Dreaming of trading in the cool climate of the U.S. for sunny days and an affordable cost of living? Look no further.
If living in a country with medieval castles, cobblestone streets, incredible beaches and "well-developed" healthcare programs sounds ideal, you might consider moving to Portugal.
According to global money transfer platform Remilty, more than 7,000 Americans were living in Portugal at the end of 2021 — double the number living there just three years earlier.
Portugal was also a top place for U.S. expats in 2022, according to Forbes, and the country continues to be known as a hot spot for Americans in 2023.
It was also named one of the 20 best countries for Americans who want to live abroad by Travel + Leisure.
According to Digital Emigre, the cost of living in Portugal is one of Western Europe's lowest.
Using data from Numbeo, a single person's estimated monthly costs are 612.7 euros (about US$669.42) without rent in Portugal, with rent for a one-bedroom outside the city centre costing around 594.18 euros (US$649.18) a month.
When compared to the monthly cost of living in the U.S., which Numbeo puts at about $1,117 without rent, Portugal is considerably more affordable.
In Portugal, you can fill your spare time with visits to historic churches, spectacular beaches, and cool cafes.
While Lisbon is a popular place to stay, those looking to move may also want to consider Porto, which is said to have lower rent prices and is known as a manufacturing and textile hub, or Portugal's Algarve coast, which offers around 300 days of sun each year.
Most Americans will need to apply for a residency visa to stay in Portugal for longer than 90 days. For stays less than 90 days, no visa is required.
The most common type of residency visa that Americans moving to Portugal get is the D7 Visa, which, according to Get Golden Visa, allows non-EU/EEA/Swiss citizens with a "reasonable net regular passive income" to apply for residency in Portugal.
To apply for this visa, you have to have evidence of passive income (like investments) that must be at least the minimum salary required in Portugal (8,460 euros or about US$9,273.39 per year).
You'll also need to be able to prove that you have accommodation in Portugal by showing a rental agreement or proof that you have a property in Portugal, and have a clean criminal record.
You can find the application for this visa on VFS Global.
Portugal also offers a digital nomad visa. Launched earlier this year and officially called the "residence visa for the exercise of professional activity provided remotely outside the national territory," the visa allows remote workers to live and work in the country for up to one year, with the option to extend the visa up to five years.
To qualify, applicants must earn at least four times Portugal’s minimum wage, which works out to be at least 2,800 euros per month, or US$3,069.
Applicants must also come from a country that's not in the EU or EEA and be either self-employed or employed by a company based outside of Portugal.
Applications can be made through a Portuguese Consulate or at Portugal's immigration agency, Serviço de Estrangeiros e Fronteiras.
The best part about a move to Portugal? You could get paid for doing it! The country's Inland Employment Plus program welcomes foreign expats as well as citizens who are willing to move to Portugal's interior regions, a list of which can be found on real estate consultancy platform Pearls of Portugal.
The program provides one-time financial support of up to 4,827 euros (about US$5291) to anyone who decides to move to the interior regions, including those who move with the intention of working remotely.
According to the Portuguese government, citizens who left Portugal after 2015 and have lived abroad for one year or longer are also eligible.
This Is The Best Country For Americans To Live Abroad In & You Can Get Paid To Move There
Source: News Article Viral
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