Choosing a country to live in involves several factors, including climate, taxation, access to residence permits, safety and quality of life. Nomad Capitalist examined these five pillars across 63 countries and concluded that Monaco is the best country in the world to live in. Portugal comes fifth in the ranking, standing out for its strong safety score.

Each year, Nomad Capitalist’s Nomad Lifestyle Index identifies the best places in the world to live. It assesses 63 countries across five pillars: nature and climate, taxation, obtaining residence, safety and freedom, and quality of life and infrastructure.

In this year’s ranking, Monaco takes first place with a score of 73.89 out of 100, largely due to its high quality of life and solid infrastructure. Andorra comes second with 73.68 points, scoring highly for safety, tax policy and nature. The United Arab Emirates is third with 73.15 points, leading the tax category with 96 points.

Portugal ranks fifth, with 70.09 points, and remains one of the preferred places for digital nomads to live. Portugal’s strongest areas are safety, relatively straightforward access to residence permits and taxation. 

This comes despite the government replacing the former non-habitual resident tax regime with a much more limited alternative and tightening the foreign nationals law.

Portugal received its lowest score for climate, owing to its growing exposure to extreme weather events linked to climate change.

 

Nomad Lifestyle Index

The top ten in the Nomad Lifestyle Index includes six European destinations. Alongside Monaco, Andorra and Portugal are Malta in fourth place, Cyprus in sixth and Switzerland in seventh.

Portugal therefore ranks ahead of most of the European countries assessed, including Luxembourg in 19th place, Denmark in 31st, Norway in 33rd, Spain in 42nd and the United Kingdom in 47th.

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