Financial advice in Portugal

A five-star hotel with 197 rooms is set to be built as part of the Algarve's new Verdelago Resort, including six secluded suites in the middle of the pine forest (Forest Suites).

The Algarve, Portugal's southernmost region, is renowned for its stunning coastline, sunny weather, and vibrant culture. But how does the cost of living here stack up?

The routines of our daily lives make us deal with different acronyms, especially in the economic and financial sector. This is something that's even more challenging for expats and foreigners living in Portugal, as these concepts can be completely different compared to one's home country.

Portugal provides numerous advantages to its residents, including a pleasant Mediterranean climate, low crime rates and beautiful landscapes. But is it expensive to live in Portugal? How much money do you need to live comfortably in Portugal?

What is IMI tax in Portugal? IMI stands for "Imposto Municipal sobre Imóveis", which translates to Municipal Property Tax in English. It is a property tax levied on real estate properties in Portugal.

In Portugal, average interest rates on new home loans have been stabilising at 4.2% since June. And in the euro area, average interest rates continue to rise, having reached 4% in November for the first time since 2009.

The tax exemptions granted to foreign citizens who come to live, invest or work in Portugal have made many people choose the country to live in.

The new digital counter is designed to improve contact with Social Security and allows citizens and companies to interact interactively with Social Security.

The government has decided to extend, until 31 December 2024, "the temporary suspension of the early repayment fee for variable-rate housing loan contracts or those that, having been contracted at a mixed interest rate, are in a variable-rate period or which, having been contracted at a mixed intere

Most home loans in Portugal have a variable rate, which is why interest and instalments have been updated according to the Euribor term (3, 6 or 12 months). And they keep getting bigger.

The tourism sector in Portugal seems to be responding well to the high rate of inflation that has been felt in recent times in Portugal and in Europe, although it is now slowing down.

Among the most favourable cities for the development of startups in 2023, Lisbon occupies the 62nd position worldwide. And it is not the only Portuguese city in this global ranking.

Disclaimer: the above image belongs to Global Residence Index. In the last three years, thousands of US citizens have moved to Portugal, attracted by cheap real estate, tax advantages, public health and education systems, security and the relaxed lifestyle, at a time when the possibility of re

Portugal is the most vulnerable country in the so-called group of the world's most developed nations to rising interest rates and the discontinuation of cheap money programmes by the European Central Bank (ECB).

In December 2022, nine out of ten Portuguese households had their mortgages indexed to the variable Euribor rate, which is rising month by month as the European Central Bank (ECB) raises the key interest rate (currently at 3.75%).

What is the inflation rate in Portugal 2023? And what is the long term inflation forecast for Portugal?

Parents who choose to work part-time will be able to receive state support until the baby is 12 months old. Portugal's new employment law, which came into force on 1st May 2023, allows parents to take an additional 180 days of parental leave combined with part-time work.

Portuguese banks will soon be more limited in charging fees for various banking operations. A bill approved by Parliament on Friday 14th April puts an end to the charging of abusive fees to all customers who have mortgage loans or loans for other purposes.

Yet another voice has joined the chorus of criticism against the end of the golden visa programme in Portugal, which is included in the "Mais Habitação" (More Housing) package announced by the Government.

The Portuguese Government has approved a draft law to reduce VAT on food products, which will now be submitted to Parliament for consideration.

The residential and tourist resort of Vilamoura, in the Algarve, has decided to create a Renewable Energy Community (REC) with 60,000 m2 of photovoltaic panels by 2035, which will provide electricity to 15,000 families, becoming a pioneer in the application of recent legislation. "The aim is to be

In 2021, the Algarve was the second region in Europe with the greatest loss of wealth compared to 2019, that is, compared to the pre-pandemic period. Only the Balearic Islands, in Spain, had a greater fall in real GDP during the two periods under review.