate around the world than anyone else you'll find.