Living in Portugal is a possibility that has attracted more and more foreigners to enjoy their reforms.
The frenetic pace of our lives means that we sometimes leave this planning on the back burner. The transition to retirement actually requires some preparation, especially because you will have to look for new occupations for your days.
Therefore, if the possibility of living in Portugal during retirement arouses your interest, take the opportunity to learn about some factors that are attractive and can make your decision easier.
Living in Portugal: 6 Reasons to choose this destination when you retire
1. Portugal is at the top of the best European destinations to live in retirement
Portugal is in 4th place in the 2022 Annual Global Retirement Index , only surpassed by Panama, Costa Rica and Mexico. It is possible to state, therefore, that our country assumes a leading position at European level within this index.
The Annual Global Retirement Index brings together a list of the 10 best destinations in the world to live in retirement . Indicators such as safety, climate, healthcare and cost of living contribute to this ranking .
2. The country’s temperate climate
Climate is unquestionably a significant factor when moving to another country is considered. Entering the Mediterranean area, Portugal has a climate that is particularly popular with tourists from cold countries.
Although there are some fluctuations between the north, center and south regions, we have many sunny days and the four seasons can provide different and pleasant scenarios. Spring and autumn are characterized by their mildness, winter by some humidity and cold and summer by its high temperatures.
3. The cost of living is reduced
Compared to other European countries, Portugal has a low cost of living. Therefore, it is not surprising that it is so often perceived as a low cost destination .
The cities of Lisbon and Porto account for the majority of the population and experience significant tourist activity throughout the year. In addition to these two major urban centers, it is possible to live comfortably, with a real quality of life , in any region of Portugal.
4. Portugal has good levels of security
According to the 2021 Global Peace Index , produced by the Institute for Economics and Peace , Portugal is the 4th safest country in the world. This feeling of security is present in everyday life in Portuguese society.
At the same time, hospitality and the close and welcoming way in which we welcome our visitors can be seen in any corner of the country. There is, equally, a widespread interest among the Portuguese in contact with different peoples and cultures, promoting inclusion.
5. Take advantage of tax benefits
Anyone wishing to live in Portugal will also benefit from a set of tax advantages granted by the Portuguese State.
All foreign citizens who obtain the status of “non-habitual residents” will be able to enjoy these benefits for 10 years. To do this, they only need to change their tax residence to Portugal, staying here for 183 days. Alternatively, simply purchase a house in Portugal as your main home.
Also, any pension of non-Portuguese origin, domiciled in Portugal, will be exempt from paying IRS, avoiding double taxation.
6. Portugal has an excellent location
Located in the western territory of the Iberian Peninsula, extending into the archipelagos of Madeira and the Azores, the country has a truly privileged location. Therefore, living in Portugal provides good access to the rest of Europe.
With 3 airports, located in the cities of Lisbon, Porto and Faro, there are dozens of daily flights so you can visit family and friends whenever you feel homesick.
Is living in Portugal one of your dreams? Is this a destination that meets all the requirements to live your retirement peacefully? Then, consult the DS PRIVATE website . With the help of a company specialized in the areas of real estate mediation, credit intermediation and property construction , you can start preparing the future you have envisioned today.
