Americans Are Fleeing Portugal
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- เผยแพร่เมื่อ 22 พ.ค. 2024
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In this video, Andrew delves into the current phenomenon of Americans leaving Portugal after the surge during the pandemic. Andrew discusses the recent Bloomberg article highlighting the end of the "Golden Visa honeymoon" and explores the reasons behind the exodus, such as rising home prices and bureaucratic hurdles.
00:00 Start
00:28 Bloomberg Article Overview
1:52 Don't Follow The Herd
4:27 Is Portugal Dead?
5:30 Alternative Sufficient Options
7:40 Evaluate Where You Want To Go
10:20 Tax-Friendly Countries
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It's funny when some Americans gave immigrants a hard time about not speaking English and then they move overseas and they refuse to learn other languages 😂
Complain is easy, learning is hard, it's just a matter of physics really.
Lazy Americans lol 😂
America is amazingly welcoming to immigrants/expats who speak all languages and not necessarily English. Never forget that!
America allows more immigration than most of Europe combined.
Because Americans are the most arrogant people on earth. The most entitled. That's the true
Everybody does this
FANTASTIC news! I just saw the headline and hope it is true! Please go! I love most American people. BUT, I am so tired of those that move to Europe and then feel like they are entitled to tell us how to live. They bring their low morals with them too. Please, if you want to live here, ADAPT to our culture! Don't force yours on us!
Which aspects of their culture do you feel they're forcing on Europe?
The American work ethic ! (Portugal 🇵🇹 is addicted to long lunches, multiple bank holidays and slow starts ! ) 😂
@@maxflight777 Portuguese are very lazy and inefficient
@@maxflight777 it is called a work life balance. Americans think when they die in their 70s (the average age of death is falling) they can take their money with them 😁.
Welcome to what Canada has been dealing with forever...Portugal is not a unique place in this regard. Give me a break!
This is what happens when someone wants to have their own little America at a price they want rather than wanting to truly move to country because of what it is.
There is truth in this
I see it while meeting expats in Asia as well
If you move, accept you are adopting a new culture
Not bringing your culture along
Well said
@@RetireandGo
When people move to America and set up enclaves that mirror the country and culture they left it's celebrated and called cultural diversity; but when Americans move to other countries and do the same it's frowned upon because they don't assimilate wanting to keep their culture 🤔
The hypocrisy
Same Reason they put Ireland on this list because of its economics, despite its headlines this week... 🤷 money is all that matters it would seem.
I think the type of Americans who move abroad tend to want to be part of the local culture. It seems Brits are more interested in banding together abroad
Yup. Modern day colonizers, complaining they can't have their way in a country that **checks notes** has its own culture and customs.
Imagine one of the top complaints being "language barriers." You are moving to a new country. Least you can do is learn a bit of their language.
I saw Americans immigrating with predatory views (like profit at any cost to locals, advantages despite what would cost to the new local place, trying to reproduce the style of life in the USA overseas instead of adopting the local style of life, poor or no language adjustments, etc). Portugal saw the issues, changed legislation, and now they are leaving... Really predatory and disrespectful attitude.
You should see the Portuguese who go to Angola/ Mozambique
Americans are indeed predatory and disrespectful
Precisely why I will actively be avoiding the expat North American bubble. I loathe the superior attitude that they carry with them wherever they are found. I am shocked at how many Direct-To-Customer footwear and fashion brands, from America and elsewhere, are outsourcing production in Portugal. But at what cost to the environment and to average Portuguese workers and society?
Portugal is making life difficult for everyone not just Americans.
What’s new on you
Comment?
Portuguese onow
Thor own history
😂it’s what we do best
The government has proven itself unreliable and not trustworthy.
As they should, they should worry about their own citizens.
@@duancoviero9759 he said everyone and he means it.
I am from Lebanon. i love Portugal from my heart but to be bit realistic, i think Portugal could be suitable mostly for tourism and vacationing since it is being blessed by magnificent sceneries & affordable prices and lovely hospitable people. But to move and work , i think more efforts are needed to improve the economy for better wages and the priority should definitely be for the Portuguese citizens who are the owners of this country . Regarding Bureaucracy , it is International problem facing many nations, not only Portugal. It is worse here in Lebanon. Finally I am
Looking forward to visit Portugal soon. I am sure it will be unforgettable experience. Regards to Portuguese brothers and sisters
I am Brazilian with Lebanese and Portuguese ancestors, I love Lebanon and I am very sad to see the country in such a difficult situation, all my cousins need to live abroad. I'm sure that one day this wonderful country will be a destination for thousands of tourists again.
