Retirement is one of the most common reasons expats seek out residency-by-investment programs. For many, the goal is not just financial diversification, but also securing a peaceful and affordable lifestyle in a safe and beautiful country. In this regard, the Portuguese Golden Visa stands out as one of the world’s best retirement planning solutions.
With its short citizenship pathway, minimal residence requirements, and access to Portugal’s healthcare system and tax incentives, the program offers unmatched value to retirees. This article explores how expats can use the Portuguese Golden Visa as part of their retirement strategy in 2025.
Why Portugal is Ideal for Retirement
Portugal regularly ranks among the best retirement destinations in Europe due to:
- Climate: Over 300 days of sunshine in the Algarve; mild winters across the country.
- Safety: One of the top 10 safest countries worldwide.
- Affordability: Cost of living 30–40% lower than other Western European hubs.
- Healthcare: High-quality, low-cost healthcare options.
- Community: Thriving expat communities, particularly in Lisbon, Cascais, Porto, and the Algarve.
- Lifestyle: Access to beaches, golf, culture, and fine dining.
The Portuguese Golden Visa as a Retirement Tool
- Residency with Minimal Stay
- Retirees need only 7 days per year in Portugal to maintain their Golden Visa residency.
- This flexibility allows retirees to keep global ties while slowly transitioning to a permanent life in Portugal.
- Path to Citizenship
- After 5 years, retirees can apply for Portuguese citizenship.
- Citizenship provides full EU rights, granting the ability to live in any of the 27 EU member states.
- Family Benefits
- Spouses and dependent children can be included in the same application.
- This allows entire families to share healthcare, education, and eventual citizenship opportunities.
Tax Planning for Retirees: The NHR Regime
One of Portugal’s biggest draws for retirees is its Non-Habitual Residency (NHR) tax regime, available for 10 years.
Key benefits include:
- Foreign Pensions: Taxed at a flat 10% under NHR.
- Foreign-Sourced Income: Dividends, royalties, and capital gains may be exempt if taxed in the source country.
- No Wealth Tax: No global wealth or estate taxes in Portugal.
- No Inheritance Tax for Family: Direct heirs are exempt.
This makes Portugal extremely tax-friendly compared to other European retirement destinations.
Healthcare Benefits for Retired Golden Visa Holders
Golden Visa residents gain access to Portugal’s SNS public healthcare system, which is affordable and efficient.
- GP visits: €5–€10 (public) or €50–€70 (private).
- Specialist visits: €80–€120 in private clinics.
- Health insurance: €500–€1,000 annually per person for robust coverage.
Portugal’s healthcare ranks among the EU’s most cost-effective, making it attractive for retirees needing ongoing medical care.
Cost of Living for Retirees (2025 Estimates)
- Housing: €800–€1,500/month for apartments in secondary cities and Algarve towns.
- Groceries: €300–€400/month for a couple.
- Healthcare Insurance: €100–€150/month per person.
- Leisure & Lifestyle: Dining out €10–15 per meal; golf fees €70–100 per round.
A retired couple can live comfortably in Portugal for €2,000–€2,500/month, significantly less than countries like France, Germany, or the U.S.
Popular Retirement Destinations in Portugal
- Algarve: Beaches, golf resorts, and international expat communities.
- Cascais & Estoril: Luxury coastal living near Lisbon with top medical facilities.
- Porto: Affordable yet culturally rich city with excellent healthcare.
- Coimbra: Vibrant university town, appealing for cultural and educational access.
- Alentejo: Peaceful rural living with low costs and wine-country charm.
Example Retirement Scenario
John & Mary (U.S. Retirees)
- Invest €500,000 in a regulated Golden Visa fund.
- Spend winters in Algarve, summers visiting family abroad.
- Apply for NHR and pay just 10% tax on U.S. pension income.
- After 5 years, apply for Portuguese citizenship, gaining an EU passport to travel and live freely across Europe.
Outcome: A smoother, tax-optimized retirement with EU citizenship security for themselves and their children.
Golden Visa vs Other Retirement Residency Routes
| Program | Stay Requirement | Citizenship Timeline | Tax Advantages |
| Portugal Golden Visa | 7 days/year | 5 years | Strong (NHR) |
| Spain Golden Visa | Full-time residency needed | 10 years | Limited |
| Greece Golden Visa | No stay for residency, 7 years for citizenship | 7 years | Non-Dom €100k tax regime |
| Malta CBI | Full-time (12+ months) | 1–3 years | Standard EU taxation |
Portugal is unmatched in combining flexibility, tax benefits, and a fast roadmap to citizenship.
Conclusion
For retiring expats, the Portuguese Golden Visa offers more than residency. It provides affordable living, healthcare, generous tax regimes, family inclusion, and access to EU citizenship after just five years. Compared to other EU and global residency programs, Portugal delivers the best blend of lifestyle, value, and long-term security.
Next Step
Looking to secure your retirement in Portugal? Our experts specialize in Golden Visa planning for retirees — from investment strategy to NHR tax applications and healthcare enrollment. Contact us today to design your retirement plan with Portugal’s Golden Visa.