A European Union member for 36 years, Portugal is a modern-day country with its unique charm. It is historical; as a foreigner, Portugal has a vast history behind it for such a small country with an 11 million population.
Infrastructure and connectivity
Infrastructure fund was pouring in, connecting the north to the south, and east to the west. Highways were being built; the airport was increasing its capacity. So the connectivity was improving within the country.
Connectivity was increasing within and outside the country. With the airports that increased the capacity, for example, low-cost airlines were changing the travel within Europe.
Europe’s best-kept secret for investment and tourism
Portugal is the most undiscovered country in western Europe. Pwc has called Portugal Europe’s best-kept secret.
There is no doubt that Portugal is trending as a tourism country today. Portugal has been elected for the third time as the best tourist destination in the world. It has fantastic restaurants with talented chefs and fabulous boutique hotels around the country—lots of exciting products and brands emerging from every part of Portugal.
Industries – sustainable energy production
Portugal is leading the arena of producing sustainable energy production. It meets about 30% of gross final energy demand in 2019, mainly hydropower and wind generation. For one month, Portugal has enough energy to sustain the whole country.
Everybody knows by now that Portugal is a beautiful country. You have over 900 km of stunning coastline; you have excellent island-like Madeira, which came out as the Top #1 island in the world. You have an olive oil plantation and scenic vineyard protected by UNESCO as World Heritage. Beautiful rivers and mountains.
Portugal is getting recognized for some other factors. Quality of lifestyle, over the years, the country has attracted American, British, Brazilian, French and Asians who make Portugal their second home.
Talking about the lifestyle, connectivity plays an essential factor. Lisbon airport, For example, takes you 7 to 9 away from America and the Middle East. It is 1.5 to 2 hours ways from the UK. That gives you an idea of how strategic Portugal is.
Talking about the lifestyle is also about the convenience. We have late-night shopping, Sunday shopping, ease of access to quality services, to be valued, lifestyle is also about living in suitable weather. Not too hot, not too cold, a lot of sunshine, clean air. Not to be underestimated, lifestyle is about access to nature, quality foods, and living in a safe and secure environment. Portugal ranked highly in all these points.
It is an excellent place for education. Portugal university produced many engineers, IT graduates, architecture, and scientists. They are needed by many international companies that are thinking of moving to Portugal now. The Program attracts international students to Portugal for the Master’s Program taught in English at these top universities, the quality of education and the lifestyle I referred to earlier.
Since the web summit, the world largest announced Lisbon as the host city in 2016 for the next 10 years. This has helped Portugal receive a lot of attention and is recognized as the silicon valley of Europe. This growth is going to continue.
Investment Initiatives and Incentives
The Portugal government has also introduced some administrative to simplify some procedures and processes to remove some red tape regarding the venture capital and private equity company, one to set up the business in Portugal.
Yes, the government has also introduced a series of investment initiatives and incentives over the years. Examples are the Portugal Golden Visa, the Startup Visas, tax incentives kept at 20% flat, and a government co-investment scheme for startups. These incentives have undoubtedly brought financial and human capital via foreign investors and immigrants. Billion dollars have flown into the country.
I like to touch upon an emotional reason I have observed and gathered from those who moved over. Portugal ranked 3rd on the global peace index after Iceland and New Zealand. Portuguese people are welcoming and show foreigners warmth and hospitality, which is why the hospitality industry is doing well.
They are family-centric because they love, care and support their children, as reflected in society. People are respectful in Portugal of the elderly. People look after their parents and grandparents. They value their advice. They spend time with them.
Portugal is the most open, tolerant and liberal society. People here welcome people from different countries of religion, beliefs and colour. This is worth a lot in this generation.
Founder and Managing Director of Global Migration, Desmond has established a migration agency based on his enthusiasm for helping people migrate to their dream destination. He specialises in Business migration and Investment migration for Australia, New Zealand and Portugal for the past 16 years.
Desmond is also a member of ACCA, CA, CIA, and IMC and was trained as a Chartered Accountant with PWC and International listed companies as a Regional Internal Auditor before venturing into the migration industry.
His success has gained him one of the Top 25 Migration Agency CEO globally by Uglobal magazine.
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