As global mobility becomes increasingly attractive, the 2024/2025 Wealthy Expats in Portugal Survey Report by the World Digital Foundation offers an in-depth look into why affluent expatriates are choosing Portugal as their new home. This comprehensive report, based on interviews with over 1,000 existing and prospective wealthy expats, provides a holistic view of the motivating factors, lifestyle preferences, and financial strategies influencing their relocation decisions.

Key Findings of the Report

The report reveals several critical insights:

1. Motivating Factors for Relocation

• Tax Benefits: A significant draw for many affluent expats is the Non-Habitual Residency (NHR) tax scheme, which has provided substantial tax incentives, such as 0% tax on non-Portugal income and a 10% tax on overseas pensions. Despite the NHR tax scheme ending on December 31st, 2023, those who can demonstrate serious intent to reside in Portugal can still benefit from it in 2024. Additionally, the upcoming NHR 2.0 promises a flat 20% tax rate for professionals in high-tech and R&D sectors, among others.

• Lifestyle and Quality of Life: Portugal’s excellent climate, rich culture, and friendly community are highly appealing. Expats appreciate the country's cost of living, safety, healthcare, and overall sense of security.

2. Lifestyle Preferences and Quality of Life

• Family and Friends: Relationships and social connections play a crucial role in the decision to move. The report highlights how expats value the ability to maintain close ties with family and friends, which enhances their quality of life in Portugal.

• Top Expat Locations: Popular regions among expats include Lisbon, Porto, the Algarve, and the Silver Coast, each offering unique attractions and a high standard of living.

3. Property Acquisitions and Investments

• The report provides detailed insights into property trends and investment opportunities. Many expats are investing in real estate, drawn by the stable market and potential for high returns.

4. Tax and Financial Planning

• The complexities of tax and financial planning for affluent expats are thoroughly analysed. The report offers guidance on navigating the fiscal environment in Portugal, ensuring that expats can make informed decisions about their financial futures.

Holistic View of Wealth and Well-being

The World Digital Foundation's research goes beyond financial aspects, incorporating family matters and health considerations. This approach offers a comprehensive understanding of the expatriate experience in Portugal, ensuring that potential and current expats can make well-rounded decisions about their relocation.

Methodology and Standards

Conducted in line with ESOMAR guidelines, this report represents the highest standards of research integrity and accuracy. The World Digital Foundation’s commitment to robust and ethical research practices ensures that the findings are reliable and valuable for readers.

Conclusion

Portugal’s appeal to wealthy expats is multifaceted, encompassing favourable tax conditions, an enviable lifestyle, and a welcoming environment. The 2024/2025 Wealthy Expats in Portugal Survey Report by the World Digital Foundation provides essential insights and guidance for affluent individuals considering making Portugal their new home. As Portugal continues to evolve as a top destination for expats, this report is an invaluable resource for understanding the factors driving this trend and preparing for a successful relocation.

Stay tuned to the World Digital Foundation’s website for more detailed findings and ongoing updates about affluent expatriate trends worldwide.

To access the Wealthy Expats in Portugal Survey Report 2024/25, click here.