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Why Portugal Is The Top Choice For Expats And Investors: TISRI And Golden Visa Explained

Portugal has rapidly emerged as one of the most attractive destinations for expats, investors, and high-net-worth individuals seeking favorable tax treatment and European Union (EU) residency. With stunning landscapes, a high quality of life, and forward-thinking fiscal policies, Portugal combines lifestyle and strategy like few other nations.

Whether you’re considering relocation to Portugal or simply exploring EU residency options, two programs standout:

The Tax Incentive Scheme for Scientific Research and Innovation (TISRI, or NHR 2.0), which provides substantial tax reductions for individuals who establish tax residency.
The Golden Visa, a residency-by-investment scheme that grants Portuguese legal residency without the requirement of full-time relocation or tax residency.

TISRI: A Long-Term Tax Incentive for Professionals and Investors

The TISRI regime is specifically designed to attract highly skilled professionals, executives, and business leaders who contribute to Portugal’s economic growth. It provides long-term tax benefits for those who relocate and establish Portuguese tax residency.

Key advantages of TISRI include:

A flat 20% personal income tax rate on Portuguese-sourced employment and self-employment income arising from qualifying professions, significantly lower than the standard progressive income tax rates of up to 48%.
Full exemption from Portuguese taxation on most foreign-sourced income, including capital gains, dividends, interest, and rental income, provided the income does not originate from a jurisdiction classified as a tax haven.
A 10-year duration, ensuring long-term tax efficiency.

The Golden Visa: Residency Through Investment with Minimal Tax Obligations

For individuals who seek Portuguese residency without the requirement of full-time relocation or tax residency, Portugal’s Golden Visa program offers an efficient and flexible solution. Introduced in 2012, the Golden Visa grants a Portuguese residence permit to non-EU investors who make a qualifying investment in Portugal.

Key benefits of the Golden Visa include:

Minimal physical presence requirement—only 14 days every two years, making it ideal for individuals with international business interests.
Pathway to Portuguese citizenship after five years, granting full EU residency rights and unrestricted Schengen travel.
No global taxation for individuals who do not establish Portuguese tax residency.

This program is perfect for non-EU nationals seeking visa-free access to the Schengen Area, and a backdoor to EU citizenship without high tax exposure.

Find out more about investment routes for the Golden Visa in Portugal.

Portugal as a Jurisdiction for Wealth Management and Investment

Portugal’s favorable legal and tax framework makes it an attractive jurisdiction for wealth preservation, investment structuring, and international residency planning.

No wealth tax—unlike many European countries, Portugal does not impose an annual tax on net worth.
No inheritance tax for direct family members, simplifying estate planning for high-net-worth individuals.
EU market access, allowing seamless business operations and personal travel across EU member states, and simplified pathway to citizenship.
Growing innovation ecosystem and consistent investment opportunities.

TISRI vs Golden Visa: Which Is Right for You?

Feature	TISRI (NHR 2.0)	Golden Visa
Who It’s For	Professionals, executives, entrepreneurs, and investors who want to become tax residents in Portugal	Non-EU investors seeking EU residency without relocating or becoming tax residents
Tax Residency Required?	Yes, individuals must meet Portugal’s tax residency criteria	No, residency is granted without requiring tax residency
Tax Benefits	20% flat tax on qualifying Portuguese income, full exemption on most foreign income (except from tax havens)	No tax obligations in Portugal
Minimum Stay Requirement	Must reside in Portugal for at least 183 days per year or establish a habitual residence	Must stay in Portugal for at least 14 days every two years
Path to Citizenship	Possible after five years of legal residency under any Visa option (or the start of the process in the case of the Golden Visa)	Possible after five years from the start of the process, even without full-time relocation

With a stable tax regime, a well-established legal framework, and access to European residency and citizenship, Portugal remains one of the most attractive jurisdictions for international wealth management, tax efficiency, and global mobility.

Ready to make the move or invest smartly in Portugal?

Moving Abroad Checklist

Initial Considerations

Will your partner be travelling with you?

If so, what will they be giving up in your present home and will they be able to continue with their career in your new home? You will need to check whether a separate visa is required for your partner to work or if your visa gives that right. If they are unable to work you will need to decide on the effect on your finances and what alternatives are available to give a fulfilling life (home business, training, voluntary work).

Are you taking family with you?

Moving with family raises many exciting opportunities, but also can create challenges. The HSBC Expat Explorer survey indicates that expat kids can take six months to settle in to their new country (see article). Getting young or even older children to prepare to move and leave their friends and family behind can be a challenge and should be thought through.

The options for education is another area that needs to be thought through.

Moving your child to a new country with a different education system can be a great opportunity to broaden their experience, but if they are close to key exams the timing can make this inadvisable. If you do take your family with you, it is important to decide between joining the local school system or choosing an international school.

Where will you be living?

Whether you will be living in a house or apartment, furnished or unfurnished, these decisions will affect what you need to take with you. The time you are planning to live overseas will also affect whether you should leave your property at home empty, rent it out or sell it. See the article Sell, Store or Ship.