In Portugal you can find over 150 banks including a range of private national retail banks, public and cooperative banks, international banks, and mobile banks.
Portugal’s banking system is modern and advanced. Many of their banks are linked up to its Multibanco system.
This country is open for business and attracting a lot of foreign investors thanks to its Golden Visa program and Non-Habitual Resident (NHR) tax benefits.
We’ve named thin-sliced corners of this beautiful, sunny, friendly, safe, welcoming, and affordable country as the world’s top retirement haven more than any other.
As a resident (and even non-resident) of Portugal, you are able to open a bank account with relative ease. This is great news for expats and foreigners. Many countries make it difficult to open a bank account as one. In Europe today, it is difficult to get a loan as a non-resident or even as a resident if you can’t show adequate income in the country where you’re residing.
Banks in Portugal will lend to non-residents for up to 30 years (or until age 75) and offer up to 80% LTV in some cases.
Current interest rates are excellent—in the range of 2.2% to 2.7%, depending on the length of the mortgage and whether the rate is fixed or variable.
At the time of writing the U.S. dollar still relatively strong against the euro, standing at $1.21 to 1 euro.
Living In Portugal
The cost of living in Portugal is among the lowest in Western Europe, on average 30% lower than in any other country of the region.
A couple could live here comfortably but modestly on a budget of as little as 1,800 euros per month. And, with a budget of 2,500 euros per month or more, you could enjoy a fully appointed lifestyle in this heart of the Old World.
Portugal is a place with a long and interesting history where you can indulge any interest you could imagine… from boating, diving, and hiking to regular nights out at the theater and museum and gallery afternoons…
