Portugal has become a magnet for expats. With its Golden Visa programme, digital nomad visa, and other attractive options, relocating to this sun-soaked corner of Europe is now easier than ever. This guide will walk you through the essentials of making Portugal your new home.
Why choose Portugal as an expat?
Portugal offers a compelling package for expats. Its near year-round pleasant weather, coupled with a high quality of life, makes it an attractive destination. The country boasts a Golden Visa programme, is remote-worker friendly, and provides excellent healthcare.
Can foreigners relocate to Portugal?
The answer is a resounding YES. The number of foreign residents in Portugal has nearly doubled in the past five years. The country welcomes expats with open arms, offering various visa options including the Golden Visa, Digital Nomad Visa, and D7 Visa. These programmes make it easier for foreigners to obtain residency or even citizenship.
Working in Portugal
To work in Portugal, you'll need a resident permit card. The Golden Visa is particularly attractive as it allows you and your eligible family members to study, work, and live in the country. For digital nomads, Portugal offers a specific visa for remote workers.
Relocating as an Investor
Portugal's Golden Visa programme offers several investment options. While property investment is no longer available, other opportunities include:
Investment funds (minimum €500,000)
Supporting arts and cultural heritage (from €250,000)
Research activities investment (€500,000+)
Business investments (€500,000+ with job creation)
Healthcare for expats
Portugal's national health service, ServiçoNacional de Saúde (SNS), is available to all residents. The World Health Organisation ranks Portugal's healthcare system highly. Private healthcare is also widely available and affordable, with annual insurance costing around €400.
Finding a home
Popular expat destinations in Portugal include:
Lisbon: The capital offers a high quality of life, rich culture, and a large expat community.
Cascais: Known for its safety, welcoming expat community, and international schools.
Porto: English is widely spoken, and the cost of living is reasonable.
Algarve: Home to many foreign residents in towns like Tavira, Lagos, and Albufeira.
Monthly living costs range from €850 to €1,500 depending on the location and lifestyle.
Taxation in Portugal
Tax residency in Portugal is triggered by spending more than 183 days in the country within a year. As a tax resident, you'll pay taxes on most of your income. However, Portugal offers attractive tax schemes for new residents, potentially reducing your tax burden.
How we can help with your relocation
Relocating to a new country can be daunting, but you don't have to navigate it alone. International Wealth Ventures offers expert guidance on citizenship by investment, retirement planning, and tax advice for a secure future..