US News explains why Lisbon is a perfect place for retirement

Affordable and safe, a cosmopolitan city with good weather and nice beaches. As the dollar gets stronger, you should really consider Lisbon as a retirement destination, says US News.

A couple stands while looking at the city of Lisbon

We have mentioned in the past how cool Lisbon is and innumerous reasons to move there. While places like Algarve have already made the headlines as a top destination for retirement abroad, Portugal’s capital should not be forgotten. Here are the top reasons to retire in Lisbon, as US News points out:

Touristic attractions: as one of the oldest cities in Western Europe, this city offers multiple outstanding places to visit, such as Jerónimos Monastery, Tower of Belém and Praça do Comércio.

A charming city: as US News puts it, “Lisbon offers the same Old World cosmopolitan flavor” as other better known European capitals, but with good weather, and pleasant, clean beaches.

Affordability: Lisbon is one of the most affordable capital cities in Western Europe. The quality of life you get compared to the cost of living is unmatchable.

Healthcare: Lisbon ranks high also when it comes to healthcare quality, and counts with some of the best health specialists in Europe. Plus, medical care is considerably more affordable in Lisbon than in the USA. Language is not a barrier: most doctors and medical staff speak English. If you are considering visiting or moving to Portugal and want to better understand how to access healthcare services, we can help.

Safety: Portugal stands as one of the safest and most peaceful countries in the world. Even in its capital, crime rate are low.

Language: There is an established English speaking community in Lisbon, and English is the second most spoken language throughout Portugal.

Cultural and recreational activities are also mentioned by US News, and moving to Portugal is now easier thanks to the Non Habitual Regime and Golden Visa status. You can read the full article – that concludes by describing Portugal as a “welcoming haven”.

There are many other unique characteristics that render Lisbon a great choice for foreign retirees. Keep visiting our blog to learn more.

Portugal in the top 10 best countries to retire abroad

Once again, Portugal is in the news as one of the best places to retire abroad.

During the first days of 2016 were revealed two important rankings regarding the best places to retire abroad: one from Live and Invest Overseas and another from International Living. Both rankings highlight Portugal as great place to retire abroad, as they did for the past few years.

Live and Invest Overseas, considered the Portuguese region of the Algarve as the number one region in the world to retire abroad.

This distinction is awarded to the Algarve for the 3rd year in a row. The Algarve, in the south of Portugal is known for its white sand beaches, low cost of living and large expat English-speaking communities. The Algarve is considered a paradise in Europe where the sun shines all year round with mild temperatures.

International Living put Portugal in the 10th place this year. The country drops one place from last year, but still makes the top 10. Once again categories where Portugal received high scores were Infrastructures, Healthy Lifestyle (this category was added this year), Climate and Cost of Living.

Over the last few years Portugal became a popular destination for foreign retirees. Helped by tax benefits programs – the Non-Habitual Regime for European citizens and the Golden Visa for other nationalities – moving to Portugal was never so attractive to foreign citizens from around the world.

For those considering retiring in Portugal and concerned about their health, Medical Port developed the For Health Card. This card offers discounts in consultations and medical procedures even those that aren’t normally covered by health insurance. For Health cardholders that also have health insurance can benefit from using both when recurring to health services.

Portugal in the top 5 countries with best quality of life

Portugal is ranked as the 5th country in the world with the best quality of life.

Internationally recognized expat website, Internations recently announced the 2015 quality of life index ranking.

The Index includes 64 countries, ranked according to different factors such as leisure, personal happiness, travel and transport, as well as health, safety, and well-being. This year, “affordable healthcare”, “quality of environment” was added as new questions and “political stability” and “peacefulness” was considered individually to reflect new thoughts and feelings.

Portugal jumped 8 places from last year’s ranking where got the 13th place. In 2015, Portugal is the 5th country with the best quality of life index leaving behind countries like Spain, Japan, Germany and many other European countries.

Besides the overall rank, there are four sub-categories, which are leisure options, personal happiness, travel & transport, and health, safety & well-being. Portugal ranked number 3 in the health, safety & well-being subcategory and number 7 in personal happiness.

The first 5 countries are:

  1. Singapore
  2. Ecuador
  3. Austria
  4. Switzerland
  5. Portugal

Below is the full list of the 64 countries analyzed:

 

Quality of Life Index 2015

The 2015 Quality of Life Index confirms that Portugal is one of the best options for expats to live, whether to work or to retire. The country enjoys mild temperatures all year-round, above the average and affordable healthcare and it is an overall safe country to live in and to travel to.

Why many foreigners decide to retire in Portugal

Retiring abroad is becoming a growing trend among many Europeans. With the increased mobility between European Union countries, many pensioners decided to spend long periods abroad looking for a better way to spend their retirement days.

Foreign retirees living in Portugal come mostly from France, the Netherlands, Switzerland, Ireland Poland and Brazil.

It is estimated that more than 177 thousand French citizens are living their retirement in Portugal. Being the 3rd abroad destination choice for French people. Their main motivations are the lower cost of living, the weather and the fiscal advantages.

According to an article in the French newspaper, Capital, for many years the preferred destination for French retirees was Morocco, but in the last few years Portugal has increased as is becoming the new retirement Eldorado. And the choice is quite simple because Portugal has advantages like the political stability, security, fiscal advantages, lower cost of living, good climate and easy living and is relatively close to France.

