Cascais' local economy is almost entirely reliant on the service sector. Traditionally, Cascais was a small fishing village that relied heavily on industry, but since the royal family chose the city as its holiday destination in the 19th century, Cascais has transformed into a thriving tourist spot for both Portuguese and international tourists. Cascais' main attractions are its beautiful beaches, and the calm waters off the coast are ideal for watersports, which brings many tourists to the city. In addition, there is a large yacht club, and the city hosts many sporting contests throughout the year. Expatriates working in Cascais tend to be employed in the service sector, usually in managerial or senior positions in hospitality, communications, or marketing, or work as English teachers.
As Portugal is a member of the European Union, expatriates who are citizens of EU/EEA nations or Switzerland will not need a permit to work in Cascais. However, after six months of living and working in Cascais, EU/EEA and Swiss citizens must register for a residence permit, but this is only a formality. Foreigners that are not EU/EEA or Swiss nationals will need a permit to work in Cascais, unless they are married to a Portuguese citizen. In order to obtain a work permit for Cascais, expatriates will need to to have already secured work in the city, as their prospective employer will play a part in the application process. Once they have offered you the job, your prospective employer must apply to the Portuguese Labour Authorities in order to have the contract approved. Once this has been completed, you will then apply for the permit through the embassy or consulate in your home country. Permits for working in Cascais will be temporary, and will need to be renewed on expiry.
Like all Portuguese residents, expatriates working in Cascais will be required by law to pay income tax on their earnings. However, as foreigners, you may not need to pay income tax at Portuguese rates on the entirety of your income. If you live and work in Cascais for more than 183 days in the fiscal year then you are considered a resident for tax purposes, and as a result will pay income tax at Portuguese rates on your worldwide income. However, should you live and work in Cascais for less than 183 days in the fiscal year, you will be charged income tax at Portuguese rates on your Portuguese income only.
Portugal has a progressive tax system, which means that your total income for the fiscal year determines how much income tax you will be required to pay. The income tax rates for expatriates and foreigners living and working in Cascais for 2014 were as follows: