Portugal Retirement Visa: A Guide to Retiring in Portugal

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.

Retiring in Portugal with a Portugal D7 visa

Retirees can opt to apply for Portugal’s D7 visa. It gives foreign citizens who wish to live in Portugal the chance to do so, either as a retiree or as a passive income earner.

In exchange for showing you have a regular and reliable income, either from your pension funds or from your own finances, you can get the residence permit (D7 visa), granting you special tax status for a ten-year income tax break.  The D7 visa is an excellent option for expats looking to retire in Portugal, and a rising number of internationals are applying for this specific residence program.

D7 visa requirements

• Be a non-EU national
• Earn a passive income of at least €760 per month (your income can come from pensions, transferable equity, real estate, intellectual property, or financial equity)
• Show proof of a place to live in Portugal
• Be willing to reside for more than 183 consecutive days per calendar year in Portugal

Advantages of retiring under the Portugal D7 Visa

Retirement visa for Portugal tax benefits

For expats retiring in Portugal, the NHR scheme is the best tax option. After applying to the scheme, retirees are exempt from paying local taxes for the next ten years. Currently, NHR offers a 20% income tax rate to people employed in ‘high-value’ professions, as well as the potential to receive some foreign income, like property gains or pensions, free of certain Portuguese tax.

How can Global Citizen Solutions help you?

Global Citizen Solutions is a boutique consultancy firm with years of experience delivering bespoke residence and citizenship-by-investment solutions for international families.

With offices worldwide and an experienced, hands-on team, we help clients from around the world acquire Portugal Visas or homes while diversifying their portfolio with robust investments.

If you have a question related to Portugal’s retirement visa, speak to one of our consultants so we can understand your objectives and help you move forward successfully.

Frequently asked questions about the Portugal retirement visa

What is a Portugal retirement visa?

Portugal has several visas available for retirees seeking to move to Portugal. The best retirement visas for Portugal are the Portugal Golden Visa and the D7 Visa.

Can I retire in Portugal with the Portugal Golden Visa?

Provided you are a non-EU citizen willing to make a qualifying investment of at least €280,000, you are eligible to retire in Portugal under the Golden Visa.

Can I retire in Portugal with the D7 Visa?

Provided you are a non-EU citizen with sufficient funds to support yourself during your stay in Portugal, are willing to reside more than 183 consecutive days in Portugal, and have a place to stay in Portugal, you are eligible to retire in Portugal under the D7 Visa.

What are the Portugal retirement visa income requirements?

Applicants need to prove a passive income outside of Portugal that is €760 or more per month. Passive income can be through a pension, rental income, or other means. An additional 50 percent of the income is required for a spouse and 30 percent for a child if you include relatives in the application.