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Fantasporto International Film Festival 2024 – Dates, Tickets, and More!

Are you planning to visit Portugal at the beginning of March? If so, you are probably looking for local events to add to your to-do list, right?! We’re here to recommend the Fantasporto International Film Festival in Porto from March 1 to 10.

Keep reading to discover more about the festival’s history and its schedule for the 2024 edition. You’ll also learn about tickets, the festival’s location, and a few tips on what to pack to avoid any unpleasant weather-related surprises in Porto!

Fantasporto International Film Festival – History

The first Fantasporto International Film Festival took place in 1981. It was founded by Mário Dorminsky and Beatriz Pacheco Pereira.

It focuses on promoting experimental, auteur, and commercial films within the fantasy, science-fiction, and horror genres. The submissions are collected from all over the world. Therefore, makes both local and foreign productions known to people residing in Portugal or visiting the country.

The Fantasporto International Film Festival is organized annually, welcoming more than 100,000 attendees every year. This film festival has more than 20 awards, the highest prize being Grande Premio Fantasporto. It was first awarded in 1982 to The Redeemer, a movie created by Krsto Papić, a director from Yugoslavia.

The Redeemer is a 1976 horror film that focuses on a newly discovered intelligent rat species that can take the form of humans. Before winning the Fantasporto award, The Redeemer was awarded as the best film at two other festivals in Trieste and Paris.

Since then, Grande Premio Fantasporto has been offered to movies from various countries, including Canada, France, the United Kingdom, Spain, Hong Kong, the United States, Belgium, Sweden, Australia, South Korea, Poland, and others.

Porto Film Festival – Dates

This year, the Fantasporto International Film Festival will take place between the 1st and the 9th of March at Batalha Centro de Cinema on Praça da Batalha 47, 4000-101 Porto, Portugal. It is located close to Igreja Paroquial de Santo Ildefonso.

On the 1st of March, at 9 pm, there will be an Opening Session displaying Testament (Parece que Estou a Mais) – a film directed by a prominent Canadian director, Denys Arcand, that focuses on the changing nature of the world viewed through the eyes of Monsieur Bouchard. That same night, you can watch Post Mortem.

It is directed by Péter Bergendy and tells the story of a former WWI soldier. He is now a photographer who captures family photos with the dead – which was, in fact, a real “tradition” in Victorian England. His story is intertwined with that of the Spanish Flu.

Later that night, at 23:15, you can watch Baby Assassins 2: Babies, a Japanese movie directed by Yugo Sakamoto. Baby Assassins (the first part) was also shown at the Fantasporto International Film and widely recognized for its plot.

In short, we’re trying to highlight that if you’re a fantasy/horror enthusiast, a cinematic connoisseur, or simply enjoy watching any kind of movie, your schedule will be quite busy from the 1st to the 9th of March! The festival has more than 50 productions scheduled for this year’s journey, and we’re sure your new favorite is among them! You can check the film descriptions, the schedule, and the ticket information here.

Cinema. Photo by Geoffrey Moffett (Unsplash)

Fantasporto International Film Festival – Tickets

An individual ticket for each movie costs 5 EUR. People with reduced mobility have to pay only 3.75 EUR. There are also discounts for those who have a Cartão Porto, as well as for students, unemployed cinema fans, and people aged 65 or more.

If you know you’ll attend multiple movies, you can choose an unlimited ticket, which costs 60 EUR. You’ll have to go to the Batalha on the day a particular movie is scheduled for and take your ticket.

To obtain this free pass, you’ll have to complete a form with your name, postal code, profession, e-mail, phone number, tax identification number, date, and signature. You’ll also have to include a bank transfer confirmation of 60 EUR. Once you have the documents ready, send them to [email protected].

You’ll be able to obtain your physical free pass card from the 29th of February onward, on the second floor of the Batalha Centro de Cinema. For more details, please visit the official Fantasporto website.

Fantasporto International Film Festival – Categories

The movies displayed at the Fantasporto International Film Festival are so diverse that we’re sure you’ll find at least one that suits your cinematic preferences (if you enjoy the genre, of course).

The festival will show both short and long films. They are categorized as follows (some movies are part of several categories, but these can still help you find a movie that interests you the most):

  • Fantastic Film Official Section – Shorts. It will include shorts by Tony Morales, Jerôme Pierrat, Lucas Paulino, and others. (Tip: If you’re a Casa de Papel fan and liked Manila’s character, make sure to check out Ahora vuelvo with Belen Cuesta).
  • Official Section Fantastic Film Features. It includes movies directed by Yugo Sakamoto, Isti Madarász, Fabián Forte, and others. 
  • Secção Oficial Semana do Realizadores. It includes movies directed by Adilkhan Yerzhanov, Jin-Ho Hur, David Duchovny, Ate de Jong, and others.
  • Orient Express Official Section. It includes movies directed by Kazuaki I Kiriya, King Palisoc, Takeo Kikuchi, and others.
  • Official Section Portuguese Film. It includes movies directed by Nuno Manuel Pereira, Vasco Viana, João Bruno, Luís Miranda, and others.
  • Portuguese Film School. It includes movies directed by Silvana Torricella, Luís Miguel Rocha, Diogo Bento, and others.
  • Retrospective – Focus Kazakhstan. It includes movies directed by Rustem Abdrashev, Aka Satayev, and Adilkhan Yezhanov.
  • Retrospective – Karim Ouelhaj. It is dedicated fully to Karim Ouelhaj, a Belgian author, director, and producer whose films won multiple awards.  
  • Retrospective – Manga to Live Image. It includes movies directed by Hiroaki Matsuyama, Shunsaku Kawake, Tsutomu Hanabusa, and Hideki Takeuchi.
  • Retrospective – Visions of Hungarian Cinema. It includes movies directed by Lajos Koltai, Lili Horvát, Károly Mészáros, and others.
  • Fantas Classic. It includes the movie Cockfighter directed by Monte Hellman and released in 1974. 
  • Filmes Fora de Competição. It includes movies directed by Rui Neto, Jorge Albuquerque, Pedro Gil Vasconcelos, and Tiago Pimentel.

In short, you’ll have the opportunity to (re)discover the work of dozens of directors, producers, and actors!

Cinema. Photo by Daniele Levis Pelusi (Unsplash)

Fantasporto International Film Festival – Languages

This is probably the most important detail about this festival – will people who don’t speak Portuguese be able to attend it? Yes and no. The thing is – it depends on the original movie language.

The festival’s official website says that the movies displayed in Hall 1 will be subtitled in Portuguese. This means that you can watch them as long as you understand the original language. Most of the movies displayed in Hall 2 will have Portuguese subtitles as well, although some will have English subtitles.

Considering that the festival has selected movies from all over the world, there will be a remarkable linguistic diversity. As such, you’ll have to skim through the schedule and select the movies that suit your linguistic knowledge/preferences.

Porto Weather in March

If you’re planning to visit Porto in March (and have your best cinematic experience of the year!), you’re probably wondering if the weather is nice. After all, you’ll have a whole day to explore the city or its surroundings before heading to Batalha Centro de Cinema for the Fantasporto International Film Festival.

Well, we’ve got good news! Porto is quite warm in March! The mean daily temperature is 12.6 degrees Celsius (54.7 degrees Fahrenheit), although it can get as high as 18–20 degrees Celsius (64.4–68 degrees Fahrenheit).

Nonetheless, we strongly recommend packing some warm clothes, particularly a scarf and a hat, as well as an umbrella or a raincoat. Although it’s not the rainiest month of the year, March still has a lot of precipitation. It may be sunny now and start raining the next minute. In short, visiting Portugal in March equals taking measures to avoid any weather-related risks!

Two Years in the System – My Experience with Private Health Care in Portugal

My Story

I am a US expat who moved to Lisbon in December 2020 and, due to the pandemic, didn’t sign up for private health care until April 2022. I have an unusual story because I moved to Japan right after university and started using their national healthcare system as part of my working visa there. I have never been part of a healthcare plan as a working adult in the United States and have only paid for healthcare out of pocket in the United States when I visit my family.  

The Healthcare System in Portugal

Portugal has both a free public health care system and paid private health care options. When you first move to Portugal, you need to sign up for the public health care system by getting a numero de utente from your local freguesia (district office). This can, in theory, be done by walking into the frequesia office with your passport and receiving the numero de utente on the same day.

