It is a bit complicated and yet also fairly straightforward; many steps to follow, nothing very hard to do, though. Plenty of people have translated things into English.
Thanks for sharing. I’m trying to guess which of you primarily writes which post — but all are wonderfully written. I think Scott is the nuts and bolts person who keeps it interesting and Amy is the throw in lots of humor one. I’m probably wrong!
Actually, both of us are hilarious :-D. And we each write posts. Sometimes, the "lead" author is listed first, sometimes not. We each touch every post in some way, though. Usually, pictures and graphics are Amy's bag.
As someone who has been threatening to leave the country for a while, but there are obligations that keep me here, how do they figure out how much money you will need if you are going to do a self funded retirement? Is there an actuarial table that guesses how many years you have left and you need $X per year?
Once you become citizens, do you have the option to work if you wanted?
I am excited each time I see a new post from you. I am doing a bit of vicarious living. Thank you for doing this.
The funding "requirements" for a bank account in Portugal are tied to the Portuguese minimum wage. Visa applicants need to have at least a year's worth of minimum wage salary in their bank account, adjusted for family size. Portuguese minimum wage (which varies slightly from year to year) is possibly the lowest in Western Europe.
The amount for 2022 is 8.460€ for the first adult (note the "." is equivalent to a comma in US numbers - so eight thousand, four hundred and sixty euros which - as of this writing - are exactly equivalent to US dollars but quite subject to change). Net net, for less than $9,000 US dollars, you can fund a Portuguese bank account for one adult's visa application.
I use quotes around requirements above because, like the lease requirement, word is that it's better to have more than what is stated.
The option to work exists even before citizenship but it depends on where the work/income comes from. Part of the idea here is that immigrants are not lining up to take jobs away from Portuguese citizens. Digital nomads, remote workers, those who can earn income from other countries somehow are allowed to do so. I'm not 100% sure whether one could work after attaining citizenship, though I suspect so.
There are other visa options, including, I believe a relatively new visa specifically for digital nomads, that might allow getting a job earlier in the process. We didn't research those. I have heard there is great need for English speaking hotel/restaurant/hospitality employees in the tourist areas, which may be seasonal work. And I don't know whether there is a need for the same individuals to also speak Portuguese, though I imagine it would be harder to have a job like that if one cannot.
So that's what you were up to next-door! ;) It's amazing how much time and effort went into making this happen, all while Scott wrapped up his career in education and you were preparing your house to sell... And I look forward to hearing more about how you'll find a slower-paced life. Love you both!
Sounds complicated and a language barrier too boot?! Good for you two. I love that you are doing it and telling us about it.
It is a bit complicated and yet also fairly straightforward; many steps to follow, nothing very hard to do, though. Plenty of people have translated things into English.
Thanks for sharing. I’m trying to guess which of you primarily writes which post — but all are wonderfully written. I think Scott is the nuts and bolts person who keeps it interesting and Amy is the throw in lots of humor one. I’m probably wrong!
Actually, both of us are hilarious :-D. And we each write posts. Sometimes, the "lead" author is listed first, sometimes not. We each touch every post in some way, though. Usually, pictures and graphics are Amy's bag.
Pfft. The looooong wordy ones are his. Especially if they are very clever. Honestly, they are a real mixed bag as to who takes lead.
This is all so very interesting!!! Thank you!
Glad you find it so. You're very welcome!
As someone who has been threatening to leave the country for a while, but there are obligations that keep me here, how do they figure out how much money you will need if you are going to do a self funded retirement? Is there an actuarial table that guesses how many years you have left and you need $X per year?
Once you become citizens, do you have the option to work if you wanted?
I am excited each time I see a new post from you. I am doing a bit of vicarious living. Thank you for doing this.
The funding "requirements" for a bank account in Portugal are tied to the Portuguese minimum wage. Visa applicants need to have at least a year's worth of minimum wage salary in their bank account, adjusted for family size. Portuguese minimum wage (which varies slightly from year to year) is possibly the lowest in Western Europe.
The amount for 2022 is 8.460€ for the first adult (note the "." is equivalent to a comma in US numbers - so eight thousand, four hundred and sixty euros which - as of this writing - are exactly equivalent to US dollars but quite subject to change). Net net, for less than $9,000 US dollars, you can fund a Portuguese bank account for one adult's visa application.
I use quotes around requirements above because, like the lease requirement, word is that it's better to have more than what is stated.
The option to work exists even before citizenship but it depends on where the work/income comes from. Part of the idea here is that immigrants are not lining up to take jobs away from Portuguese citizens. Digital nomads, remote workers, those who can earn income from other countries somehow are allowed to do so. I'm not 100% sure whether one could work after attaining citizenship, though I suspect so.
There are other visa options, including, I believe a relatively new visa specifically for digital nomads, that might allow getting a job earlier in the process. We didn't research those. I have heard there is great need for English speaking hotel/restaurant/hospitality employees in the tourist areas, which may be seasonal work. And I don't know whether there is a need for the same individuals to also speak Portuguese, though I imagine it would be harder to have a job like that if one cannot.
So that's what you were up to next-door! ;) It's amazing how much time and effort went into making this happen, all while Scott wrapped up his career in education and you were preparing your house to sell... And I look forward to hearing more about how you'll find a slower-paced life. Love you both!
We were a regular house a'fire! Surprised you didn't see smoke coming out the windows! Miss you!!!
Thanks, Nancy! We miss you!