What do I need to know before retiring in Faro?
When we asked people what advice they would give someone preparing to move to Faro, they said...
"Expats considering retirement in Faro should be aware of several key factors. Firstly, the cost of living in Faro is relatively low compared to other European cities, making it an attractive option for retirees. However, it's important to have a clear understanding of your financial situation and budget before making the move. The official language in Faro is Portuguese, so learning the basics of the language will be beneficial, although English is widely spoken in tourist areas. The healthcare system in Portugal is of a high standard, with both public and private options available. Expats are eligible for public healthcare if they are residents and contribute to the social security system. Faro has a Mediterranean climate, with hot summers and mild winters, which may be a significant change for those used to cooler climates. The city is known for its rich history, beautiful beaches, and golf courses, offering plenty of activities for retirees. Portugal has a favorable tax regime for foreign retirees, known as the Non-Habitual Resident (NHR) scheme. This allows for a tax exemption on foreign income, including pensions, for a period of ten years. However, it's recommended to seek advice from a tax consultant before moving. When it comes to housing, there are various options available, from renting an apartment to buying a villa. It's advisable to spend some time in Faro before deciding where to live, to get a feel for the different neighborhoods. Finally, it's important to understand the visa requirements for living in Portugal. Non-EU citizens will need to apply for a residence visa before they move, while EU citizens have the right to reside in Portugal, but must register their residence after three months," commented one expat who made the move to Faro, Portugal.
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Other Questions:
- What should I pack when moving to Faro?
- Where should I setup a bank account in Faro?
- Will I be able to find a job in Faro?
- What is life like in Faro?
- What do expats in Faro appreciate most about the local culture?
- What do expats find most challenging?
- Is there a lot of crime in Faro?
- Is there a lot of diversity? Are people in Faro accepting of differences?
- What are the schools in Faro like?
- What are healthcare services like in Faro?
- What are medical services in Faro like?
- Are healthcare and health insurance expensive in Faro?
- What are emergency services like in Faro?
- Will I need to travel to see a specialist?
- Are common prescription medications available in Faro?
- How are local medical facilities in Faro?
- As a foreigner living in Faro, will I have access to public healthcare? What is it like?
- What have your experiences during the pandemic with the local healthcare system been like?
What do I need to know before retiring in Faro?
If you live in Faro, newcomers to Faro would love to hear your answer to this question.
