Portugal will still give you a coveted golden visa – but it’ll cost you €500k

Thousands of British expats used Portugal’s property scheme to get citizenship and tax advantages for themselves and their families. But the scheme, which required investors to buy €500,000 (£428,450) worth of real estate, has now been axed after fears it was driving up property prices and doing little to help the locals. Yet the Portuguese government is still happy to hand out the coveted golden visas to those willing to invest elsewhere in the country. It comes as there has been a stampede in the UK to snap up European passports since Brexit, with people wanting to live, work, study and move unhindered around the Schengen zone. The surge has continued, with 3,200 applications in 2023 – double from the previous year. Now 2024 looks like another bumper year globally due to ongoing instability and an unprecedented number of landmark elections. The Plan B passport has never looked more enticing. Portugal is still one of the most popular destinations as it comes with a high quality of life, low crime rate, rich history, great food and beautiful beaches and countryside. Expats who move to Portugal also receive a flat tax of 10pc on pensions from a foreign source, as well as a...

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