MINIMUM WAGE INCREASES

The Portuguese minimum wage increases from €565.80 to €589.16 (4%), to take effect from 1 October. The minimum wages in Portugal remained unchanged since 2010. The average monthly wage in Portugal in 2013 was €984.

PORTUGAL, A PEACEFUL COUNTRY

In the recent Global Peace Index 2016, Portugal is ranked as the fifth most peaceful country in the world, in a table that organises 163 countries.

The index is based on 23 quantitative and qualitative indicators that measure the level of peace in each country. The indicators can be grouped into three general themes: level of security and protection of society; the number of international conflicts and; the degree of militarization.

Among these factors, Portugal scored in militarization (1.4 points out of 5), society and security (1.6 out of 5) and internal conflicts (1.1 out of 5). Portugal also scored in other factors such as the perception of crime, the level of violent demonstrations and crimes, the impact of terrorism or the number of displaced persons.

CTA 2018. PORTUGAL IS ONE OF THE 13 WORLD CHAMPIONS OF INNOVATION

In the world's largest technology fair, there are no doubts: Portugal is among the 13 international champions of innovation, alongside countries like Finland, United Kingdom, Sweden, Singapore, Canada, Czech Republic, Austria, Denmark and New Zealand.

Among the 12 items evaluated, Portugal excelled in four:
- freedom (it is among the countries with more political and individual freedom);
- drones (it is among the countries where the best technology for drones is born);
- short-term rentals (countries with the best conditions to rent a house for a short time) and;
- environment (it is among the countries with the best water and air quality).

International Innovation Scorecard, the Consumer Technology Association (CTA) identifies the critical areas of national policy that spur innovation, and reveals the areas in which countries may be stunting their own growth and preventing global innovation from blossoming to its full potential.

WHO HAS TO SIGN THE CONTRACT?

Normally the administration of a company is entrusted to a manager (gerente) or administrator (administrador). By its turn, the administration is entrusted with management powers and powers of representation which are contained in the articles of association. So, it is always advised to make sure the contract is signed by a manager or administrator.

However, the company may still be liable to third parties even if the contract is not signed by a manager or an administrator, but, in this case, the proof is more difficult to do and witness are needed.

WHAT IS THE PORTUGUESE NON-HABITUAL TAX RESIDENCE REGIME?

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 was crea…

PORTUGAL IS ONE OF THE BEST PLACES IN THE WORLD TO INVEST IN REAL ESTATE

Last year, the real estate held by investors in Portugal provided a return of 12.1%, revealed a study form MSCI (Real Estate Investment Index IPD Portugal). This is one of the best performances recorded by the market in the last sixteen years (the highest point was 13.7% in 2002) and also in the global context. According to the national index for 2015, the total return on investment this year is the result of a return of 5.9% income and a 5.8% capital appreciation. Good news for the beginning of the year, after a 2015 history where investment has reached levels never seen before in Portugal with close to EUR 2,000 million transacted.

Business in Portugal

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