Dreaming of a retirement in the sun?
Portugal, Western Europe’s most affordable destination, offers one of the world’s most attractive residency programmes
Portugal is the 17th most visited country (out of 180) in the world.
The Algarve, a perpetual favourite with the British public, has been voted best Place in the World to retire for 8 years in a row. A recent Living in, Moving or Retiring to Portugal Survey showed that 73% of all Brits who had or were looking to move to Portugal had chosen the Algarve as their new home (please participate in the survey if you are considering Portugal – it will only take 5 minutes).
From January 1st, 2021, British citizens wishing to spend more than 90 days in the EU, in any 180-day period, must obtain a visa. One way to guarantee access without the limits on the time you can spend in Portugal, or the number of times you can enter the country, as well as being able to travel throughout the EU, is to apply for residency.
With the Golden Visa program ending in the more popular (and populated) areas of Portugal at the end of the year, the focus has very much turned to the D7 visa. The income-based D7 visa is ideal for retirees and those with passive investments such as rental income. A variation of this visa is available for entrepreneurs and digital nomads.
One characteristic that all these visas share is that they have flexibility around the proof of accommodation that must accompany the visa application: either a long-term rental (examples on www.algarvelonglets.com), or a property purchase (no minimum amount) is accepted.
The D7 is more advantageous than the Golden Visa, which requires a large investment, and does not accept rentals. A D7 visa requires applicants to spend at least 183 continuous or non-continuous days per annum, in the country. As a result, the impact of a D7 visa is much more positive on the local economy than a Golden Visa, because residents actually spend money in the community in which they live.
Portugal Senior Living has assisted clients from more than 30 countries, including several hundreds of D7 visa applicants, with their move to Portugal. The company has teamed up with other specialist partners to provide a complete solution allowing applicants to fulfil their D7 prerequisites, even at a distance. www.movetoportugal101.com brings these resources together in a single place.
Experience has shown that those moving to Portugal often spend an initial period making sure they choose the right location in which to settle down. This means that many rent for a small period of time, and they purchase a property later. For those planning further ahead, there is an increase in demand for purpose-built, amenity-rich independent living options, allowing residents to remain fully independent but importantly, part of a community.
www.luz-living.com is an independent living retirement community, with wonderful sea views, to be developed in the heart of one of the Algarve’s most upmarket coastal communities, Praia da Luz. The project, scheduled to complete in 2023, offers a low-risk payment plan and an investor option with the potential of a significant return on investment. The site includes a virtual tour allowing residents to visualise the lifestyle and on-site amenities of the project.
To find out more or to request further information on how we can help you settle into your retirement in Portugal, call UK +44 (0) 208 144 7558, e-mail [email protected] or visit one of the sites below:
Senior/retirement living: www.algarveseniorliving.com
D7 visa: www.movetoportugal101.com
Long lets/long-term rentals: www.algarvelonglets.com
Luxury retirement living: www.luz-living.com