I received mine in only about 15 minutes, and they also emailed the number to me. I was told that I would eventually get a family doctor assigned to me within the public system, although I was told even then, in the middle of the pandemic, that this could take a while. I never heard back nor did I try to go back to my local office, as I knew that I would be signing up for private health insurance.

I have heard that it can take months or even years to get a public doctor assigned, but I’m sure that if you follow up frequently with your local office, you may get quicker results. I have also heard that there can be very long waiting times if you go into a public hospital, especially if it’s not an emergency.

If you do have a genuine emergency, however, you will often end up in a public hospital, even if you are in the private health care system. This will depend, of course, on your location when an emergency occurs. Another surprising thing about public vs. private is that the doctors in the public system in Portugal are supposedly better than the private hospitals. People tell me that a public hospital is where you want to be if something truly serious happens, but private is better for more minor issues and faster care.

If you’ve been following the healthcare situation in Portugal over the last few years, and Portugal is certainly not alone in this, the public healthcare system is seriously underfunded and many doctors trained in Portugal are also moving abroad to be paid higher wages. Many rural districts in Portugal no longer have any family doctors and doctors have been going on strike demanding higher pay for the long, arduous hours that they must juggle in a system with more and more patients on their plate. 

Catia Martins, a family doctor in Porto, reported in the Euronews that wages have “not actualized for 10 years and because of that we are one of the worst-paid doctors in Europe.” In the same article, it was reported that 1.6 million people are currently without a family doctor and ten strike days were planned in 2023 to protest the current working conditions.

I experienced the ramifications of this situation directly in a private hospital as I was sitting with my doctor. After taking an urgent phone call with a patient, she looked at me and said, “That’s another public healthcare patient that has just moved over to the private system. Many of them are switching. I have so many patients. People are looking for a place where they can get quicker care or care period.”

Photo by Jeshoots, Unsplash

Private Healthcare Options in Portugal

I signed up for Medis, one of the top main private healthcare insurance providers in Portugal, through a healthcare broker. My broker provided me with options for both Medis and Advancecare. I will provide you with the prices from 2022 below to give you an idea of how coverage generally works. The price went up for Medis by 10%, therefore keep in mind these are examples to help illustrate the types of insurance and expected prices. 

Medis

Medis’ options 1 and 2 are lifetime coverage when subscribed up to 54 years of age. Option 3 is lifetime coverage when subscribed up to 64 years of age.

Copayments

For any of the options above:

  • Hospitalization: 10% of the bill with a maximum copay of €500. For example, a €16,000 surgery will only cost you €500, the rest of the expense comes out of the annual allowance.
  • Birth: €250
  • Doctors appointment: €17 for any type of doctor, whether a family doctor or a specialist doctor within the company network. For example, if the overall cost of a doctor’s appointment is €60, you pay €17, and the rest of the expense comes out of the annual allowance. However, if the doctor’s appointment is outside the network, you pay fully out of your pocket but get a refund of 35%.
  • Emergency room visit: €40 copay
  • Medical exams: Blood test €1.50, Pathology Anatomy €7.50, X-Ray €7.50, Sound Scan €12.50, Nuclear Medicine 10%, CAT Scan €27.50, Magnetic Resonance Imaging €65

Grace Periods

  • 60 days – Outpatient Assistance, Dental and Prosthetic Devices and Orthosis
  • 90 days – Hospitalization
  • 180 days – Serious Illness Cover; Surgical or other invasive treatment of benign prostatic hypertrophy, benign uterus condition
  • 365 days – Birth

AdvanceCare

All options offer lifetime coverage when subscribed up to 55 years of age. When Subscribed after 56 and up to 65, coverage ends at 75 years of age.

Copayments

For any of the options above:

  • Hospitalization: 10% of the bill with a maximum copay of €500. For Example, a €16,000 surgery will only cost you €500, the rest of the expense comes out of the annual allowance.
  • Birth: €250
  • Doctors appointment: 15€ for any type of doctor, whether a family doctor or a specialist doctor within the company network. If the overall cost of a doctor’s appointment is €60, you pay 15€, the rest of the expense comes out of the annual allowance). If a doctor’s appointment is outside the network, you pay fully out of your pocket but get a refund of 50% up to a maximum of 35€.
  • Emergency room visit: €37.50 
  • Medical exams: Blood test €2.50, Pathology Anatomy €7.50, X-Ray €7.50, Sound Scan €15, CAT Scan €25, Magnetic Resonance Imaging €50

Grace Periods

  • 60 days – Outpatient Assistance, Dental and Prosthetic Devices and Orthosis
  • 90 days – Hospitalization
  • 180 days – Serious Illness Cover; Surgical or other invasive treatment of benign prostatic hypertrophy, benign uterus condition, cystocele and rectocele
  • 365 days – Birth

What Did I Choose?

I ended up going for Option 3 with Medis at the cost of €87 per month (in 2022). As you can see from the grace periods, signing up for private health care will not give you immediate coverage. You will need to pay, for example, for two months of payments before you can even be covered for outpatient services. In fact, you will not get coverage for childbirth until a full year later. This is standard no matter what health care plan you sign up for. If you are interested in using private health care, I therefore encourage you to sign up as soon so you can start the clock on being able to get coverage.

It is also important to note that private insurance premiums are also going up every year. My 2023 costs for the same plan increased by 10%. I currently pay 95 euros per month, and I expect this to go up again in April, especially with the increasing stress placed on the private systems due to the ongoing issues in the public system.

I shouldn’t finish this section without mentioning an insurance company called Multicare, the third option in Portugal. When I was registering for my first surgery in Portugal (more on that below), I was told that Multicare has been the most responsive and professional as of late among the different private health insurance companies in Portugal. Multicare is often offered as an option through your bank or also through private brokers. Check it out for a possibly even better option.

Photo by Pina Messina, Unsplash

My Experience with Medis

Full disclosure, I am now 41-year-old female with no major history of chronic conditions. I go to one of the CUF private hospitals in Lisbon and occasionally go to Hospital da Luz, one of the hospitals that is considered the best in the country. These are the only private hospitals that I am currently familiar with, and I have been very happy with their services.

For the majority of my medical appointments with CUF, I have had to wait for around 15-45 minutes to see the doctor despite having a pre-arranged appointment, but the doctors always apologize for my wait and give me as much time as I need. My general appointments cost a €17 copay and I had one trip to the emergency room that included a CT scan with contrast and blood being drawn which cost me a grand total of €40.

The most I’ve ever been charged at one time for a general procedure was around €70 which included X-rays and an MRI. Every doctor that I’ve seen has been thorough and caring, but like every trip to the hospital, and this is true in any country, it is important to advocate for your own care.

Getting Surgery in Portugal

I experienced this when a tumor was found in one of my ovaries after my doctor ordered a pelvic MRI. My male doctor told me that he wouldn’t be able to remove the tumor without also removing my ovary. I scheduled a surgery and waited for it with some anxiety and trepidation.

However, a visit to the emergency room the week before my surgery (due to persistent pain on my left side) revealed endometriosis near my intestine. I mentioned this to the doctor the day before my surgery and he decided to postpone my surgery and try to add an endometriosis specialist to the team. By sheer luck, this new doctor turned out to be the main doctor on the team and ultimately removed my tumor without needing to remove my ovary. 

I mention all of this to say that it doesn’t hurt to get a second opinion when preparing for medical procedures. You never know what options may appear when you ask about the possibilities.

My surgery cost me €500 out of pocket and I have nothing but good things to say about my procedure. I spent one night in the hospital and received the least invasive option for my condition. The entire experience made me so grateful for having private healthcare in Portugal and the fact that I was already signed up when a tumor was discovered.

Final Thoughts

If you are reading this and considering getting private healthcare in Portugal, I would urge you to go for it. The fact that it is a fixed monthly price regardless of your salary is quite remarkable and it is comforting to know that you have quicker access to healthcare on a daily basis if something goes wrong. The private hospitals also use mobile apps such as myCUF or MY LUZ to help you easily book appointments, view exam results, and even pay invoices directly online. These apps even offer regular tips for a healthy lifestyle. You will also get calls and texts from the hospital to confirm your appointments and English has always been available when I really needed it.    

