Real estate the assets of Portugal

Young professionals and retirees no longer hesitate to move to Portugal. The country has been kind to them in terms of taxation.

The French have become the champions of Lusitanian real estate. At 1er quarter of 2016, according to Home in Portugal, 25 % of the housing purchased by foreigners in Portugal were acquired by French people in the first quarter of 2016. There is no shortage of motivations. A secure living environment and a temperate climate just 2 hours by plane from Paris or major French cities, a lower standard of living than in France and property prices that are much more attractive than in France....

According to the Barnes network, prices vary globally between 1,800 €/m² to 5,100 €/m depending on the type of property, its location and its condition, knowing that exceptional properties can be close to 10 000 €/m². In Lisbon, old buildings to be renovated range from €1,500 to €2,000 per square meter," says Geoffroy Moreno, a renovation specialist. After renovation, high-end residences are offered for sale at between €4,600/m² and €8,000/m².

Cherry on the pastéis de nataSince 1 January 2010, theer On January 1, 2013, under pressure from the European troika, which asked for greater liberalization of its markets following the 2011 financial crisis, Portugal implemented a lighter tax system to attract foreign investors: the "golden visa" for non-EU foreigners and the non-habitual resident regime for European nationals, which allows them to be exempt from income tax for 10 years.

As a result, from France, the country sees an influx of mainly retired people or couples in their thirties who are expatriates. Qo create their own business. In total, about 25,000 French people have succumbed to the sweetness of life in Lisbon in recent years.

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Any departure must be prepared in advance to avoid administrative and tax pitfalls. For example, it is important to remember that only private sector pensions are tax-exempt, not those from a public sector career. Similarly, rental income from a property located in France will be taxed in France. To benefit from Portuguese tax benefitsIn order to be eligible for the tax credit, a person must have his or her main residence in Portugal and live there for more than 183 days per year. "The tax authorities can check whether the center of economic interests of the persons is located in Portugal. Portugal" .