The cosmopolitans migrate to Portugal due to a variety of reasons, including its climate, safety and opportunities for business. Let’s look at the major benefits that come with being in Portugal.
Warm climate. Portugal is a mild climate, but it differs depending on the region: the southern region is more dry, the northwest is more wet and the northeast known for its long, warm summers.
The month with the highest temperature is August. In Lisbon Lisbon, the mean daily temperature of the day is 27.8. The ocean is the warmest between September and August, and the temperatures range from 13 to 19 all through the year.
There are mild winters. The average temperature for the month of January Lisbon in Lisbon is 14.7. There isn’t much snow in Lisbon, and, when it does snow, it is quickly melting. It is more prevalent in areas with mountains.
It’s usually sunny in Portugal most of the time, particularly during July, August and September.
Recreation and entertainment. In Portugal there is something for everyone to find an activity or place to their preferences. It is possible to swim within the Atlantic Ocean, explore the Serra da Estrela mountain range as well as visit fortresses or castles. Locals love fishing, surfing, and diving.
Portugal has won the 26 World Travel Awards in 2020. The awards were awarded for the beaches, tourist attractions and resorts. For instance the Algarve region which is considered by Portuguese tourists and residents as the perfect spot for a relaxing vacation along the coast. Portugal was chosen as the top holiday destinations in Europe.
Safety. In the year 2019 Global Finance magazine ranked Portugal fourth among the most secure countries around the globe. Moreover, in 2020 it was ranked at third place in Global rankings of peaceful nations.
Portugal has an extremely low rate of crime. The Portuguese are warm and friendly people who welcome immigrants with warmth and kindness.
A fairly low expense of living. The average costs of living Portugal is around 60% higher than Russia. But elsewhere in European states, like Austria, Switzerland, the UK and neighbouring Spain the prices are more expensive. When compared to the prices of Europe, in the European Union, life in Portugal is quite cheap.
Education quality. Portugal is a country with a relatively excellent standard of both higher and secondary education. Degrees awarded by Portuguese universities are recognized by the European Union, which helps students find jobs in other EU countries.
The university classes are offered by professors in Portuguese as well as English. But, English programs are not available at every university and are more costly. A bachelor’s degree taught in English in the University of Oporto costs a minimum of €8,900 per year for a degree offered by Portuguese in Coimbra’s University of Coimbra costs a minimum of $6,340 annually.
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The quality of medicine. Portugal is spending around 9 percent of its GDP on health care. In the global Health Expensive 2020 study Portugal is placed 36th when it comes to spending.
Medical treatment is free of charge in public hospitals. This is offered to citizens as well as citizens of the country.
Private clinics are where you are able to obtain appointments faster than at public clinics, and you can also get an improved level of services, such as telephone consultations with your physician. Insurance policies for health care that are private cover a portion of the costs or the total cost of the treatment.
The tax benefits available to residents. Foreigners who have the right to reside in Portugal are eligible to obtain an exemption from taxes under the non-habitual Residence (NHR) Tax status. It allows you to pay no taxes on earnings earned overseas in the event that it was taxed at the source.
The NHR status permits the investor to lower the amount of tax on income to be paid in Portugal. The tax rate on income for skilled professionals, like engineers, executives, programmers scientists, artists, and entertainers is cut to 20%, down from 48%..
To qualify for NHR status, you need to become a tax-resident of Portugal that is, living in Portugal for a minimum of 183 days throughout the year, and then purchasing or renting a properties. Tax exemption is available only if you’ve not been an Portuguese tax-resident in the past five years.
A tax exemption is granted for a maximum of 10 years.
It is the English language. Since the majority of Portuguese inhabitants speak English and English, one doesn’t require fluency in Portuguese for living in Portugal.
The pace of life. Portugal is a great choice for people who enjoy a slow lifestyle. The Portuguese aren’t usually on the move to get where they want to go. Cities aren’t as vibrant as cities in Russia and in the US as well as the UK.
The disadvantages of living in Portugal
A few of the drawbacks of living in Portugal are interspersed with its positive aspects like the climate or the speed of life.
The necessity to learn Portuguese. In the street in the shops and museums, you are able to speak in English. In government offices generally Portuguese is the language spoken. So, it is necessary to be able to Portuguese at least to an intermediate level of conversation.
There are difficulties when paying with cards. In Portugal banks, credit cards are issued under the Multibanco system. Visa or MasterCard are not widely accepted. You must verify whether your international bank card is accepted , and keep cash with you.
In summer, it is hot and humid. It rains in winter. The Portuguese climate doesn’t change dramatically from one season to the next. In winter, it is rainy and there’s hardly any snow. In summer, temperatures may rise to as high as 40.
The apartment isn’t equipped with central heating system. The apartments are cold during winter. You need to buy heaters to keep warm.
Life pace. The peaceful lifestyle typical of Portugal is not suitable for all. The locals aren’t in a pressure and may not be punctual. Restaurants and shops are often closed for a period of time during the day, and they are also closed on Sundays.
How to Get to Portugal
To move to Portugal you must apply for the residence permit. It is usually issued to people who plan to study or work there and also get married to an Portuguese citizen, or carry major public services.
Portugal issue residence permits to investors. The process can take approximately six months.
The applicants are given eight investment choices. The purchase of real estate worth EUR500,000 can be the most sought-after option. Many applicants also purchase properties for renovation, which costs $350,000.
Beginning January 1st, 2022, investors won’t be in a position to purchase residential properties in resort towns that are popular. In exchange, they will be provided with facilities in Azores, Madeira and in regions that are not populated.
Foreigners who have the Portuguese residence permit are able to be employed, study, and live in Portugal. They are also able to travel without needing a visa to Schengen states for as long as 90 days out of 180.
Five years after receiving a residency permit for an investment plan, the owner is granted the ability to apply for permanent residency or citizenship.