Portugal Overtakes UK and US in Global Passport Rankings

The Portuguese passport has become one of the world’s most sought-after, now ranked as the fourth most powerful internationally, according to the newly released Global Passport Power and Appeal Index 2025.

Portugal’s strong showing places it well ahead of the United States, which sits in 20th place, and the United Kingdom, ranked 13th. Favourable tax structures, EU access, and lifestyle advantages are credited with making Portugal increasingly attractive to high-net-worth individuals (HNWIs).

Global Passport Power and Appeal Index 2025

Compiled by the World Digital Foundation and published in September 2025, the index evaluates passports on a broad range of criteria relevant to internationally mobile professionals, investors, and HNWIs.

“Instead of only focusing on visa-free travel, this index was compiled and scored based on broader considerations that affect wealth strategy and lifestyle optimisation,” explains the World Digital Foundation’s Danielle Moxey.

“This included global mobility, international banking and investment ease, tax exposure, healthcare and political stability, lifestyle appeal, and HNWI investment opportunities.”

Portugal secured fourth place overall—the highest ranking of any EU nation.

Moxey continued: “Singapore, Switzerland, and the UAE make up the top three thanks to their efficient governance, competitive tax frameworks, and investor-friendly ecosystems, while European nations Portugal, Ireland, Germany and Luxembourg are close behind, offering a balance of lifestyle, stability, and access to EU markets.

“Australia, Canada and New Zealand complete the top 10 due to their quality of life and investment transparency, despite moderate-to-high tax burdens.”

Why Portugal is Rising

Portugal is increasingly regarded as one of Europe’s most appealing destinations for investors, wealthy families, and globally mobile professionals.

Its passport grants visa-free travel to over 190 countries and the right to live, work, and invest throughout the European Union.

Adding to its allure is the IFICI tax framework (known as NHR 2.0), which offers 0% tax on most foreign-sourced income (excluding pensions and income from blacklisted jurisdictions) and a flat 20% rate on Portuguese employment or self-employment income for ten years. Portugal also levies no wealth or inheritance tax, enhancing its appeal for wealth planning.

Residency options remain attractive. The Golden Visa programme allows non-EU investors to qualify through a €500,000 subscription into one or more regulated Portuguese alternative investment funds. The visa covers family members, requires minimal time spent in the country, and permits free movement across the Schengen Area.

Meanwhile, Portugal’s property market continues to outperform much of Europe. Property prices rose by 15.2% in the first half of 2025—almost three times the EU average—making it a prime location for buyers seeking capital growth.

“Portugal combines EU-level access, tax structuring benefits, and lifestyle quality in a way few countries can match,” says Moxey.

“Complementing these benefits are Portugal’s exceptional quality of life, modern infrastructure, a favourable climate, geostrategic location, property market and general investment appeal, and a cost of living well below that of many other Western European countries.”

A Shift in Global Preferences

Concerns about taxation, political instability, and declining quality of life are prompting HNWIs to look beyond the UK and US.

The World Digital Foundation forecasts that the US will account for only 6% of new HNWI passport acquisitions between 2025 and 2028, while the UK will secure just 4.5%. Both now trail behind Portugal, Singapore, and the UAE in terms of desirability.

“With a combined share of just over 10% between 2025 and 2028, these two countries risk ceding long-term economic influence to nations that have adapted faster to the competitive realities of elite global mobility,” adds Moxey.

Chris Marson, international private wealth expert at RTI Family Office, underlines the benefits of alternatives: “Countries like Singapore, the UAE, and Portugal offer competitive tax advantages, simpler reporting requirements, and access to high-quality infrastructure without the same regulatory baggage.

“For globally-mobile entrepreneurs and investors, this combination means they can focus on growing their wealth and businesses rather than navigating citizenship and residency in the US and UK.”

Paul Stannard, chairman and founder of Portugal Pathways and the Portugal Investment Owners Club, confirms the trend: “With the UK and US failing to provide certainty and stability for HNWIs, many are now seeking citizenship and residency in more favourable emerging countries such as Portugal.

“The country’s IFICI tax regime and Golden Visa residency-by-investment programmes, the most sought-after currently, paired with Portugal’s climate, growing expat community, low crime rate, stunning beaches, growing property market, culture, investment potential and geostrategic location, mean we’re seeing more and more HNWIs look to Portugal as a place for residency and citizenship.”

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Click here to download the full Global Passport Power and Appeal Index 2025

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About Portugal Future Fund

The Portugal Future Fund strategically invests in key sectors, driving growth and innovation across Portugal. Approved for Portugal’s Golden Visa residency-by-investment, it offers a unique opportunity for impactful and rewarding participation.

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Disclaimer: The information on the Portugal Future Fund website and in email communications is for general informational purposes only and should not be construed as legal, tax, or financial advice. You should consult and check with a qualified professional advisor before relying on any information provided on this website or in email communications. As it relates to investments in Golden Visas or other wealth management solutions offered by regulated and professional advisors, it is important to note that past performance is no guarantee of future returns. Private equities can be highly illiquid and come with risk and should always be under professional independent advice. Portugal Future Fund operates under CMVM regulations but is not directly endorsed by the CMVM or any governmental entity.

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