How to Move to Portugal and Get Residency: Costs and Requirements

Portugal is a popular destination for those looking to move to Europe. Its pleasant climate, high quality of life, and attractive tax policies make it especially appealing to wealthy individuals. If you’re considering making Portugal your home, it’s essential to understand the residency options, the costs involved, and the steps required to make the move.

Alina Mishurenko, editor-in-chief, content creator, and Investment Programs Expert at Immigrant Invest provides a clear overview of how to get Portugal Golden Visa, including the best visa options, the costs, and the process involved.

9 Benefits of Living in Portugal

1. High quality of life. Portugal offers a relaxed lifestyle with beautiful landscapes, a strong sense of community, and access to a robust healthcare system. Whether you enjoy living near the coast or in a city, Portugal has a lot to offer people who want to relocate to Portugal from the USA.
2. Low cost of living. Compared to other Western European countries, Portugal offers a lower cost of living. Housing, food, and transportation are all relatively affordable, especially in comparison to countries like the UK or France.
3. Good climate. Portugal is known for its mild Mediterranean climate, offering pleasant weather year-round. Summers are warm but not overly hot, and winters are mild, making it an ideal place for those who enjoy a comfortable climate.
4. Language and ease of integration. Portuguese is the official language, but many locals speak English, particularly in tourist areas, making it easier for foreigners to settle.
5. Great location for travel. Portugal’s position on the edge of Europe provides easy access to other European destinations. It’s well-connected by air, rail, and road to countries across the continent.
6. Safety. Portugal ranks as one of the safest countries in Europe, with a low crime rate and friendly locals who welcome newcomers.
7. Modern infrastructure. The country boasts modern infrastructure, including excellent healthcare, education, and public transportation systems.
8. Strong expat community. Portugal has a large community of expatriates, particularly in cities like Lisbon, Porto, and the Algarve region. This makes it easier to settle in and connect with other like-minded individuals.
9. Path to European citizenship. As a resident of Portugal, you may eventually qualify for Portuguese citizenship in 5 years.

Key Steps to Move to Portugal

1. Choose the right visa. Before you start your move, determine which visa is best for you. This will depend on your financial situation, employment status, and long-term goals in Portugal.
2. Prepare the necessary documents.For most visa applications, you will need to provide proof of income, a valid passport, background checks, and health insurance. You may also need to show proof of accommodation and your investment (if applicable).
3. Submit your application. Once you have all your documents in order, you can submit your visa application to the Portuguese consulate in your home country. This process can take several months, depending on the type of visa you are applying for.
4. Wait for approval. After your application is submitted, you will need to wait for approval. The Golden Visa typically takes several months to process, while other visas, such as the D7, may take less time.
5. Relocate to Portugal. Once your visa is approved, you can move to Portugal and start your new life. This may include finding housing, opening a bank account, and registering with the local authorities.

Best Ways to Move to Portugal

The Golden Visa is one of the most popular residency options for wealthy individuals looking to move to Portugal. It is an investment-based visa that allows foreign nationals to gain residency by making a qualifying investment in the country of at least €250,000. This can include investment in culture fund units purchase, creating jobs, or investing in business projects.

The D7 Visa is for individuals with a stable income of at least €870 per month from sources such as pensions, rental income, or investments. This visa is ideal for retirees or those with passive income who wish to live in Portugal without having to work.

The Digital Nomad Visa, introduced in 2022, allows remote workers and entrepreneurs to live in Portugal while working for foreign companies. Applicants prove a minimum income of €3,280 per month.

This visa is a great option for those who wish to combine the benefits of living in a European country with the flexibility of working from anywhere.

Costs of Moving to Portugal from the USA

The cost of applying for a visa to Portugal varies depending on the type of visa. For example, the Golden Visa requires a significant investment starting at €250,000, whereas the D7 Visa may involve lower upfront costs but requires proof of sufficient income.

Real estate prices. For those looking to buy property in Portugal, prices can vary widely. In Lisbon and Porto, property prices are higher compared to rural areas. On average, real estate prices range from €1,500 to 5,000 per square meter, depending on the location.

Living expenses. While the cost of living in Portugal is lower than in many Western European countries, it’s important to budget for housing, utilities, groceries, and transportation. Monthly living expenses for a single person can range from €1,000 to 2,500, depending on the city and lifestyle.

Healthcare costs. Healthcare in Portugal is affordable, with both public and private options available. Expats often opt for private health insurance, which typically costs between €50—200 per month, depending on the coverage.

Additional costs may include legal fees, which can range from €500 to 2,000 depending on the complexity of your case, as well as translation and document authentication fees.

How to Move to Portugal as a Non-EU Citizen: Step-by-Step Process to Obtain Golden Visa

1. Choose an investment option. The first step to obtaining a Golden Visa is selecting an investment option. You can invest in real estate, start a business, or make a capital transfer. The minimum investment required starts at €250,000.
2. Prepare documents. You’ll need to gather documents such as proof of funds, a valid passport, and evidence of the investment.
3. Submit the application. Once all documents are in place, submit your application to the AIMA, Agency for Integration, Migration and Asylum of Portugal. You may be required to attend an interview.
4. Receive residency approval. If your application is approved, you’ll receive your residency card. You must visit Portugal for at least seven days per year to maintain your residency.
5. Permanent residency and citizenship. After five years of residency, you may apply for permanent residency or citizenship in Portugal.

Conclusion

Portugal offers various residency options, with the Golden Visa being one of the most popular for wealthy individuals. Whether you’re planning to invest in real estate, work remotely, or retire in Portugal, the country provides a welcoming environment with attractive benefits.

By following the steps outlined in this guide, you can start your journey to becoming a resident of Portugal and enjoy all the advantages this beautiful country has to offer. For more information and personalized advice, get in touch with an immigration expert.