The report, by the Portuguese Chamber of Commerce in the UK, states: “Portugal’s 2021 census, currently underway, looks likely to show a large increase in this number, given the twin pressures of Brexit and the pandemic.”
In a bid to deal with what the chamber is describing as “pent up interest”, they are set to host a series of live and virtual Moving to Portugal webinars and events over the coming weeks.
By identifying the data of Britons who have already sought advice from the Chamber, they found 57 percent were looking to move within the next 12 to 24 months.
The nation’s business opportunities are one of the key draws of the country for Britons according to the Chamber’s general manager Christina Hippisley.
She said: “Every day we are receiving calls and emails from British residents just waiting to get on a plane to Portugal.
“The most common enquiries are about what residency options there are in Portugal for Brits now we are no longer part of Europe, followed by questions about how to move their businesses there and work remotely.
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Previously, some experts have suggested Portugal could overtake Spain as “the place to be” for expats.
According to expatnetwork, Portugal could be set to become more popular due to the onset of new post-Brexit requirements to gain permanent residency in Spain.
“In order to retire to countries in the EU, now that the UK is no longer a member, it is necessary first to apply for a visa,” explained an expert from expatnetwork.
“The Golden Visa requires you to invest €500,000 (approximately £433,551) in property and so is out of the reach of many British retirees.”
The NLV, meanwhile, is said to be “causing difficulty” for some British expats – particularly retirees.
“You have to demonstrate an income of €33,893 (approximately £29,388) a year for a couple and €47,451 (£41,144) for a family of four,” continued the expatnetwork expert.
“Portugal has a similar visa to Spain’s NLV, the Passive Income Visa, which has a significantly lower annual income requirement – €11,970 (approximately £10,379) for a couple and €16,658 (approximately £14,444) for a family of four).
“The visa also does not restrict you from working or setting up a business as the Spanish NLV does.”
They added: “Add to that the tax advantages and the fact that you can work in Portugal if you want to, and there is a clear case for considering retiring to Portugal instead of Spain if you only have limited income.”
Luckily, there is plenty of support for those eyeing a move to Portugal.
“If you are planning on moving to Portugal, you are following a well-trodden path, which means that there are clear processes in place for how to achieve what you need to,” commented Ms Hippisley, general manager of the Portuguese Chamber of Commerce in the UK.
This post originally appeared on Daily Express :: Travel Feed