Last Updated on February 27, 2023 by Maryam Siddiqui
Many choose to prolong the summer of their lives in sunny Portugal, where warm, stable weathers meet heartful smiles and decades-long engrained hospitality. In this article, let’s dive into the main perks of moving to Portugal.
Portugal is not just about beauty and culture. It is a country that offers good public healthcare and international schools – so it is easier for expats to adjust. To make living better, cities like Lisbon, Porto, and Algarve are industrial hubs of Portugal with a plethora of job opportunities.
Join us and fall in love with this beautiful country. Check out what makes relocating to Portugal one of the best decisions you could ever make! Happy reading.
Why are expats moving to Portugal?
The diverse cities offer a distinct feature that makes it easier to choose your pick. But no matter where you are, living in Portugal is considered to be a financially feasible option for expats.
If you’re looking for a quiet post-retirement life, then northern Portugal’s peace and serenity might just be the place for you. While cities like Lisbon and Algarve are preferred for their city-hustle-bustle.
While working in Portugal, expats rarely have to worry about how to commute. The buses and metro in these cities are reliable and affordable for routine travel. And Porto is gaining popularity amongst expats for its affordable living.
For those that seek fruitful returns for their assets, Portugal also offers investment opportunities, and property prices remain to be lower than in the rest of Europe. These are just a few reasons why expats are moving to Portugal!
Portugal is prepared for the international community
The country has been, historically, the meeting port of Africa and America with Europe and, with our history of colonialism and mass worldwide trade routes that extended from Lisbon to Goa to China, effectively connecting the world, we are known to be tolerant with all religious and cultural creeds.
Portugal soon owned its status as a small nation of welcomers, and there is a statistic that proves it, and that may very well surprise you: it is estimated that 25% to 33% of Portuguese natives are fluent in English.
This number is whooping, compared with the same numbers regarding countries with similar conditions: Italy, Spain, and Greece.
We know that, statistically, most expats who choose Portugal to speak English are either British or American, so these numbers must be interesting, to say the very least.
This happens because English has been a compulsory class since the 3rd grade; most of our cultural consumption is that of English (British and American) entertainment (TV, Movies, Video-Games, even books), along with subtitles, which allows us to pick up not only the meaning but sometimes even the slang.
You will always find someone who can help you in the tourist region (Algarve, Porto, Coimbra, etc.), but even in the less populated regions, you are statistically prone to meet someone with at least some proficiency in the English language.
Excellent quality of life
Portugal isn’t only a great place to travel but also a great place to live. The quality of life in Portugal is worldwide famous and one of the main perks of moving to Portugal.
This is not the only upside of living in Portugal: according to the OECD, which ranks countries from 0 to 10 in several categories, some of them stand out:
- Safety: 8.9/10
- Environment: 6.4/10
- Work-life balance: 8.1/10
In these particular categories, Portugal stands out, again, from most of Europe, proving to be a wise decision when it comes to the prospect of a stable, safe, and healthy daily life.
Also, according to the Global Peace Index 2022, Portugal is the 6th safest country in the entire world. Except for some pickpocketing events in central Lisbon every once in a while, days in Portugal are calm and safe. There is political stability, good and cheap public healthcare, and also good public education.
Portugal is an emerging tech hub
If you are into business and technology, Portugal has a lot to offer. Lisbon, Porto, and Cascais are on the rise when it comes to economic growth. These cities have a highly skilled workforce.
The country has a high number of university graduates in science, technology, engineering, and mathematics (STEM) fields, providing a strong talent pool for tech companies.
The growing tech spaces make it an attractive destination for expats as well. Lisbon has become a hub for startups, with a growing number of co-working spaces and tech events.
The Portuguese government has implemented policies to support entrepreneurship and innovation, which has led to several startup incubators and accelerators.
Portugal’s tax environment is favorable for tech companies. To top it off, it is a member of the European Union, which gives companies access to the wider EU market. In recent years, some multinational tech companies, such as Google, Amazon, and Uber, have opened offices in Portugal!
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Excellent quality of education for expats
Next up on the list of perks of moving to Portugal is the plethora of educational options available for expat families. Portugal has public schools and private international schools that aren’t too pricey and have good quality.
Public schools generally follow a universal agenda, which makes it easy to follow. A huge perk of the public schools is that these are free of cost and familiarize you with Portuguese culture.
However, if you are new to Portugal and not yet fluent in the language, then International schools may be a good choice.
- The British School of Lisbon
- Vilamoura International School Algarve
- Lycée Français International Porto
Listed above are three top-rated international schools in Portugal. Their modern buildings, equipped resource centers, and qualified teachers encourage a healthy educational environment among students.