Spain vs Portugal: Which Golden Visa Program is Best?

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There has been a lot of talk of Golden Visa schemes over the last few years. Each scheme has different rules and varying levels of benefits. Moreover, changes to these schemes have recently been a plenty. When research is done into the best EU programs the names of Portugal and Spain will inevitably top that list, but which scheme is better? 

Let’s start by explaining what a Golden Visa actually is. Essentially a Golden Visa is a residency by investment program that grants investors and their families the opportunity to live, work, and reside in a country in exchange for a qualifying investment. 

Book a Call with a Golden Visa Specialist

Golden Visas: Main Differences Between Spain and Portugal

Portugal introduced the Golden Visa back in 2012 and has seen over 12,000 applications approved and rapidly became the ‘go-to’ choice for people looking for the best route to EU residency.

A huge draw for people looking at this option is the quick route to citizenship. The Portugal Golden Visa scheme allows applicants to change their residency to a passport in year six. Furthermore, the minimum stay requirements to do this are only five weeks in those five years. Applicants of this program started seeing passports being issued in 2018, confirming their pathway to citizenship and an EU passport.

Spain’s Golden Visa program, on the other hand, started in 2013 with over 9,000 applications approved. Spain has a longer path to citizenship. For the majority of applicants for a Golden Visa, the passport is a 10-year wait.

However, there is an exception to this rule, and for those who qualify, there is a route to citizenship in as little as two years. These applicants are current holders of ex-Spanish colony passports. 

There are many countries that make this list: Argentina, Brazil, Bolivia, Chile, Colombia, Costa Rica, Cuba, Dominican Republic, Ecuador, Equatorial Guinea, El Salvador, Guatemala, Honduras, Mexico, Nicaragua, Panama, Peru, Philippines, Uruguay, and Venezuela.

It is important to note that to convert to citizenship in Spain, an applicant of an ex-Spanish colony would need to spend over six months of the year in the country during that qualifying period. Nevertheless, the Spanish passport is currently ranked the 2nd strongest in the world, compared to Portugal’s 4th

For those not looking to convert to a passport, the process is far simpler. Spain has no minimum stay requirements so simply by holding a qualifying asset, you will receive all the benefits of being a resident without the need to stay in the country.

The cost of living for both countries varies considerably depending on where you decide to settle. A very popular draw for Portugal was always the immensely popular NHR (Non-Habitual Residency) scheme.

However, this scheme was withdrawn last year and only people who qualify under the Grandfathering rules can still apply. There is a new tax regime being introduced in 2024, imaginatively being dubbed NHR 2.0. This regime is more restrictive on who can qualify but still provides some great benefits for those who do.

Golden Visa Investment Routes

So, what are the best investment options for these two countries? Well, currently both would require a minimum investment of 500k EUR (excluding donation options).

Portugal Golden Visa

Portugal removed Real Estate as an option in 2023, and so qualifying investments for Portugal are now as follows: 

  1. Business – Job Creation – 500,000 EUR for a new or existing Portugal company maintaining a minimum number of jobs.
  2. Donation – Art and Culture – 250,000 EUR for support of an artistic production or in the maintenance of national cultural heritage, arts or culture in Portugal.
  3. Venture Capital and Investment Funds – 500,000 EUR to invest into an investment fund or venture capital fund incorporated under Portuguese law. 
  4. Scientific Research – 500,000 EUR for research activities of public or private entities that are part of the National Scientific and Technological Research.

Those looking to invest in Portugal need to look for security for their capital, essentially low-risk, asset-backed, and regulated investments only. It is also important to ensure that there are no tie-ins or fees. Funds can include entry, management, performance, or exit fees that can be detrimental to the investment itself. Keeping in mind fixed-rate returns and guaranteed exit amounts to eliminate risk is also crucial. This can also bring down the investment amount initially required for the Golden Visa. 

Digital Nomad Guide to Lisbon, Portugal
Cascais, Portugal. Photo by Calin Stan (Unsplash)

Spain Golden Visa

Spain, on the other hand, still has the option of Real Estate to qualify, although how long this will remain an option is unclear. Murmurings by the opposition party to the government have already voiced their concern about this because of the effect on the housing market. The current qualifying investments for Spain are as follows:

  1. Real Estate – A total of 500,000 EUR invested into Real Estate. This can include Residential and Commercial options. It can also be made up of more than 1 property.
  2. Equity in a Business – 1,000,000 EUR invested into a business. There is a set of criteria for what would qualify under this option.
  3. Bank Deposit/Investment Fund – 1,000,000 EUR invested into a deposit account or a qualifying investment fund.
  4. Government Bonds – 2,000,000 EUR invested into Government Bonds.

It is no surprise to tell you that real estate remains by far the most popular option for this Golden Visa program. Particular care needs to be taken in Spain regarding the taxation of real estate investments.

Commercial options often make more ‘financial sense’ as a qualifying asset due to attracting far less tax. In fact, on a qualifying real estate investment, transfer tax alone on a commercial asset will be over 40,000 EUR less than a residential option.

Madrid, Spain. Photo by Jorge Fernández Salas (Unsplash)

Final Thoughts

It is clear that both Portugal and Spain have great options for people looking to qualify for the Golden Visa. For most people, it will simply come down to where they want to live. Depending on your individual situation, the best option would vary.

Whichever one feels best for you, you must ensure that appropriate research is carried out. The Golden Visa schemes are ‘residency by investment’ programs, and you need to ensure that the ’investment’ part of that is your main focus.

Book a Call with a Golden Visa Specialist

The Sweetest Adventure at Óbidos Chocolate Festival

In the central region of Portugal lies a historically rich town called Obidos. It is adorned with traditional houses that beautifully decorate the cobbled streets – all surrounded by the castle wall stretching for 1,565 meters. In short, if you ever reach Obidos, you’ll explore an authentic Portuguese city that will take your breath away with its charm!

If you’ve visited Portugal before, you probably already know about Ginja de Obidos, the famous cherry liqueur served in a chocolate cup. Even if it’s sold in other cities as well, tasting it in the source town is definitely an experience one must not miss out on! Well, what if we told you that you can now combine tasting authentic Ginja de Obidos with the most varied chocolate products at the Obidos Chocolate Festival?

This year, the Óbidos International Chocolate Festival is taking place from March 1 to 17. Keep reading to learn more about the festival’s history, this year’s program, and ticket information! We’ve also included a chocolaty bonus at the end!

The Obidos Chocolate Festival

The first edition of the Obidos Chocolate Festival was held in 2002. As such, it is already a 22-year tradition for the city! The 2022 Obidos Chocolate Festival is particularly famous, as it marked 20 years since its first edition!

The Obidos Chocolate Festival is usually held in spring. Each year, the festival has a different theme which the chocolate sculptures and exhibitions are based on. For about a week, locals and tourists have the sweetest time of their lives tasting unique chocolate products and chocolate-based recipes.

In 2024, the Obidos Chocolate Festival will be held from the 1st until the 17th of March, so if you were thinking of visiting Portugal next month (which is an excellent choice, by the way, as it’s not very crowded yet and the weather is pleasant), keep in mind the dates of the festival! You won’t regret it!

This year, the theme of the festival is Celebrar Portugal (“Celebrating Portugal”). The events and workshops aim to highlight the country’s most acclaimed traditions and businesses related to chocolate consumption.

7 Reasons to Visit Obidos, Portugal for the Chocolate Festival

If we haven’t convinced you yet, we’re not giving up! Here are 7 reasons why you should not hesitate to sweeten your Portuguese journey at the Obidos Chocolate Festival!

1. Chocolate sculptures

Portugal is a country that cherishes tradition, art, and culture. How can one not see sculptures or any other pieces of art at a festival held in a historic city that breathes art in and out?!

But wait! That’s not even the best part! You’ll be able to actually observe the artists molding the chocolate sculptures on the spot! You’ll witness their creative process and the techniques they’re using to combine tradition, value, and… well, chocolate!

2. Cooking demonstration

The organizers of the festival have selected the best cooks who will be sharing their secrets in using chocolate for various recipes. Additionally, they’ll cook something on the spot using chocolate, surprising you with the creative results!