@@SCROOGE1111already is for a long time… 😅
The biggest issue overseas is the ridiculous bureaucracy. No just one country, but practically the entire Europe. Layers upon layers of useless functionaries who do nothing but push papers and make your life absolutely impossible.
@66mengel… ✔️. Well said sir.
@@user-mq3td5wx2hIt should not surprise you.
You would think that after the pandemic the stuff would be diminished or even eliminating it
But America was turning into dictatorship right? 🤣🤣🤣🤡🤡🤡 I'm talking to both Trump and biden ass lickers
Great lawyer…great connections 13:49
I retired to Portugal teo hears ago feom California. Best decision ever. You only have one life. Id rather have the quality of life and give up a few dollars for it. Compared to the USA, Portugal is paradise.
You mean compared to CA?
@@donh5794 The whole of the USA.
@@Black-Circle Again, for me. A retired 50 year old.
Portugal is a huge retirement house with almost no young generation as the young generation moves out looking for a better life.
@@TextWriter Better for the retired people.
My husband and I love living in Portugal. The people are wonderful, the country is beautiful and the quality of the food is delicious.
Don’t move to a non-English speaking country if you’re not willing to learn the local languages (plural) as many countries have multiple dialects.
Nonsense; so don't English is the universal language so you saying if I move to Portugal learn the language then decide the country is not for me for some reasons I then I move to Sweden for example are you saying I will need to learn Swedish kmt
I learned spanish, catalán and learning Italian since I moved to Spain 🇪🇸
@@naturesambiancetreehouses8730 lol what did you expect? That the whole world would adapt to your yuppie nomadic needs? This is how emigration works. What if a foreigner comes to live in your country? What is your advice for them so that they don't regret their stay?
yet everyone wants to practice their english over the world, personally I love learning languages but have never had any issues when I dont know the local language well. Do you even travel bro?
@@naturesambiancetreehouses8730where are you from exactly?? English is not the universal language, its international maybe but not universal, and frankly I find you rather arrogant to assume so! A lot of EU countries require a non native to learn the mother tongue of the country they're residing in as per law. Its part of the integration and above anything, a sign of utmost respect! You'll find that locals will really appreciate your efforts with endearment. It's always the English speakers who walk around the planet with a bee in their bonnet because they have this unspoken entitlement that everyone needs to meet their needs linguistically!
Like Canadian politicians, Portuguese politicians sold their country to real estate investors, especially foreign. Now you see increasing housing costs and high cost of living.
Or if the Portuguese actually were competent - they would tie each new foreigner coming in to building a home or apartment so that their presence doesn't take away from housing supply but adds to it.
@@vmoses1979 - not build, refurbish. There's plenty of empty buildings everywhere.
Portugal has onerous regulations and taxes that stymied it's own people from renovating and upgrading. If the people didn't vote them out of office for that then what else would they expect?
I would see this positive for Portugal, without this foreigners the properties would be cheaper as they already are, and already the current prices are lower than in Latin America in common. You need also take the stand of the property owner, not just the buyer, if you are a Portuguese and want sell your property it is a blessing that foreigners increase the prices.
That’s the party line, real estate prices have gone up pretty much everywhere, partly due to economic overstimulation , now they are already crashing in several places including the US, I would imagine, Portugal will not be immune.
if Americans are leaving then that is a great thing. I spend a lot of time in Portugal but the crowds have been a bit much.
2500 Americans have immigrated to PT under the D7 visa I think you mean the Brits 43k.
@@CarneyFelonLawyer Indian here reading silently, we are close to 200k in portugal, and very glad that portugal looks and feels similar to home, even the portuguese people in most cases act like people of my city delhi.
But ya, hate against immigrants and expats is on rise, I was attacked twice last week, my brother was attacked while he was on his moto, it was attempt to murder as the culprits fled in their car from the crime scene and police is still investigating, but what shocked me the most when we went to poilice station for the update in Odivelas, police said you guys are too many in portugal
Definately not what we expected to hear lol
I only ran into 2 couples from US when there. People flock there to visit from all over the world. The tourists there are rude!!!
I believe, if you are going to live in a country with a different language, you need to try your best to learn the language.
Plus, people need to immerse themselves in the culture.
I think moving purely for financial reasons is a grave mistake. Definitely move for momentary financial respite but do so with a view to plant a money tree. Make it a season of building funds so, eventually, you can lift your head and start scoping for where you REALLY want to be.
