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As political landscapes evolve, many consider moving abroad for stability and new opportunities. Portugal, with all its allure, has become a favoured destination for North Americans, as well as other countries scattered around the globe. However, this significant relocation requires careful preparation amidst political changes

Rafael and I have decided to approach 2024 (the auspicious year of the Dragon) head on with a renewed strategy and a clear vision. We shared what we wanted to change in our new year’s resolution and now we are laying out what we want to achieve.

With the investment by real estate rule changes to Golden Visa, NHR regime getting retired and topping that off with the Prime Minister of Portugal resigning, we felt like we were barely able to catch our breath.

Opening a bank account is not difficult in Portugal but it does take a lot of patience and perseverance. If you are abroad, it may be more exhausting for you to spend your energy capital on trying to open a bank account from a different country than if you were in Portugal.

With the non-habitual resident (NHR) tax regime ending, is Portugal still a good place to relocate to? Many are upset and feel this may be a sign Portugal is no longer a good place to move to but we think this is a chance for a better and balanced program to emerge.

Getting your NIF in Portugal is easier if you’re an EU or EEA citizen. You simply need to find your nearest Financas office, walk in or make an appointment, and come prepared with your documents such as your passport and residential address.

Who needs a NIF number?

Foreign Investors:

Individuals investing in Portuguese assets, such as real estate, stocks, or other financial things, are required to have a NIF number. This allows them to be properly identified for tax purposes and enables them to fulfill their tax obligations related to their investments.

The Portuguese NIF number, in Portuguese, número de identificação fiscal (NIF), ou número de contribuinte, plays a fundamental role in fulfilling tax obligations within the country. With this number, you can accurately file tax returns, report income, and fulfill tax liabilities. Furthermore, you’ll need it for everything.

Pope Francis will be attending World Youth Day 2023, which is hosted by the beautiful city of Lisbon from August 2nd to 6th, 2023. The city is expected to bring in 1-2 million youths from all over the world. Then in May 2024, Taylor Swift will be playing 2 concerts at Estádio da Luz, one of her European stops on the Eras Tour.

Lisbon, the vibrant capital city of Portugal, comes alive during the month of June as it celebrates Santos Populares, a magnificent festival dedicated to Saint Anthony, Saint John, and Saint Peter. This lively event, also known as the Sardines Festival, brings together locals and visitors alike to revel in the infectious spirit of Lisbon.

We are usually able to determine which coast in Portugal are more suitable and which are not when looking for property. With extensive coastline throughout the country, not all coasts are the same and the surrounding area all have location specific microclimates. Portugal is a country of diverse microclimates that offers all sorts of weather conditions and natural beauty. Let's explore some of the fascinating microclimates across the country.

Q and A: Can I buy property in Portugal remotely? Absolutely! Remote purchases are becoming more common. With proper preparation and guidance, you can buy property without physically visiting Portugal. This is our specialty! Let MOL Portugal help you!

What about pending golden visa applications?

Any pending applications will be converted into a D2 special entrepreneur visa. Golden Visa applications can still be submitted and the pending ones will be converted to these D2. Also regarding the proof of stay, it will continue to be seven days per year on average.

Whether you're looking to renovate a traditional Portuguese property, build a new home from scratch, or update an existing space, our team can provide you with a comprehensive range of services, including project management, design, sourcing materials, and construction.

The D7 visa is for non-EU citizens who wish to reside in Portugal and have sufficient financial means to do so. These financial means can be presented in the form of passive income, for instance rental income, financial investments, pensions, or dividends.

Before you start your apartment search, you need to determine your budget and preferred location. Lisbon has many different neighbourhoods, each with its own charm and vibe, but they are all very different, so it's important to research and visit if you can.

Portugal is a great place to raise children, with excellent schools, a high standard of living, a mix of modern amenities and historical architecture, a family-oriented European culture, not to mention plenty of opportunities for outdoor activities and travel at your fingertips.

So, what should you consider when buying a property in Portugal as a retiree? Although Portugal is known for its beautiful climate, with warm and sunny weather throughout the year, what are some things to consider if you are looking to buy a place to retire there?

Top 5 Cities in Portugal for Retirees

Check out our picks for the top 5 cities in Portugal for retirees. These are based on factors like cost of living, amenities, and overall quality of life.

Are you ready to take the leap and purchase a residential property to apply for Portugal’s Golden Visa? Have you considered where and what to buy? This post is going to cover everything you need to know about the Golden Visa thresholds to help you make some decisions.

Portugal’s GV is one of the most sought-after golden visas in Europe. It offers residency in return for an investment starting at 280,000 EUR and only requires you to spend an average of seven days per year in the country.

To pursue the Portuguese Golden Visa via the residential property investment route, the biggest change since January 2022 is the non-eligible areas that are highlighted in our map, above in grey.

Portugal is considering ending the golden visa program as it seems to have fulfilled its intended purpose. Antonio Costa said: “There are programs that we are currently re-evaluating and one of them is the Golden Visa program, which has probably already fulfilled its function and for which there might at this point no longer be any justification for keeping it.”

Some of the local etiquette that I wanted to share include tipping or not, what to do when ordering water, along with things like the bread basket before your meal.

Seniors living in Portugal

How do you picture your Golden Years?

If there’s friendly people, sunshine and amazing wine in your mind, consider Portugal.

Rafael and I have taken note of some common differences over the years when our clients are buying in Portugal vs. other places. For this post, we are going to focus on North American differences in terms of property buying as we have quite a few American and Canadian clients.

There are lots of sites that can explain this topic way better than I can surrounding the mundane details of transfer taxes, transfer stamps, sales taxes, property taxes, and capital gains taxes, so with this post, I only wanted to point out a few things from our experience with our foreign buyers.

Fixer Upper vs. Turnkey: As we continue to highlight our renovation projects in our social media channels, we realize it's important to balance off the debate with some reasons why turnkey properties should be considered, as well as fixer uppers, by sharing what our clients have taught us.

Excluding the archipelagos, just the main continent has almost 1000 kilometres of gorgeous coastline, nearly 300 days of sunshine and warm temperatures. This picturesque, westernmost European country is a hop, skip and a jump away from other European hot spots like London and Paris, making travel around the rest of Europe short and sweet.