The cosmopolitans flock to Portugal due to a variety of reasons including the warm climate, safety, and opportunities for business. Let’s take a look at the primary benefits that come with moving to Portugal.
Warm climate. Portugal is a warm climatethat is different depending on the region: the southern region is more dry, the northwest is prone to rain and the northeast is known for its long, warm summers.
The month with the highest temperature is August. In Lisbon Lisbon, the mean daily temperature of the day is 27.8. The warmest months for the sea are August and September , and its temperatures vary from 13 to 19 all through the year.
There are mild winters. The average temperature for the month of January Lisbon in Lisbon is 14.7. There isn’t much snow in Lisbon, and, when it does snow, it is quickly melting. It is more prevalent in areas with mountains.
It’s often sunny in Portugal particularly during July, August and September.
Recreation and entertainment. In Portugal there is something for everyone to find an activity or place to their preferences. You can take a dip within the Atlantic Ocean, explore the Serra da Estrela mountain range and explore fortresses or castles. Locals love fishing, surfing, and diving.
Portugal was awarded the 26 World Travel Awards in 2020. The awards were presented for the beaches, tourist attractions and resorts. For instance the Algarve region that is regarded by Portuguese tourists and residents as the perfect spot to unwind on the beach. Portugal was chosen as the top holiday destinations in Europe.
Safety. In the year 2019 Global Finance magazine ranked Portugal as the fourth-safest country around the globe, and in 2020 it was ranked at third place in Global list of peaceful countries.
Portugal has the lowest crime rate. The Portuguese are open and welcoming society and welcome immigrants with warmth and kindness.
A fairly low expense of living. The costs of living Portugal is approximately 60% higher than Russia. But there are other European states, including Austria, Switzerland, the UK and neighbouring Spain costs are more expensive. Comparatively to prices in Europe, in the European Union, life in Portugal is quite affordable.
Education quality. Portugal has a pretty excellent standard of high and intermediate education. Degrees awarded by Portuguese universities are recognized by the European Union, which helps graduates get jobs in other EU countries.
The university programs are conducted by professors in Portuguese in addition to English. But, English programs are not available at every university and are more costly. A bachelor’s degree taught in English in the University of Oporto costs a minimum of $8900 annually and a degree that is taught by Portuguese from Coimbra’s University of Coimbra costs a minimum of EUR 6,340 per year.
Medical quality. Portugal invests around 9 percent of its GDP on health care. Based on the World Health Expenditure 2020 report Portugal is 37th in terms of spending.
Medical treatment is free of charge in public hospitals. The service is accessible to all citizens as well as citizens of the country.
At private medical clinics patients can obtain appointments faster than those in public clinics and you can also get an improved level of care, which includes phone consultations with your physician. Insurance policies for health care that are private will cover a part of the costs or the entire cost of treatments.
The tax benefits available to residents. Foreigners who hold the right to reside in Portugal are eligible for an exemption from taxes under the non-habitual Residence (NHR) Tax status. This status allows you to avoid paying taxes on the income earned abroad provided it is taxed at the source.
The NHR status permits the investor to lower the amount of tax on income to be paid in Portugal. The tax rate on income earned by skilled professionals, like engineers, executives, programmers scientists, artists, and entertainers is cut to 20%, down from 48%..
To qualify for NHR status, one has to become a tax-resident of Portugal which means that you live in Portugal for a minimum of 183 days throughout the year, and then purchasing or renting properties. Tax exemption is available only if you haven’t been an Portuguese tax-resident in the last 5 years.
A special tax status can be granted for a maximum of 10 years.
It is the English language. Since the majority of Portuguese residents speak English and English, one doesn’t require fluency in Portuguese to be able to reside in Portugal.
Life pace. Portugal is a great choice for people who prefer a more relaxed rhythm of living. The Portuguese aren’t usually looking to rush off to where they want to go. Cities aren’t as bustling as cities in Russia and in the US and the UK.
The disadvantages of living in Portugal
There are some disadvantages to living in Portugal are interspersed with its advantages like the climate, or the pace of life.
The necessity to learn Portuguese. In the street in the shops and museums, it is possible to communicate in English. However, in government institutions typically Portuguese is the language spoken. This is why you should master Portuguese at least to the level of conversation.
There are difficulties when paying with cards. In Portugal the bank cards are issued under the Multibanco system. Visa or MasterCard aren’t accepted everywhere. It is important to determine if the international bank card is accepted , and carry cash in your wallet.
In summer, it is hot and humid. It rains in winter. The Portuguese climate doesn’t change dramatically from one season to the next. It rains in winter and there isn’t much snow. In summer, temperatures may rise to as high as 40.
It is not possible to have central heating system. The apartments are cold during winter. It is necessary to purchase heaters to keep warm.
The pace of life. The tranquility typical of Portugal is not suitable for all. The inhabitants aren’t in any rush and are often unpunctual. The shops and restaurants often shut for a period of time during the day, and they are also closed on Sundays.
How to move to Portugal
To move to Portugal it is necessary to apply for the residence permit. Most often, it is granted to people who intend to study or work there or get married to with a Portuguese citizen or carried important tasks for the state.
Portugal has issued residence permits for investments. The process can take approximately six months.
The applicants are given eight investment alternatives. The purchase of real estate worth EUR500,000 would be the largest and most sought-after option. Many applicants also purchase properties for renovation, which costs 350,000 euros.
Beginning January 1st, 2022, investors are no longer in a position to purchase residential properties in the popular resort cities. In exchange, they will receive facilities in the Azores, Madeira and in regions that are not populated.
Foreigners who have the Portuguese residence permit are able to be employed, study, and live in Portugal. They are also able to travel without having a visa in the Schengen states for as long as 90 days of the 180-day period.
Five years after the issuance of a residence permit through an investment plan, the owner will have the option of applying for citizenship or permanent residence.
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