News & Insights

Portugal set to receive record amount of foreign investment in 2022

As Portugal has been creeping up the ranks to become the most popular destination in Europe for US expats, it has also been attracting a record amount of foreign investment, with the US leading the way as the main contributor.

2021 was a fantastic year for Portugal in terms of investment; there were over 200 projects initiated that were associated with Foreign Direct Investment (FDI), with €2.7 billion being generated by the Agency for Investment and Foreign Trade of Portugal (AICEP) from contracted investment, double the amount generated in 2019. Eurico Brilhante Dias,  Deputy of the Assembly of the Portuguese Republic, asserted at the Cabinet meeting in Lisbon that these contracts would result in the creation of 7,274 new jobs and the maintenance of 41,538 jobs.

This investment has meant that Portugal has now climbed to 8th position in the ranking for FDI project destinations, compared to its 2021 ranking of 10th place.

America will remain as Portugal’s main investor in 2022, as it holds a 15% share of Portugal’s FDI projects (30 projects in total). However, Germany has also increased its investment in Portugal and is backing 30 projects in the country, doubling their involvement from 2021. France, the UK and Spain make up the rest of the top five foreign investors in 2022.

EY consultancy predicts that in the next 12 months, 62% of investors plan to initiate or increase operations in Portugal, forecasting a record year for foreign investment.

This communication is for informational purposes only, based on our understanding of current legislation and practices which is subject to change and should not be construed as, investment advice, investment recommendations or investment research. You should seek advice form a professional adviser before embarking on any financial planning activity. Whilst every effort has been made to ensure the information contained in this communication is correct, we are not responsible for any errors or omissions.

Other News

RTC Deadline Looms

Clocks and TimepiecesTime is fast approaching for UK taxpayers and expats with UK tax obligations to ensure they meet the 30 September 2018 deadline laid down by HMRC for the declaration of all UK tax liabilities on overseas income and assets that fall under the auspices of the Requirement to Correct (RTC) legislation, Finance (No 2) Act 2017.

Non-compliance, even if it is inadvertent, has the potential to be met with uncompromising penalties, so anyone who is any doubt about their tax obligations regarding offshore investments – if you have expat regular savings or wealth management concerns outside of the UK – should contact their financial adviser immediately as a matter of urgency.

The penalty for most breaches is 200% of the tax that has been avoided. However this may be reduced to 100% depending on the taxpayer’s perceived level of compliance. That said, the minimum is 150% in cases where disclosure has been prompted by HMRC. Larger non-disclosures may be punished by further penalty of 10%

Read More

Misconceptions about Pensions

Pensions might not be the most exciting or glamorous aspect of the financial world, but their importance cannot be overstated. Planning ahead and ensuring you have sufficient pension funds for retirement will not only provide peace of mind in the run up to retirement, but also ensure that you are able to live comfortably and […]

Read More

Select your country

Please select your country of residence so we can provide you with the most relevant information:

You are currently viewing the Blacktower Financial Management EU website.

You may be looking for the Blacktower United States website.

Blacktower United States > X Stay on this site

Or choose your country.