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Retiring To The Algarve: 5 Facts You Should Know

When it comes to overseas retirement destinations it’s fair to say that Europe offers a smorgasbord of options. From the history and culture of Italy to the enviable sunshine and jaw dropping scenery of Spain there are no shortage of potential destinations to explore in your retirement.

However one often-overlooked destination is Portugal; most notably the Algarve region. Being smaller and less flashy than some of its neighbours, Portugal’s subtle charms can sometimes not make the impact they deserve. However those willing to dig a little deeper will find a wealth of appeal.

Over the last few months we’ve seen The Algarve appear on our radar time and again, winning one award after another. As a result we thought it would be interesting to highlight five of The Algarve’s greatest claims to fame. Hopefully these points will be enough to convince you that The Algarve is one of the best retirement destinations in Europe, perhaps even the world.

The Most Affordable Option in Europe for Retirees

Forbes magazine, reporting recently on the 2014 Retire Overseas Index, mentions The Algarve’s reasonable cost of living in comparison to many other countries. It was described specifically as the ‘most affordable option in Europe for retirees’. The report claims that one can live well in Portugal for $1,500 a month though some would argue that there are ways to enjoy this Portuguese paradise for far less.

No Tax on Pensions for New Residents

You might be surprised by just how common it is for retirement destinations to tax overseas sources of income; even when these are a retiree’s pension. Portugal however has recently changed all this and now offers an enviable tax incentive scheme in order to draw retired expats from around the world.

The tax-free period is twice that of neighbour Spain, meaning that you’ll naturally be far better off in Portugal than you would be in most other European countries.

World’s Leading Golf Destination

The World Travel Awards are the so-called ‘Oscars of the travel industry’ and the results are fiercely competed as a result. Golf tourism is major business so anywhere that can claim its dominance in this area is sure to prosper.

Here Portugal was named the best golf destination in the world, largely due to an impressive combination of world-class golf resorts, combined with one of the best climates in the world, which allows for year-round golfing.

Europe’s Leading Beach Destination

The same awards ceremony was also good enough to brand Portugal as Europe’s leading beach resort for the 2nd year running. The cleanliness and safety of the beaches, combined with the wide diversity; from amenity-rich tourist beach destinations to wild, desolate beaches helps to ensure that there is a beach that will satisfy any visitor irrespective of taste.

Ranked Best Place in the World to Retire

Each year, the Retire Overseas Index aims to analyse the most popular retirement destinations around the world. Bearing in mind the subject of this article, it should come as no surprise that The Algarve was ranked this year’s best place in the world to retire.

There were a number of reasons cited for this. Portugal successfully scored the maximum number of points for its climate, infrastructure and entertainment. The ease of integration, thanks to a large existing expat population was also praised, as was Portugal’s astonishingly low crime rate.

Retirement Made Simple

Let’s be honest; one of the things that holds many of back from actually retiring abroad is simply the complexity of the process. Trying to understand how to retire to a foreign country, what the rules are pertaining to property ownership, taxation and more can be difficult issues.

Now though, Algarve Senior Living are making it easier than ever before to retire to The Algarve. They offer top quality properties with views for less than the cost of living in the UK. Algarve Senior Living are even making the process of retiring to The Algarve as low-risk as possible thanks to the introduction of a new ‘try-before-you-move’ option.

No matter what your requirements, contact Algarve Senior Living to see how they can help to make your overseas retirement plans a reality.

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