My 2 cents view:
In favor of Portugal:
- Portugal is roughly 40% cheaper to live in than
Spain
- Madrid - Lisbon is 4 hours drive w/o bordes
- NHR program gives you:
- - has 20%
income tax for 10 years and 0% weath, real star, etc
- - If trading
crypto and "holding" them for a year Portugal has 0% tax rate.
- - NHR is available to all citizens of a EU member country (no need of
golden visa, which is needed for non-EU citizens) Search all details online.
In favor of Spain:
- One of the biggest tourist destination in the world (3rd or 2nd most visited country for tourist )
- Beckham Law gives:
- - flat reduced income tax rate of 24% up to €600,000 for 5-6 years.
- - Wealth tax lowered to 0.2% from 2.5%.
- - Not for people currently living in Spain
I would rather go to Portugal, not only because taxes are lower but because laws change less often and Portuguese
IRS is not as aggressive as Spanish IRS is (Hacienda is the worst IRS in the world along with US IRS).
But individual situation and preferences must be evaluates with a professional advisor to see what suits you better
