8 reasons to retire in Portugal
Are you thinking where should you retire, and you have listened to someone saying that Portugal might be a good option? It was excellent advice, and we will explain you why. Check these eight reasons to retire in Portugal, and an extra one in the end!
Taxes. Portugal has implemented a Non-Habitual Resident program, which entitles citizens from countries with double-taxation treaties shared with the Portuguese Republic and having not been residents here for the last five years, to have a 10-year exemption of taxes regarding their foreign pensions. In other words, Portugal welcomes your spending here your pension – but the way you want, rather than giving it to the taxman.
To apply, you must reside in Portugal at least 183 days per year. You’ll want to reside way more than that!
Visa Requirements. There is no big deal here. Get a Type 1 Resident Visa, move to Portugal over the next three months, and then ask for a Resident Permit, renewable every two years; after five years, you can become a permanent resident.
Cost of living. It’s the lowest of Western Europe. You can live quite comfortably with 1500 euros/month (£1335 at current rate).
Health. The Sistema Nacional de Saúde (National Health System) is ranked among the 20 world best by the World Health Organization. If you read Portuguese tabloids you might think otherwise, but don’t let yourself be fooled: public health is a real bargain here. As a resident, you’ll have full access to it.
Security. The Global Peace Index 2017 places Portugal as the 3rd most peaceful country in the world, only behind Iceland and New Zealand.
The usual tourist reasons. Wonderful climate, the gastronomy, the wines; above all that, the people.
Real estate. It’s not overpriced, but it’s currently increasing again, after the bailout years.
Portugal is a member of the European Union. We once met a British gentleman who told us that he loved Portugal, but Algarve was “ruined” – because of the excessive British presence. He also added that if Salazar was alive, he would keep Algarve for the Portuguese.
Politely, we disagreed. We welcome everyone in Algarve: the British, the French, the Germans, even Brussels eurocrats if they like. Portugal has just come out of a difficult time (the 2011 bailout) and is fully committed to its European integration, which is a plus for everyone living here, British or not.
We could add a ninth reason here: if you like football, they have outstanding professional football here, as you might now. If you’re moving to Algarve, Portimonense SC is currently playing at Liga NOS, the top-level.
Of course you’ll also need somewhere to live when you retire over here, so head on over to our site and check out the latest properties we have for sale – CLICK HERE