Where should I setup a bank account in Porto?

We asked expats in Porto what banks they use and there advice about banking. They advised...

"Porto is a popular destination for expats due to its affordable cost of living, pleasant climate, and rich culture. Before retiring in Porto, it's important to understand the local customs, language, and lifestyle. Firstly, learning Portuguese will be beneficial as it is the primary language spoken in Porto. While many locals speak English, especially in the tourism and service industries, day-to-day life will be easier if you can communicate in the local language. Healthcare in Portugal is of a high standard, with both public and private options available. Expats should research the best healthcare options for their needs and budget, and consider getting a health insurance plan that covers medical expenses in Portugal. Portugal has a relatively low cost of living compared to other Western European countries. However, it's important to budget carefully and consider all potential expenses, including housing, utilities, groceries, healthcare, and leisure activities. Portugal has a favorable tax regime for foreign retirees, known as the Non-Habitual Resident (NHR) scheme. This offers tax exemptions on foreign income for a period of ten years. It's advisable to consult with a tax advisor to understand the implications and benefits of this scheme. Portugal is generally a safe country with low crime rates. However, like any other place, it's important to take basic safety precautions, especially in tourist areas where pickpocketing can occur. Porto has a Mediterranean climate with hot summers and mild winters. The city is known for its rainy winters, so it's advisable to prepare for this if you're planning to live there year-round. Porto is a city rich in history and culture, with plenty of museums, galleries, and historical sites to explore. The local cuisine is also a highlight, with a focus on seafood and the famous Port wine. Public transportation in Porto is reliable and affordable, with a network of buses, trams, and the metro. Owning a car is not necessary for getting around the city, but may be useful for exploring the wider region. Finally, it's important to understand the process of obtaining a residence permit in Portugal. This typically involves providing proof of income or savings to support yourself, as well as proof of health insurance. It's advisable to consult with a legal expert or relocation specialist to navigate this process," said a member in Porto, Portugal.

AGS Worldwide Movers
Get Quote

Relocating abroad soon? Make your move with AGS! AGS Worldwide Movers is a leader in the international moving industry. Our experience and expertise allows us to guarantee our clients the best quality moving services.

AGS Worldwide Movers