Portugal rises up the ranks for millionaires’ Plan B destinations

While some experts suggest only around 20% of high-net-worth individuals (HNWIs) considering uprooting end up taking the plunge, the remaining 80% want a solid Plan B in place.

And, increasingly, their focus is shifting to Portugal.

Chris Marson is head of private wealth at Portugal Pathways, which supports clients with their life and investments in Portugal.

He explains: “A Plan B is about holding options. Clients secure residency and organise tax planning now and decide on relocation when they are ready.

“Think of it more as risk management rather than opportunity seeking.

“Tax is the most cited driver, but not the only one. A recent survey of billionaire clients put quality of life, geopolitics and tax efficiency as equally appealing.”

Millionaires from the UK are leading the exodus. Statistics from New World Wealth suggest 16,500 left its shores in 2025. And with them went US$92 billion of wealth.

The UK government’s changes to its non-dom tax regime are cited as the primary trigger.

But the trend is being reflected globally – with the impact of disruption in the Middle East earlier this year likely to only swell the numbers.

New World Wealth says 142,000 millionaires worldwide relocated in 2025.

For those seeking to establish a Plan B, the focus is on safe and secure nations – preferably with a low commitment to securing residency. 

Portugal’s residency-by-investment Golden Visa programme – open to eligible non-EU, non-EEA and non-Swiss nationals who make a qualifying investment into alternative investment funds under Portuguese legislation – is proving particularly attractive.

It requires just seven days’ presence in the first year, then 14 days every two years, while giving the whole family EU and Schengen residence rights. 

The fund route requires €500,000 in approved funds or €250,000 for a cultural investment. Neither requires buying property.

On tax, Portugal’s IFICI (Tax Incentive Scheme for Scientific Research and Innovation) regime offers a 20% flat rate for ten years on qualifying activity.

Adds Chris Marson: “Portugal sits seventh on the 2025 net inflow list, ahead of Greece, Canada and Australia, with about 1,400 net millionaire arrivals carrying roughly US$8.1billion of wealth.

“In addition, we’ve seen Lisbon enter the top 50 cities for millionaires for the first time – reinforcing Portugal’s momentum.

“HNWIs want to plan ahead for all eventualities, and Portugal ticks an awful lot of boxes in terms of the benefits and the ease of setting up that all-important Plan B option.”

To find out more about life and investment in Portugal, arrange a free discovery call with Portugal Pathways.

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About Portugal Pathways

‍‍Portugal Pathways has supported hundreds of Golden Visa residency-by-investment applications and provides expert guidance through its professional supply chain network on estate planning, wealth management, Golden Visa and tax optimisation, including post-NHR / IFICI tax regime planning, as well as private healthcare, money transfers and bespoke relocation and luxury real estate solutions to enhance life and investment in Portugal

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Disclaimer: The information on the Portugal Pathways and Portugal Investment Owners Club (PIO Club for short) websites and in email communications is for general informational purposes only and should not be construed as legal, tax, or financial advice. You should consult and check with a qualified professional advisor before relying on any information provided on this website or in email communications. As it relates to investments in Golden Visas or other wealth management solutions offered by regulated and professional advisors, it is important to note that past performance is no guarantee of future returns. Private equities can be highly illiquid and come with risk and should always be under professional independent advice. Golden Visa investments need to be held for 6 to 7 years to allow for permanent citizenship/passport in the EU.

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