Early retirement to Portugal

subscription-toggle
Viewing 2 posts - 1 through 2 (of 2 total)
  • Author
    Posts
  • #19069 Reply
    Victoria Greensmith
    Guest

    Hi,

    My partner and myself are looking to early retire to Portugal mid 2022. We will be 60 and 48 years old. We will be selling our property in the uk, buying a villa outright for around £250k.

    and the balance to fund our retirement. Estimated lump sum would give us us an income £20k per year for 20 plus years. However before we purchase a villa we would like to rent to get a feel for the area we would like to purchase in.

    From reading the posts we understand and that would have to apply for the D7 visa and then the residence visa?

    As our retirement is going to be funded by the sale of our Uk property would we have to have sold it before we can apply for the visa?

    Also, Would we have to transfer the funds from our Uk property directly into a Portuguese bank before we moved to Portugal or a portion of the funds?

    Would we have to secure a lease on a rental property before they would issue the visa?

    Thank you
    Victoria

    #19078 Reply
    James Cave
    Keymaster

    Hi Victoria,

    Your question is quite specific so I would recommend getting expert help. I can refer you if you like?

    With the D7, you basically apply for everything – and prove everything in advance – before you move to Portugal. If you have another form of income (e.g. pension/salary from a remote job/rental income etc) that could be enough to be eligible for the D7. Otherwise, you may have to think about selling the property before moving to Portugal. (Again, I would speak to a professional on this).

    You’d normally need to show you have enough funds to cover the temporary residence permit length. This is normally granted in 2-year blocks, so it would be something like (€635*12*2 = €15,240) for the first person and 50% of that for the second. Those figures are a bit rough, and may go up slightly by next year, but should give you an idea. Basically, though, you shouldn’t need to transfer all of your funds.

    As for the lease, it really depends on the consulate unfortunately. I know many people applying from the US are finding that they need to have a lease before they get to Portugal which is very complicated. I haven’t heard enough back from UK applicants yet to know what the Portuguese consulates in the UK are doing yet. On the plus side, it should be easier for you to come over from the UK to find a lease if need be.

Viewing 2 posts - 1 through 2 (of 2 total)
Reply To: Early retirement to Portugal
Your information:




You have successfully subscribed to the newsletter

There was an error while trying to send your request. Please try again.

Portugalist will use the information you provide on this form to be in touch with you and to provide updates and marketing.

Get the latest from Portugalist.