The Washington Post’s financial guide to retire abroad

Following our previous blog post about why Americans should retire to Portugal (click here to read it), we are now sharing an article from The Washington Post with a financial guide to retire abroad.

Plan a retirement abroad requires careful planning and many places can be cheaper than the United States.
The financial guide from The Washington Post includes the following topics that prospect retirees should take into account before making the decision:

  • Easy residency programs for foreigners – In Portugal, the Golden Visa residency program makes it easy for foreigners to buy property and establish residency in the country with tax benefits
  • Cost of living and lifestyle – “(…) in the Algarve region of Portugal, named the most attractive place to retire abroad by Live and Invest Overseas, a retiree could live on $1,410 a month, including $600 for rent.”
  • Healthcare – Medical Port can help you with this. We have special healthcare solutions for foreign residents in Portugal that have health insurance or not. The For Health card is a solution for those foreign citizens who live in Portugal and have healthcare needs that aren’t usually covered on health insurances.
  • Bank accounts – It is advised to keep a bank account in the home country and another in the country where you are retiring.
  • Social security – Portugal is one of the countries where American citizens can move and still receive their social security benefits.
  • Pay taxes – Retirees will still need to pay taxes in the United States.
  • Buy property – While some countries make it hard for foreign citizens to buy property, others – like Portugal – make it easy like any other national citizen would.

Spend the retirement years in a foreign country is an exciting idea for many Americans who look for better weather, affordable cost of living and the opportunity to experience a new culture.

Portugal is becoming increasingly popular as a retirement destination and has received for the past few years the top places on the best retirement abroad rankings (click here to read more about it).

To learn more about Medical Port’s solution for healthcare for foreign citizens in Portugal, the For Health card, click here.

Read the full article on The Washington Post, by clicking here.

 

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Tourists from the United States are traveling to Portugal as never before

Portugal has seen a great increase in American tourists in 2015 and the numbers continue to rise in 2016.

Travel Pulse magazine highlights that Americans are among the top nationalities that most recently visited the country. That is why the Portuguese Tourism board set the promotion of Portugal in the United States as a priority. The Portuguese Tourism Board believes that the satisfaction that American visitors get from visiting Portugal is the greatest drive of new tourists, since those who enjoyed their time will tell family and friends to plan a trip too. Also the value for money and the proximity to North America are likely to drive the interest of tourists.

Portugal’s capital Lisbon, offers world-class luxury hotels at affordable prices when compared to other European capitals and flights from New York City to Lisbon take around 7 hours or less. Travel Pulse adds:

One sign of the country’s soaring popularity is the fact that it’s nearly impossible to narrow down five must-see locales within this small country. The Azores are a must, Porto can’t be missed as the birthplace of port wine, the Algarve is mesmerizing and Lisbon is the country’s cultural hub – but there’s so much more.

The increase in American tourists in Portugal can also be explained by an increase in overall tourism in the country. In 2015 a record number of foreign tourists stayed in Portuguese hotel, more than 10 million visitors came to the country, according to Portuguese National Statistics Institute. The fact that Portugal is a safe destination right now is also making the number of tourists to rise and 2016 is already expected to break new records.

Read the full Travel Pulse article here.

 

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Esquire magazine names Lisbon one of the coolest cities in Europe

A recent article on Esquire magazine states “Why Lisbon is one of the coolest cities in Europe” to visit right now and why it shouldn’t be underestimated.

The article recommends places to visit and things to do that aren’t likely to be in other city guides.

According to the magazine: “Lisbon does distinct districts beautifully, with the formality of the central Praça do Comércio (created after the earthquake of 1755) flanked by the winding lanes of the Alfama, the city’s centre under the Arabic occupation of Iberia, and the once-seedy and now achingly cool dockyard area of Cais do Sodré.”

The best places to stay are Bairro Alto and to eat there is the renewed Mercado da Ribeira for a relaxed lunch, and Belcanto the two Michelin star restaurant owned by the Portuguese chef José Avillez to learn how the former colonies influenced the Portuguese cuisine and provide a unique dining experience.

The magazine advises visitants to appreciate the street art all over the city, highlight the works of Portuguese street artist Vihls. For those who want to explore further, they can from Lisbon go surfing in Cascais (about half an hour) or to hang out on the beach in Comporta (about an hour south of Lisbon).

Lisbon city guide by Esquire Magazine
Lisbon city guide by Esquire Magazine

Readers are advised to visit Lisbon because “There might not be a cooler city in Europe at this precise moment (…).”

Click here to read the full article on Esquire Magazine.

 

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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.

 

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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.

 

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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.

 

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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.

 

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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.

 

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Medical Port launches a new product designed for Non-Habitual Residents in Portugal; the NHR Card.

Medical Port launches a new product designed to offer Non-Habitual Residents an integrated solution to answer their needs whilst in Portugal; the NHR Card.

Medical Port | Premium Medical Tourism Facilitator, in a joint effort with its partners, has launched a new product that gives its subscribers exclusive and immediate access to a set of services in the fiscal, healthcare, customer care and leisure areas with specially conceived benefits and offers to the cardholders.

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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 in the Top Private Hospitals in Portugal
  • 10% discount rate in customer care and leisure services
  • Concierge services for all surgeries
  • Portuguese classes

The NHR Card aims to simplify the holder’s life whilst in Portugal, by addressing some of his or hers major concerns, in an integrated way and with privileged conditions.

For all the details and offers in the Fiscal Consultation Services, Medical Care, Welness, Leisure and General Support Services visit the dedicated area at medicalport.org/nhr.

THE NON-HABITUAL RESIDENT REGIME

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.

 

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