Looking for a relaxing vacation in a pleasant atmosphere? Then Portugal wouldn’t be a bad option at all. The Portuguese Republic, also known as Portugal, is Europe’s oldest country. It is located in southwestern Europe, along the Iberian Peninsula’s Atlantic coast, and is also bordered by Spain. The culture and food of the Portuguese people are vastly influenced by their location around the Atlantic Ocean. The country is most famous for its export of Port Wines, mouth-watering cuisine, and seafood. Planning a retirement outside your home country to Portugal is an awesome idea especially if you are a lover of nature and aquatic life.
Here are a few things you need to know when planning a retirement in Portugal
Cost of living
Compared to France, the country offers a very affordable cost of living. It has the lowest cost of living in Western Europe. With as low as $1700 a couple can pay for everything including accommodation per month. When planning your retirement with a low-budget pension, Portugal is an excellent choice for you.
One thing to note about Portugal is that the standard of living is quite on the average side compared to France and USA. Moreover, ” there are no Roses without thorns” low cost of living amounts to low or little wages/salary for retirees who have plans of working while living in Portugal.
Visa Requirements
Generally, the country has an easy and simple system for visa applications. Foreigners who choose it as their home has two options in terms of Visa request.
To begin, you can apply for a two-year temporary residency permit, which can be renewed. After being a resident for up to 5 years, retirees can now apply for a permanent residency permit if only they meet up to the requirements.
Secondly, Portugal has a Golden visa alternative for retirees. For an individual to qualify for GOLDEN VISA he/she must do at least one of the following:
- Invest at least €500,000 on a property in Portugal.
- Provide 10 new jobs in Portugal
- Invest in one sector of the Portuguese economy.
Foreigners under a Golden Visa have a lesser tax requirement compared to other types of Visas. Also, it is much easier for those under a Golden Visa to get a permanent residence permit in a shorter time. Regardless of the type of Visa u are applying for all foreigners who wish to enter Portugal must provide the following documents:
- Confirmation of an accommodation
- Medical insurance
- Evidence of financial ability or bank statement
- A valid passport
- Certificate of marriage
Safety
Every man and the entire planet yearn for peace. For many years, Portugal has been able to sustain peace and security within its territory. According to the Global Peace Index, Portugal is the world’s fourth most tranquil country. Despite the level of security in Portugal individual needs to be conscious of certain crimes like pickpocketing, theft, property scam, etc. Portugal is a peaceful destination to dwell in. What could be better than a tranquil setting with pleasant weather?
Healthcare system
Portugal’s healthcare system is well-balanced. According to the Euro Health Consumer Index, Portuguese health care was ranked 13th best in Europe in 2018. Portugal ranks higher than Spain, Italy, and the UK in providing quality health care services. Foreigners who enter Portugal through a GOLDEN VISA are entitled to the Portugal National Health Service. Personal with the D7 residence permit is also privileged to access the National Health Service.
Finally, when planning to retire to Portugal individual needs to bear in mind that living in Portugal also comes with some flaws such as; the high rate of unemployment, poor economic situation, language barriers, poor transport network, etc. In planning your retirement to Portugal you should hire the services of a financial expert for proper arrangements.
