Portugal - Editor-in-Chief

Several cities in Portugal boast magnificent tourist attractions such as castles, historical museums, parks, resorts, and mountains

Portugal grants permanent residency to foreign investors and their families when they purchase real estate or establish a company in a specific sector

There is a joint collaboration between the Council of Saudi Chambers and the Portuguese Confederation of Industries, and a joint agreement was recently signed

Portugal, or the Portuguese Republic, is located in the southwestern part of the European continent, specifically on the Iberian Peninsula, where it is bordered by the Atlantic Ocean to the west and south, and by Spain to the north and west. Its capital is Lisbon. Portugal offers several advantages in the real estate and tourism sectors, making it an attractive environment for business and investment in general.

Distinctive Geographic Location

Portugal enjoys a distinctive and strategic geographic location,which has made it an attractive destination for investment in various sectors, including tourism, and provides an appealing environment for investors and tourists from around the world.Its land area is 92,090 km², and its official currency is the euro. Among the most famous Portuguese cities are: Porto, Funchal, Setúbal, Braga, Amadora, Almada, Aqualva-Casem, Vila Nova de Gaia, Coimbra, and Setúbal. Portugal has a parliamentary republic system of government, with legislative power vested in the Portuguese Parliament; the upper house is the Portuguese Senate, and the lower house is the Portuguese Chamber of Deputies. Portugal’s economy is characterized by its strength, ranking 19th globally in terms of economic power. Its economy is based on exports and private investment, in addition to traditional products such as: clothing, footwear, wood products, beverages, textiles, and fish—Portugal is one of the world’s largest fish exporters—as well as a thriving tourism sector.

Top Tourist Attractions in Portugal

The Azores: The Azores are located in the Atlantic Ocean and consist of nine volcanic islands. São Miguel is the largest of these islands, and the archipelago is known for its hot springs and coastal towns.

Alboufeira: It is one of the most famous tourist beaches in Europe and attracts swimming, diving, and water sports enthusiasts from all over the world. Alboufira is located in southwestern Portugal and is known for its many restaurants, shopping centers, and diverse recreational activities, making it a unique tourist destination. Alboufira is famous for its many beaches with enchanting golden sands and scenic landscapes in Portugal, such as “São Rafael,” Gale and “Praia da Valésia.”

Lisbon: Lisbon, the capital of Portugal, is located along the banks of the Tagus River near the Atlantic Ocean. The city features numerous shops, colorful neighborhoods, historical landmarks, Gothic cathedrals, narrow streets, and bridges.

Cascais: A quiet coastal village known for its picturesque beaches with warm sunshine and magnificent yachts, It is also famous for its beautiful seaside resort and vibrant nightlife, as well as water sports and a distinguished group of artists who have attracted large numbers of tourists by exhibiting their works at the Guimarães Condé Museum located there.

Madeira: Madeira is known for its many castles, churches, restaurants, and historic resorts. The Sintra Mountains: The Sintra Mountains are located on the outskirts of Lisbon and are home to numerous palaces, such as the Pena Palace, and castles, such as Neuschwanstein Castle.

Porto: Porto stretches along the hills overlooking the Douro River in the northern part of Portugal.

Óbidos: Óbidos is situated on a hilltop in western Portugal, in the Centro region.

The city of Aveiro: The city of Aveiro is known for its liveliness and is nicknamed the "Rifle of Portugal" because of its beautiful canals connected by bridges.

The small town of Évora: Dating back more than two thousand years, it is located in the southern part of Portugal, specifically in the Alentejo plains.

Diverse Investment Opportunities

Many Portuguese cities offer numerous advantages across various economic, investment, and real estate sectors, as well as in construction, food, information technology, and other sectors. Portugal’s cities compete to offer benefits to foreign investors in general—and Saudi investors in particular—making them an attractive environment for a wide range of investors. Among the most prominent Portuguese cities offering investment opportunities—whether in real estate (land, apartments, villas)—are Lisbon, Porto, Aveiro, Óbidos, and Madeira,

Saudi-Portuguese Cooperation

There are areas of joint cooperation between the Council of Saudi Chambers and the Portuguese Confederation of Industries, and recently signed a joint agreement to capitalize on available investment opportunities and build strategic partnerships in various commercial sectors.

Furthermore, the Ambassador of the Republic of Portugal to the Kingdom, Manuel Carvalho, maintains regular contact with various entities in Saudi Arabia, including the Council of Saudi Chambers, with which he recently met,where the ambassador expressed his country’s desire to elevate trade and investment relations with the Kingdom to the highest levels, given the importance of the shared interests that bind the two friendly nations. He noted that his country views the Kingdom as a key and important trade partner in the region, emphasizing the need for cooperation between Saudi and Portuguese companies and highlighting his country’s significant potential, particularly in the agricultural sector, as well as promising opportunities in tourism, various energy sectors, construction, food, and information and communication technology.

The meeting also addressed the importance of implementing the recently signed cooperation agreement between the Council of Saudi Chambers and the Portuguese Confederation of Industries, as well as intensifying meetings between the business communities to capitalize on available investment opportunities, and building strategic partnerships in various commercial fields.

Special Benefits for Saudis

The Portuguese authorities offer special benefits to Saudi investors and businesspeople, granting permanent residency to Saudi investors (and their families) if they own a plot of land or a property or establish an investment company in Portugal, and within five years, they can apply for permanent residency in Europe and become eligible for citizenship. These offers from Portugal are among several presented by various European countries to Saudi investors and businesspeople, given their serious approach to investment and financial capabilities.

General Impressions:

- Portugal is experiencing a high influx of tourists, particularly from Europe

The Portuguese treat foreigners with great courtesy; foreigners are warmly welcomed at both the official and grassroots levels.

Portugal has a rich cultural history; its influence has extended to North America, and there are many countries where Portuguese is spoken.

The Portuguese authorities are committed to preserving the character of historic buildings and do not allow citizens to demolish them; they also ensure that these buildings are maintained from time to time.

Tourists and visitors should reserve a car before entering Portugal so they do not have to wait a long time for a taxi.

Most cars in Portugal run on diesel (regular diesel) because it is fuel-efficient.

There are many investors in various cities across Portugal, as Portuguese authorities allow foreigners to own real estate and register it in their name, as well as to establish a company in their name, and accordingly grant them permanent residency for themselves and their families.