Home 9 Relocation 9 5 Things to Consider Before Relocating to Portugal

5 Things to Consider Before Relocating to Portugal

by | Mar 23, 2022 9:26

Relocating to Portugal: After a while of living in a foreign country, it begins to feel less foreign.

Suddenly, for the first time, you hear yourself refer to it as home, which can be surprising at times. This is a crucial point in the life of any expat, when you truly feel at home in your new country. 

From this vantage point, it can be difficult to recall how we felt before we moved, the doubts and fears that plague anyone considering relocating. However, because there have been so many people who have gone before us, the steps are quite clear.

Prerequisites for Admission

Depending on your nationality, the length of your stay, and the reason for your visit, you may require a visa or be able to travel freely in Portugal with just your identity card.

If you are arriving from the EU/EEA/Swiss, also known as the Schengen Area, you will be able to enter the country without a visa, with the same rights as all other EU citizens – if you intend to stay longer than three months, you will need to request a registration certificate.

You have a number of options if you do not have EU/EEA citizenship. 

The D7 visa works for anyone who can demonstrate that they have a monthly income sufficient to support their lifestyle and are not financially dependent on the Portuguese government. This can take the form of pension payments, income from remote work and freelance work, or any other type of passive income.

If you do not intend on retiring, another option for relocating to Portugal is the D2 visa. It which allows anyone to come to Portugal to start a small to medium-sized business. You would need to provide proof that the business is viable. Plus ou need to have at least €5000 in start-up capital. You can also bring any dependents with this visa.

If neither of these options is appropriate for your situation, the ‘Golden Visa’ may be more appropriate. This necessitates a substantial investment in Portugal, typically through the purchase of real estate. Donating or transferring funds is also acceptable, as is establishing a company employing at least 5 people.

Location

After you’ve determined what you need to do to get your relocation started, you’ll need to decide where you want to live. Although Portugal is not a large country, there is a significant difference in weather between the north and south. And, while it is a reasonably priced place to live, property prices vary greatly depending on location.

Property in urban areas such as Lisbon and Porto will cost much more. Popular holiday destinations such as the Algarve will cost even more. However, further afield, there are attractive country properties to be had for far less than you might expect, and in a compact destination like this, you’re never far from the cultural centers.

Portuguese tax number

The NIF (Nero de Identificaço Fiscal or Nero de Contribuinte) is a tax identification number necessary for all transactions in the country. If you are relocating to Portugal, obtaining this should be your first priority upon arrival. You’ll need it to open a bank account and purchase the property. You can obtain NIFs from your local tax authority.

Finances 

These days, opening a bank account in a new location is as simple as going to the branch office. With a few relevant documents and a minimum deposit, you’re good to go.

However, if your financial situation is more complicated – for example, if you receive pension income or have significant assets outside of the country – there may be more complicated issues to consider, such as tax liability. This, combined with the possibility of a language barrier, can lead to misunderstandings and additional costs on your part.

You can put yourself in the best financial position for your new life in Portugal by speaking with a qualified, independent financial advisor. You may discover, for example, that you are no longer eligible to invest in the types of funds you previously did, or that there are complexities in the double taxation laws on assets you hold elsewhere. It is always a good idea to consult with professionals.

Healthcare

Healthcare is critical to feeling at ease in your new home. The good news is that anyone registered as a resident can register to use the Portuguese national health service (SNS) in the same way that a Portuguese citizen can. Even if you intend to have private health insurance, it’s a good idea to check this off your to-do list.

Source: theportugalnews.com

Related Posts

Digital Nomads – five reasons to consider hiring them

Digital Nomads – five reasons to consider hiring them

Digital nomads can be your new employees of the future. As the labour market continues to evolve, so do the types of employees that companies are looking for. In recent years, there has been a growing trend of digital nomads. Those working professionals who work...

Employee experience – how Global Mobility can enhance this

Employee experience – how Global Mobility can enhance this

The customer is king. This is what businesses have come to understand, whether they are running a small shop or a large company. However, in today’s fast-evolving business landscape, employees are taking centre stage as the backbone of any organization. Holding on to...

5 most common misconceptions about hiring foreign employees debunked!

5 most common misconceptions about hiring foreign employees debunked!

Are you prepared for the war on talent? Or are you at war already? We all know that the skill pool is limited, especially in some industries, and businesses are always competing for talent. Sometimes it's not only difficult but downright impossible to find talented...

4 amazing European countries for a 2023 relocation

4 amazing European countries for a 2023 relocation

It's the start of 2023 and you might be considering a relocation to one of the best countries in Europe. Whether you’re relocating for a job opportunity, higher salaries, or better living standards, considering various European countries is an important step in an...

Expatriate children. Main challenges of moving abroad

Expatriate children. Main challenges of moving abroad

Whether you are preparing to move abroad for work or have already made the relocation, one thing is certain. Parenting doesn't stop just because you changed countries. What's more, parenting becomes even more challenging when...

7 essential skills for a successful international assignment

7 essential skills for a successful international assignment

Is there a secret to having a successful international assignment? Housing, schools, work permits, employment visas, language barriers... With all the hassle and the challenges that come with an international relocation, is there a silver lining? Moving to a new...

Motivated Sellers can get you a Home!

Motivated Sellers can get you a Home!

Home shoppers outnumber home sellers in many places. If you’re a home buyer, you need every competitive advantage you can get. That’s why it pays to know how to find motivated sellers and persuade them to choose you. The definition of “motivated seller” has changed...

The “cultural shock” for digital nomads, is it different?

The “cultural shock” for digital nomads, is it different?

Choosing to move abroad and become a digital nomad can come with exciting experiences, new friends and even a change in job. But it can also be overwhelming. You might find yourself feeling stressed out as you adjust to your new surroundings. During the...

The Pandemic Effect on rentals in St. John, Canada

The Pandemic Effect on rentals in St. John, Canada

Like most places around the world, St. John’s, Newfoundland and Labrador, Canada was affected by the COVID-19 pandemic. The effects spilled over into the long-term rental market, impacting rental demand, price, and availability.   Landlord’s...

Germany’s labour shortage and the Ukrainian workers

Germany’s labour shortage and the Ukrainian workers

The shortage of skilled labour may soon threaten productivity in Germany, and Europe’s biggest economy is now scrambling to make the most of well-trained Ukrainian refugees as Russia’s war on Ukraine enters its third month.  Germany’s labour shortage problem has...

International mobility of apprentices

International mobility of apprentices

The articles on long-term international mobility of apprentices in Europe – written by Cedefop’s ReferNet network – are part of the Cedefop ReferNet thematic perspectives series and complement other available general information on VET systems...

Working Holiday Schemes in New Zealand

Working Holiday Schemes in New Zealand

From Monday 14th of March, employers across the country have access to more workers and the tourism sector will benefit from more visitors with the Working Holiday Schemes (WHS) reopening. This is part of step 2 of the Government’s plan to reconnect New Zealand with...