Data from the Institute of Registries and Notaries (IRN) shows over 84,000 applications, highlighting the nation’s continued appeal. With its exceptional quality of life, favourable tax incentives, healthcare, and a thriving luxury real estate market, Portugal was ranked the number one relocation destination in 2024 by International Living and the Wealthy Expats Report . This recognition reaffirms Portugal as a hub for both lifestyle enhancement and investment opportunities.
The Wealthy Expats Report also highlights the appeal of the Non-Habitual Residency (NHR) tax regime, to affluent families in Portugal. Many of the expats interviewed expressed their satisfaction with the favourable tax benefits. Experts in the report suggest that current NHR tax holders can continue to thrive in Portugal by engaging in early, strategic tax planning before the regime's 10-year expiration.
This proactive approach would help mitigate future tax burdens and allow them to maintain their financial advantages in Portugal. The start of 2024 also saw robust activity in the Golden Visa residency by investment program, attracting those seeking a European foothold. Paul Stannard, Chairman of Portugal Pathways, which assists wealthy families and professionals relocating to Portugal, comments on this growing trend: “Portugal remains a magnet for entrepreneurs, skilled professionals, and those seeking an enhanced lifestyle.
The combination of safety, a low cost of living, luxury real estate, and a f.