Photo by Maria Georgieva (Unsplash)

3. Competitions

This year, the festival will have six competitions:

  • The Chocolate Wedding Cake Star is dedicated to professional cooks who want to create a wedding cake using cocoa or chocolate; it will take place on the 9th of March. 
  • The Chocolate Rising Star is dedicated to enthusiasts who want to showcase their cooking talents; it will take place on the 1st, 2nd, 3rd, and 10th of March.
  • The Best Chocolate Product will take place on the 8th of March; the jury will select the best chocolate product exhibited at the Obidos, Portugal Chocolate Festival.
  • The Best Chocolate Cocktail is dedicated to baristas who will demonstrate their talent by creating a unique beverage using chocolate; it will take place on the 15th of March.
  • The Best Homemade Chocolate Cake, dedicated to anyone who wants to participate; will take place on the 16th of March.
  • The Best Chocolate Menu is dedicated to restaurants who want to try their hand at outlining a creative menu focusing on chocolate. The menu/dishes will be revealed on the 17th of March.

For further details regarding regulations and registration forms, please visit the Obidos Chocolate Festival official website.

4. Little Chefs Workshops

If you’re visiting Portugal with your children, brace yourself! They’ll probably end up asking if your family can move to Obidos forever! Living in the Chocolate City – what a dream!

However, being constantly surrounded by chocolate isn’t the only reason your kids will enjoy Obidos. There will also be a workshop for the little ones! They’ll be able to decorate eggs with colored cocoa butter, add chocolate, and paint the eggs with fat-soluble colors.

This way, they won’t only sweeten their day but also put their creativity and artistic selves to work! Afterward, the children will, of course, eat their creations!

Photo by Tetiana Bykovets (Unsplash)

5. Melgão Station Journey

Melgão Cacau e Chocolates is a famous brand in Portugal that focuses on transforming cocoa beans into high-quality chocolate. The company’s expertise revolves around wild and rare varieties.

This chocolate factory is located in the Montemor-o-Novo railway station building and has preserved its original decorative elements and, therefore, its historical value.

During the Obidos Chocolate Festival, you’ll have the opportunity to visit this factory. You’ll discover how cocoa beans end up being tasty chocolate tablets! During your chocolaty journey, you’ll also learn how the Melgão Cacau e Chocolates brand works toward developing sustainable practices, thus promoting environmental responsibility.

6. Exhibitions

A universe of chocolate – Obidos, Portugal! What a pleasure!

Not only will you witness professional cooks creating exclusive recipes live and artists using chocolate to make sculptures, but you’ll also have the opportunity to explore finished products in all their splendor!

7. Relax with a Cup of Chocolate

Are you a beer or cocktail connoisseur? Perfect! The International Chocolate Festival in Portugal has an excellent spot for you – a Chocolate Pub that serves a myriad of unique craft beer types and chocolate-based cocktails. This is definitely something you shouldn’t miss out on!

If you prefer coffee over beer – that’s not a problem at all! There will be a Portuguese-style terrace where you can delight in the tastiest espresso in the world with a piece of high-quality chocolate! Additionally, since Obidos is filled with tiny stops that offer Ginja in chocolate cups, don’t forget to stop and try some!

Obidos Chocolate Festival Tickets

As mentioned, the Obidos Chocolate Festival 2024 dates are 1st-17th of March. The festival’s schedule is Friday to Sunday, from 11 am to 8 pm.

Tickets cost only 10 EUR for adults and 8 EUR for children aged 3-11. Kids under two years old do not need a ticket. There are also various discounts for students, families, and people with disabilities. However, these tickets can be purchased at the local box office only.

If you’re visiting Portugal with a larger group (more than 25 people), you can contact the organizers at [email protected] to book a group ticket.

Tips on Visiting the International Chocolate Festival in Óbidos

First things first – the weather. Although Portugal can be quite warm in March, it can also be quite rainy (or both!). March is sometimes very sunny and hot; other times, it’s dull and windy. In short, prepare for both. Also, don’t forget that Obidos is located on a hilltop, so if the weather forecast predicts strong winds, you should definitely pack something to protect yourself from the cold.

Additionally, we strongly recommend bringing cash. There are indeed a few ATMs in the city, but we assume you’d rather eat some chocolate than stay in line at an ATM!

Since it will be pretty crowded, make sure to pack all your belongings safely.

How to Get to Óbidos Chocolate Festival

If you’re coming to Obidos by car, you can take the A8, A15, or IP6 motorways. To reach the festival faster, use the A8 North – Exit 17 – Gaeiras/Obidos or the A8 South – Exit 15 – Obidos exits.

If you don’t have a car, you can always take the train or the bus. Locals often use these to reach their destinations, so the train/bus routes are quite well organized and scheduled.

Here’s how to get to Obidos from Lisbon:

  • By train. You can take the train from one of the railway stations in Lisbon. For example, the first train to Obidos leaves the Sete Rios station at 5:49 am, arrives at 8:01 am, and costs only 9,05 EUR. There are multiple other trains throughout the day, the last one leaving at 6:50 pm. For further schedule and price information, be sure to check out the official Comboios de Portugal website.
  • By bus. Take the bus to Óbidos from Lisboa Campo Grande. Buses to Obidos are scheduled almost hourly, even after 6 pm. For further schedule and price details, check out the official Rodoviária de Oeste website.

How to get to Obidos from Porto:

  • By train. Reaching Obidos from Porto is slightly more difficult. There’s no direct train, which is why it will take more time (roughly 5 hours) and cost more (roughly 25 EUR).

If you’re traveling with a larger group, you can always take an Uber or a Bolt and split the costs. Considering that it’s also possible to schedule an Uber drive beforehand, you’ll have the liberty to choose the day/hour yourself.

Porto Chocolate Festival

The Obidos Chocolate Festival isn’t the only event in Portugal that honors the art of producing chocolate and cacao. In October, Porto District hosts another festival called Chocolat Portugal.

Although it is known as the Porto Chocolate Festival, it is actually held at WOW in Vila Nova de Gaia. This city is located south of the city of Porto. It should only take you 15 minutes by car to arrive there.

Similar to the Obidos Chocolate Festival, the Chocolat Portugal has a highly varied program that includes a chocolate market, a chocolate and cacao international forum, showcooking, and workshops. Last year, the festival greeted locals and tourists with Chocoland, an innovative concept designed just for kids that offers access to chocolate-related activities and a kids’ fun zone.

The dates for the 2024 Chocolat Portugal festival haven’t been announced yet, so keep an eye on the festival’s official website.

11 Bookstores in Lisbon You Need to Visit

If you think that Portugal is all about tiles, visual arts, and architectural and historical treasures, we’re here to tell you otherwise – it’s a haven for bibliophiles as well!

So, if you’re worried you won’t be able to satisfy your natural bookish instinct, just add some of the bookstores mentioned in this article to your must-visit list!

Make sure to instruct whoever accompanies you how to convince you in a friendly way to leave without buying too many books and spending hours there! We do know how tempting these atmospheric places can be for bookworms!

Without further ado, let’s set on a bookish journey through Lisbon, unraveling its most beautiful (and quite famous!) bookstores!

11 Bookstores in Lisbon You Need to Visit

Whether you’re looking for a famous bookstore in Lisbon, a tiny hidden bookish gem, or a bookstore with English books – we’ve covered everything! Take your traveling journal out and write down the most intriguing ones!

1. Ler Devagar

Location: R. Rodrigues de Faria 103 – G 0.3, 1300-501 Lisboa, Portugal

Hours: Sunday – Wednesday: 10 am – 10 pm; Thursday – Saturday: 10 am – 12 am

Ler Devagar is not only a bookshop. It’s a whole cultural project that’s been welcoming visitors for almost 25 years. It’s a space where people are free to express themselves and, without a doubt, one of Portugal’s most widely recognized locations for culture enthusiasts.

Over the years, Ler Devagar changed its location several times. Since 2008, though, the store has been located at LX Factory, a creative hub filled to the brim with art, music, fashion, multimedia, and other forms of expression highlighted via unique events. As such, it seems only natural for Ler Devagar to be located in the heart of LX Factory, in the heart of Lisbon’s most famous cultural hub!

This bookshop should undoubtedly be on any bookworm’s list of bookstores to visit in a lifetime. It occupies roughly 600 square meters of space, has a 14-meter high ceiling, and over 40,000 new books. If you prefer buying used books, you can choose one from the 10,000 second-hand titles in the store.

