Millionaires Moving to Portugal


Staff member
May 18, 2022
Portugal boasts of a variety of attraction sites for both entrepreneurs and tourists.

Portugal’s attraction sites are a wonder to behold. The country has over eight hundred kilometers of breathtaking Atlantic Ocean coastline, rich cultures, beautiful weather, and excellent cuisine.

Portugal has been ranked as the third safest country to live in. It has a low crime rate that guarantees its citizens and aspiring citizens of safety. It’s no wonder to see so many millionaires moving to Portugal and setting up business there.

As the oldest country in Europe, Portugal is rich in history. Many explorers and expeditions come from Portugal. The government has had the same borders since 1139, and its national language, Portuguese, is spoken as the official language in 9 countries and by over two hundred million people worldwide.

Country of Vasco da Gama has a spirit of ingenuity.

Portugal is responsible for some world-famous inventions. These inventions primarily involved the advancements in equipment and techniques of ocean navigation and coastal cartography. These devices include the mariner's astrolabe and the chart of latitudes. They are also responsible for military applications such as building cannons and making new types of swords, such as the Carracks black sword.

Crypto millionaires are taking advantage of the government’s tax policy on capital gains, while celebrities are discovering a safe haven for their livelihood.

Foreign residents make up 5.4 % of Portugal's total population. This statistic was 3.7 % in 2011. Nationals from third countries constitute 81.4 % of all foreign citizens in Portugal. Metro areas like Lisbon and Algarve show the highest percentage of foreign reside

Statistical Analysis of Rich Immigrants over the last few years, Portugal has had an increased number of immigrants. The 2021 census carried out in Portugal confirms that there was a 40 % increase in the number of immigrants between 2011 to 2021.

The Credit Suisse Research Institute published a report stating that the number of immigrant millionaires in Portugal is estimated to increase by 49 % by 2024. This will place Portugal at the top of the list of countries with the highest relative growth rate and second place as the world’s most favored destination for wealthy travelers. From the study in 2020, we can see that the 1 % found in Portugal make up 20.1 % of the country’s total wealth.