Moved from the US to Portugal a year and a half ago and still here. Yes, the institutions here are a big problem. But I believe what most are failing to see is that, for the people who moved here over the past few years and then quickly fled, they came in with this mindset that they were entering the promise land. They had some internal dialogue like, "Portugal is a Western European country so it's just like the US, but at the same time we don't have to deal with the polarizing politics or inflation, and at the same time we can buy a cheap beach house and eat fresh fish all day". Not so fast. Every country you move to has it's own set of problems. You just have to choose which problems you're willing to deal with. YES, some countries have worse problems than others, but you have to choose. Again, the failure of the government to work efficiently as it promised is inexcusable. When it comes to real estate, prices are already on there way down. But bottom line: Pick your poison.
Are they relatively friendly to tourists? Or if you know Espanol, are they flexible with that? Some places can't stand when you don't know the proper language 😂
@@SoulEternalPeaceWarrior77 Yes they are mostly friendly. And Portugal has one of the highest English literacy rates in Europe, as long as you're not in small country towns you can speak English as a tourist no problem.
@@bomdiakylie Very good info to keep in mind, thank you for taking the time to respond :)
Honestly, I would avoid Europe. For me living in the US, South and Central America and a few countries in Asia are the way to go. The EU is in big trouble with immigration and economic issues. Portugal for me would be easy to move since I'm Brazilian and familiar with Portuguese culture but I always though was too boring of a place to live.
There's a lot of truth to that. I think that Portugal (and many other European countries) will lose popularity for people who are looking for a new place to live full-time but will remain popular for groups who have the kind of money to purchase a more luxury vacation home or something of the sort. Brazil is an amazing country and it's really exciting to see Latin America on the upswing!@@gugy68
You are totally right about Mexico, it’s really very similar to US, understandable since so many Mexicans moved back bringing the lifestyle for better or worse!
Many Mexicans moved from the United States back to Mexico?? I was not aware of this... why did that happen?
Obviously some made money and went back.
@@KP99retirees?
@@KP99Donald Trump told us to go back to Mexico.
@@bucktooth002glad they listened
Portugal 🇵🇹 here. All good and well, thank you. Lovely country, beautiful people, sublime weather. Great motorcycling too 😉...
Great motorcyle riding... I'm sold!
You don't need a golden visa to move to Portugal.
So you're poor ..... right?
Man, love me some good motorcycling.
motorcycling in Portugal? You like to live on the edge
I left California in 2019 to settle in Spain. Affordable life but very bureaucratic especially opening a new business !
Spain is turning into a desert.
Hola. May I ask what type of business you are trying to start?
You're talking about Spain being bureaucratic when you came from California? Wow, that gives pause.
@@markpitchford7375 Everything is a bit slower in Spain, immigration is handled by a handful of people for example, so it can take 5 years to get citizenship after you've already been approved for citizenship lol
@@ryanmeier8994 can you pay under the table to expedite ?
Wo moved to Portugal for retirement. So far, no major complaints. My family immigrated to the US when I was a child. And I have personal friends from the Ukraine who moved to the US in 2018. From what I have seen in the last 30 years, the immigration bureaucratic molasses is much worse and much slower and much less predictable in the US than in Portugal. So I can't complain.
I pulled out of Portugal a year ago after over a year settling there. Whilst there are some very cheap areas still, they are cheap for good reasons - usually fire risk. The price of decent properties has kept on rising steeply and is now not significantly cheaper than the UK, where I'm from. And Portuguese property owners have dollar signs in their eyes now, thinking it will keep doubling every 2-3 years as it has in the past. I could smell a bubble. The cost of living is relatively cheap (compared to UK) if you like bars, restaurants and entertainment, but for the basics (supermarkets and retail stores) Portugal is no cheaper at all - perhaps even more costly than the UK. And when you factor in the bureaucracy, which is insane like a 3rd world country, and the language factor... all in all, it quickly lost its appeal and I'm glad I got out when I did. Sorry, Portugal! When you were cheap, you were popular... but it was always going to end if you thought you could keep raising property prices through the roof and foreigners would keep buying them.
Common sense sensible summary. Would you consider Portugal still as a place to live if housing were affordable in your eyes? I was there for two months recently, myself being from UK, I find although prices are not as cheap but for the location, lifestyle n weather mix in with the culture I'll choose Lisbon or Porto over London at this stage for example. Ask me another year or two in not sure but I'm looking at it as a life style choice after we sadly left Europe.
Maybe that's their idea. If you're coming into another country with a hell of lot more money than they have, you'll have to pay the price! (And along with that, making it more unaffordable for their own citizens. Lose, lose.
As a 25 year old Portuguese dude, WAITING ON THAT BUBBLE TO BURST! Seems like forever, rents doubled since 2013 house prices have been ludicrous forever now.
You are missing a few key points...
