Portugal: The World's #1 Retirement Heaven
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WORLD’S #1 RETIREMENT HAVEN
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Portugal Facts And Figures

Facts About Portugal iStock/Tuangtong There are many interesting facts about Portugal. This country is one of the oldest in Europe, once part of the Umayyad Caliphate dynasty and the Roman empire. The official language of Portugal, Portuguese, is known as a “romance language.” In 2010, Portugal legalized same-sex marriage, becoming only the 8th country to […]


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Facts About Portugal

Pushpin marking on Lisbon, Portugal map. portugal facts
iStock/Tuangtong

There are many interesting facts about Portugal. This country is one of the oldest in Europe, once part of the Umayyad Caliphate dynasty and the Roman empire.

The official language of Portugal, Portuguese, is known as a “romance language.”

In 2010, Portugal legalized same-sex marriage, becoming only the 8th country to do so at the time.

Also, the country’s official name is the Portuguese Republic.

Kathleen Peddicord

Reviewed By Kathleen Peddicord

Kathleen is the Live and Invest Overseas Founding Publisher. She has more than 30 years of hands-on experience traveling, living, and buying property around the world.

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Sept. 17-19, 2025
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There are many interesting facts about Portugal. This country is one of the oldest in Europe, once part of the Umayyad Caliphate dynasty and the Roman empire.

The official language of Portugal, Portuguese, is known as a “romance language.”

In 2010, Portugal legalized same-sex marriage, becoming only the 8th country to do so at the time.

Also, the country’s official name is the Portuguese Republic.

 
Information Type Portugal Data
Population 10,223,349 people (Jan. 2024)
Gross Domestic Product PPP (GDP) US$362.3 billion (Jan. 2024)
GDP Per Capita US$22,414 (Jan.  2024)
Inflation Rate 2.9% (2024)
Currency Euro (EUR)
Exchange Rate Versus U.S. Dollar 0.92 euro per U.S. dollar (Jan. 2024)
Language Portuguese (official), Mirandese (official, but locally used).
Capital Lisbon
Population of Capital City 3,015,000
(metropolitan area)
Time Zone GMT
Seasons Mediterranean: hot, dry summers; wet, cool winters
International Dialing Code 351
Electricity 230V / 50 Hz, Plug Type: C, F
System of Government Republic, Parliamentary Democracy
Current Leader President Marcelo Rebelo de Sousa
Income Tax Rate for Residents Residents in Portugal are taxed on their worldwide income at progressive rates varying from 13.25% to 48% (2024).

Nonresidents are taxed at a flat rate of 25% on their taxable remuneration (2024).

Property Tax 0.3% to 0.5% of the total real estate value for urban properties. For rural properties, it's 0.8%.
Capital Gains Tax 28%
Inheritance Tax None
Rental Income Tax 28%
Transfer Tax 6.5%
Sales Tax 23%
Restrictions On Foreign
Ownership Of Property
None
Local Chamber of Commerce Rua das Portas de Santo Antão 89
Lisbon
1150 266
Portugal
Tel: 351-21-190-36-50
American Chamber of Commerce Lisboa – Sao Jorge de Arrolos Rua D. Estefanis 155
1000-154 Lisboa
Tel. 351-213-572-561
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, base metals, machinery, and tools.
Residency and Visa Requirements Tourist Visa: Automatic 90 days upon entry.

Residency: Portugal changed the rules of its golden visa program (eliminating real estate from the list of qualifying investment classes).

Another Portugal fact is that the legislation stipulates the minimum working wage (around 485 euros per month currently) for the principal visa holder, 50% of that value for a spouse, and 30% per child.

For instance, these requirements can be reduced if the applicant can prove he already has lodging paid for or guaranteed.

Citizenship: After six years of continuous residency.

Special Benefits for Foreign Residents or Retirees Recent legislation allows resident foreign retirees to receive pension and foreign income in the country tax-free for 10 years if they qualify for the NHR status.

Most importantly, the law also provides for reduced taxation on wages, intellectual property, interest, dividends, and capital gains.

On the other hand, tax rates are relatively high and the tax-free status for NHR residents is not indefinite but for 10 years.

National Airline TAP Portugal
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Kathleen Peddicord

Reviewed By Kathleen Peddicord

Kathleen is the Live and Invest Overseas Founding Publisher. She has more than 30 years of hands-on experience traveling, living, and buying property around the world.

Where To Retire At Any Age - And Guarentee Yourself A Richer Liefstyle
Cover for Kathleen Peddicord's book At Home Abroad
Plus, Revealed Inside Your Free Book: 12 Top Places Where You Can Live The Good Life From As Little As $1000 A Month…
Revealed Inside Your Free Book:
THE SECRET THAT WILL SAVE YOUR FINANCIAL FUTURE
FREE BOOK COWBOY MILLONAIRE THE NEW AMERICAN PIONEER
spain-conference-logo

Experience The World’s #1 Retirement Haven

Sept. 17-19, 2025
Valencia, Spain

Start Your New Overseas Life Today

A world full of fun, adventure, and profit awaits! Sign up for our free daily e-letter, Overseas Opportunity Letter, and we’ll send you a FREE report on the 10 Best Places To Retire In Style Overseas Today 2025

We Value Your Privacy! We will not share your email address with anyone else, period.

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Portugal Facts And Figures- FAQs

Starting from August 1, 2024, Portugal waived the Real Estate Transfer Tax (IMT) and Stamp Duty for property purchases if the buyer is under 35 and is buying their first permanent home.

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