Moving To Portugal- Everything You Need To Know
Portugal is now moving forward from the easy week-long getaway and idyllic retirement setting and is gradually becoming the global relocation hub for young professionals. Aside from the beautiful architecture and consistent subtropical climate, the city of Lisbon provides affordable living costs and a vibrant nightlife.
If you’re considering moving abroad to Portugal, it’s important to undergo extensive research. This will help you see if the way of life will suit both yourself and relocating employees. This week, our global relocation experts have shared some vital information you need to know.
Tax opportunities
One of the major appeals of moving abroad to Portugal is the generous tax break that could be offered to you. The NHR (non-habitual resident) scheme provides new residents attractive tax benefits for the first 10 years of residency. You could be offered these benefits if:
- You have not been a tax resident in Portugal within the last 5 years
- Be classed as a Portuguese resident. This means to spend more than 182 days a year in the country.
- Register as a non-habitual resident with the tax authorities.
It’s also important to note that if you’re intending to stay in Portugal for longer than 183 days, you can then become tax eligible.
Visas and documentation
when coming from outside of the EU, i.e. the USA, Australia or Canada, you can stay for up to 90 days without a visa. If you’re only planning to live there for a year, then it is recommended to apply for a temporary residence permit.
If you’re moving abroad to Portugal from an EU country, then you do not need a visa. However, if you’re planning on becoming a resident, you are required to apply for a residency document.
Living Costs
Another major attraction of Portugal is the living costs. You can expect to pay pretty much half of what you would pay living in the UK, US or Australia. For example, monthly transportation passes cost around €35 and a pint of beer roughly costs €1.50.
