Portugal is situated in southwestern Europe, on the Iberian Peninsula with an area of about 92,000 km², this nation is bordered by Spain to the north and east and the Atlantic Ocean to the south and west.
It has an average of more than 300 sunny days a year. That means you’ll be able to enjoy having a nice walk across the beaches for more than two-thirds of the year. Isn’t that fantastic?
Portugal has one of the most desired tax regimes for expats: the all-famous Non-Habitual Resident Tax Regime.
In short, if you’re an expat and move to Portugal, you’ll be able to apply for this regime (deadline is March 31st).
This regime grants the new resident some of the most desirable tax benefits in the world that comprise:
A 10% flat tax rate on most of the incomes originating outside Portugal.
A 20% flat tax rate on most incomes obtained in Portugal.
Keep in mind that your income tax rate can reach an incredible 48% if you don’t apply for the NHR regime, although most Portuguese people pay a 23% tax rate.
Portugal is a tiny nation with many of hidden treasures. You can easily find green landscapes and mountainous regions and even snow.
Among the world's inhabitants, Portuguese people are among the friendliest. Everyone is extremely kind and welcoming, even though there are subtle differences between people from different parts of the nation, rural and urban areas, etc. Moving was a lot less stressful because of that.
When you retire, you want to settle down, have fun, and feel like you belong somewhere. For that reason, Portugal is an ideal location for establishing meaningful relationships.
Portuguese cuisine is a delightful fusion of flavors influenced by centuries of trade and exploration. Fresh seafood dishes like bacalhau (salted cod), grilled sardines, prawns and octopus are staples along the coast, while hearty stews like cozido à portuguesa and feijoada showcase the country's love for comfort food.
Traditional Portuguese restaurants, generally associated with good traditional food.
Tasquinhas, where you can find the most regional and family-made food.
The tabernas, a place that serves small portions of traditional food along with wine and beer.
Wine and beer are very inexpensive in Portugal. I don't drink alcohol so I don't have first hand knowledge of the taste but my friends tell me that the wine is spectacular.
Portugal offers a delightful retirement destination with a low cost of living, making it an attractive option for retirees. With various affordable towns and villages like Braga, Setúbal, Tomar, and Caldas da Rainha, a couple can live comfortably for under $30,000 per year.
Portugal's low cost of living compared to the U.S. is evident, excluding rent is almost 29% lower on average.
Retirees can enjoy a comfortable retirement in Portugal with a monthly budget ranging from $1,500 to $3,000 depending on where you live (check out my apartment tour here). Cities such as Lisbon and Porto as well as the Algarve will be a bit more expensive.
In 2023, my average monthly expenses was €2500 and you can read about it here and I live in Lisbon.
Portugal is generally considered a safe country to live in, consistently ranking as one of the safest countries globally with low crime rates and a stable political environment. The country's commitment to safety, effective governance, and welcoming atmosphere makes it secure and appealing for residents and visitors alike. With a reputation as one of the safest nations globally, Portugal offers a high quality of life, affordable cost of living, family-friendly atmosphere, and an attractive tax system.
The Global Peace Index ranks Portugal as the seventh safest country in the world, with low crime rates compared to other European countries. Violent crimes are notably infrequent in Portugal, contributing to an overall sense of safety. Additionally, Portugal's commitment to safety permeates various aspects of daily life, ensuring a stable and secure atmosphere for residents and visitors.
I've taken public transportation as late as 11:30 p.m. and have walked home from the metro station to my apartment (about a 10 minute walk) by myself and have felt totally safe.
Healthcare is definitely an important topic for the retiree.
Portugal offers high-quality and cheap (often free) public healthcare system as well as private insurance at reasonable costs.
Once you have your Residence Permit, you'll need to obtain your Numero de Utente to have access to the public healthcare system. You will be appointed a family doctor to be your personal physician. Before being treated with a specialist doctor, you need to have a consultation with your family doctor.
There are a wide variety of hospitals, especially in Lisbon and Porto:
Centro Hospitalar de Lisboa Central (Hospital Dona Estefania);
Centro Hospitalar do Porto (Hospital Geral de Santo Antonio);
Instituto Português de Oncologia de Lisboa;
Clínica Central do Bonfim Lda;
Hospital da Luz Torres de Lisboa (formerly British Hospital);
Clinica Médica International;
Portugal has become popular; that’s the reality. You'll find expats communities from such countries as: Brazil, Cape Verde, Ukraine, United Kingdom, China, India and the United States to name a few.
Portugal has the easiest visa application process when compared to other nations like Germany, France, and Spain, because the local government actively promotes retirement in Portugal.
There will be more commerce, more jobs, and a better economy as a result of more people residing in Portugal.
Those who are in compliance with the visa process will be able to lawfully reside in Portugal and experience all that it has to offer.
Keep in mind that you can also become a Portuguese citizen after just five years of residence in the country.