5 Great Reasons To Retire to Portugal

Editor's Note: This story originally appeared on Live and Invest Overseas.

Portugal is the oldest country in Europe, with the same defined borders since 1139. Before that, it was part of the Umayyad Caliphate and the Roman Empire.

The country is home to the oldest bookstore chain in the world, Livraria Bertrand, which opened its doors in 1732.

Here, too, is one of the oldest universities in the world, the University of Coimbra, which began molding young minds in 1290.

Portugal is a top surf spot — one of the best in Europe — thanks to 500 miles of coastline and weather that’s said to allow for good surfing 364 days of the year. Being neither a surfer nor a fan of cold waters, I won’t be putting that superlative to the test.

Portugal’s History

Half of the New World once belonged to the Portuguese Empire, which was one of the longest-lived colonial powers, lasting for almost six centuries.

The country began its colonizing in 1415 and carried on until 1999, when it returned Macau to China.

Portugal was also the first colonial power to abolish slavery, in 1761 … half a century before France, Spain, the U.K., or America.

Portuguese is spoken by more than 230 million people worldwide and is the official language of nine countries.

More Key Points About Portugal

Tempura was invented by the Portuguese. In the 16th century, Portuguese sailors introduced the Japanese to a specialty from back home — peixinhos da horta, green beans battered and deep-fried in hot oil.

The word tempura is thought to come from the Latin tempora, meaning a time of Catholic fast.

During fast periods, when meat was prohibited, the Portuguese would deep-fry vegetables instead of fish or chicken. Peixinhos da horta translates as “little fish of the garden.”

The Vasco de Gama Bridge in Lisbon, over the Tagus River, is the longest in Europe, at 10.7 miles.

Portugal is the seventh-safest country in the world, with the 12th-best health care according to the World Health Organization (WHO).

The climate and the landscape are mirror images of California.

Top of the List

Europe is comprised of 44 countries according to the U.N., though I count 46 … and the EU includes 27.

Among these, I put Portugal near the top of the list for anyone looking for a place to live, to invest, or to formulate a Plan B in Europe.

There have been some headline-grabbing changes in Portugal over the past year. Portugal’s reputation as an offshore haven has taken a knock.

But the truth is, Portugal still stands out from the crowd.

The option to buy property and get a Golden Visa has been abolished. And, Portugal’s preferential tax scheme for expats, the Non-Habitual Resident Program (NHR) is set to close at the end of this year.

Great Bang for Your Buck

But I always say that taxes should not be your primary consideration when moving overseas. Overall bang for your buck is key.

Portugal’s Golden Visa still exists — you can invest 500,000 euros in a fund and get the Golden Visa. Or you can invest in a business, or in Portuguese culture.

And if you want residency in Portugal, the most straightforward route is simply to show you have at least 1,200 euros per month in income. That path remains as easy as ever.

I called it right that Portuguese property was set for a boom; anyone who bought well here in recent years is likely now sitting on nice capital appreciation.

Property in Portugal

Compared with back home, there are still plenty of bargains, as Overseas Property Alert Editor Sophia Titley reports:

“Property in Portugal is 34% cheaper than property in the States. Even its most expensive property market, the Algarve, is still more affordable than the States, at 8% less … and the Algarve has a Mediterranean climate, beaches, and golf resorts.”

The overall cost of living in Portugal remains probably the lowest in Western Europe, and if you become a resident, health care is free or nearly so.

“We can’t believe how much this is just like home,” one California couple at a past Live And Invest In Portugal Conference told me.

“We’re thinking we’ve found our spot. Why in the world would we stay in California with its high cost of living, high cost of real estate, and high taxes … when we can have a better life in the same setting here?!”

So, there are lots of reasons to love Portugal. Here’s just a few more.

1. 3,000 Hours of Sunshine

I mentioned the Algarve already, but it’s worth mentioning this jewel in Portugal’s crown again.

The region in southern Portugal enjoys more than 3,000 hours of sunshine a year, more than most any other destination in Europe.

Summers reach into the 90s in the Algarve, but most of the year is comfortable, with lows in the 40s during December and January.

It’s a California-type climate with the same great beach-lifestyle opportunities … but at a lower cost … and with the added benefit of beautiful, historic towns to explore.

2. No Communication Troubles

Another significant benefit for anyone shopping for a Plan B destination is that you don’t have to learn to speak Portuguese. Many locals speak English.

While some may not be able to debate global economics with you in English, I’ve met few Portuguese who couldn’t get by in English … and in my experience many are fluent.

3. What About Culture?

This is continental Europe, with all the cultural trappings you associate with that status.

Portugal is also one of the most historically rich points on the planet … as you no doubt gathered from my opening.

That said, you’ll find broader cultural options in France and Italy. That is partially a result of population sizes.

Portugal is a country of only 10 million people, with 1.3 million living in the area of the capital, Lisbon.

4. What About Safety?

Old maps of Europe show the southwest corner of Portugal as the end of the world.

This country is surrounded on two sides by water and two by Spain, meaning limited access. As a result, Portugal hasn’t been on a path of any refugees or foreign armies.

Portugal enjoys low violent crime rates. The only real safety concern is petty crime in the tourist areas.

5. What About Air Access?

You have good options for daily flights from the United States to Lisbon. From there you can connect or drive easily to anywhere else in the country.

From Lisbon, Faro, and Porto, you have many direct flight options to destinations across Europe.

Again, Portugal makes the grade whether you’re looking to live in Europe full-time, to invest for capital appreciation (thanks to still-undervalued pricing) and cash flow (thanks to the healthy tourist trade), or a Plan B.

All things considered, Portugal is undefeated as a top choice in Europe.