In addition, you’ll be able to see the permanent exhibition gallery for Objectos Cinemáticos, enjoy a cake at O Bolo da Marta, and look through the products at the Ouvir Devagar music shop.

By far the most enchanting part of this bookstore is the fact that it’s intertwined with the old printing press, which fills the building with an atmosphere that makes one feel as if they’ve stepped into the past.

Ler Devagar. Photo by francesbean (Flickr)

2. Livraria Bertrand

Location: R. Garrett 73 75, 1200-203 Lisboa, Portugal

Hours: Every day from 9 am to 10 pm

If you go for a walk to explore the neighborhood of Bairro Alto, particularly the Baixa-Chiado region, you cannot not spot Livraria Bertrand. It’s a fascinating building with a charming facade that catches the eye of any book lover!

And if its unique exterior and interior design, as well as its extensive collection of books, aren’t enough – what if we told you that Livraria Bertrand is the world’s oldest operating bookstore? It was, in fact, recognized by Guinness World Records in 2011, so you can check for yourself that we’re not making this up!

The bookstore survived earthquakes, a civil war, and the establishment of the Republic, which is why it’s renowned as a building standing on a rich historical foundation.

If you’re a true bookworm, you’ll probably spend hours in this bookstore – so, we must admit, it’s a bit dangerous if you haven’t planned to spend a whole day in a bookshop!

You’ll delve into the history of Portuguese literature while exploring the spaces dedicated to Aquilino Ribeiro (where the writer actually spent time reading), José Saramago, Almada Negreiros, Sophia de Mello Breyner, Alexandre Herculano, and Eça de Queiroz. In fact, the store was once the meeting point of various literary gatherings attended by some authors mentioned above.

Furthermore, the entrance from Café Bertrand (where you can savor Portuguese and international dishes) takes you to a mural depicting Fernando Pessoa, signed by Tamara Alvers.

Is there anything to add? Of course! But we won’t – you’ll have to experience the charm of Livraria Bertrand yourself during your next visit to Lisbon!

Livraria Betrand. Photo by Vernaccia (Flickr)

3. Livraria Trindade – Alfarrabista

Location: R. do Alecrim 36, 1200-018 Lisboa, Portugal

Hours: Sunday – Friday: 10:30 am – 7 pm; Saturday – Closed

We must warn you – Livraria Trindade – Alfarrabista is not just another bookstore in town. If you want to enjoy the nicely designed covers of contemporary books, go for the other options we’ve mentioned.

On the other hand, if you want to travel back in time by flipping through old and extremely rare books, Livraria Trindade – Alfarrabista is your go-to choice. However, you won’t only delight in awe-inspiring old books but also other antique pieces, like rare paintings or vintage decorative elements.

Ever since you set foot inside the store, you’ll find yourself immersed in a completely different atmosphere, as if you’re not even surrounded by the busyness of Lisbon’s historical center!

4. Mundo do Livro

Location: Largo da Trindade 11 13, 1200-466 Lisboa, Portugal

Hours: Sunday – Friday: 10 am – 6:30 pm; Saturday: 11 am – 7 pm

Located in Bairro Alto, close to Teatro da Trindade INATEL, Mundo do Livro is yet another century-old bookstore that focuses on old books, documents about Portugal’s history and culture, as well as antique maps, postcards, and prints.

Some of the books, if you’re lucky enough to find them, are even signed by their authors – a few even bear their dedications!

Prepare yourself – you may end up spending hours looking through the store’s collection, trying to find hidden gems you may want to take back home! 

5. Livraria da Travessa

Location: R. da Escola Politécnica 46, 1250-096 Lisboa, Portugal

Hours: Monday – Saturday: 10 am – 10 pm; Sunday: 11 am – 8 pm

Livraria da Travessa is located right next to the National Museum of Science & Natural History on Rua da Escola Politécnica, close to Rato metro station.

The history of this bookstore dates back to 1975 when it was called Muro. Back then, it was located in a mall in Rio de Janeiro. Over the years, the bookstore chain extended nationally and overseas, the Lisbon store being the first to open abroad.

Livraria da Travessa is one of Lisbon’s most notorious bookshops. It brought to Portugal hundreds of Brazilian titles that have never been on the Portuguese market.

So, if your reading challenge includes exploring less-known books written by foreign authors, give Livraria da Travessa a go – we’re sure you’ll find some bookish jewels there!

6. Menina e Moça

Location: R. Nova do Carvalho 40-42, 1200-000 Lisboa, Portugal

Hours: Monday – Friday: 3 pm – 2 am; Saturday – Sunday: 4 pm – 3 am

If you’re a bookworm but also enjoy spending your evenings out, do not miss out on Menina e Moça – a bar-bookstore. Sounds a bit odd, right? This is its charm!

According to the owners, the bar-bookstore pays tribute to the Portuguese authors and the country’s gastronomy. The staff strives to connect locals and internationals through various reading and cultural events and, after all, represent a provocation for anyone walking past it.

In the end, it’s not quite common to see a bookish place on a so-called night street, right? Let’s not forget about the design of this bar-bookstore, which conquers anyone stepping inside it.

7. Stuffout

Location: R. Quintinha 70c, 1200-368 Lisboa, Portugal

Hours: Closed on Tuesday and Wednesday; open from 11 am to 7 pm on other days

A tiny yet incredibly cozy bookstore located between Bairro Alto and Principe Real neighborhoods in Lisbon. It primarily sells second-hand books, but rest assured – many of them are in excellent shape!

By focusing on used books, the store aims to promote sustainability and encourage readers to give these books a second chance, as they are perhaps even more valuable than new ones.

Stuffout has books in both Portuguese and other languages, and all are at affordable prices. For example, an edition from 1970 of a book by Herman Hesse costs only 5 EUR, and it’s still in quite good shape.

8. Under the Cover

Location: R. Marquês Sá da Bandeira 88B, 1050-060 Lisboa, Portugal

Hours: Monday-Friday: 11 am – 7 pm; Saturday: 12 pm – 6 pm

If you’re looking for an unconventional bookshop, Under the Cover should definitely be on your list. It’s located near the Calouste Gulbenkian Museum – a tiny shop with an unmistakably blue facade that sells international magazines, books, journals, and artworks.

It provides visitors with any type of printed material – from art and fashion to food, architecture, and music. However, we must warn you that you probably won’t find too many fiction books there. Non-fiction pieces, on the other hand – there are plenty!

9. Salted Books

Location: Calçada Marquês Abrantes 96, 1200-720 Lisboa, Portugal

Hours: to be confirmed with the store

Salted Books is a bookish gem well hidden in the heart of Lisbon. It is located close to Museu da Marioneta and is a little haven for any bibliophile, even more so because all the books are in English.

Although it has opened its doors only recently, the store gained instant recognition among both locals and foreigners due to its authenticity and transparency. If you’re lucky enough, you may even attend some of their events, so don’t miss out on this one!

10. Livraria Sá da Costa

Location: R. Garrett 100, 1200-273 Lisboa, Portugal

Hours: Every day from 9:30 am to 12 am

Livraria Sá da Costa is the highlight of Baixa-Chiado. Located right next to A Brasileira, the famous cafe that breathes Portuguese history and culture, Livraria Sá da Costa complements it with its own charm and piece of history dating from the 1920s.

Since it’s a second-hand bookshop, you’d expect it to have books in Portuguese only, right?! Well, we’re here to tell you otherwise. You’d be surprised how many there are in other languages – rare editions even!

Once you enter the bookshop, you find yourself surrounded by antique pieces – paintings, vinyl records, old, authentic azulejo tiles, postcards, and many other collectible objects.

Then, as you advance through its many rooms, you’ll discover quite impressive collections of books. One small room, for instance, is dedicated to classics – they’re in Portuguese but the editions are absolutely fascinating. A true bibliophile will experience the greatest joy only by admiring them!

Livraria Sa da Costa. Photo by Rui Ornelas (Flickr)

11. FNAC

Location: there are multiple FNAC stores in Lisbon, but you can go for the one in the Baixa-Chiado – Armazéns do Chiado, R. do Carmo nº 2 Loja 407, 1200-094 Lisboa, Portugal

Hours: Every day from 10 am to 10 pm

FNAC is another store where you risk spending at least a few hours browsing through the hundreds of books that may soon become new titles on your TBR list.

