As an expat in Portugal, you’re looking for ways to grow your wealth safely. Portuguese government bonds offer an interesting opportunity: government-backed stability with competitive yields. Let’s explore whether they fit your investment strategy.

What Are Portuguese Government Bonds?

Portuguese government bonds (also called ‘Títulos do Tesouro’) are debt securities issued by the Portuguese government. When you buy one, you’re lending money to the government in exchange for regular interest payments and the return of your principal at maturity. They range from short-term (1 year) to long-term (30+ years).

Why Consider Portuguese Bonds?

Several factors make Portuguese bonds attractive to expats:

• Government-backed security, reducing default risk.
• Yields currently 3–5% depending on maturity, beating inflation.
• EUR-denominated, reducing currency risk for those planning to stay in Portugal.
• Easy to buy through Portuguese banks and brokers.
• Tax-efficient under Portuguese law.

Tax Considerations

Interest from Portuguese bonds is typically subject to 28% withholding tax. However, if you’re on the NHR regime, you may qualify for exemption on certain investment income.

How to Invest

You can purchase Portuguese government bonds through most Portuguese banks or international brokers. Minimum investment is typically €1,000–5,000.

Contact us to discuss how bonds fit into your expat investment plan.

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