Why Portugal is a great country for digital nomads

14 June 2021 5400 Views

The Covid-19 pandemic sparked a global trend of remote working and companies realising that work can now be where your laptop is, instead of where your office is.

Digital nomads embrace this freedom to work anywhere in the world, and a country which is perfect for digital nomads looking for their next location is Portugal.

What does Portugal have to offer digital nomads?

With warm temperatures, award winning beaches, famed food and wine and a low cost of living, it’s not surprising that digital nomads flock to Portugal. InsureMyTrip placed Portugal in its top 5 of best destinations for digital nomads, and the country is only one of three which doesn’t limit a worker’s stay on a remote working visa and allows for an indefinite stay as long as certain requirements are adhered to.

One of the most important things a digital nomad will need to sort out is where they are staying and in Portugal, you have a choice of villas, beach houses, townhouses and apartments. Multi-award-winning real estate agency, Ideal Homes International, is based in Portugal and can help digital nomads find their new accommodation.

Portugal also boasts many attractive co-working spots and has a strong community of remote workers. Liberdade 229 is a cosy and global co-working space located in Lisbon, Portugal’s capital.

At the heart of being a digital nomad is being connected to the rest of the world and Portugal has the seventeenth fastest internet speed in the world, meaning remote work can be carried out smoothly.

The cost of living in Portugal is also relatively low. A meal for two at an average restaurant will only set you back 25 euros (around £21) and renting an apartment in Lisbon will cost around 750 euros (approximately £644).

Why should investors and landlords invest in Portugal?

With this extra demand in play, Portugal can also be a worthwhile investment for investors and landlords. Portugal’s Golden Visa scheme, launched in 2012 in an effort to help the Portuguese economy bounce back from its financial crisis, could prove useful for investors.

The scheme became available to British citizens in January 2021, once the Brexit transition period had ended. The scheme works by offering investors a residency permit in Portugal when you make an investment of €500,000 (or €350,000 reduced option) in real estate in Portugal. The Golden Visa can be renewed every two years as long as the applicant spends two weeks in Portugal every two years.

As of now, investors can invest in tourist hotspots such as Porto, Lisbon and the Algarve, however there is a rule change coming in on January 1 2022, impacting where property investments can be made. It’s advisable to act quickly and get your Golden Visa application in before December 31 2021, if you are looking to invest in the Algarve, Porto and Lisbon.

Golden Visas are ideal for people who don’t wish to live permanently in Portugal and applicants don’t have to be a tax resident.

You can read more about the upcoming changes to the Golden Visa here. You can also contact Ideal Homes International for assistance in obtaining a Golden Visa. We have already helped over 100 clients secure the visa since the scheme started.