Portugal is DEAD! Here are 3 Better Options

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Summary of the video:

Portugal has made changes to its tax laws, including getting rid of the Golden Visa program and the NHR tax exemption. This means that individuals moving to Portugal will now have to pay higher taxes, which will particularly affect retirees and crypto investors. Wealthy Expat suggests three alternative options for individuals looking to pay less taxes in Europe and obtain a second passport. These options include Italy, which offers a lump sum tax program for residency; Spain, which has the Beckham Law providing tax exemptions for foreign income; and Malta, which offers low taxes and permanent residency through a donation.
Wealthy Expat also mentions the Greek Golden Visa program as an honorable mention.

DISCLAIMER: This video is not tax and/or financial advice. Any information or advice I give is purely based on my own experience and research. I am not a tax professional and/or lawyer and/or accountant so I am not liable for any steps you take to lower your taxes. I'm not a financial advisor nor do I pretend to be. Always do your own research.

[lw]

Do you think a multi-millionaire is watching your video wondering where to live when they can simply visit for a couple weeks or have their accountant do tax research? Why not address the average blue collar level guy that may want to relocate now or for retirement?

[martaaron]

Portugal is alive and well thanks. Perhaps it doesn't need more rich people putting up the housing prices and dodging paying what they should do in tax

[oldmanonamission]

Every country will become the same. No government cares about the working class no matter what country you live in.

[jamesv]

Portugal should take care of Portuguese and not freeloading foreigners.

[Eurotravelagency]

as a portugese i’m sad our country doesn’t care about the residents of their own

[ajdrums]

I moved to Portugal South Coast. It's run down, always windy, water always cold even in summer, expensive af rental for what you get. I moved back to Bodrum Turkiye where the water is still, warm, service is better and it's far more beautiful. Zero tax on crypto in Turkiye too.

[nothingness....]

In portugal people from India, Bangladesh and Pakistan buy Portuguese passport and driving license with money. Then they go to Switzerland. How it’s possible for a European country let this kind of things to happened! Danger in road!!!

[DaSilvaEmmanuel]

Came to Portugal from Austrália. Best decision ever.

[stefaniekumaran]

"Go to Lampedusa to hang out with African migrants" is the most honest of all blogger statements!!! :-)

[nunoborgesdias]

Portugal is not dead, is very much alive! very poor statement to start your video. Portuguese government is entitled to make the changes they want and people can always look for other destinations! Tax advantages have changed, however moving to a country to live is not only about that. Some countries you've shared where taxes are more reasonable can have much more serious issues than golden visas. By the way you can be very irritating the way you reply to comments. You have a channel and you should be promoting a healthy communication/opinion from the community.

[sophhh]

I have been deeply in love with Portugal since 2015, a time that feels like a different era in every sense. I lived there from 2019 until the end of 2022, having visited the country occasionally before that. However, I recently moved out of Portugal because I could no longer cope with the changes.
The rental situation, competition, and the mood/vibe of the locals have all undergone significant changes. It's evident that the country is no longer as authentic or heartwarming as it once was. I agree with the commentators who feel that the government hasn't prioritized the needs of average people, both locals and foreigners. I hope that the situation will gradually improve, but for now, it poses daily challenges.
Despite this, it's still possible to visit Portugal from time to time and reconnect with friends who still live there (although many have also left). This allows me to avoid being caught up in the stress of everyday life.
I am currently in research mode, trying to figure out where to go and settle next. I wish everyone, both the locals of Portugal and foreigners, success in finding their way and living in a society based on sharing, caring, and love. It feels like everything is falling apart in the world, with issues such as mental health, economic situations, and conflicts taking their toll. However, we need to stay strong and keep our hearts open, no matter what challenges lie ahead.

[rogerdiogo]

Portugal, not boring, there's never a dull moment, slow... definitely yes!

[Nicole-kmbd]

This isn’t true. If you have a pension, you aren’t paying 40-50% in taxes. There’s a treaty between the US and most EU countries that you will pay the taxes from the country you’ve earned the pay from, that’s it. There’s no double taxing. You will pay the 40-50% on any income you’ve made in Portugal (which makes sense). For someone who’s making videos about the economic impacts of countries, at least do your research.

[teddydavis]

Portugal was desperate to get people in the country because the youth are leaving. It's definitely not the paradise that the YouTubers make it out to be.
I feel sorry for anyone who has sold everything to move there.

[mississippiapple]

I feel like these channels will just end up being "where to run to next " once after the govt takes away privileges

[leafar]

As a Portuguese resident I find this golden visa Fuc*ed up, is one of the reasons we have a big crises in real estate, I love tourists, but they need to STAY tourists and not buy whatever they want, first of all the locals=natives and then the not so important rest.

[dieselever]

As a Portuguese, this is happening because our salaries are low compared to the rich that come here, then all the prices go up. Essentially, we're heading in a way where we'll end up with central Europe prices but 800-1000€ average wage. It's already enough that our employers want to go almost always with minimum wage for everyone if they can. Same with poor immigrants that accept underpaid jobs and prevent us from boycotting them to force the payments to raise.

Don't come here, it ain't worth it, even some of us are leaving for better opportunities. Spain is miles better, better payments and cheaper almost everything, including gas

[dadipom]

man i'm Italian living in Spain since years. Escape from nothing works.... hospital, train, metro ecc.

[judithburgess]

For god's sake Stop encouraging greedy people from fleecing European countries and thus depriving the indigenous.

I don't hear you talking about learning the language, mixing with the locals, just money mon y money greed greed greed

[BobSmith-brhk]

Greece has a flat tax program 100k/year just like Italy. Foreign sourced income not taxed or even reportable