London seminar “Moving to Portugal” is back
The Pestana Chelsea Bridge will host, for the sixth time, the meeting “Moving to Portugal”, on October 31st. The event is held by the Portuguese Chamber of Commerce in the UK and has the support of several players, between property agents, resorts, tax advisors and others.
“Where should one buy a home? Is the Lisbon Airport too crowded… but is the Portuguese capital going to build a second one anytime soon? What about the Faro airport? How can I get a mortgage? What kind of tax rules should I follow? Could I move before I buy?” These and many other questions will be answered at the meeting.
Good reasons to move
Last week we discussed that the number of expats living in Portugal almost doubled in the last couple of years. The “Moving to Portugal” seminar, even if it looks not that relevant, is another brick of this large building. Several factors are contributing to the rising interest in Portugal as a second-home country: the opportunity for real estate investment, the “traditional” combo of climate, tourist potential and welcoming people, and political stability.
Someone pointed out that European politics is upside down, as a centre-right government in Italy is spending more and raising the deficit, while the “left front” coalition government in Portugal is following European orthodoxy very close. Seems odd, but the fact is that, if the ECB continues its current trend, Portugal won’t see a crisis any time soon.
The Non-Habitual Resident program, allowing tax exemptions to foreign living in Portugal under certain conditions (and which we have also discussed here before), is also a strong incentive.
And there’s still another factor.
The only thing sure about Brexit right now is that it is entirely not sure what is going to happen in 2019. Negotiations with the European Union are not following a straight path, which unfortunately is not good news for both parts.
Moving to Portugal right now is not a question of “fleeing”, as surely Britain is not following apart, but it could be a wise move to invest elsewhere. The Portuguese are awaiting to do good business.