{"id":42358,"date":"2020-10-05T09:15:05","date_gmt":"2020-10-05T14:15:05","guid":{"rendered":"https:\/\/www.escapeartist.com\/?p=42358"},"modified":"2020-12-07T09:55:56","modified_gmt":"2020-12-07T14:55:56","slug":"why-retiring-in-portugal-is-so-attractive","status":"publish","type":"post","link":"https:\/\/www.escapeartist.com\/blog\/why-retiring-in-portugal-is-so-attractive\/","title":{"rendered":"Why Retiring In Portugal Is So Attractive"},"content":{"rendered":"

Why Retiring In Portugal Is So Attractive<\/strong><\/h2>\n

Retirees from all over the world choose Portugal<\/a> as their retirement place. Many reasons make Portugal a desirable option, such as high quality of life, excellent year-round weather, and the friendliness of the locals.<\/span><\/p>\n

However, there are also questions revolving around the idea of becoming an expat<\/a> in another country. This guide is here to answer all the questions about retiring in Portugal.<\/span><\/p>\n

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1. Why Retire in Portugal?<\/strong><\/h2>\n

Before going into financial details, it is a good idea to discuss why Portugal is a wonderful country for retirement.<\/a> To start with, the country is stunningly beautiful, and it has a very rich historical background. Traces of this vast historical heritage can be found all over Portugal. Even in the capital Lisbon, it is possible to walk between districts with a vibrant nightlife and Medieval fishing towns.<\/span><\/p>\n

Furthermore, Portugal receives sunshine almost all year round. With more than 300 days of sunshine per year, the coastline surrounding the country becomes an incredible attraction. Portugal\u2019s long coastline also shapes its rich cuisine, and its culinary appeal brims with fantastic seafood options.<\/span><\/p>\n

Portugal is also a top contender on every safety, security, education, and healthcare index. The country provides its citizens and residents with the highest quality of life options. Often regarded as one of the most peaceful European countries, no wonder Portugal is so popular among retirees.<\/span><\/p>\n

Moreover, all of the above come at very affordable costs. In the countryside of Portugal, it is possible to live comfortably on $1,500-1,700 per month. In metropoles like Porto and Lisbon, this amount goes up to $2,000-2,200. Expats from the USA, for instance, report that in Portugal, they spend around one-third of what they were spending in the States.<\/span><\/p>\n

Finally, Portugal\u2019s tax laws and programs like the non-habitual tax regime (NHR) cut costs drastically. Retirees aiming for tax reduction also consider Portugal a great option. Both Forbes and CNN leaned on this topic in 2020. Both publishers regarded the Algarve region of Portugal as the best relocation spot for retirement.<\/span><\/p>\n

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2. How to Retire in Portugal, and Who Can Do It?<\/strong><\/h2>\n

Retiring in Portugal<\/span><\/a> is not as complicated as in some other countries. As long as they meet the selected route requirements and have a clean criminal record with clean sources of income, almost anyone can retire in Portugal. There are several options for different groups, such as EU citizens, US citizens, and non-EU citizens. Most retirees prefer Algarve as their desired location. More than 100,000 retirees reside in the region.<\/span><\/p>\n

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3. EU Citizens<\/strong><\/h2>\n

For EU citizens, it is very easy to retire in Portugal. EU citizens already have most of the rights that locals have. A simple application to SEF (Servico de Estrangeiros e Fronteiras) is enough to become a retiree in Portugal.<\/span><\/p>\n

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4. Non-EU Citizens<\/strong><\/h2>\n

Non-EU citizens may directly apply for a Portuguese residence permit. This process is done at Portuguese consular offices. The required documents are a valid passport, proof of income, health insurance, and a clean criminal record.<\/span><\/p>\n

Another popular option for non-EU citizens is the <\/span>Portugal Golden Visa Program<\/span><\/a>. The scheme grants residence permits to investors who successfully invest in Portugal using one of the program\u2019s routes. The possible routes are:<\/span><\/p>\n