Low cost of living for digital nomad expats
Digital nomads in Portugal get to keep their jobs and income from abroad while enjoying Portugal’s low cost of living.
It’s well known that Portugal is not a wealthy country. Historically, Portugal industrialized rather later than its European pairs and, due to the size of the country, mass production, even when we talk about agriculture, cannot compete with the worldwide capitalism paradigm.
In 2023, the minimum wage is €760 per month, a value received by almost 25% of the Portuguese population, according to government data. Salaries in Portugal aren’t high, which explains the cost of living isn’t high as well.
No surprises, foreigners here find everything cheap. After all, the cost of living in Portugal has to be much lower than in countries like the UK, the United States, and Canada.
This doesn’t mean there aren’t high-paid jobs to find in Portugal. But especially, it’s very fruitful to work in Portugal remotely.
Many expats work for companies in their native country while taking advantage of the low cost of life in Portugal.
But now take the numbers of a smaller pleasure of life: an espresso coffee. While you pay £3 in England, you pay €0.60 in Portugal.
And when it comes to the smaller pleasures, Portugal is full of bargains that will make you save monthly, and still lead a comfortable life spending more or less the average Portuguese wage.
- Thinking of working remotely in Portugal? Check out how to get The New Visa For Freelancers And Digital Nomads In Portugal.
But if you, on the other hand, come to enjoy your retirement, you can live a great life here. Most expatriates who come to live in Portugal come to enjoy life as retirees. The D7 visa, designed for these people, greatly facilitates the immigration process.
Receiving money from abroad
There is a lot to consider when you move money around. There will always be transfer and bank fees, along with foreign exchange rates, that can vary, sometimes absurdly, depending on the provider you choose.
When it comes to choosing, these are not the only factors: safety and speed, and how much you are going to transfer, are always primary parameters to choosing the best service.
Transferring money services vary due to the confluence of all the circumstances described above: maybe If you want to receive the money quicker, you will pay extra fees.
If you want to move a lot of money, it may be wiser to prefer safety to speed. There are a lot of things to consider, and financial help should be considered.
Fortunately, Portugal’s banks are quite qualified, are modernized, and offer a personalized service that will make it easy for you to manage your finances.
Tax benefits
Expats need to consider residency in terms of taxes because this factor will make the situation of taxation somewhat distinct: to be considered a resident, for tax purposes, you need to reside in Portugal for 183 days/year or have a permanent residence in Portugal.
Double taxation is, of course, a great threat, but it may be just a big paper tiger. Portugal has plenty of treaties to accommodate expats without messing with their finances. Another perk of moving to Portugal is taking advantage of the Non-habitual resident tax regime.
The ideal move to consider, if you consider moving to Portugal (redundancy intended), is to consult a financial specialist, but there is some widely available information, namely:
- If you are an expat who does not reside in Portugal, you will only be taxed by the amount you earn within Portugal.
- Resident expats working for a Portuguese company, employer, etc., will be subjected to a sliding scale based on their worldwide income.
This, nonetheless, is just a drop-size touch on the surface of financial nuances that need to be contemplated, but overall, you can have this information as a general practice guide.
- Consider reading the Frequently Asked Questions on Taxation in Portugal for more insights.
There’s always something fun to do
Portugal is known for many things, but the top thing remains all the fun it entails! And that’s one of the many perks of moving to Portugal. No matter what time of the year it is, there’s always something fun to do here, and this is exactly where tourists love it.
From carnivals and parades to religious celebrations and lots of traditional dancing, the country is always up to something that keeps locals, tourists, and expats immersed in the local culture.
The year starts with mild winters simmering down to welcome spring and Easter with Carnival celebrations. These consist of folk music, traditional dancing, and parades which continue for several days.
The celebrations take place in all major cities. One of the most striking features of Portugal’s Carnival is the costumes. These range from traditional, handmade costumes to more modern and creative outfits.
Two traditional celebrations include the Popular Saints Festivals and Christmas, which are two of the most important and widely celebrated holidays, shortly followed by New Year’s Eve celebrations.
Whether you’re a local or an expat, these celebrations offer a chance to experience the unique and vibrant traditions of Portugal.
If you choose Portugal…
You are choosing a modest country, multifaceted and rich in history in culture. Also, you are choosing a country that, as modest as it is, offers a reasonable price of living that should positively affect your finances. There are endless perks to moving to Portugal.
But, above all, you’re choosing to share the land with kind, hard-working, festive folks that will accept you as their own.
If you’re interested in getting to know other people in the same adventure, consider joining our Facebook Group – All About Portugal For Expats. Relocating abroad is a life-changing journey, one that is worth sharing.
Also, if you need any help during any stage of your move to Portugal, you can count on the assistance of Viv Europe’s professional team. Let’s turn your Portugal project into a reality.
