A growing number of people are looking
to retire and live in Portugal, according to the experts.
For more and more people, the attraction of Portugal is that you
can still relax in a down to earth country with lush green forests
in the north and tempered climate or the sunnier and less rain
in the south.
Although the Algarve is highly developed and property prices have
gone sky-high, other areas of Portugal provide loads of space
for still a reasonable price.
A Guide to Retiring Abroad in Portugal
By SL Newman
If you have dreams of selling your home and setting off for Europe
and retiring overseas in Portugal you should familiarize yourself
with all of the requirements and conditions that must be met for
you to retire abroad.
Most foreigners that are planning to retire overseas in Portugal
do not need to be in possession of a residence visa, or a visto
para residencia, from the Portuguese consulate. However, immigration
rules and conditions often change, so you may want to check in
with your local consulate and embassy to ensure that this information
is still up to date when you are ready to retire in Portugal.
Currently all European Union nationals, and those from the European
Economic Area (EEA), are entitled to up to six months of stay
in Portugal as visitors. Even so, they must get an extension to
remain in the country as a visitor after only 90 days in the country.
The extension will allow you to remain for an additional 90 days.
Or you also have the option of getting a residence card, or autorizacao
de residencia, instead of a stay extension.
If you are a non European Union national and are arriving in Portugal
by plane you will be required to complete a form before you exit
the plane that will allow you to stay for up to 60 days in the
country as a visitor. This form is typically given out during
the flight and in part it serves as a residence visa. This can
be extended to lengthen your stay twice at 60 days each, for a
total of no more than 180 days. If you intend on staying in Portugal
for more than 180 days you will need to submit an application
for a residence card before your 180 days are up.
When you come to Portugal to retire you will not be given a work
permit. As an unemployed resident of Portugal you will be required
to prove that you have sufficient financial resources to support
yourself and any dependants while in Portugal without taking up
employment or starting a business. You will need either a statement
from a Portuguese bank showing that you have at least 3,000 Euros
in an account or a letter from a Portuguese bank manager testifying
to the fact that you regularly transfer in money equivalent to
3,000 Euros.
All non European Union nationals will need copies of past bank
statements as well. If you will be living with a spouse then the
primary breadwinner will have to have a written statement stating
that he or she will be supporting the other spouse or partner.
For European Union nationals, the minimum monthly income you are
expected to have is around the same amount of the Portuguese minimum
wage that is provided to Portuguese citizens on social security.
This amount is around 350 Euros per month. You should note though
that you cannot comfortably live on this meager amount in Portugal
and should plan to need more money to live on from month to month.
European Union nationals that are receiving a state pension from
another European Union country are entitled to receive subsidized
healthcare in Portugal, which include emergency care at no cost.
If you are a European Union national that does not get a state
pension or if you are a non European Union national then you will
need to show that you have your own private health insurance.
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