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Why are the world's ultra-billionaires choosing Portugal?

2026-07-08 23:27:18Biznes SHKRUAR NGA REDAKSIA VOX
Why are the world's ultra-billionaires choosing Portugal?

In recent years, Portugal has seen a significant increase in the number of ultra-wealthy residents, driven by real estate investments, international capital flows and the appeal of the Portuguese lifestyle.

Today, Portugal has 725 more ultra-wealthy residents than five years ago. But who are these people? Where does their wealth come from? And why are they choosing Portugal as a place to live and invest?

According to a recent study by British firm Knight Frank, the number of ultra-wealthy individuals – people with a net worth of at least 25 million euros – has increased in Portugal by almost 50 percent in the last five years, Euronews reports.

In 2021, Portugal had 1,462 ultra-wealthy individuals. By 2026, that number could reach 2,187, according to estimates.

It is known that a significant portion of these people are foreigners who have chosen Portugal to live or invest, attracted by the quality of life, climate, safety and lifestyle.

Portugal initially became attractive thanks to tax incentives, such as “golden visas” and the non-resident regime (NHR).

The NHR program, introduced in 2009, offered tax breaks for ten years to attract qualified foreign professionals and retirees. Today, it only applies to certain scientific and highly skilled professions.

Regarding “golden visas,” purchasing real estate is no longer an acceptable way to obtain a residence permit through the program.

According to a study by Knight Frank, these changes may reduce international demand, but will not completely stop it.

The ultra-rich are not only foreigners, but also many Portuguese, especially business owners.

People with this level of wealth are more concerned about asset protection, tax planning, and inheritance.

Private bank representatives report that there has been a strong increase in wealth since the pandemic, particularly through the sale of companies and the inflow of private capital.

Private equity funds are increasingly investing in Portuguese companies, often taking stakes to increase their value.

As a result, many entrepreneurs are selling their companies or parts of them to expand their business or enter new markets.

At the same time, owners of older companies are increasingly deciding to sell their businesses, which has created a new generation of wealthy people in the last five years.

An additional growth factor is the arrival of digital nomads after the pandemic, as well as foreign investors in real estate and tourism.

Portugal has become particularly attractive to luxury real estate buyers, especially in Lisbon, Porto, Cascais and the Algarve.

According to experts, an ever-increasing number of foreign buyers see Portugal not only as a place to live, but also as a long-term investment.

Although tax breaks have been reduced, Portugal remains one of the most attractive European destinations for wealthy investors and the luxury real estate market.


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