What we like about FNAC is that it has multiple editions of various titles, particularly classics, which never cease to impress us. We’re sure you’ll find some that will fit perfectly on your shelves back home!

And, luckily for bookworms, FNAC is also an electronics store, so you can even check out the latest Kindles – there’s no harm in having a tiny Kindle, right?! It’s always a good idea to have an ebook waiting for you to finish a physical book, isn’t it?!

Microsoft is launching an AI innovation hub in Portugal

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Microsoft announced that it will launch an AI hub called the AI Innovation Factory, in Portugal, in partnership with Accenture, Avanade, and Unicorn Factory Lisboa, with the objective of accelerating businesses’ adoption of AI solutions.

The factory will be integrated within Unicorn Factory’s AI Hub, in Alvalade, Lisbon, and its goal is to foster innovation by leveraging AI and accelerating the increase of its application by public and private companies.

With an inauguration projected for November this year, the AI innovation factory will work across all sectors and contribute to the sustainable development of the country by creating and applying systems that rely on emerging technologies.

Until the inauguration date, the AI innovation factory’s program will start rolling within the headquarters of Microsoft and the remaining partners, in Lisbon. It will provide companies with a platform for enhanced inspiration and idealization, where they can access real use cases and try on approved design thinking methodologies.

According to a study by Microsoft and the consultancy firm IDC, 62% of Portuguese companies already use AI, and 25% of those who do not, hope to implement it in the near future.

Note that the data of the study come from more than 2,000 company leaders and decision-makers from around the world.

Currently, the three most applied use cases in Portugal are advanced data analytics, chatbots, and project optimization.

40% of Portuguese organizations (public and private) use public cloud platforms for experimentation, development, and testing of AI, and 26% use public cloud platforms during the entire cycle of implementing an AI solution.

36% of Portuguese organizations (public and private) already have an overseeing governance body responsible for supervising and managing the AI, and 77% affirm that it is very important that AI providers have a responsible AI strategy in place.

Companies are anxious to start developing and applying AI solutions. 67% of those who were interviewed already utilize AI tools in their organizations and 21% plan on doing it in the upcoming months.

The companies that have already implemented AI solutions are obtaining a return on investment (ROI) within 14 months, and for every 0.91 euros they spend, they get 3.06 euros back.

Notwithstanding, the lack of qualified professionals is hindering the possibility of accelerating the AI adoption process of 54% of Portuguese companies.

Portugal with fifth fastest growing economy in the EU in 2023

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According to the latest OECD report, the OECD countries’ GDP growth decreased to 1.6%, when compared to 2.9% in the previous year.

Among the 27 EU countries, Portugal was the fifth fastest-growing economy. Its GDP growth rate was 2.6%. This is above the OECD, the EU, and the eurozone averages, which were 1.6%, 0.5%, and 0.5%, respectively.

Above Portugal were the US and Spain with 2.5%, Mexico with 3.1%, and Costa Rica with 5.1%. On the other hand, 10 countries had a negative growth rate. Ireland, Hungary, and Austria are among those countries.

Note, however, that even though Portugal was the fifth fastest growing country in 2023, its GDP growth rate decreased substantially when compared to the previous year. It went from 6.8% to 2.6%, which represents a drop of 4.2 percentage points.

NHR 2.0: Portugal’s New NHR Tax Regime 2024

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2023 was a big year when it came to changes to the tax system for new residents in Portugal. It was announced that the Non-Habitual Resident (NHR) tax regime was coming to an end as parliament argued it was no longer beneficial to the country.

For the last 15 years, the NHR was available to all new tax residents in Portugal who were not Portuguese tax residents for the five years prior, granting them a 20% flat rate on personal income tax for 10 years. 

This was incredibly beneficial to new residents, especially those making over around 80,000 euros a year where the general rate for the population is 48%.

If you were not lucky enough to enjoy the NHR regime before it ended, you might still have a chance of enjoying some tax benefits with the new NHR regime, known as NHR 2.0. 

Grandfathering Rules: Is the initial NHR regime still available to me?

But before we get into the new NHR regime, make sure that you are not still eligible for the initial NHR. Although it has officially ended, you might still qualify if you started your move to Portugal back in 2023. According to Sam Daynes, from Holborn Assets, you are still eligible if you fit into the following Grandfathering rules:

  • Promissory employment agreement or promissory secondment agreement (or employment or secondment agreement) signed by 31 December 2023 to perform activities in Portugal or
  • Lease agreement or other agreement granting the use or possession of property located in Portugal and concluded before 10 October 2023 or
  • Reservation or promissory contract for the acquisition of property located in Portugal concluded before 10 October 2023 or
  • Enrolment or registration for dependents at Portuguese educational establishment by 10 October 2023; or
  • Residence visa or residence permit valid by 31 December 2023; or
  • The procedure, initiated by 31 December 2023, is for granting a residence visa or residence permit with the competent entities in accordance with the current immigration legislation (e.g., visa appointment in 2023).

The New NHR: Non-Habitual Residents in 2024

Now, let’s get into the new NHR for non-habitual residents in 2024. The new regime focuses on employment, primarily scientific research, and innovation, while no longer benefiting retirees and other high-value jobs.

The benefits remain the same – a 20% flat tax rate on personal income and a tax exemption on other passive income. Therefore, you will also not pay any tax on dividends, interest, royalties, capital gains, rental income from real estate outside Portugal, and income from employment in another country.

Keep in mind that this 20% flat rate could be incredibly beneficial when you look at the 2024 general tax rates for personal income in Portugal:

Up to €7,703 13.25%

€11,623 –€16,472 23%

€16,472 –€21,321 26%

€21,321 –€27,146 32.75%

€27,146 –€39,791 37%

€39,791 –€51,997 43.5%

€51,997 –€81,199 45%

Over €81,199 48%

Broadly speaking, employed or self-employed roles such as higher education professors, scientific research technology, and also start-up companies are eligible. But let’s get into more detail on who qualifies for the new NHR regime in Portugal.

Want to become part of the large community of US expats in Portugal? Sign up for Holborn Assets’ live webinar on the challenges facing US connected clients moving or living in Portugal. Find out all about the financial perks of moving to Portugal and have all your burning questions answered. The event is scheduled for May 16 at 5 pm (Lisbon Time) / 12 pm EST. If you would like to schedule a one-on-one call instead, you can book one here.


Register Your Spot

Who Qualifies for the new Non-Habitual Resident (NHR) Status in Portugal

  • Educational activities in higher learning institutions and scientific investigation, including employment in scientific roles within entities, structures, and networks affiliated with the national science and technology system. This also includes positions and individuals serving on governing bodies within entities acknowledged as technology and innovation centers in Portugal.
  • Employment positions and individuals serving on the boards of organizations that receive contractual tax incentives in Portugal through agreements with IAPMEI or AICEP. These incentives are applicable to substantial investments exceeding €3 million.
  • Highly qualified professionals working for entities benefiting from the Investment Promotion Tax Regime (RFAI)…
  • Or in industrial and service companies that export at least 50% of their turnover in the year of starting work or the prior two years.
  • Research and Development personnel whose costs are eligible for the R&D tax incentive system (SIFIDE).
  • Job positions and members of entities certified as start-ups under the Portuguese Start-Up Law. A start-up is defined, under Portuguese law as follows:
    • Less than 10 years of activity
    • Less than 250 employees
    • Less than €50 million turnover
    • Not held by a large company
    • Based in Portuguese territory or have more than 25 employees
    • Be an innovative company, have one round of VC financing, or investment from Banco Portugês de Fomento.

How to Obtain Residency in Portugal

In order to become a non-habitual resident, you must have lived in Portugal for more than 183 days in the space of 12 months. You can also have lived in the country for less than 183 days but have bought property in Portugal during those 12 months or performed public functions in the name of the Portuguese state for the last 12 months.

If the last two options were not the case for you, you will need to obtain residency in order to be eligible for the non-habitual tax regime. Portugal has some attractive long-stay national visas, also known as residency visas, that allow you to make use of the 10 years of tax incentives of the NHR status. Take a look at these guides for Portuguese visas: the Portugal Golden Visathe Portugal D7 Visa & the Portugal D2 Visa.

