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.
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.
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.
Financial Advisor magazine says Portugal should be the first choice for Americans to retire, outside of the United States.
As life expectancy grows, the number of retirees of wish to spend their retirement abroad rises. For those Americans who dream of retiring abroad, the choice of the ideal place may be difficult to make. Proximity to the home country, cost of living, language, safety and climate are some of the aspects prospect retirees must take into account when choosing their retirement spot abroad.
Financial Advisor magazine says Portugal, specifically the Algarve region should be the top choice for Americans to retire and there are plenty of reasons to support this statement: “Portugal, takes top honors, thanks to its low cost of living, low cost of real estate, great weather, established expat community, new retiree residency program and endless options for how to meaningfully fill the days and evenings.”
The magazine article adds another two very important reasons why Americans should chose the Portugal for retirement:
- English is widely spoken which makes it possible to live in Portugal and speaking only in English – this may be especially advantageous for older people who don’t want to learn a new language.
- Portugal is “one of the safest places on earth right now” to live and also to visit as a tourist.
Portugal has been considered for the past few years as one of the best places to retire abroad and the Algarve region was named twice as the best region to retire in the whole world. Click here to read the latest news about why Portugal is a great place to retire.
For Americans Portugal holds another advantage: it is the closest European country from the United States and daily 6-hour flights can take Americans to Portugal.
Read the entire Financial Advisor article, here.
According to a report from Henley & Partners, the global leaders in residence and citizenship planning, Portugal’s Golden Residence Permit Program is the world’s best residence-by-investment program in 2015.
This program allows foreign citizens to invest in Portugal and obtain a residence visa.
Among the 19 residency programs for foreigners analyzed by Henley & Partners, the Portuguese one is the one that offers more advantages to foreign investors. Portugal is followed by Austria (2nd place) and Belgium (3rd place).
The programs were ranked according to 10 indicators: Reputation, Quality of Life, Tax, Visa Free Access, Processing Time and Quality of Processing, Compliance, Investment Requirements, Total Costs, Time to Citizenship and Citizenship Requirements. Portugal ranked highest on “Total Cost” meaning the initial investment required is lower when compared to other programs. Portugal shared the top spot with other countries in the following indicators: “Tax”, “Visa Free Access”, and “Processing Time and Quality of Processing”. Meaning that foreigner investors have light tax burdens and the processing procedures are quick and efficient.
Some of the reasons to move to Portugal, according to Living in Portugal:
- Great climate with an average of 3300 hours of sunshine per year, one of the highest rates in Europe
- The satisfaction of 80% of the tourists who visit the country and want to come back
- The average housing prices in Portugal are very competitive compared to the main European cities
- Taxation is light on foreigner investors as Henley & Partners already highlighted in the report
- Portugal is ranked as the 17th safest country in the world among a list of 153 countries
Medical Port serves foreign residents’ healthcare needs through the For Health Card, a card that gives access to the top private healthcare providers in Portugal with discounts and specialized services. To learn more about the For Health Card please visit our website.
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:
Below is the full list of the 64 countries analyzed:
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.