The quality and size of property !
The quality / volume of food and service !
Learn the language !
I agree with you on the bureaucracy tho ...
I feel like the UK is almost worse in most aspects mentioned tho ... Shit expensive food, shit weather, shit housing, culturally imploding, expensive public transport, high taxes, Dysfunctional NHS ... Endless list etc ..
I mean if you're gone be miserable you might as well be miserable in the sun eating great food ...
To Canadians Portugal is free.
Andrew Ive been following ur channel for quite awhile. I love who u r n on how u found such a valuable niche in life.. I long&wish I cld hve a 2nd passport & to afford hving a 2nd small studio some where that treats me better. I’ll always watch ur channel either way..Wishing u & yours the merriest Xmas..w/much love from LV-NV🥰
Good point about following the herd !! Sometimes they lead you off the cliff !!
I am gonna be completly honest i am iberian portuguese and spanish born and raised in Portugal. Our government is shit it is true. But Portugal in itself has a soul and a unique culture. And i used to be welcoming of emmigrants coming here and making their life here, but a long the years as more of you come here, more of you dont speak our language, dont endorse local businesses, i mean the south of Portugal is basically a English speaking place now! So there was a time where i used to be welcoming of you guys coming, there was a time where even i wanted to move to thailand for the cheaper oportunities and great quality of life! But now that we start to see the long term effects of it... please if you come BE a part of our culture, we are so welcoming the food is great and we have amaaaazing history and sense of humor. If you come here and have no regard for the country that is HOUSING YOU AND YOUR JOB, simply leave. I am done being welcoming to all. Not all are welcomed. I chose to stay here in my country trying to make it better. Be a good person and reavaluate your choices - it aint that hard.
Thats how we feel in America everyone treats it like their playground, no borders, dont care about the groundwork and culture of the past and everyone comes here entitled. Seems to be global issue. Everyone is allowed to have a culture except USA we just have to bend over and put up with insanity
@@rzone9546Come on now. Aren't you exagerating a bit? The USA has been historically the most successful country at integrating newcomers from the 4 corners of the world precisely because the USA is not an ethnostate like most europeans are, it's a melting pot of every cultures that make up the american recipe.
The USA is literally a patchwork of all the cultures that incorporated in its midst throughout its History.
Remember in the 30s and 40s when entire neighborhoods of Chicago and New York spoke mostly italian, yiddish or polish? What are those neighborhoods now and the descendants of those immigrants other than fiercely americans?
The USA has the magic hability of turning everybody into staunch americans while incorporating new aspects to your ever evolving culture. We europeans don't have that hability, we're conditioned in our ethno crysalis.
Take it easy, the whole world is going through major changes but in a few years things will calm down. The two wars in Ukraine and Israel are wreaking havoc across the globe, everybody is struggling atm.
@@badabinbadaboom7338 To be an american citizen you used to have to learn about the founding of the USA, the founding fathers, bill of rights constitution etc, you became a real American. Anymore all you have to do is nothing, just sneak in or walk in, our borders are not protected and immigrants get all kinda of Government help. It’s something straight out of a communist playbook. The rest of the world is going to feel it once America is gone.
Rules for thee but not for me seems to be the motto of the rest of the world. It’s a crime to be a patriotic red, white and blue and you know it.
@@badabinbadaboom7338 You are glamorizing a nation that quite literally has become the Wild Wild West. My sister recently visited with her American friend in Florida. This woman routinely navigates her world, as a safety precaution, with a concealed weapon in her handbag!
Very informative and analytical video. Cheers 👌
Andrew, you need to remember that many people have been conditioned to get solutions handed to them and will not research or take into account their own situation. As a result they will eventually come back to say ' but you said!".
You are very consistent in explaining what and why and that's all you can do!
I am BRAND new to your channel, my best friend sent it to me because HE is obsessed. I am NOW a HUGE fan! Signed up for your newsletter and all 3 bonuses last night based on you just being a real voice!
Awesome! Thank you!
Portugal may have bureaucracy, but unlike anywhere else I've been in Europe, in the US, I had an invasive interview (all kinds of personal questions) upon arriving at the airport for the simple fact I was a foreigner. It left a bad taste in my mouth, along with everything else "the law" represented in every day life in that country.
Dude, don't let a couple aholes ruin ANYTHING for you.
@@user-nh8zt9wl3c I'm not talking about the officers themselves. The protocol is what I'm talking about. Something like that has never happened to me anywhere else I've been outside the US.
@@user-nh8zt9wl3c The USA is a country full of a couple of 350 million aholes.
