Strange as it may seem, for a country that was once the heart of a mighty empire, Portugal is being discovered. For decades the country had been seen by foreigners as the less attractive sister of Spain, but those days are now long gone. Despite the pandemic, 59,817 foreigners became Portuguese citizens in 2020, nearly twice as many as the previous year and foreign real estate investment in the country continues to increase year on year. The country’s attractions are becoming increasingly well known: an attractive climate, some of the world’s best beaches, a safe, stable society, excellent international transport links and the list goes on. If, like thousands of others, you are thinking about moving to this very attractive country, here are some points that you need to consider before Moving to Portugal.
Visa requirements- Moving to Portugal
If you are resident in one of the Schengen countries then you can move to the country without applying for a visa, once in the country you can then apply for a residency permit. Foreign nationals who are citizens of non E.U. countries will have to apply for a residency visa from their Portuguese embassy and then apply for a residency permit from the Immigration and Borders Service. Applicants will need to provide proof of finance, accommodation and health insurance. Permits are initially issued annually, but after five years a permanent residency permit can be obtained. Foreigners purchasing property in excess of 500,000 euros may be eligible for a ‘Golden Visa’, depending on where the property is located.
Housing costs
Affordable property has been one of the drivers of the Portuguese property boom and although popular locations like Lisbon still represent excellent value for money in European terms, recent years have seen substantial price rises. There is, however, still plenty of very attractive, affordable property to be found in other parts of the country. The property platform, Imovirtual, publish an online report on each district in the country which enables you to monitor buying trends. Currently, the most affordable district in the country is the ancient city of Guarda.
Day to day living costs
The good news is that Portugal has one of the lowest costs of living in Europe and if you choose to live in the south, 300 days of sunshine and short mild winters mean that you won’t have to face high energy bills in winter. Public transport is also reasonably priced, so it’s good news all round.
Job opportunities
Twenty per cent of the country’s GDP is derived from tourism and so the pandemic has had a serious impact on the Portuguese economy. On the bright side, Lisbon has become something of a tech hub and the Portuguese government goes out of its way to encourage entrepreneurs and start-ups.
Cultural differences
The catholic church and the family are of central importance in Portuguese society in a way that can seem somewhat ‘old fashioned’ to outsiders. Manners, dress codes and behaviour incline to the formal and first names are never used until a relationship has been established. Authority is respected and there is a clear top-down hierarchy in the business world.
