Spain vs Portugal - Best Country to Live and Work? (Cost of Living, Residence Permit, Taxes)

Portugal vs Spain: in this video we will compare Spain versus Portugal to determine what is the best place to travel, live and retire.


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00:50 Intro


-Iberian Peninsula
-Spain much larger in territory and pop
-Spain wealthier
-Both rely heavily in the tourism industry

01:49 Job Market

-Salaries are higher in Spain
-Unemployment is higher in Spain
-Probably easier to get a job in Portugal as a foreigner (services)
-Madrid and Barcelona have more international companies

02:51 Cost of Living

-Varies greatly depending on the city
-Groceries cost pretty much the same
-Services are somewhat more expensive in Spain
-Lisbon is more expensive in terms of affordability
-Smaller cities and towns are considerably cheaper

03:49 Real Estate

-Lisbon just slightly cheaper than Barcelona and Madrid (how much?)
-Lisbon significantly more expensive than smaller cities in Spain
-Porto is comparable to mid size cities in Spain
-Rental yields are about 4-6%
-Cheaper in the countryside, Spain has more interesting options on the coast.

04:42 Visa and Residence Permits

-Portugal has a significant advantage
-Retirees can move to both countries, Spain requirements are more strict (funds)
-Good option for freelancers and remote works (non lucrative visa in Spain)
-If you find a job in Portugal you can easily update your status, in Spain more complicated

06:05 Taxes

-Both countries are comparable, personal progressive tax rates
-Corporate taxes are also quite similar
-High as in most Western European countries
-Portugal has the Non Habitual Resident program, which can be a great option to pay less taxes, but the advantages are decreasing over the years and not all types of income are exempt from taxes.

06:33 Weather and Climate

Just mainland considered in this comparison.
Spain has a varied climate. Oceanic in the North, continental, Arid, Mediterranean
Portugal broadly Mediterranean climate
Decent hours of sunlight
Mild winters

07:33 Infrastructure

It is difficult to compare these 2 countries in terms of infrastructure, since Spain is several times bigger
-both countries high speed trains and direct flights
-some regions are under served

08:19 Entertainment

-Both countries are a great option in terms of entertainment
-Beaches, nightlife and eating out are highlights
-Entertainment in Spain is significantly more expensive in Spain, especially dining out

08:55 Language and final considerations

-Spanish has a simpler grammar and pronunciation than Portuguese
-Both are romance language and highly similar