The AGCP office, which supports foreign investors in establishing themselves in Portugal, has recorded a 50% increase in interest from North Americans, particularly those coming from California.
“Many are looking for a plan B, whether to relocate permanently or obtain a residence permit, particularly the Golden Visa, which gives them the freedom to leave if they feel the need,” stated co-founder Filipa Pinto de Carvalho.
Among the main attractions are the lifestyle, mild climate, and the quality of food and wine. However, Filipa Pinto de Carvalho highlights that Portugal is distinguishing itself in other areas, such as project quality, innovation, and the competence of its professionals.
Innovation and Entrepreneurship
“People involved in entrepreneurship, innovation, or venture capital investment recognize, in Portugal’s growing ecosystem, the same initial enthusiasm and collaborative spirit they felt in San Francisco 20 or 30 years ago,” she explained to Lusa.
The majority of North Americans seeking support through AGCP are focused on the Golden Visa, particularly in investment funds, or on creating local companies to hire workers.
“It is a very positive trend that reveals the maturity of what Portugal offers and how it is perceived from abroad,” added Filipa Pinto de Carvalho. This vision aligns with another growing trend: established U.S. companies see Portugal as a test market and a gateway to Europe.
As co-founder of RedBridge, which fosters synergies between Portugal and California, Filipa also emphasized a strong desire among North American entrepreneurs to create a positive impact. “I’ve noticed that, when they make the decision to move, they want to enjoy what the country offers but also contribute positively to what they consider their new community,” she said.
Portugal on the Radar of North Americans
The growing interest in Portugal was already visible on U.S. election night, when Google registered a spike in searches for “moving to Portugal.” In 2023, the number of North American residents in the country grew by 44.2%, surpassing 14,000. Tourism from the U.S. also continues to expand.
With around 80% of AGCP’s clients located in California, the recorded increase mirrors the trend observed during the Covid-19 pandemic and is expected to continue into 2025. According to Filipa, the political and social climate in the U.S. is one of the main factors driving this trend.
“There is a sense of discouragement and division in the country,” she observed. “Many also mention the desire to provide a safer, more harmonious environment for their children, away from the tensions and polarizations experienced in the United States.”
The choice of Portugal over other European countries is due, according to those interested, to its similarities with California. “They feel a great comfort in the cultural openness and diversity they find here, which feels very familiar to them,” concluded the entrepreneur.
