Portugal has long been a favoured destination for expats and investors, and the latest Wealthy Expats in Portugal Survey Report 2025 reaffirms its standing as a top choice for global relocation.
The independent report, conducted by World Digital Foundation Research, offers an in-depth examination of the motivations, experiences, and financial strategies of affluent expats who have made Portugal their home. The Wealthy Expats in Portugal Survey Report 2025 explores key aspects such as quality of life, taxation, property market trends, and investment opportunities, solidifying Portugal’s reputation as a premier destination for wealth migration.
Strong Appeal of Portugal’s Property Market and Tax
One of the most notable findings from the report is that 91% of respondents view Portugal’s real estate market as highly appealing, while 83% cite its advantageous tax and investment environment as a major draw. Additionally, 88% express a high degree of satisfaction with their relocation, surpassing the global average of 72%.
These statistics highlight that beyond its financial advantages, Portugal continues to attract high-net-worth individuals and families with its exceptional lifestyle and relatively low cost of living.
Evolving Tax Landscape and Financial Planning Considerations
Portugal’s tax regime underwent a significant transformation in 2025, with the end of the widely used Non-Habitual Residency (NHR) tax regime to new applicants at the end of 2024. In its place, the government introduced the Tax Incentive for Scientific Research and Innovation (IFICI), also known as the NHR 2.0 tax regime, designed to attract highly skilled professionals in key industries.
The IFICI (NHR 2.0) tax regime offers a 20% flat tax rate for professionals in fields such as science, technology, healthcare, and engineering. It also maintains a 0% tax rate on non-Portuguese sourced dividends and capital gains, reinforcing Portugal’s status as a prime location for wealth preservation and tax-efficient investment.
Despite these changes, the report reveals that only 29% of wealthy expats in Portugal have developed long-term tax and financial plans beyond the initial 10-year NHR period. This underscores the need for strategic estate and wealth management planning, making professional financial guidance increasingly essential.
Portugal’s Property Market Remains a Key Attraction
Despite the discontinuation of the property purchases for Golden Visa residency by investment eligibility, Portugal’s real estate sector continues to thrive. High-net-worth individuals remain drawn to luxury apartments in Lisbon, villas in the Algarve, and historic properties in Porto.
Alternative investment routes, such as CMVM-regulated investment funds, provide an avenue for Golden Visa residency by investment. These funds not only allow investors to gain access to Portugal and the wider Schengen region but also help diversify their portfolios, contributing to the market’s continued resilience.
Beyond financial incentives, Portugal’s quality of life remains a decisive factor. The country’s Mediterranean climate, cultural heritage, safety, and affordability are highly valued by expats, with 81% rating Portugal’s overall quality of life as exceptional. The welcoming and friendly communities further enhance its desirability as a relocation destination.
Exclusive Opportunities for Portugal Investment Owners Club Members
For investors and expats seeking exclusive advantages, the Portugal Investment Owners Club (P Club) offers unique, premium experiences. Membership provides access to high-level networking, exclusive investment opportunities, private events, and luxury lifestyle experiences.
As Portugal’s investment landscape continues to evolve, the P Club serves as a valuable platform for those navigating these changes. Whether securing prime real estate, connecting with top financial and legal professionals, or enjoying bespoke travel and leisure, members benefit from an unmatched level of expertise and exclusivity.
Portugal’s Investment Future Remains Bright
Portugal’s global reputation as a premier destination for expats and investors remains strong. With a sought-after luxury property market, tax-efficient investment options, and an outstanding quality of life, the country continues to attract high-net-worth individuals worldwide.
The research indicates that Portugal’s Golden Visa residency-by-investment programme is thriving. According to the Portugal Pathways Golden Visa Investment Fund Index 2025, more than 40 CMVM-regulated investment funds are currently available. These span various sectors, including media, tourism, hospitality, renewable energy, technology, and healthcare—key industries driving Portugal’s A+ economic rating.
Furthermore, Portugal is projected to outperform the Eurozone and the UK in GDP growth for 2025. Inflation in the first quarter of the year has decreased from 3.0% to 2.5%, in contrast to rising inflation in North America, Europe, and the UK.
Paul Sheedy, special advisor to the Portugal Future Fund—an alternative investment fund approved for Golden Visa residency by investment—commented:
“We’ve seen an uptick in investors turning their interests to Portugal. The Golden Visa residency-by-investment programme continues to attract HNWIs looking to relocate to Portugal while also potentially benefitting from a €500,000 investment in one or more of the regulated and approved alternative investment funds for Golden Visa.
“Portugal offers not only stability but a high quality of life, low cost of living, and the opportunity to benefit from and contribute to the country’s economic growth.”
Download the Wealthy Expats in Portugal Survey Report 2025 here
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 luxury property, wealth management, and tax optimisation, including post-NHR tax regime planning, as well as private healthcare, IFICI tax incentive applications, money transfers and bespoke relocation solutions to enhance life and investments in Portugal.
About Portugal Future Fund
The Portugal Future Fund strategically invests in key sectors, driving growth and innovation across Portugal. Approved for Portugal’s Golden Visa residency-by-investment, it offers a unique opportunity for impactful and rewarding participation.
About Portugal Investment Owners Club
The Portugal Investment Owners Club, or P Club for short, is a unique investor membership community designed for discerning individuals, families, and organisations committed to exploring and capitalising on life in Portugal and enjoying money-can't-buy experiences and exclusive events.
Disclaimer: The information on the Portugal Pathways and Portugal Investment Owners Club (P 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.
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