Keep in mind that the Portuguese Golden Visa no longer allows for investment through property since October 2023. Instead, the current investment routes include:

  • Donation to Arts €250,000
  • Venture Capital/Private Equity Fund €500,000
  • Donation to Research Activities €500,000
  • Company Creation 10 employees or €500,000 + 5 employees

If you are interested in learning more about financial planning and tax efficient tips, we will be providing a walk-through of the fundamentals of good wealth management and financial planning for expats, along with tips and essential advice.

Additionally, we’ll discuss tax implications, investment strategies, and how to maximize your financial potential in your new home. Join us to gain valuable insights and ensure a secure financial future in Portugal here.

Guide to the Non-Habitual Resident (NHR) Tax Regime 2024

For 15 years, the Non-Habitual Resident (NHR) tax regime in Portugal has attracted thousands of residents by offering reduced tax rates and even full tax exemptions for the first ten years of residence. NHRs are taxed at a flat rate of 20% on their income and are exempt from paying taxes on global income. 

However, in late 2023, it was announced that the Non-Habitual Resident (NHR) tax regime was coming to an end as parliament argued it was no longer beneficial to the country.

If you were not lucky enough to enjoy the NHR regime before it ended, you might still have a chance of enjoying some tax benefits with the new NHR regime, known as NHR 2.0. The benefits remain almost the same, but the pool of those who can apply has become a lot smaller. Moreover, the new regime focuses on employment, primarily scientific research, and innovation, while no longer benefiting retirees and other high-value jobs.

Benefits of the Non-Habitual Resident (NHR) Tax Regime in Portugal

Bear in mind that the following benefits only last for 10 years. After that, you will become a regular tax resident like other citizens and will have to abide by the traditional fiscal regime.

Personal Income Tax (IRS): 20% Flat Tax

Those who work in Portugal (freelance or regular employment) under the NHR tax regime only pay a 20% flat rate on personal income tax (IRS). 

Global Income

You will also not pay any tax on dividends, interest, royalties, capital gains, rental income from real estate outside Portugal, and income from employment in another country. These will be paid in the source country if your country has a Double Taxation Agreement (DTA) with the country. The UK, USA, and many more countries have a DTA with Portugal where this is the case. 

Other Taxes

If your pension income happens to be taxed in Portugal as you are not eligible under a DTA, it will only be taxed at a flat rate of 10% which includes retirement savings and insurance. Those with non-habitual residency status pay pension tax like income tax, which can go up to 48%. You will also not pay any inheritance or wealth tax.

Want to become part of the large community of US expats in Portugal? Sign up for Holborn Assets’ live webinar on the challenges facing US connected clients moving or living in Portugal. Find out all about the financial perks of moving to Portugal and have all your burning questions answered. The event is scheduled for May 16 at 5 pm (Lisbon Time) / 12 pm EST. If you would like to schedule a one-on-one call instead, you can book one here.


Register Your Spot

Eligibility & Requirements: Who Qualifies for Non-Habitual Resident (NHR) Status in Portugal

Keep in mind that you must have the right to be in Portugal through a long residency visa such as the Portugal Golden Visa, the Portugal D7 Visa, or the Portugal D2 Visa. Here’s a list of who qualifies for the new NHR in Portugal:

  • Educational activities in higher learning institutions and scientific investigation, including employment in scientific roles within entities, structures, and networks affiliated with the national science and technology system. This also includes positions and individuals serving on governing bodies within entities acknowledged as technology and innovation centers in Portugal.
  • Employment positions and individuals serving on the boards of organizations that receive contractual tax incentives in Portugal through agreements with IAPMEI or AICEP. These incentives are applicable to substantial investments exceeding €3 million.
  • Highly qualified professionals working for entities benefiting from the Investment Promotion Tax Regime (RFAI)…
  • Or in industrial and service companies that export at least 50% of their turnover in the year of starting work or the prior two years.
  • Research and Development personnel whose costs are eligible for the R&D tax incentive system (SIFIDE).
  • Job positions and members of entities certified as start-ups under the Portuguese Start-Up Law. A start-up is defined, under Portuguese law as follows:
    • Less than 10 years of activity
    • Less than 250 employees
    • Less than €50 million turnover
    • Not held by a large company
    • Based in Portuguese territory or have more than 25 employees
    • Be an innovative company, have one round of VC financing, or investment from Banco Portugês de Fomento.

How to Apply for Non-Habitual Residency in Portugal

How to Obtain Residency in Portugal

In order to become a non-habitual resident, you must have lived in Portugal for more than 183 days in the space of 12 months. You can also have lived in the country for less than 183 days but have bought property in Portugal during those 12 months or performed public functions in the name of the Portuguese state for the last 12 months. If the last two options were not the case for you, you will need to obtain residency in order to be eligible for the non-habitual tax regime. Portugal has some attractive long-stay national visas, also known as residency visas, that allow you to make use of the 10 years of tax incentives of the NHR status. Let’s go through our favorites: the Portugal Golden Visa, the Portugal D7 Visa & the Portugal D2 Visa.

Keep in mind that the Portuguese Golden Visa no longer allows for investment through property since October 2023.

Portugal Golden Visa

The Portugal Golden Visa was launched in 2012 to increase foreign investment in Portugal and boost the economy as it requires an investment of at least €350,000. With the Golden Visa, non-EU/EEA/Swiss citizens can live and work in Portugal, as well as travel freely within the Schengen area. The visa leads to permanent residence after 5 years and citizenship after 6 years. However, you do not need to live in Portugal to obtain this visa. You must stay in Portugal for at least 7 days in the first year and 14 days in the subsequent years. The most important thing is that you make an investment with funds from outside of Portugal.

Since 2023, the Golden Visa investment routes have changed and property investment is no longer an option. Instead, the current investment routes include:

  • Donation to Arts €250,000
  • Venture Capital/Private Equity Fund €500,000
  • Donation to Research Activities €500,000
  • Company Creation 10 employees or €500,000 + 5 employees

Take a look at our full guide to the Portugal Golden Visa here.

Portugal D7 Visa

The Portugal D7 Visa is suitable for retirees, digital nomads, and remote workers with proof of a stable income. The D7 Visa was introduced in 2007 and allows non-EU/EEA/Swiss citizens to obtain permanent residency in Portugal after 5 years and citizenship after 6 years. This might sound similar to the Golden Visa, but unlike it, it does not require an investment. All you need is to prove that you have a solid passive income that can come from a retirement pension, a financial investment, real estate income, or salary.

The minimum income required is €8,460 per year for the main applicant. For a spouse, you must add 50% to this (€4,230) and for a dependent child, you must add 30% to this (€2,538). Therefore, for a couple with one child, you would need around €15,300 a year to be eligible for the D7 Visa.

You must also spend at least 16 months in Portugal during the first 2 years of the visa, as well as have a clean criminal record and show proof of residence address in Portugal (rental or purchase).

Take a look at our full guide to the Portugal D7 Visa here.

Portugal D2 Visa

The Portugal D2 Visa caters to entrepreneurs, freelancers, and independent service providers who wish to reside in Portugal. Non-EU/EEA/Swiss citizens who want to start a business in Portugal or relocate their existing business to the country can make use of this visa. Another option is choosing to invest in a Portuguese business. Like the Golden Visa and D7 Visa, the D2 visa allows for permanent resident status after 5 years and citizenship after 6 years.

To be eligible, you must prove that you have the financial resources to sustain your business. Although there is no number set in stone, the recommended minimum is at least €5,000. You will also have to show that you can financially sustain yourself

You will also have to present a business plan that demonstrates your business is economically viable and that will be reviewed for its social, economic, and cultural impact.

Keep in mind that the non-habitual resident tax regime applies to your personal income tax, personal capital gains, pension allowance, etc, but your company will still have to pay the normal corporate tax (21% in mainland Portugal) and social security fees (23.75% on top of each employee monthly wage).

Take a look at our full guide to the Portugal D2 Visa here.

