1. Tax Regime May Hinder Foreign Interest in Portugal
Investors and promoters fear that foreign millionaires will choose other destinations. The Non-Habitual Resident (NHR) regime and the golden visa program need revisiting to attract foreign direct investment, according to Hugo Santos Ferreira, president of APPII (Portuguese Association of Real Estate Promoters and Investors). He emphasizes that Portugal is losing its capacity to attract investors due to the decreasing attractiveness of these regimes. Brazilian and American citizens do continue to show interest in living in Portugal, particularly in the NHR regime and its fiscal benefits.
At CIMI 360 in São Paulo, many Brazilians expressed a desire to invest in Portugal. The NHR regime, though revoked by the previous government, has a transition period until March 31, 2025, allowing reduced IRS rates on labor income. However, this regime has become complex and limited in competitiveness. Ferreira states, “This government needs to invest in new mechanisms” to attract wealthy individuals, especially as Portugal competes with other European countries offering similar programs.
The APPII proposes a new Smart, Social & Green Visa to stimulate investments in affordable housing and sustainability. The golden visa program lost much of its appeal when the option for residency through real estate purchases ended. Recent statistics show that Americans lead in obtaining golden visas, highlighting the need for Portugal to enhance the NHR program to attract high-net-worth individuals seeking new opportunities.
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2. Lisboa Barroca Festival Takes Over Graça on the Last Weekend of October
The second edition of the Lisboa Barroca Festival will take place in Graça on the last weekend of October, featuring concerts and a lunch with musical accompaniment across various locations in the neighborhood. The program begins on Saturday night, October 26, with the opening concert Between Light and Shadow, performed by soprano Lauren Lodge-Campbell and theorbo player Sergio Bucheli at Camones. The eclectic repertoire blends Baroque pieces by composers like Purcell, Dowland, and Monteverdi with modern songs by Rufus Wainwright, Cole Porter, and others.
On Sunday, October 27, the day starts at noon with a solo performance by Maria Bayley, who will present “love songs from the Iberian Peninsula” from the 17th and 18th centuries at Galeria Arte Graça. Following this, there will be a lunch at Penalva da Graça with a “musical surprise,” requiring advance reservations. The festival closes at 5:00 PM in Igreja da Graça with Paradisi: Visions of Paradise in the 17th Century, featuring works by composers like Schütz, Zielenski, and Bruhns, performed by Tiago Mota, Sergio Bucheli, and Maria Bayley.
Where? Graça (various locations). When? October 26-27. How much? 7 to 10 euros.
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3. Strike Will Affect Train Services for Nearly Two Weeks
The upcoming strike, called by the Railway Union of Commercial Review (SFRCI), will affect CP (Comboios de Portugal) services from October 24 to November 3. CP anticipates “significant disruptions across all services,” particularly on October 31, the eve of a holiday, and some disruptions on November 1. The prolonged weekend is expected to be when the strike most severely impacts train operations, with occasional disruptions on other days, especially in Lisbon Urban services and Intercity Lisbon-Algarve.
Disruptions are forecasted for regional and interregional services, along with urban services in Coimbra and Porto, specifically on October 28, 29, and 30. The International Celta service (Porto-Vigo) may also be affected. Passengers can request refunds for tickets purchased for affected services, both online and at ticket offices, up to 15 minutes before departure. After this period, refunds can be requested within ten days after the strike by filling out an online contact form. Alternatively, tickets can be exchanged for another train of the same category and class.
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4. Vinhais Celebrates Chestnut Season with Rural Castanea Festival and the Biggest Roast in the World
From October 25 to 27, Vinhais celebrates the chestnut at the Rural Castanea – Festa da Castanha, highlighting the chestnut’s economic significance. The event features the “World’s Largest Chestnut Roaster,” roasting one and a half tons of chestnuts for visitors. This festival emphasizes local products, with food stalls, competitions like the “Chestnut Eating Contest,” and various entertainment activities.
