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

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

News

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February 26, 2024

Microsoft is launching an AI innovation hub in Portugal

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

News

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February 26, 2024

Portugal with fifth fastest growing economy in the EU in 2023

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

Moving To Portugal

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February 21, 2024

NHR 2.0: Portugal’s New NHR Tax Regime 2024

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 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. 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

Moving To Portugal

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February 21, 2024

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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.

Updated 2024: Cost of Living in Lisbon

Moving To Portugal

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February 20, 2024

Residing in Lisbon comes with advantages, including its closeness to beaches, access to culture, and incredible food scene. What sets it apart from other European capitals is the affordability of living, though the cost has been noticeably increasing, posing a challenge for the residents on a local Portuguese salary. Still, Lisbon is around 30% cheaper than Paris and 50% cheaper than London.

Keep in mind that the highest cost for anyone moving to Lisbon is the rent. The average price for an apartment in Lisbon is 21€/m2 (December 2023), a 17% increase in comparison to December 2022. Let’s take a look at the average monthly budget in Lisbon for expats without children, families, and digital nomads in 2024.

Guide to Lisbon

Cost of Living in Lisbon for an Expat

Housing: For a one-bedroom apartment that’s around 60 m2, expect to pay over €1200. Alternatively, you can also find studios for €700 to €900 a month but expect cramped conditions. Rooms in shared homes tend to go for around €600 at the moment.
Utilities: You need to budget at least €100 to €150 for bills such as electricity and gas, but this can go up in the winter with a lot of use of your heating. Also, keep in mind that your internet and phone bill should run you around an extra €50.
Groceries: The price of groceries depends on your lifestyle, diet, choice of products, as well as where you shop. But for a safe bet, budget at least €100 a week for groceries for one person.
Eating Out: Full meals for €10 are a thing of the past in Lisbon. While you can still find a few bargains, prices this low are rare and hard to find. A meal out will cost you at least €20 without alcohol at most mid-range restaurants but can be a lot more expensive. If you eat out twice a week, for example, you will need to budget at least €160 a month, but this amount is still pretty conservative.
Transportation: Lisbon has new transport passes for €40 called Passe Navegante which allows you to use all public transport companies in the 18 municipalities in greater Lisbon.
Healthcare: Much like the UK’s NHS, Portugal’s public healthcare system provides essential medical services free of charge to residents, though certain state healthcare services may necessitate standard user fees. These fees range, with examples including €15 for Accident and Emergency Department visits and €5 for basic GP appointments. If you want to go private for easier access to appointments and a wider range of services available (dermatology and dentistry, for example), health insurance will cost you anywhere between €40 to €100 a month.

Cost of Living in Lisbon for a Digital Nomad

Housing: If you are looking for a short stay of less than a year, you might still be able to rent a place with a rental contract and pay around €1200 for a one-bedroom. However, it’s more likely that you will have to book a place on Airbnb. This will cost you at least around €1500 for a small apartment during the low season, and anywhere from €2500 to €3000 during the summer. Alternatively, renting a bed at a hostel for around €30 could help you save some money.
Groceries: Digital nomads tend to want to explore the food scene since they might be staying in Lisbon for shorter periods of time. However, if you are keen on making most of your food at home, budget €100 a week for groceries for one person.
Transportation: Lisbon has new transport passes for €40 called Passe Navegante which allows you to use all public transport companies in the 18 municipalities in greater Lisbon. Uber and Bolt also offer quite affordable fares in Lisbon.
Eating Out: A meal will cost you around €20 at an average mid-range restaurant without alcohol. But you can easily spend €40+ on a meal for one at certain restaurants in Lisbon.
Sightseeing & Leisure: Make the most out of Lisbon while you’re here. The city has plenty of museums, theaters, cinemas, and bars to explore. Budget around €30 to €50 a week for these kinds of activities.
Coworking: Coworking spaces in Lisbon are becoming more expensive, matching other European cities. Renting a desk for a month can cost around €200 or more.

