Last year, fewer British holidaymakers chose Portugal as a tourist destination, less 111,667 than in 2017. Despite the drop, the overall number of foreign tourists grew by 0.4% last year, enough to reach a new record high at 12.76 million. This increase was mostly due to a 20% jump in American tourism, accounting for an additional 135,000 US visitors in 2018.
The Highly Qualified Professional Visa in Portugal targets foreigners who are not nationals of the EU, EEA and Switzerland and who have been admitted 1) as students to higher education (principally at doctorate level), or 2) as researchers to collaborate in research recognized by the Ministry of Education and Science, or 3) as a University professor.
Despite an increase of three tenths, Portuguese taxation remained below the European average last year. In Portugal, the weight of taxes reached 40.2% of GDP and in the Euro Zone, 41.4%. France had the heaviest load (48.4%) and Ireland the lightest (23.5%).
For the second consecutive year, Portugal has been recognised as the top tourist destination by the World Travel Awards. At the same time, the Conrad was voted the best luxury leisure resort. The prize is the result of balloting by the general public, but is made principally by 200 thousand tourist industry professionals representing from 160 countries.
Portugal left behind competitors such as South Africa, Brazil, USA, India, Indonesia, Jamaica, Maldives, Sri Lanka, Malaysia, Vietnam, New Zealand as well as neighbouring Spain with 55 nominations and 16 first place finishes, a national record.
Portugal received 128,000 fewer foreign visitors this summer than in the same period last year, a drop largely due to fewer holidaymakers from the United Kingdom. Between June and September, 5.5 million travellers came to Portugal, down 2.2% when compared to the same period in 2017. However, revenues rose to 1.7 billion euros during the period, up 4.4%.
If you meet any of the criteria to be considered resident for tax purposes in Portugal, you arew required to register with the tax authorities and submit annual tax declarations. Tax residents are liable to Portuguese taxation on worldwide income. When a taxpayer fails to report income that is the object of information sharing from any number of diverse sources, Finanças moves to coercive settlement of the assessment due. Continue reading
Freelancers will keep their current level of Social Security deductions until the end of 2018. In the past, October has served as the basis for updating sole traders’ contributions for the following 12 months. With the new SS regime that begins in January 2019, deduction brackets have been eliminated.
DECO warns that the new rules for Local Lodging require owners to have an insurance that is not currently available in Portugal. According to the Portuguese Consumer Protection Association, “there is no multi-risk liability insurance, which shows a serious ignorance on the part of lawmakers.” “In addition, the law is not clear about any damages to be covered.”
795 out of 806 tourists surveyed (98%) said that they feel safe in Portugal. A survey conducted by the “Universidade Nova de Lisboa” (New University of Lisbon) revealed that only “natural beauty and heritage” have more relevance than security when choosing to visit Portugal.
In the first six months of 2018, holidaymakers in Portugal spent almost 7 billion euros, corresponding to 38 million euros per day. The figures represent an increase of 14% as compared to the same period last year. In the first half of 2018, Portugal received 9.6 million visitors. British, German and French continue to be the primary national groups to visit the country.