Last News
31 January, 2022

Portugal is in the top 5 countries for retirees in 2022

Portugal ranked fourth in the International Living magazine's annual Global Retirement Index. The editors of the magazine have been studying the life of retirees around the world for 40 years and choose the 25 best countries.

The index is based on hundreds of opinions and real life experiences. To rate countries, editors poll immigrants about social events, prices, and experiences of living in the state.

Residence permit in Portugal by investment: how retirees can move to the country
Photo: Adobe Stock

Why Portugal becomes the leader of the ranking every year, what are the advantages of living for retirees, how to get a residence permit in the country and when to apply for citizenship: Victor Esik, the head of the Portuguese office of Immigrant Invest, shares his personal experience.

Why retirees choose to live in Portugal

A favorable climate. Portugal is famous for its warm climate. The summer in the country is hot: the air temperature rises to +28 °C. The winter is mild: the average temperature is around +15 °C.

Portugal's climate is good for outdoor physical activity: retirees can walk along the oceans all year round, hike in the mountains and Nordic walking in the parks.

For the 15 years that I have linked my life with Portugal, I have never regretted my choice. The locals are responsive and friendly, always ready to help. Many people speak English, which makes it easier for immigrants to integrate into society.

Victor Esik, the head of the Portuguese office of Immigrant Invest
Victor Esik
the head of the Portuguese office of Immigrant Invest

A developed infrastructure. Portugal has a well-developed train and bus system. Locals love to ride trolleybuses. The country has good roads, it is easy to get to any city in Portugal and the European Union. Portugal is located next to the Atlantic Ocean, so the country has many sandy beaches, promenades and marinas. The cities have a lot of greenery, parks and recreation areas.

A low cost of living. If we compare Portugal with other European countries, such as Austria, then the prices for food and household goods in the state are one and a half to two times lower. For example, a three-course dinner for two will cost €30, and in Austria it will cost about €50.

About €2,700 per month is enough for two people to live comfortably in Portugal.

Residence permit in Portugal by investment: how retirees can move to the country

There are hiking trails with places to rest in the mountains of Portugal

Residence permit in Portugal by investment: how retirees can move to the country

Baleal Beach is one of the most beautiful beaches in Portugal. All surfers, often including retirees, gather here

Residence permit in Portugal by investment: how retirees can move to the country

There are cafes and restaurants on the streets of Portuguese cities, and the local cuisine combines the traditions of both indigenous people and immigrants

An affordable medicine. Citizens and residents of Portugal are treated free of charge in public hospitals. In private clinics, you can get an appointment faster, and paid insurance covers part of the costs or the full cost of treatment.

A good ecology. Portugal is in the top 30 countries with high levels of environment conditions, public health and the effectiveness of state policy in the field of ecology. The Environmental Performance Index is compiled by the Center for Environmental Policy and Law at Yale University.

Safety. Portugal is also one of the safest places in the world, ranking fourth in the Global Peace Index 2021. The crime rate in the country continues to fall: in 2020, the lowest number of offenses in the last 30 years was recorded.

Several options for obtaining a residence permit. Retirees can obtain a residence permit by family reunification and naturalization, as well as if they confirm a sufficient level of passive income or take part in an investment program.

How to get a residence permit in Portugal by investment

Wealthy retirees prefer to obtain a residence permit in Portugal under the investment program, the Golden Residence Permit Program.

To obtain a residence permit, retirees choose one of the eight investment options:

  • a purchase of real estate worth at least €500,000;
  • a purchase of real estate older than 30 years for renovation, worth at least €280,000;
  • a transfer of capital to Portugal of at least €1,500,000;
  • a purchase of shares in investment funds worth at least €500,000;
  • investments in scientific projects from €500,000;
  • investments in culture and art from €250,000;
  • an opening of a business and creating five jobs with investments of at least €500,000;
  • an opening of a company and creating 10 jobs, the amount of the minimum investment is not set.

The purchase of real estate is the most popular option among investors. The object is allowed to be sold after 5 years, which means that the investor will be able to return the money. If desired, real estate can be rented out for an additional income.

Property examples for purchase under the Portuguese Golden Residence Permit Program

How to get a residence permit in Portugal for the purchase of real estate

Apartments in a residential complex in the Virtudes area, Funchal. The price starts from €525,000

How to get a residence permit in Portugal for the purchase of real estate

Apartments in a hotel in a spa resort in Monchique. The price starts from €280,000

Portugal golden visa property: an example of apartments for purchase

Apartments in a residential complex on the island of Madeira. The price starts from €215,500

Portuguese residents travel around the Schengen arearnwithout visas and can stay in any state of the region for up to 90 days in half a year. Together with the investor, members of his family can obtain a residence permit: a spouse, children under 26 years old and parents over 65 years old.

The investor and his family are entitled to apply for Portuguese citizenship after five years of holding a residence permit card. To obtain a passport, an applicant needs to provide the following documents:

  • an identity document, such as a residence permit card;
  • a birth certificate;
  • a police clearance certificate;
  • a certificate confirming knowledge of the Portuguese language;
  • a completed citizenship application form.

The Portuguese passport gives its holder even more opportunities to travel: you can visit 187 countries without visas, including the USA, Canada, the UK and Australia.

Immigrant Invest is a licensed agent of the residence permit program in Portugal. If you want to move to Portugal or travel around the Schengen countries without visas, please contact investment program experts for advice.

Portugal is in the top 5 countries for retirees in 2022

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