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European Journal

Portugal: Summer, sun and tax savings

Beautiful beaches, sunshine, and unspoiled nature draw holiday-makers to the Algarve. Now foreign pensioners will have even more reason spend their retirement years there.

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A government-sponsored initiative aims to encourage foreign citizens to buy a house and live in Portugal. Called "Living in Portugal”, it’s especially attractive for pensioners from elsewhere in Europe. Foreigners who move to Portugal and live there at least 183 days during the year pay no taxes in Portugal on foreign income. The government hopes the initiative will help support the country’s ailing economy.