Best Places to Retire in Portugal

Portugal is a possible country for retirement that has many attractions.  Starting with the warm weather, it is also less expensive than almost any other place in western Europe.  There is an extensive coastline on the Atlantic.  And it might be easier to retire here as a non-EU resident than many other places.

Residency.If you are a citizen in the EU becoming a legal resident will be easy. In most cases you need to apply and provide proof that you can support yourself, a current passport. For non EU citizens you can apply for a 1 year temporary residency permit, which is renewable for 2 year periods.  After 5 years you can apply for permanent residency. A Golden Residency Permit is available to individuals who invest more than 1 million Euros, or create 10 jobs, or purchase real estate worth more than 500,000 Euros.

f you are a citizen of a third state (all other situations), and you wish to become resident in Portugal, you must hold a residency visa that is suitable for the purpose of your stay. This visa allows you to enter Portuguese territory for the purpose of requesting a residence permit from the Foreigners and Borders Service.

Notwithstanding any special legal provisions that may apply, the temporary residence permit is valid for a period of one year from the date on which the document is issued. It may be renewed for successive two year periods. After five years of temporary residence, holders of this document may request a permanent residency permit. - See more at: http://www.livinginportugal.com/en/moving-to-portugal/residency-requirements/#sthash.tddwvmbF.dpuf
f you are a citizen of a third state (all other situations), and you wish to become resident in Portugal, you must hold a residency visa that is suitable for the purpose of your stay. This visa allows you to enter Portuguese territory for the purpose of requesting a residence permit from the Foreigners and Borders Service.

Notwithstanding any special legal provisions that may apply, the temporary residence permit is valid for a period of one year from the date on which the document is issued. It may be renewed for successive two year periods. After five years of temporary residence, holders of this document may request a permanent residency permit. - See more at: http://www.livinginportugal.com/en/moving-to-portugal/residency-requirements/#sthash.tddwvmbF.dpuf



Crime and Security. This is what the gov.UK says about crime in Portugal: "Beware of street crime. Thieves tend to target money and passports so don’t keep them all in one place." There is a risk of terrorism.  According to Wikipedia, Portugal's security and peace indicators compare very favourably to other countries. According to the 2012 Global Peace Index rankings, Portugal is the 16th most peaceful country in the world.

Taxes. As a resident of Portugal you are subject to Portugese taxation. Non-residents might have to pay some taxes. Portugal subscribes to the convention on double taxation, so you won't have to pay taxes twice on your income.



Medical. US Medicare is not honored in Portugal. However medical care is excellent in most parts of the country. Health care is provided at no cost to residents. The Portuguese Health Care System was ranked number 12 in overall performance by the World Health Organization in a 2000 report. Residents of Portugal who are citizens of EU countries are covered on the same terms as Portuguese citizens, although you have to apply.  Visitors are entitled to emergency treatment. Non EU residents should have some kind of medical insurance.


Cost of Living. The numbeo.com price comparison (CPI plus rent) shows Portugal with an index of 33, vs. the U.S. with 57 and UK at 60.  The Local Purchasing Power Index shows 75 for Portugal vs. 120for the UK and 139 for the U.S.

Best Places to Live. See the list of the Portuguese cities we have reviewed in the top right hand column. For reasons of atmosphere plus famiiarity many retirees prefer to live in small towns popular with expats. Cities have plenty of attractions and living options, although they will generally be more expensive. Coastal towns and cities are very popular with retiring expats. The Algarve is a region with at least 16 municipalities on the southeast coast famous for its beaches and rugged cliffs.

Pluses and Minuses. Portugal is definitely a cheaper alternative than the UK and France.  The weather is warmer than most of Europe.  There are any number of places to live where expats will feel comfortable. The economy is under pressure with high levels of  unemployment and the risk of default.

Weather. The Mediterranean climate is generally mild except in the mountainous areas of the country.

 

Portugal Retirement Communities
 
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