Portugal is one of the top destinations for British retirees, with the Algarve being a destination of choice for a lot of British expats due to its amazing sandy beaches, beautiful weather and jaw-dropping coastlines. Whether you are planning to travel there, or are already one of the lucky people to already be living there, it helps to have the right information for your stay.
People who have made pension payments and are eligible for a pension in the UK are usually eligible to retain their pension and health care entitlement if retiring to Portugal. This also includes people eligible for a pension in any other EU nation, as well as Norway, Liechtenstein, Iceland and Switzerland. For those over 50, driving licenses must be renewed when your reach 50, 60, 65 and 70, and after 70, you will need to renew your license every two years.
British and EU residents are entitled to apply for health service user card, which covers you under the Portuguese National Health Service. All you will need to apply for one of these is your passport and an EHIC card. Pensioners of the UK and EU countries are also entitled to subsidised health care costs and free emergency treatment.
Transferring your British Pounds in to Euros is a must in Portugal. If you are relocating, there is no doubt that you will have to open a Portuguese bank account in order to save money. Withdrawing Euros from a British bank account is completely inefficient, as banks usually charge a percentage of each transaction, as well as offering severely hampered exchange rates from Portuguese banks. To avoid further charges, for perhaps property purchases or bill payments, transfer your money securely to a Portuguese account using a foreign exchange broker. A company such as RationalFX offer an excellent money transfer service to Portugal which is fast, efficient and saves you money. They don’t charge any transfer fees or handling charges, don’t take commission AND offer some of the best exchange rates you will find. It is in their interest to provide you a good service and save you money, which benefits both of you!
However you choose to spend your time in Portugal, we know you will love it!
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