IMPORTANT NOTES WHEN PLANNING YOUR MOVE TO PORTUGAL:

  • The job market in Portugal is highly rising and racing at a rapid rate. Tech companies and startups are beginning to thrive phenomenally. Hence, if you are an expert belonging to the online business field or belong to the IT sector, Portugal is the right place for you. In case you are a polyglot, you can actually find the best jobs in the tourist sector that is currently thriving. For other sectors you might need a deeper knowledge of Portuguese language.

     

    Speaking of the salary, the average salary in Portugal ranges between €1,000 and €2,000 depending entirely on the experience, industry and qualifications of the worker. On the contrary, the lowest wage in Portugal is €760 a month. However, it is important to bear in mind that the minimum wages aren’t taxed. Anyone relocating to Portugal from US will only start paying taxes if they earn over the minimum salary.

     

    Every worker needs to contribute to the social security of the country.

    They are taxed at a rate of 11% of your income.

    In return for paying taxes, benefits include:

    • Old Age Pension

    • Invalidity Benefits

    • Unemployment Benefits

    • Maternity And Paternity Benefits

    • Work Injuries and Other Health Condition Benefits

    • Disease and Sickness Benefits

    • Death Benefits

  • Generally, you are required to pay your taxes on all your American earnings in America and Portuguese earning less in Portugal.

    Americans relocating to Portugal from US are obliged to file tax returns for both countries.

    The US asks all the US citizens irrespective of where they live to disclose their worldwide income to the IRS.

    However, it is suggested that you do proper research regarding the Foreign Earned Income Exclusion.

    Moreover, discovering the NHR (Non-Habitual Resident) program in Portugal is highly worthwhile. In case you sign up for the NHR program, you will be exempt from several taxes and will need to pay only a flat rate of 20% on other taxes for a total period of 10 years.

  • Healthcare in Portugal is quite different from many countries like for instance the US.

    The Portuguese government funds the healthcare system due to the contributions made for Social Security by all workers in the country.

    Anyone aged under 18 and more than 65 receives complete free healthcare.

    However, being an expat it is important to know that you cannot enjoy public healthcare benefits as a temporary resident. Of course, there are always exceptions in cases of emergency for which, treatment will never be refused in a public hospital. Therefore, unless you gain your permanent residence, it’s advisable for you to sign up for private healthcare insurance.

    However, one lucky part is, private healthcare options in Portugal are cheaper and will cost you around $440 for a very basic yearly healthcare plan and around $1100 for another extensive coverage .

  • When it comes to renting and buying real estate in Portugal, renting is likely to be more flexible than buying. It will allow you to adjust in the neighborhoods, in the country, and life generally. Moreover, you can even rely on your landlord for all your repairs, maintenance upgrades, and fees. Dissimilar to the US or the UK, landlords are accountable to pay the condo and maintenance fee of their units as well as any taxes related to the property and not the tenants.

    On the other hand, purchasing the property can reveal more profitable in the future, despite the property market in Portugal being currently very expensive because prices aren’t as competitive as they used to be.

    However, bear in mind that you will be solely responsible for dealing with all the fees, taxes, and maintenance issues related to your property.

    Speaking of cost, rents in Portugal are quite affordable. For instance, you can get a one/two-bedroom apartment for around €850-€1,500 per month, while the same property in US per example will cost about $2000.

    Hence, if you are planning on relocating to Portugal for a longer period, say for retirement, buying a real estate property will be highly valuable. Portugal has quite minimal restrictions for buying properties and the entire government encourages the non-Portuguese residents to invest in the real estate market via programs like the Portuguese Golden Visa.

  • Anyone having an American, Canadian or British passport can visit the country straight for 90 days for any business or tourist purpose.

    However, if you are planning to move to Portugal, you need to get a proper residence permit.

    The Portuguese government provides a vast range of visas like work visas, residence visas, and family reunification visas.

    If you stay in Portugal with an accurate residence permit for 5 years, you can apply for permanent residency or Portuguese citizenship.

    The Visa Process

    The most common option to acquire your initial resident permit involves the D7 Visa and Portugal Golden Visa .

    The immigration and border service generally known as Serviço de Estrangeiros e Fronteiras (SEF) in Portugal maintains and looks after all the visa application processes.

    The government allows online applications through their platform. Resident permits can be renewed automatically.

  • The entire system is well set with affordable and excellent quality education.

    Portugal provides free education for all its citizens and residents up to the age of 18.

    In the main cities, you will easily get an international school with an American, Global, or British curriculum.

    The average annual school fee in a private school in Portugal ranges from €6.000 to €20.000 (International schools are usually private and have the higher fees). However, this depends on the curriculum and school as well.

AS FOR THE COST OF LIVING.. HERE’S AN IDEA ..

Source: www.numbeo.com

I KNOW WHAT YOU’RE THINKING ….

SOME DETAILS MORE CHALLENGING THAN OTHERS, BUT GENERALLY GREAT NEWS, WOULDN’T YOU AGREE? …

AND THE BEST PART…

I AM HERE TO HELP!