Portugal: 7 Facts to Know Before Moving

Moving to Portugal: Facts to Consider before Choosing Portugal
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00:00 Portugal is a wonderful country and I believe you probably know that. If you are considering moving to Portugal there are a few things you may need to know before you actually move to the country.

01:15 1 Flexible immigration laws

Portugal is by far the most flexible country in Western Europe when it comes to immigration laws for non-EU citizens.
There are many categories of visa and resident permits that range from self-employed persons and remote workers, to businessmen, to retirees and investors. It is also quite easy to stay in Portugal if you find a full time job.
These policies are helping Portugal to keep its population stable. In the past decade the population of the country started to decline, although slightly. Currently Portugal is showing a slight growth in its population, mostly due to its net migration rate.

02:45 2 High taxes

Portugal is a country with very high tax rates. A good number of expats moving to Portugal can benefit from the Portugal non-habitual residence program, which offers a number of tax advantages for a period of 10 years. This has helped Portugal to market itself as a low tax option for expats but this is highly debatable.
But, do not let yourself be allured by Portugal thinking that it is a low tax country. Most types of income are taxed heavily in Portugal. Portugal uses a progressive tax system at a personal level, which currently ranges from 14.5% to 48%.
Other types of income such as capital gains, rental income and dividends are also taxed at quite high rates.

03:55 3 Portugal’s economy is heavily reliant on tourism.

Another important aspect that you should consider if you are moving to Portugal is that the country’s economy is heavily reliant on tourism. Roughly 20% of Portugal’s GDP comes from the tourism sector.
This has a number of advantages but also disadvantages. If you are coming to work or start a business in the tourism sector, there will be plenty of opportunities in most parts of the country, but especially in the coastal regions and on the islands.

04:48 4 The Portuguese language

The Portuguese language may seem difficult at first, especially considering its complex sounds, but learning it is actually very worth it.
Despite its relatively small size and population (Portugal has approximately just 10 million inhabitants) Portuguese is actually one of the most spoken languages in the world by number of native speakers.

05:52 5 The State of the Portuguese Property Market

If you are moving to Portugal you will eventually have to dwell with the very unique situation that the Portuguese real estate market finds itself in. There are some places with a huge demand mostly from foreign investors which are even out-pricing locals, other places with moderate prices, and some places with very low demand and very cheap prices. Considering the size of the country and how diverse the property market is, this is just extraordinary.
If you are moving to Lisbon I would highly recommend renting instead of buying, as the rental yields are really low, since properties are too expensive. So, you can find great deals as a tenant, but if you own property and want to find a long term tenant your yearly rental yield is going to be very low.
In other cities like Porto, Braga and Coimbra, prices are not that much detached from the local economic reality, so both buying or renting can actually be a good idea.

07:04 6 Salaries / Cost of Living

Salaries in Portugal are lower than the average for Western European standards and much lower than salaries in most large US cities. So if you are coming to Portugal to look for a job, bear that in mind. However, the cost of living in Portugal is the lowest in Western Europe, so even if your salary is not particularly high, you can still have a high quality of life, especially if you don’t have to pay rent.
If your income is remote and you work for an US, Canadian, Australian or UK company, you will be able to have a very high quality of life even if your salary is not impressive for US standards. So overall, Portugal is not a place with great salaries, but a place with excellent cost of living.

08:15 7 Weather

Portugal has one of the best climates in Europe, and possibly in the world. The country has 4 very well defined seasons, but days of extreme weather are less common in Portugal than in most countries in Europe.
The climate of Portugal is better than in most European countries due to its geographical location. The influence of the Atlantic Ocean on the weather helps to minimize temperature amplitudes throughout the year. That, combined with a lower latitude for Europe, allows Portugal to have relatively mild weather.

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