The law firm PLMJ is primarily aimed at foreign investors by serving as a gateway to Portugal. We met Luís Pais Antunes, former Secretary of State for Social Security and Labor and current managing partner at PLMJ.
How is the economic recovery being supported?
The strength of this recovery depends mainly on foreign investors and therefore the European landscape, the evolution of international trade and the political stability of the country. Any important movement makes a difference right away. Portugal is fashionable; everyone is talking about it. But fashion is changing fast. So we have to create the conditions to attract investment and keep it.
What are the main incentives to invest in Portugal?
Portugal offers several types of incentives such as the non-habitual residence status, which is well known, and the refund of the property transfer tax for individuals. There are also more specific tax benefits, especially for urban renewal, with a reduced VAT rate of 6%. Finally, there are incentives for more institutional investors.
What do you think are the most promising sectors?
I am thinking of technological innovation. Solar panels, renewable energies, agriculture and aviation are sectors supported by fiscal and financial incentives. The conditions for organic farming and fish farms are, for example, fantastic in Portugal.