Living in Portugal

People from all over the world choose to live in Portugal, taking advantage of its mild climate, safety, and high quality of life.

Located on the Iberian Peninsula, Portugal is one of the most popular destinations for immigrants and expats.

There are many reasons or advantages to living in Portugal. From the best place to live to the cost of living in Portugal, NEWCO has an experienced team ready to answer all your questions about the decision to live in Portugal.

Why live in Portugal?

Before you choose to live in Portugal, it's important to know a little more about the country. 

There's a lot we could share with you, but the essentials are really quite simple.

There are also benefits in the taxation of crypto-assets, the creation of start-ups in Portugal, and the taxation of stock options, as well as specific benefits for those moving to the interior regions of Portugal, including financial support for employability, tax benefits for families and students, and incentives for companies.

Is Portugal a good country to live in?

In addition to what was mentioned above, when you choose to live in Portugal, you choose to live in a quality country, which is still close to everything and everyone, in a stable, safe environment that guarantees health and education.

• Still close to everything
  When you live in Portugal you live in a country with an excellent infrastructure network, including roads and ports. There are several international airports offering daily flights to European, Latin American, and North American capitals. Portugal also has a solid telecommunications network and good internet connection speeds.
   
• Standard of living
  Portugal stands out in the global quality of life indices. If you want to live in Portugal, know that you can count on a safe environment, low crime rates, excellent healthcare and education systems, and stunning natural landscapes that contribute to a high standard of living.
   
• Stable and safe environment
  Portugal is considered one of the safest countries in Europe. Its political stability, low crime rates, and well-developed infrastructure make it an attractive destination for those looking to live in Portugal, in a safe and peaceful environment.
   
• Education and healthcare guaranteed
  The National Health Service (SNS) ensures that healthcare is accessible and easily available to all residents of Portugal. Besides, if you choose to live in Portugal, private healthcare options offer other alternatives. All residents of Portugal also benefit from free access to schooling up to the 12th grade – 18 years old. Various private schools up and down the country offer teaching in English and other languages.

Advantages of setting up a business

Portugal benefits from a thriving business environment and a very competitive tax framework. The standard rate of corporate tax (IRC) is 21%, but there are reduced rates of 14.7% in Madeira or the Azores and even 5% in the Madeira International Business Centre.

Other advantages include:

• Participation exemption for dividends and capital gains;
• Double taxation tax credit;
• Tax benefits on stock options;
• Tax benefits on crypto-assets;
• Among others.

Where is the best place to live in Portugal?

Can you guess the best place to live in Portugal? Portugal is a very diverse country, so there is no right or wrong answer to this question. It depends a lot on your personal circumstances and lifestyle.

In addition to mainland Portugal, the country has two autonomous regions, both archipelagos: the Autonomous Region of Madeira and the Autonomous Region of the Azores.

Choosing where to live in Portugal: north or south, coast or inland?

If you’re considering living in Portugal, know that the Portuguese mainland is characterized by contrasting and diverse landscapes.

Firstly, there is a notable difference between the north and south of the country. Northern Portugal is more mountainous, with more forests and rivers, and in winter it's a little colder (especially in the northern interior). Historically, it has more Celtic, Galician, and Germanic influences.

Conversely, the south of Portugal, especially the Algarve region, is sunnier and drier, less mountainous, and attracts more tourism, being famed for its beaches. In the south, there are more historical influences of Muslim origin.

We can also differentiate between the coast and the interior: cities on the coast are larger, more populous, and have bigger labor markets than their inland counterparts. Most companies are concentrated on the coast. Housing and living costs are more expensive.

The interior of Portugal contains cities that generally have fewer inhabitants, with more limited labor markets, a more peaceful lifestyle, and a lower cost of living.

Portugal has two Autonomous Regions: The Azores and Madeira. Madeira is located in the Atlantic Ocean, about 1,000 kilometers from mainland Portugal. It has a warm climate, a mountainous geography, and is famous for its stunning natural landscapes.

The Azores are an archipelago located in the middle of the Atlantic Ocean, 1,400 kilometers from Lisbon. These islands have a moderate climate that is often rainy and cloudy. Each island in the Azores has unique characteristics and landscapes that are worth visiting.

Cost of living in Portugal

Compared to many Western European countries, living in Portugal offers a relatively affordable cost of living. This difference is more significant outside major population centers, where housing, transport and daily expenses are often more affordable, allowing residents to enjoy a comfortable lifestyle.

The cost of housing varies depending on the region and the type of accommodation. When opting to live in Portugal, know that while urban centers such as Lisbon and Porto have higher housing prices, rural areas and inland towns and cities offer more affordable accommodation options.

Shopping, eating out and leisure activities are reasonably priced, allowing you to enjoy local gastronomy and cultural experiences on a regular basis.