retiring in portugal from south africa

Wherever you go, South Africans are friendly, warm and welcoming. Too Much Sand for my Truck building, living and even staying sane in a foreign land; Latest Expat Interviews/ Articles There are currently no expat interviews with South African Expats living in this destination. However, there is a tax-busting alternative in one of Europe’s top lifestyle destinations: Portugal. This means that you can effectively live tax-free off the proceeds of your invested assets for a decade, all while also enjoying the sunny cosmopolitan lifestyle Portugal offers. We provide several metrics to compare the cost of living including cost of groceries, transportation, and more. Corruption is (Unfortunately) a Fact of Life. The world is changing fast and to keep up you need local knowledge with global context. Depending on where you opt to eat out, the cost of restaurant meals can be very comparable to restaurants in Cape Town. You'll be able to access high-speed internet in most of the country, and … The combination of historical family ties with a welcoming immigration system has helped the growth of SA expats in various spots around the country. FAQS ABOUT SOUTH AFRICAN RETIREMENT VISA APPLICATIONS . This includes pension income and income from international sources. In 2009, the Portuguese government introduced the NHR programme to attract wealthy non-EU residents and their families to the country. Portugal has opened its arms to South African retirees by offering attractive tax exemptions and savings. We recommend thinking this over carefully because the process is long and laborious of buying property in a foreign country. Those retiring to South Africa who are receiving a South African pension, you will be liable to pay tax on annual earnings above R114,800 and at least 18% tax on lump-sum payments above R500,000. Yet if you’re used to shopping at Woolworths as a South African, you won’t notice a material difference when shopping for groceries in Portugal. You probably don’t want to repeat the process many times if you’re considering retiring in Portugal. As of the beginning of 2021, foreign retirees seeking settlement in Portugal have various options for obtaining a residency visa and eventual permanent residence leading to Portuguese citizenship. The country offers an extremely attractive taxation regime, with companies established in Malta benefiting from a variety of tax-refund schemes. Under the NHR programme, certain types of income – including income from a pension, interest, dividends and royalties – are exempt from any tax in Portugal for a period of 10 years. Portugal nestles on land up against Spain and with the Atlantic Ocean to the west and south, where Casablanca and Morocco lie 400 kilometres away. Retirees can take two routes when considering what application to make for retiring in South Africa: A retired permit: which can be made on a temporary or permanent residency basis. Residents in Portugal can receive free healthcare and have access to a range of services. Retirement in Portugal Portugal is a popular retirement destination for people from all around the world, especially Britons. Subscribe to our Newsletter to get daily updates on local affairs, with a global context. Inheritance law in Portugal recognises foreign wills, even if they don’t relate to assets and property in Portugal. Portugal offers arguably the lowest cost of living in Western Europe. Staff Writer 15 April 2018 Tax-battered wealthy South Africans, hoping to protect their retirement income, are retiring to Portugal for six months … One recent passport photograph (specify to the photographer that it must meet the Schengen Visa Requirements) Completed original application form. Can I access free public healthcare in Portugal as a non-EU expat? There are a variety of different visas you can apply for as a US retiree. Compared to the cost of living in the USA, for example, living in Portugal is substantially more affordable. This was because of the low price of dwelling, the gorgeous climate and the nice and cozy and welcoming Portuguese folks. The permit is renewable every two years, and after five years, it can be converted to a permanent residency permit. Your Name (required), Your Passport - Issuing Country (required), Your Spouse's Passport - Issuing Country (required). During the outbreak of pneumonia by the new Coronavirus – COVID-19 the Portuguese government has been taking all necessary public health measures to protect the entire population. Options also exist to extend the tax-free treatment of investment income beyond 10 years with the use of specific EU-regulated financial products. Retire in Portugal: The best regions and towns for retirees. As one of Europe’s sunniest countries, there are around 300 clear days a year, so if you’re one of those sunshiny, solar-powered people, Portugal is for you. Bartolomeu Dias did so in 1486, and Vasco da Gama recorded a sighting of the Cape of Good Hope in 1497, en route to India. In addition, the country’s Non Habitual Residency Program NHR offers an exceptional 10-year tax incentive to further sweeten the deal. We provide several metrics to compare the cost of living including cost of groceries, transportation, and more. For many South African retirees, the plan is to head to the coast away from the bustle of the big cities. It’s peaceful, safe and has lots of opportunities to just kick back and relax. The Portuguese explored the coasts of South Africa in the late 15th century, and nominally claimed them as their own with the erecting of padrões (large stone cross inscribed with the coat of arms of Portugal placed there as part of a land claim). Return flight tickets from South Africa to Portugal. While the benefits are numerous, the process of setting all of this up can be complex. The South Africa Expats forum is a great place to meet other Expats now living in South Africa. Obtaining a visa to the UK is quite costly and can range from the short term study visa that is roughly R3528 with the most expensive tier 3 visa at R23,142. Gifts or inheritances received by spouses and direct ascendants and descendants are exempt from estate duty. This article is not about moving to Portugal viewed through rose-tinted spectacles because although the sun shines, the beaches are stunning, the wine and beer are cheap Portugal has warts as well. ... South Africa is currently placed in fourth position with a total of 276 Golden Visas granted. Whether you’re looking at property prices, healthcare, day to day living expenses or public transport costs, Portugal scores consistently high. South Africans moving to Portugal on a "green" visa. Moving to Portugal - 5 Things to Consider. South Africa is a popular place to retire for many Europeans, especially Brits. ! However, there is a tax-busting alternative in one of Europe’s top lifestyle destinations: Portugal. South African retirees have the option of investing €300,000 or more in property to obtain residency through investment in Greece. They include Lisbon, Cascais, Lagos, Tavira, Ericeira, Caldas da Rainha, Tomar, Nazare, Coimbra, Porto, Guimaraes and Braga. Among these, there is also the non-lucrative visa which is available for those who want to retire and live here or want to spend more than 90 days (which usually require a temporary stay visa) without engaging in any professional activities. You can apply for NHR status if you have not been a resident in Portugal in the previous five tax years. Discover THE most affordable option for South Africans wishing to retire or settle in Portugal: ... 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