How to retire in Portugal as a non-EU citizen? This guide provides detailed information on immigration options for expats who are interested in retiring in continental Europe’s westernmost nation.
How to retire in Portugal: Portugal retirement visas
Retirees originating from all over the world move to Portugal every year in pursuit of hotter climates and a fresh start in Europe. From endless sunshine and a favorable housing market to gorgeous beaches and affordable living costs, there are plenty of reasons to choose Portugal. So when it comes to how to retire in Portugal from abroad, here are your immigration options.
Visas for expats who retire in Portugal
To retire in Portugal, you’ll need a valid visa. This will need to be arranged before you move to Portugal. The most popular Portugal retirement visas are the Portugal Golden Visa and the D7 Visa. Both are fantastic immigration options suiting different retiree profiles. If you qualify, you’ll have the opportunity to apply for Portuguese citizenship after five years of holding one of the visas.
Retire in Portugal with a Portugal Golden Visa
If you have a pension or money from a house sale in your home country, you can get the most favorable tax conditions through Portugal’s Golden Visa Program. The scheme encourages investors to make a financial contribution to the nation — most popularly as a real estate investment — in exchange for a residence permit.
Portugal Golden Visa visa requirements
To qualify for the program, retirees must fulfill the following Golden Visa requirements for Portugal:
- Be either non-EU, non-Swiss, or non-EEA
- Make a minimum investment of €280,000 (investment routes are various)
- Have a clean criminal record
- Spend a minimum of seven days in Portugal for the first year, then no less than 14 days each subsequent two-year period
Advantages of retiring under the Portugal Golden Visa
If you’ve got funds to invest, or are looking to purchase real estate in Portugal, this visa is a fantastic option to retire in Portugal. Not only will you be able to expand your portfolio, but you’ll also acquire Portuguese residency in no time.
One of the most popular investment options for the Golden Visa is through a qualifying home purchase. You can purchase a new property from €500,000 anywhere in the country, or choose a government pre-approved renovation project totaling or exceeding €280,000 and rebuild the property into a second home. Since Portugal’s property market is performing so well, it is possible for you to get a solid return on your investment. Do note that from 1 January 2022, investors will no longer be able to make real estate investments in Portugal’s thriving centers like Lisbon, Porto, and coastal areas of the Algarve. Stay on top of the latest Portugal Golden Visa changes by clicking here.