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The European Systemic Risk Board (ESRB) has recently issued its assessment on the vulnerabilities of the residential property sector in Portugal. The main vulnerabilities pointed out to the national market are: - overvalued house prices, which have been rising since 2016; - high household indebtedness, although it is falling; - low demand in new home loans regarding interest rate spreads. The ESRB considers that the policy applied by the Bank of Portugal to the sector has been adequate and sufficient and that the risk to the financial system is medium. The main vulnerabilities do not stem from credit for housing, despite the fact that mortgage credit in Portugal is one of the largest slices of bank credit portfolios among European countries.  The Bank of Portugal's 2018 recommendations, which established criteria to be met by banks when granting credit regarding loan to collateral ratios and borrower debt, have had an effect, according to the ESRB. However, by the end of 2022, the


The registration certificate is mandatory for EU citizens intending to stay in Portugal for longer than 3 months. To make your registration in Portugal, you only have to apply for a Certificate of Registration of Citizen. Besides EU citizens, the Certificate of Registration of Citizen of the European Union could be requested by any citizen of Iceland, Liechtenstein, Norway, Andorra and Switzerland. Application After 3 months of arrival in Portugal, citizens will be required to apply for a certificate within the next 30 days. The request can be made at the City Council of the residence, in person, by completing a compliance statement and valid identification document such as a passport. Certificates are issued for a maximum of 5 years from the issue date. The application can also be made by a lawyer, as long as he has the necessary powers to act on your behalf. [If you need any help contact us at ]. Renewal You may only apply for renewal of the certificate upon expir


  According to the Portuguese National Statistics Institute (INE), between January and December of last year, the average regular gross remuneration per worker – which excludes holiday and Christmas allowances – rose 3.1% (1,106 euros). The average gross base remuneration grew 2% (1,039 euros). The total remuneration varied between 885 euros (in companies with 1 to 4 employees) and 1,686 euros (in companies with 250 to 499 employees).  In companies with 500 workers or more, the total remuneration was slightly lower: 1,634 Euros.  The average remuneration per employee in companies with 50 to 99 employees (1,351 euros) was the closest to the total for the economy (1,361 euros). The total remuneration of the Public Administration increased by 0.7% in 2021 (from 1,898 euros in 2020 to 1,911 euros in 2021.  INE states that this increase “was lower than that recorded in the previous year (2.7%) and that observed in the private sector of the economy (4.3% – from 1,193 to 1,245 euros)”.


"NIF" stands for Número de Identificação Fiscal Tax (tax identification number). It is a 9-digit unique personal identifier used for tax purposes. This tax number is needed for most relevant legal acts carried out in Portugal, such as the opening of a bank account or the purchase of a property. You can ask for a NIF in person at any Portuguese tax office, or other designated offices. The number itself is issued on the spot, totally free of charge. However, there may be fees involved if you ask for an official card with the NIF or if you need a fiscal representative. You need a representative when you are not a Portugal or European Union resident. The tax representative is responsible for complying with the tax obligations of the represented person and can be a natural person or a company.  Anyone with a fixed residence in Portugal who accepts the responsibility is eligible, regardless of nationality, so you could ask a friend or someone who knows you in Portugal. It is also


Golden Visa is a type of residence permit that allows entry and staying in Portuguese territory without the need for a residence visa. Foreign citizens, who intend to invest in Portugal or carry out an investment activity (personally or through a company incorporated in Portugal), can apply for Golden Visa. As for investment, can be made in any of the following possibilities: Capital transfer in the amount of 1 million euros or more; The creation of at least 10 jobs (no minimum investment amount is required), in any business area; The acquisition of real estate with a value equal to or greater than 500,000 euros; Acquisition of real estate, whose construction has been completed at least 30 years ago or located in an urban rehabilitation area and carrying out a renovation in the total amount equal to or greater than 350,000 euros; Capital transfer in the amount equal to or greater than 350,000 euros, which is applied in research activities carried out by public or private scientific res


The non-habitual tax resident regime is a more favourable tax status, applicable to foreigners who became residents for tax purposes in Portugal. Among the tax advantages associated with this regime is the possibility of a more favourable tax rate of income from work (20%) and exemption, under certain conditions, from paying in Portugal taxes related of income from abroad (e.g. pensions). In the latter case, however, most of the income from capital gains and some capital income are excluded from the exemption. These advantages are granted for a period of 10 years, non-renewable, and benefit only citizens who have professions considered by the law as having added value, such as the professions associated with cultural activities, engineering, medicine, new technologies and management. In order to benefit from this regime, it is necessary to reside in Portugal 183 days a year, to have a tax residence here and to register as such until March 31 of the following year. This regime w


According to a monthly report on the employment market released by the Institute of Employment and Professional Training (IEFP), the total number of unemployed people was lower than the number registered in the same month of 2017 (-85,169 or -17.5%), and higher compared to the previous month (788 or 0.2%). The Government expects the country’s Gross Domestic Product (GDP) to grow by 2.2% next year, the unemployment rate to hit 6.3% and public debt to drop to 118.5% of GDP, while promising civil servants higher pay and raising social benefits. Portugal has seen strong recovery since the 2011-2014 financial crisis, with the economy supported by foreign investment, tourism and rising exports.