Early retirement in Portugal is becoming more and more popular for a variety of reasons. The cost of living is relatively low, the weather is great, and there are plenty of activities to keep retirees busy.
One couple who decided to retire early in Portugal is Jerry and Linda. They moved to Portugal from the U.S. about four years ago and haven’t looked back since. “We just love it here,” Jerry says. “The people are friendly, the food is great, and there’s always something to do.”
Linda says that one of the best things about retiring in Portugal is that they don’t have to worry about their finances as much as they would back home. “Our monthly expenses are a lot lower here, so we don’t have to worry about outliving our savings,” she says.
In recent years, Portugal has become increasingly popular as a travel destination. But what about those who are looking for a more permanent move?
Here are a few reasons why Portugal is an ideal place to call home.
One of the most appealing aspects of Portugal is its climate. Located on the coast of the Atlantic Ocean, the country enjoys mild weather year-round.
This makes it a great place to enjoy outdoor activities such as hiking, biking, and swimming.
Portugal is also known for its food and wine. The country’s Mediterranean climate is perfect for growing olives and grapes, two of Portugal’s main exports.
And with fresh seafood available in abundance, there’s no shortage of delicious meals to be had.
Did you know that Portugal also offers some great tax advantages?
Here are a few reasons why Portugal is a great place to save on taxes.
Portugal has a very favorable tax regime for foreign retirees, freelancers, and entrepreneurs.
If you receive a pension from another country, you may be exempt from paying income tax on it in Portugal.
And even if you don’t receive a pension, you may still be eligible for some generous tax breaks if you apply for the non-habitual residence tax scheme.
Learn more about taxes in Portugal.
Cost of living in Portugal
The cost of living in Portugal is relatively affordable compared to other Western European countries.
Lisbon is the most expensive city in Portugal, followed by Porto and then the Algarve. In general, you can expect to spend around €50-60 per day on food and accommodation.
This will obviously vary depending on your lifestyle and preferences
Climate in Portugal
Portugal is a small country with a big heart, and its weather is one of the things that make it so special. The climate in Portugal is Mediterranean, which means that it has hot, dry summers and mild winters.
The average temperature in the summer is around 25 degrees Celsius, but it can get as high as 40 degrees Celsius in inland areas.
In the winter, the average temperature is around 15 degrees Celsius, but it can get as low as 0 degrees Celsius in the mountains. Rainfall is also quite variable, depending on where you are in the country.
The coastal areas tend to be much wetter than the inland areas, and there are also differences between the north and south of Portugal. In general, though, you can expect sunshine and blue skies for most of the year!
Healthcare system in Portugal
Portugal has a public healthcare system that is universal and free at the point of service. The system is financed by the government through general taxation.
There are also private healthcare providers in Portugal, but they must comply with strict regulations set by the government.
The Portuguese healthcare system is ranked as one of the best in the world. In a recent survey, it was ranked 4th out of 190 countries. The high ranking is due to several factors, including the quality of care, accessibility, and affordability.
The Portuguese government has invested heavily in healthcare over the years, and it shows.
The country has some of the best hospitals and clinics in Europe, and patients have access to cutting-edge treatments and technologies.
How to retire early in Portugal
Portugal’s golden visa program is one of the most popular in Europe, and it’s not hard to see why. The program offers a fast track to Portuguese residency and citizenship for those who invest in the country.
And with Portugal’s strong economy and relaxed lifestyle, it’s no wonder so many people are interested in moving there.
If you’re thinking of early retirement in Portugal, here’s what you need to know.
First, you’ll need to make an investment of at least €280,000 in real estate in Portugal.
Once your investment is approved, you’ll be granted a residency permit. After five years of living in Portugal, you can apply for citizenship.
The Portuguese golden visa program is a great way to access Europe’s Schengen Area countries.
Golden visa investment options
Portugal offers multiple investment options you can take to be eligible to obtain the Portugal golden visa.
But, if you have decided to invest in real estate, then you want to choose an approved property for Portugal’s golden visa purposes.
You can use it as your home, rent it out, or use it as a vacation home. Most of these properties have a guaranteed rental income.
They will also reap the benefits when the home’s value increases over time.
Requirements to meet
To qualify for the program, you must meet the following requirements:
You have to be above 18 years old.
Make a significant investment in Portugal. See the Portugal golden visa investment options here.
You must not have any history of criminal records.
You must commit to maintaining the investment for at least five years.
In short, early retirement in Portugal is a great option for those looking to enjoy their golden years in a beautiful and affordable country. The cost of living is low, the climate is mild, and the people are friendly.
There are plenty of activities to keep retirees busy, from exploring the many historical sites to relaxing on the beach.
If you’re considering early retirement in Portugal, what once was known as the most straightforward residency-by-investment program is now coming to a possible end.