Another key attraction is the “Chestnut Harvesters” contest, along with culinary demonstrations by chef Bruno Cambado, showcasing innovative dishes with local ingredients. Visitors can participate in the “Soutos Route” walking tour and learn about chestnut trees. The festival promotes the region’s rich culture and the importance of chestnuts, with annual production around 15,000 tons.
With a focus on gastronomy, the event includes the popular “Magusto” and the “D’Gustar TTM” tasting initiative, celebrating local flavors. Concerts featuring Toy and Bárbara Bandeira add to the festive atmosphere. The Rural Castanea Festival highlights Vinhais’s role as a major chestnut producer, fostering community engagement and appreciation for local heritage.
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5. New Rock Engraving Over 20,000 Years Old Discovered near Santarém
A fourth engraving over 20,000 years old depicting a headless horse was discovered in the Ocreza Valley in Mação (Santarém). This Paleolithic art, resembling the earlier “Horse of Ocreza” found in 2000, indicates a pattern in rock art style, as it shows no evidence of a head. Researcher Sara Garcês emphasized its significance, describing the figure as “very interesting” and highlighting its novelty in the region.
The Ocreza Valley is now home to over a hundred engravings from various periods, with four dating back to the Upper Paleolithic. This ongoing prospecting project, set to continue until 2026, seeks to explore the valley’s archaeological potential further. Archaeologist Telmo Pereira noted that the area has garnered attention due to the recent discoveries and the increased tourist visits stemming from the Paleolithic art found there.
Pereira also stressed the importance of a trained eye for identifying engravings, as visibility can be challenging due to changing lighting conditions. The next objective is to associate these engravings with artifacts and sediments to understand the behavior and survival of people during a time of climatic crisis. The discoveries in the Ocreza Valley continue to shed light on the region’s rich archaeological history and the cultural practices of ancient communities.
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6. Prime Minister Luís Montenegro Announces Seven Decisions for Government Implementation
The Portuguese Prime Minister, during the closing speech of the PSD Congress, announced “seven new decisions” the Government will implement, focusing on key areas such as water, security, domestic violence, territorial cohesion, preschool education, health, and immigration. He emphasized that the PSD distinguishes itself by engaging in politics “in a civilized manner,” avoiding insults or belittling others, a remark seemingly aimed at the Chega party.
On water, Montenegro mentioned agreements with Spain and the launch of a water infrastructure program. In terms of security, he promised to strengthen police presence and create multidisciplinary teams to address violent crime, illegal immigration, and human trafficking. For domestic violence, he announced the doubling of financial support to help victims gain independence and a 25 million euro investment in teleassistance and transportation services for victims.
Regarding territorial cohesion, a new management entity called Parque Humberto Delgado will rehabilitate the southern riverside arc around Almada, Barreiro, and Seixal, and manage projects like the Ocean Campus. For education, he revealed increased public funding for preschool access and announced a revision of basic and secondary education curricula. In healthcare, he stated that 150,000 patients will be able to collect hospital medications from local pharmacies. On immigration, he announced new temporary accommodation centers in Lisbon and Porto, alongside a plan to attract foreign talent.
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7. Portuguese National Republican Guard (GNR) Recorded 103 Bullying Crimes in the 2023/2024 School Year
The GNR reported 103 bullying crimes in the 2023/2024 school year, including 12 cases of cyberbullying, announced the security force today, on World Anti-Bullying Day. In the context of preventing and combating violence, offenses, threats, and any form of intimidation in schools, the GNR has joined this day “due to its relevance in the lives of children and young people.” “Violence occurs outside the sight of adults, and many victims hide or avoid reporting the aggression they have suffered, which is why this awareness campaign extends to parents, teachers, and staff to look for warning signs that should be reported and recognized in the school and family environment,” stated the GNR.