Cost of Living in Lisbon for a Family of Four

Housing: A 3-bedroom apartment in Lisbon will cost you around €2,100 but can easily go up to €3,000. You can find more affordable apartments in areas just outside Lisbon like Odivelas (13,2 €/m2), Amadora (13,4 €/m2), and Loures (12,9 €/m2), but then having a car is recommended.
Utilities: You need to budget at least €200 for bills such as electricity and gas, but this can go up in the winter with a lot of use of your heating. Internet and phone bills will depend on the amount of phones, but budget at least €100 for a family package.
Groceries: The price of groceries depends on your family’s lifestyle and food choices. But for a safe bet, budget at least €200 to €250 a week for groceries for a family of four.
Transportation: Lisbon has new transport passes for €40 called Passe Navegante which allows a person to use all public transport companies in the 18 municipalities in greater Lisbon. But for families, the deal is even better! Each family only needs to pay a maximum of two passes for €80 and the whole family gets transport included. If you have children under 12, they can also get a pass for free.
Eating Out: A meal out will cost you at least €20 without alcohol at most mid-range restaurants but can be a lot more expensive. If you eat out once a week with your family, for example, you will need to budget at least €300 a month, but this can be a lot more depending on the choice of restaurants.
Education: Schools can easily be the largest portion of your budget unless you opt for free Portuguese public schools. If you are looking for an international environment and English-speaking schools, private international schools can cost you anywhere between €7,000 and €20,000 a year per child. A private Portuguese school will cost you around €6,000.
Healthcare: Portugal’s public healthcare system provides medical care for free to residents, though certain state healthcare services include standard user fees (like €5 for basic GP appointments). At this moment, however, your family is unlikely to be given a family GP as there are none available, making access harder. Therefore, if you want to go private, you should get health insurance for your whole family which can cost at least €200, depending on factors such as age and previous illnesses.

Portuguese Public Holidays in 2024

Lifestyle

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February 19, 2024

In 2024, Portugal, a nation rich in religious, historical, and cultural days will experience a series of national public holidays recognized by the government. These holidays play a crucial role in the Portuguese calendar.

The general rule is that every worker is entitled to 22 working days off for vacation. However, with public holidays that might lead to extended weekends, you can maximize your time off.

Keep in mind that not only do you get days off, but expect shops and businesses to be closed as well. Moreover, Portugal’s public holidays, known as feriados, come with an interesting twist.

Unlike in some other countries, if a holiday falls on a Sunday, it doesn’t extend to the following Monday. The country features a range of both mandatory and optional holidays, with some being celebrated nationwide and others holding regional importance.

Let’s explore the list of national public holidays set for 2024.

Nationwide Public Holidays 2024

January 1: The first day of the year, on a Monday.
February 13: Carnival Tuesday, and businesses might still decree a “ponte” (bridge) where Monday is also off.
March 29: Saint Friday
March 31: Easter Sunday
April 25: Carnation Revolution, celebrated this year on a Thursday
May 1: Labour Day, which falls on a Wednesday
May 30: Corpus Christi Day on a Thursday
June 10: Camōes Day on a Monday
August 15: Day of the Assumption of Our Lady, the only holiday in August which falls on Thursday
October 5: Republic Day on Saturday
November 1: Day of All Saints on Friday, allowing for a long weekend
December 1: Restauration for Independence Day
December 8: Day of the Immaculate Conception
December 25: Christmas Day on a Wednesday

Local June Holidays

In the month of June, many cities in Portugal celebrate public holidays related to Catholic saints. These lead to celebrations all over the country, often known as Santos Populares.

June 13: Lisbon’s Saint Anthony Day on Thursday

June 24: Saint John’s Day in Porto, Braga, and Tavira

June 29: Saint Peter’s Day in Évora

Lisbon City Hall approves requalification of palace into housing instead of tourist accomodation

News

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February 19, 2024

Lisbon City Hall approves requalification of palace into housing instead of tourist accomodation

According to CNN Portugal, the Lisbon City Hall finally approved the requalification of an old palace (Palacete Touzet) located in Alcântara, Lisbon.

Dating back to 1888, Palacete Touzet served as the headquarters and atelier of the Touzet construction company, which was funded by the French constructors Charles Vieillard and Fernand Touzet, the authors of a large amount of the industrial patrimony that was built in Lisbon. The Central Tejo complex is one example of that patrimony.

This beautiful old palace, which can be considered a historic and patrimonial building, has been closed for years. Its conservation state has been deteriorating, and today, only the facades and the stairs remain.

The proposal for the new project has been around since 2017, but it was only approved very recently. Initially, according to the first proposal the property was going to be transformed into accommodation for tourists, but now it will be used for housing.

Given the characteristics and the value of the property, in terms of urban space, the Lisbon City Hall chose to approve the requalification under the condition that the facades are maintained. This decision aims at preserving that same value.

This type of requalification, which has been called ‘demolition’, is somewhat polemic. According to the article published by CNN Portugal, the property will be demolished but the facades will be preserved. However, considering that there is nothing but ruins inside, calling it a ‘demolition’ may induce the wrong idea.

What is rotten will be taken down, but the image will be preserved. Within the facades, a new building will emerge. One that considers and preserves the value of what it once was.

When the project is complete, Palacete Touzet will regain its image (not the old ruins), and its inside will be transformed into one studio apartment, one T1, five T2s, three T3s, and five T4s.

50 radio stations boycott the Portuguese elections

News

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February 19, 2024