Since the introduction of the Non Habitual Resident regime that allows European citizens to benefit from tax reductions in Portugal for 10 years – the reason why The Telegraph recently called Portugal a retirement heaven – many have chosen to apply for the regime and rent or buy a property in Portugal.

Two of the main advantages of retiring in Portugal are the climate and the proximity to other European countries. Lisbon is 2 hours away by plane from both Paris and London. To better serve expats living in Portugal, Medical Port developed the For Health Card, a card that provides a privileged access to health, fiscal, real estate and leisure services. Click here to read more about the For Health Card.

The Telegraph calls Portugal the “ultimate pension freedom”

Retire abroad is a dream for many people that live in the UK. They seek a place to spend their retirement with year round sunshine, great food and where their money can be saved. The Telegraph explains how to retire in Portugal and reduce tax spending.

The article refers to the Non Habitual Resident regime created in Portugal, which allows retirees from other countries to move to Portugal and pay no taxes for 10 years:

If you move to sunny Portugal for example, it could be possible to take your UK pension and pay absolutely no tax on it for the first 10 years. This applies even if you withdraw large sums, a move which in the UK could attract crippling tax charges, as such withdrawals are treated and taxed as ordinary income.

This regime has allowed many foreigners to take residency in Portugal when they retire. Making Portugal one of the best places to retire.

The articles also adds that:

To benefit from these rules, retired people would have to plan the move carefully and make sure they meet strict residence criteria both in Britain and their new destination country. And advice from a professional who has experience with the taxation laws of the country to which you intend to move is a must.

Fiscal advice is important to make sure to get the full benefits from the Non Habitual Resident regime. Aware of this concern, Medical Port developed the “For Health Card” to help foreigners willing to move to Portugal providing them with fiscal, real estate, health and leisure services. Cardholders benefit from fiscal advice to help them apply for the Non Habitual Resident regime and take full benefit from the tax-exempt. Learn more about the For Health Card here.

Portugal has plenty of expat retirees; the majority of them are originally from the UK, and they live across the country but mainly in the southern region of the Algarve. Though it is a small country, Portugal has a lot to see and to explore has a retiree. Besides mainland, Portugal has two islands in the middle of the Atlantic, Madeira and Azores that are known for their natural beauty and breath taking landscapes. Recently The Telegraph wrote an article featuring Madeira, one of Portugal’s islands in the Atlantic calling it “the most enviable island on Earth”.

Using Medical Port services, foreigners living in Portugal will be able to get the help they need when booking medical appointments or treatments. A customer care agent that coordinates all the booking details and the medical care with the medical provider will assist them personally. To learn more about Medical Port’s services, click here.

Medical Port launches a new card to serve the needs of foreigners in Portugal

The For Health card is designed for foreigners living or considering moving to Portugal, looking forward to address some major concerns of who lives abroad for long periods of time.

The card provides access to health, real estate, fiscal, and leisure services to foreign residents in Portugal. And results from a partnership between Medical Port, Lusíadas Saúde and Consultan.

According to Belén de Vicente, Medical Port CEO, the goal is “to ensure who moves to Portugal has an efficient and personalized answer to the main concerns and needs in the areas of health care, real state, fiscal and leisure services to assure a comfortable life in Portugal”. The card offers a complete and integrated solution to the various needs of foreigners with the Golden Visa or Non Habitual Resident regime in Portugal.

When buying different services in Portugal, the Foreigners’ Health card gives each cardholder special benefits and discounts.

The fiscal consultancy services include support to arrival, registration and report formalities in the fiscal area. Health services give access to consultations, diagnosis exams, and surgical and non-surgical treatments, from the most diverse medical specialities. Real estate services include support and counselling when searching for a property in the entire country. There are also available customer support and leisure services, such as, concierge, interpreter, Portuguese classes, nutritionist sessions, or wellness programs.

Cardholders can get a 10% discount rate in fiscal services, 15% discount rate in healthcare services and 10% discount rate in customer care and leisure services.

The Foreigners’ Health card offers the access to a set of services and can be purchased by any foreign resident in Portugal or willing to move soon (with the Golden Visa or Non-Habitual Resident status).

To learn more about the For Health card, please go to www.medicalport.org/forhealthdownload the brochure, or contact us directly.

Special benefits for Non-Habitual Residents

Portugal has created a special Non-Habitual Resident Regime (NHR) that offers attractive tax opportunities for foreign pensioners. Those granted with the NHR status can benefit from a special personal income tax regime for a ten-year period.

This regime implies staying in Portugal for more than 183 days every calendar year and the NHR status has to be requested until March 31st of the year after you decide to take up residency in Portugal.

As a way to facilitate access to those interested in obtaining the NHR Status and provide them with exclusive and immediate access to a set of services in the fiscal, healthcare, customer care and leisure areas with specially conceived benefits and offers, Medical Port has created the NHR Card.

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NHR CARDHOLDERS CAN BENEFIT FROM SPECIAL CONDITIONS WHEN PURCHASING THE NHR CARD

  • 10% discount rate in fiscal services
  • 15% discount rate in healthcare services
  • 10% discount rate in customer care and leisure services

NHR CARDHOLDERS CAN ALSO BENEFIT FROM THE FOLLOWING OFFERS

  • Concierge services for all surgeries
  • Portuguese Classes in their first year in Portugal

If you’d like to subscribe the NHR Card or learn more about its offers, visit Medical Port’s website, contact us thru email, phone +351 220 973 751 or by filling out our form. You can download our NHR Card brochure here.