The Guard indicated that it carried out 1,960 awareness-raising actions related to bullying during the 2023/2024 school year, aimed at 71,866 children and young people, primarily in school contexts, covering 1,898 public and private educational institutions, according to provisional data. In the current school year, and up to October 17, the GNR has conducted 244 awareness-raising actions related to bullying, reaching 8,729 children across 236 educational institutions.
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8. Oliveira Twins Finish Just Off the Podium at Track World Championships
The Oliveira twins, Rui and Ivo, finished in fourth place in the madison at the Track World Championships in Ballerup, Denmark, just six points shy of the podium. Competing against strong teams, they showcased their status among the best track cyclists in the world. Rui Oliveira, the Olympic champion, noted their performance was one of their best, highlighting their strong coordination and strategy during the race.
Portugal surprised by gaining a lap lead and maximum points early on, demonstrating a strong start. However, the German duo of Roger Kluge and Tim Torn Teutenberg ultimately dominated the race, while the Belgians secured silver and the Danes took bronze. Ivo Oliveira expressed pride in their race despite falling short of a medal, and Rui reflected on mistakes that hindered their chances, emphasizing their phenomenal legs throughout the competition.
In addition, Diogo Narciso also competed strongly in the elimination race, finishing fourth amid a controversial incident involving the Dutch rider Jan-Willem van Schip. Meanwhile, young cyclist Tobias Hansen secured gold in the men’s individual pursuit, and Portuguese Daniela Campos finished 12th in the points race. The championships were marked by intense competition, showcasing the talent and determination of athletes on the global stage.
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9. Air France – KLM Hires Legal Team for TAP Privatization
Air France-KLM has hired the American law firm Skadden and the Portuguese firm J+Legal to provide legal advisory for the privatization of TAP, the Portuguese airline. Diogo Leónidas from J+Legal will lead the team in Portugal, supporting Skadden in this process. This move signals strong interest from the Franco-Dutch group in acquiring TAP, with a meeting scheduled between Air France-KLM and the Portuguese government later this month.
Meanwhile, other competitors, such as IAG (owner of British Airways and Iberia) and Lufthansa, are also gearing up for the privatization process. IAG has engaged Vieira de Almeida for legal services, while Lufthansa has retained PLMJ. The government, having met with IAG and Lufthansa, will consult with Air France-KLM before outlining its proposal for the sale of the company, with new valuations of TAP’s value currently underway.
Air France-KLM is working with both Skadden and J+Legal to ensure a blend of local knowledge and international expertise in financial and M&A operations. The Dutch group has also secured a financial advisor, though their identity remains undisclosed, and LLYC has handled their communication strategy since last summer.
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10. Government Aims for Overhaul of Fixed Internet and 5G Coverage, with Brussels Offering €865 Million in Support
The Portuguese government aims to enhance the country’s connectivity through the requalification of fixed internet and 5G coverage. The 2025 State Budget proposal emphasizes reducing regional disparities and boosting economic development in the interior, with the European Commission offering €865 million through the Connecting Europe Facility (CEF Digital) to finance digital connectivity projects across the EU. However, despite intentions for “technical and financial cooperation,” no specific funds or measures have been allocated by the government toward achieving these goals, and the international tender for fiber optics has still not been launched.
The proposal indicates that the Ministry of Territorial Cohesion intends to promote economic development and improve living conditions through decentralizing competencies from the Central to Local Administration. The government emphasizes the importance of local authorities in public policies and aims to support significant regional projects, including high-speed internet and 5G networks, while addressing the needs of low-density territories. There is a project in progress to extend internet access to areas lacking connectivity, referred to as “white areas,” with €350 million earmarked for this initiative.
Despite previous announcements about covering 400,000 homes in the interior with broadband, the tender has yet to be issued, leaving many areas without high-speed internet. The European Commission continues to seek large-scale connectivity projects, aiming for a Gigabit Society by 2030. As of the last call, Portugal received significant funding for a new system of underwater cables linking the mainland to the Azores and Madeira, demonstrating the ongoing efforts to improve national connectivity.
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