What, why, and how are Americans being drawn to Portugal?
With their upcoming trip to San Francisco and Miami next week, Michael Maxwell of EQTY Capital, Melanie Guerra of Stone Capital as well as Tomás Teixeira of CCA Law Firm, share theirs views on what, why and how Americans are being drawn to Portugal:
Michael Maxwell (Head of Business Development at EQTY Capital): This will be my second visit to America in the last month, and I plan on returning in June. Americans prefer the fund category over other qualifying options for Golden Visa applications. US investors are more accustomed to investing in securities, thanks to the country's long history of public trading and large number of accredited investors. They value CMVM-accredited and professionally managed funds for their regulated nature as well as their superior tax efficiency when compared to direct Real Estate investment.
I was recently interviewed by the Washington Times on this topic, showing that Americans, East to West Coast, have realized the potential of Portugal and the quality it offers. Interestingly, what is drawing the crowd are elements that Portugal has never lacked. Perhaps the biggest change in recent years is the marketing of the Portugal "brand". Beyond a wonderful climate and natural beauty, it is a warmly welcoming country where one can enjoy the simple things in life in a cultured, safe, diverse, affordable, and stable environment.
Melanie Guerra (Commercial Director at Stone Capital): The rise of the Portuguese Real Estate market has been well documented in the last 5 to 8 years and has gone hand in hand with a general global spotlight on Portugal as a place to live, work and play. The impact this is having on developing Portugal into a bit of a mini–San Francisco tech hub is particularly exciting and draws in digital nomads who compliment an already talented workforce. Thus, it is not surprising that international or particularly American start-ups are establishing themselves here, along with the likes of Web Summit. The Americans I speak with appreciate the opportunity Portugal presents as they chase the Portuguese dream.
Tomás Assis Teixeira (Partner at CCA Law Firm): From discussions I have had with American clients, while many of the attributes listed previously are mentioned, one that has been highlighted with regularity recently is access to a world-class and affordable health care system. This is obviously an impact of the last couple of years living in a COVID reality, which accelerated the flow of people in search of a place like Portugal to call home. Melanie touched on digital nomads, but equally, future retirees see Portugal as an exciting option. Whether through D7 or Golden Visa, Americans certainly keep us busy, and it has been a pleasure to welcome them here. Travel & Leisure last year placed Portugal in top place as the location for American ex-pats to live and work, and other jurisdictions are likely to share this view.