Portugal to pay 1.4 lacs as salary bonuses to professionals with degree

Highlights: Portugal offers 1.4 lacs as a salary bonus to students with a degree

 

• The Portuguese government has offered a salary bonus for students who will complete their bachelor’s and master’s degrees. 

• This aims to enhance qualifications and applies to Portuguese nationals and foreign residents. 
• Individuals who completed their academic degree in 2023 can also benefit from broad student coverage. 

• The government will also focus on supporting categories A and regulated tax and security status. 

 

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Details of the initiative that the Portuguese Government takes:

The Portugal government has offered 1.4 lakhs to students with a degree, either a bachelor's or Master who are residing in the country. This aims to support the enhanced qualifications in Portuguese countries.

 

Individuals who have already obtained their academic degrees before 2023 can benefit from broad coverage within the student community. The scope of the premium is extended to all taxpayers under 35 in Portugal who have completed their bachelor's and Master's degrees in national higher education institutions. 

 

This initiative will benefit both private and public sectors with benefits extending to academic degrees obtained abroad, provided they are recognised in Portugal. The government also emphasizes that the support is exclusive dedicated to those who falls under two categories that

will ensure a targeted approach with regulated tax and social security status: 

 

• Category A-(dependent work)
• Category B- (self-employed) 

 

Each year, eligible Graduates and Master's degree holders will receive an annual bonus of €697 for their bachelor's degrees and €1,500 for their Master's degree. The most crucial point to focus on is that this is valid for recent graduates who graduated in 2023 and can also claim this initiative's benefits. Recent graduates have to provide the number of years following the award of the academic degree, which is less than the study cycle duration. 

 

This initiative was taken on 29th November by the Portuguese government to create a salary premium for young individuals. The move will mainly attract international students who will continue to grow Portugal's migration.

 

The recent studies on Education and Science reveal a record-high enrollment of 446,028 students during the 2022/23 academic year, which is higher than three percent compared to the previous year.

 

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