by Déborah Coutinho
It’s no news that Portugal is a top choice for foreign investors for the past years. Portuguese government’s initiatives, such as the Golden Visa Program, launched in 2012, and other urban renewal projects have helped to establish Portugal as an attractive destination for foreign companies and investors.
But why is Portugal an excellent option for investment in 2020? What makes this European country a key touristic and investor destination in the old continent? Why would a businessperson move to Portugal with family? The following list brings some insights. Also, you can find investment options in this article that will help to start your 2020 with a new perspective.
1 – Strategic location
Portugal is strategically located at a meeting point between three continents – Europe, Africa, and North America. Therefore, Portugal is central to major international routes. With five hours difference to New York, Lisbon is the nearest European city to the American continent. At the same time, Portugal’s time zone is only three hours away from Moscow time.
If you are a businessperson frequently traveling across the globe attending conferences and meetings, living in Portugal will connect you easily and fast with many destinations.
2 – Exquisite quality of life
From the food to the weather, Portugal is internationally well-known for its high quality of life. It has around 2,500 to 3,200 hours of sunshine a year, an average of 4-6 hours in winter, and 10-12 hours in summer (Min: 8 °C and Max: 25-28 °C), which makes life in this country enjoyable pretty much any time of the year.
The safety of the cities also contributes to Portugal’s high quality of life. Portugal is among the top safest countries in the world. Its biggest cities, Lisbon and Porto, offer entertainment options for all ages that will please your entire family.
3 – Economic prosperity
On an economic side, Portugal provides a more optimistic scenario for investors these days. According to The Organisation for Economic Co-operation and Development report “OECD Economic Surveys Portugal” from 2019, “Economic conditions in Portugal have improved markedly over the past few years. GDP is now back to its pre-crisis level, and the unemployment rate has declined ten percentage points since 2013 to below 7%, one of the largest reductions in any OECD country over the past decade”.
Besides, when compared to other European countries, Portugal offers relatively low costs and most reduced bureaucracy. Both foreign companies and investors are having been profiting from those advantages for the past years and boosting Portugal’s economy.
4- Infrastructure for any business
On an infrastructural side, Portugal is ready. Among the world’s top 10 for the best road network, Portugal offers more than just a well-connected country for vehicles. It also has a vast network of banking and telecommunications services. The capital, Lisbon, has the best fiber optic network in Europe.
Additionally, Portugal has airports close to downtown Porto and Lisbon, modern metro, new hotels, and conference centers that make it easy for investors to move around and do business. At the same time, tourists go exploring the wonders of the country.
5 – Tourism Growth and opportunities
It’s not hard to understand why Portugal is such a cherished touristic destination considering the factors above mentioned. Porto, the second biggest city in the country, was elected The Best European Destination in 2014, 2016, and 2017.
Built by the river, Porto offers a unique contrast between medieval architecture and contemporary life. For the past years, many historical buildings were renovated in the city, expanding the hotel industry and offering more hospitality options to tourists. Many investors benefited from this renovation projects and immigrated to Portugal under the Golden Visa Program.
Not by accident, Porto’s primary source of revenue comes from Tourism and Exportation. Porto is among the top 5 cities that welcome tourists in the EU with an occupancy rate of over 70%. Hence, the real estate business and the hotel industry are one of the most profitable investment opportunities currently available in Portugal, especially in Porto.
6 – Immigration opportunity for the entire family
Investing in Portugal can grant the investors and their families a unique benefit: the Golden Visa. The Portugal Golden Visa Program is one of the simplest and fastest ways for high-net-worth individuals to obtain a residency visa in Europe and eventually gain access to European citizenship. Family members of the investor (spouse, financially dependent children, and financially dependent parents) may also be included in the application and become European citizens.
By investing 350 000 EUR in selected real estate projects, residence permit holders have the right to live in Portugal. They can also enjoy the benefit of traveling visa-free within the 26 nation members of the Schengen zone. Additionally, Golden Visa holders have the right to do business, work, and study in Portugal.
How to invest in Portugal in 2020 and apply for the Golden Visa?
After reading about the benefits of the Golden Visa, you made up your mind and want to live in Portugal with your whole family? Are you a businessperson looking for the perfect immigration solution to enjoy all the benefits of living in the European Union? Are you ready to start your 2020 investing in a new exciting project? If you are, Mercan Group can help you.
Through three decades of experience in immigration, investment, and recruitment consulting, Mercan has built a respectable position in the market. Mercan has the expertise to guide you through your entire application process and is ready to offer you the best investor immigration solutions available.
If you want to live and invest in Portugal in 2020, the best path is to apply for the Portugal Golden Visa program. Currently, Mercan Group offers two real estate investment opportunities in Porto that are eligible for the Golden Visa program: Belas Artes Hotel and Broadway Apart-Hotel.