After listing Portugal’s Prime minister, Antonio Costa, announced the upcoming end of its golden visa program on November 2nd, 2022, many retirees are looking for options to invest in the country and obtain a resident permit
After a lifetime of working, retirees look at surrounding themselves with a soothing ambiance, comfort, and ease. And one of the best places to find all that is Portugal, a destination offering a luxurious and easy lifestyle without much hassle or cost.
Here are 5 reasons why Portugal can be the best post-retirement plan for YOU:
- Standard of living
Portugal is one of the most affordable places to live in. All your cost concerns regarding health, accommodation and other basic needs are met at a reasonable cost. The cost of living expenses alone makes Portugal a great country to retire in.Portugal offers one of the best climate conditions possible. Whether you like rain or sunshine, you get both in Portugal. The country receives almost 300 days of sun, but it is not as hot as you imagine. Even though the country is relatively closer to the sea, the air isn’t too humid. Most of the country has an average temperature of a breezy 20 degrees Celsius.On top of everything else, the Portuguese people are also very welcoming. The expats are received warmly, and even in tourist spots, the Portuguese residents are friendly to the tourists.
-
Healthcare
Most retirees are around 60 to 65 years old, so healthcare becomes a significant factor when considering moving to a new country. Fortunately, Portugal offers an excellent healthcare system. Most of the city hospitals are equipped with advanced equipment and technology. Portugal citizens and expatriates alike receive the best treatment and services. Moreover, the public healthcare system covers most of your health issues ranging from minor inconveniences to chronic illnesses; thus, you do not have to spend much on medical treatments.
-
Safety
A great reason to retire in Portugal is its safety. Portugal is one of the safest countries. In fact, According to the Global Peace Index 2021, Portugal has ranked as the 4th safest country in the world. The study also states that through the years, crime rates in Portugal and reports of theft and homicide have been meager. Moreover, the political climate has remained stable in Portuguese for decades and has held harmonious relationships with its neighbors.
-
Residence Permit
Portugal is one of the few countries encouraging expat immigration to grow its economy by granting a residence permit easily. Depending on your necessity, you can get a residence permit for educational purposes, work purposes, or family reunification. The easiest way to become eligible for Portugal residency is through the Portugal Golden Visa. A gist of everything you need to know about the Portugal Golden Visa is mentioned further in this article.
-
The Expatriate Community
Portugal is very popular among expatriates, and because Portugal itself invites immigrants, the number of expatriates has been steadily increasing in Portugal. Moreover, with the increase in the number of expats, English is also becoming a common language. Therefore, language is no longer a significant barrier.
The Portugal Golden Visa
One of the easiest ways to qualify for a Portugal residency is through the Portugal Golden Visa, considered one of the most attractive because it allows non-European citizens to be eligible for a residency permit and eventually get a Portuguese passport quite easily. Moreover, with the Portugal Golden Visa, you can travel to almost any Schengen country without applying for a visa.
Portugal Golden Visa Investment options:
To qualify for the Portuguese Golden Visa, you need to make an investment that strengthens the Portugal economy or creates jobs for Portuguese citizens.
There are multiple property investment options to choose from:
- € 500,000 property acquisition purchase (residential property is limited to designated interior areas) or € 400,000 in a low population density area
- € 350,000 property acquisition for the refurbishment of residential properties older than 30 years or in an area of urban regeneration (residential property is limited to designated interior areas) or € 280,000 in a low population density area*
Here is how you can apply for the Portugal Golden Visa:
Step 1 – Choose an investment plan from the above-given options.
Step 2 – Open a Portuguese bank account and tax number
Step 3 – Go through the Portugal Golden Visa application process
Step 4 – Receive your residency permit
Step 5 – Once all the above steps are completed and approved, you can apply for Portuguese citizenship after a minimum of five years under certain conditions.