Portugal Golden Visa: The Ultimate Guide to Portugal’s Golden Visa 2024


Considering Portugal's Golden Visa Program? Everything you need to know + how to qualify with 325,000 EUR

If you're interested in finding out the latest details about the Golden Visa program and want to take advantage of the new opportunities. Signup for a live Q&A webinar with an expert from Holborn Assets that will answer all your questions. The event is scheduled for February 13 at 5 PM Lisbon Time (1 PM EST). The live webinar will cover the following:

  • Golden Visa basics, how to qualify, who can be included
  • New Investment Criteria for 2024
  • Golden Visa timeline and process
  • How to qualify with just 325,000 EUR - this exclusive offer includes investment loan financing to bridge the gap to reach the 500k minimum investment
  • What tax breaks are available?
  • Live Q&A for all questions
Register for FREE

*If you cannot attend the seminar or would prefer one-on-one, book a call here.

Portugal’s Golden Visa Not Ending After All

In June 2023, the government announced the visa scheme is not fully ending. Instead, certain investment options that make you eligible for the visa are being scrapped, predominantly related to real estate. So while it is true that you will no longer be able to purchase property to be eligible, there are still plenty of other investment avenues.

The current investment routes include:

  • Donation to Arts €250,000
  • Venture Capital/Private Equity Fund €500,000
  • Donation to Research Activities €500,000
  • Company Creation 10 employees or €500,000 + 5 employees

What is the Portugal Golden Visa?

Created in 2012, the Portugal Golden Visa is known as one of the most attractive in the world. The Portugal Golden Visa was created to boost foreign investment to benefit the Portuguese economy. The program allows non-EU citizens to qualify for a residency permit and eventually a passport in the country through investments.

With a Portugal Golden Visa, you can live in Portugal and travel within most European countries without an issue. However, you do not need to live in Portugal to be eligible for this visa. All you need to do is to stay in the country for at least 7 days in the first year and 14 days in the subsequent years. You obviously also need to engage in an investment, which we will get to.

portugal golden visa statistics

Guide to Portugal Visas

What are the Benefits of the Portugal Golden Visa?

portugal golden visa benefits

1. Visa Exemption

The Portugal Golden Visa allows you to enter Portugal and the Schengen area (26 EU Countries). You can travel freely without requiring a visa, essentially granting you the travel privileges of European Union citizens.

2. Ability to Stay in Portugal

The visa grants you the right to live, study and work in Portugal as if you were an EU citizen.

3. Family Perks

The Portugal Golden Visa does not only grant the investor privileges but also their family members. The program includes family reunification, meaning that a spouse, minor children, children over 18, children over 18 who are studying, and parents who are financially dependent on the investor are all granted the same rights. They can all live and work in Portugal and travel freely within the Schengen area, as well as enjoy all the visas’ benefits.

4. Permanent Residence: Does the Portugal Golden Visa Lead to Residence?

The investor can apply for permanent residence if they follow all the requirements and complete the 5 years necessary.

5. Citizenship: Does the Portugal Golden Visa Lead to Citizenship?

After legally residing in Portugal for at least 6 years, the investor can apply for Portuguese citizenship and potentially obtain a passport. However, to get citizenship you must obtain an A2 Portuguese language certificate, prove you have links to the country such as through your investment, provide documents such as proof of a Portuguese bank account, and have no criminal record.

6. Tax Incentives: Non-Habitual Resident Tax Regime in 2024

Guide to NHR Tax Regime 2.0

The Portugal Golden Visa provides some inviting tax incentives. You will not be faced with any tax responsibility unless you become a tax resident, meaning you spend more than 183 days of the year in Portugal.

If so, under the Portugal Gold Visa, you might also be able to become a Non-Habitual Resident (NHR) tax regime if you are eligible under recently more strict conditions. Here are the benefits of this tax regime:

    • Income is taxed at 20%
    • You will only be taxed on your worldwide income after the first 10 years of residence.
    • Foreign interest, dividends, rents, and property capital gains can be exempted from taxation. You will also not pay an inheritance or wealth tax.

Keep in mind that the initial NHR that was initiated in 2009 ended in late 2023, but a new NHR 2.0 is now in place with similar benefits. The benefits remain almost the same, but the pool of those who can apply has become a lot smaller. Moreover, the new regime focuses on employment, primarily scientific research, and innovation, while no longer benefiting retirees and other high-value jobs.

Want to become part of the large community of US expats in Portugal? Sign up for Holborn Assets’ live webinar on the challenges facing US connected clients moving or living in Portugal. Find out all about the financial perks of moving to Portugal and have all your burning questions answered. The event is scheduled for May 16 at 5 pm (Lisbon Time) / 12 pm EST. If you would like to schedule a one-on-one call instead, you can book one here.


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Who can get a Portugal Golden Visa?

You are eligible for a Portugal Golden visa if you are a non-EU/EEA/Swiss national. You need to be at least 18 years old and have no criminal record. The main requirement is that you make an investment in Portugal, which will be explained in detail in the next section. Keep in mind that property is no longer an accepted investment route. 

Life After Brexit: Why Should UK Nationals Apply for a Portugal Golden Visa?

Since January 1st, 2021, UK citizens are eligible to apply for the Portugal Golden Visa which allows them to travel freely within the Schengen Area. This is a great option for UK nationals who want to enjoy some benefits, essentially getting back most of the EU citizen rights that were lost in Brexit. A UK national with a Portugal golden visa can travel freely through the Schengen area (26 EU Countries). A UK national will then also have the right to work, study, and live in any EU/EEA country. They will also be able to apply for residence and later on, citizenship, granting a UK national an EU passport.

Golden Visa Portugal Investment Options: What investments qualify for a Portugal Golden Visa in 2024?

There are four main types of investment types to qualify for a Portugal Golden Visa in 2024.

  • Donation to Arts €250,000
  • Venture Capital/Private Equity Fund €500,000
  • Donation to Research Activities €500,000
  • Company Creation 10 employees or €500,000 + 5 employees

According to Holborn Assets, Portuguese venture capital/private equity funds account for the vast majority of new Golden Visa applications, having the largest selection of investment options. This investment route is also the only option that requires no active management from the investor, nor a donation to the government.

Golden Visa Application Costs: How much does the Portugal Golden Visa Application Cost?

There are a number of government application fees when applying for a Portugal Golden Visa. The processing fee is around €550 at the beginning and then you will have to pay around €80 for each renewal. The initial application fee is around €5,325 per person, a one-time payment. The renewal application fee costs €2,663 per person. If you want eligible members to also have a Golden Visa, you must pay this fee for them, as well.

Also, expect to pay a legal fee and prices will depend on the law firm and investment types. The prices usually start from €5,000 for legal costs. However, a lawyer’s help will make the whole bureaucratic application process a lot easier.

Portugal Golden Visa: Healthcare in Portugal

Portugal has a strong National Health Service called SNS, which takes the 17th spot on the World Index of Healthcare Innovation. If you obtain a Portugal Golden Visa, you can register with the SNS and access public healthcare. After you obtain your visa, you must register with the local health care center using your residence card. You will then be provided with your healthcare number that you will need to access public health care.

The SNS provides multiple services from emergency treatment, psychiatric care, and maternity care. Most services are free. However, there are certain particular services such as visiting energy rooms or diagnosing exams that require payment. Usually, the prices range from €5 to €20. SNS services are completely free for children under 18 and those over 65. Dental care is not included in the SNS. 

Aside from the SNS, Portugal also has private hospitals as it has a hybrid public-private health system. If you have a Portugal Golden Visa, you can purchase private insurance so that prices are more affordable. Health insurance prices range from €300 to €1,000 a year, depending on the company and other personal factors such as your age.

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Considering Portugal's Golden Visa Program? Everything you need to know + how to qualify with 325,000 EUR

If you're interested in finding out the latest details about the Golden Visa program and want to take advantage of the new opportunities. Signup for a live Q&A webinar with an expert from Holborn Assets that will answer all your questions. The event is scheduled for February 13 at 5 PM Lisbon Time (1 PM EST). The live webinar will cover the following:

  • Golden Visa basics, how to qualify, who can be included
  • New Investment Criteria for 2024
  • Golden Visa timeline and process
  • How to qualify with just 325,000 EUR - this exclusive offer includes investment loan financing to bridge the gap to reach the 500k minimum investment
  • What tax breaks are available?
  • Live Q&A for all questions
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*If you cannot attend the seminar or would prefer one-on-one, book a call here.