Thank you for sharing..😊😊😊
Living in Thailand feels like I did good in my life and now I am blessed with good karma🙏Not for everyone, but I have never felt so free and stress-free😊
❤❤
Thailand would be my top choice to retire.
@@ik1408 Between Thailand and China?
@@ik1408 China has tensions with everyone in the region. It's not something I would worry about.
@@ik1408Tensions with china?? 😂😂😂 man don't compare china to America...
Thank you, Andrew. Portugal is #1 on my list of countries to move to. However, a few issues highlighted in the video, have made me rethink that country as a final destination. I'll visit instead.
Exactly, travel, visit, enjoy the culture Portugal have to offer for one or two weeks and then go back to your reality... Portuguese people will thank you, instead of looking at you like you are a disease that is there to screw their affordable lifestyle.
Thank you for sharing this wealth of information.
Our pleasure!
Thanks Andrew, I agree!!
While in Portugal we usually welcome foreigners, the rising cost of real estate to bonkers levels and the fact that up until recently foreigners paid a lot less taxes than the portuguese population makes us feel like we got the wrong side of the bargain ... the gains a few (rich) portuguese get from tourism is offset by most of the population not being able to afford housing in the main cities anymore, so, while we are not asking foreigners to leave, if they do so they are contributing to a better life for most of the portuguese population.
Same in the UK, Foreigners live in Tax-free luxury and urinate on the English sleeping in the streets. All due to corrupt government. We do ask them to leave but they just laugh at us.
@@huudielbo728 Same here in Germany. Berlin has more expats than Germans now, rents have skyrocketed as a result and everybody hates expats and they wonder why.
Portugal ridiculous bureaucracy was made with only one purpose : to make your life harder, they do this very well. I waited 8 months to the have water service on my property! And it is not located in a remote area😡
Then leave!
thats very odd.. i got water service after 2 days, electrical was in the next day and the phiber-optics for my tv and internet took like 4 days, what happened to you? what was the issue?
@@rswpt
Damn, don’t tell any positives: the ex pats have big ears and their wallet are open like most wealthy people who don’t consider us poor people when they go everywhere and run up the prices of everything ❤
Really liked your video.
I am Portuguese and I understand what you said.
Really interesting. Congratulations
Awesome! Thank you!
I'm from South Africa, tried to get into the UK, Ireland, New Zealand, Australia, Canada,USA ... None of those countries wanted me , Portugal the only country that had an option for me via the D7 visa. I'm battling to learn the Language,but grateful I can try get permanent residency for another country.
Cheers!!
Nothing but bots commenting here.
Still retiring to Portugal to get out of the screwed up backwards U.S. and happy to pay the taxes for the social value that comes with it. And I was planning it before Portugal became the it country. Going for the people, lifestyle, culture, beauty, food, weather, social values-not the NHR. And if you want slow-paced life it cuts both ways-you have to deal with slow bureaucracy. Big deal-I’ll take that over the violence, guns, ugly suburbs, car-dependency, shitty rail, privatized “public” space, religious fanatics, dysfunctional two-party politics, crappy healthcare system, hustle culture of the U.S. any day. I want a different culture and lifestyle, not a similar one. And I love learning new languages. Get out of your comfy bubble and have an adventure.
Why not Mexico?
Have you actually lived in Portugal before?
have fun being in gayland and never being able to defend yourself when the nazis show up.
I love Portugal and the people. Tbh as long as we have enough to live I want to stay here whatever.
@@lizhutson1
Where is here?
great video
Good news!
You might want to moderate your site as the Chinese ‘Amazon trolls’ are spamming your comment section 🙄
Report it
Yes. Lived in Puerto Rico. Was tough and this was the US. Language matters for happiness. In USVI now. Much Happier..
USVI is a low key brilliant play. And more stable and less frustrating than PR.
Yes. Really low key. Love it. Just want to be left alone.
Andrew is such a boss 😊👏👏
Like we say in Portugal : ainda ontem era tarde !
1. There will always be a handfull of countries people will flock to. That makes the places they dont wanna go to even better.
2. What you mentioned is a downfall of following the crowd. I did that with the Dominican Republic and learned quickly!!!
I like the advice of not following the crowd. thanks
Those of us who moved here because we loved the culture re glad to see them go
Following the Herd anywhere is never a good ideal!
ANY pension income over $88k is taxed at 48% in PT once the NHR goes away on 12/31/23. In our case that would exceed $75k per year after the U.S. foreign tax credits. We sold the house, the boat and closed our business to relocate in June 2024 and now our Plan B is to use those funds to wander the world and remain only as long as each country allows us to. PT is great for low-income ex-pats who want free health care and lower rents than the U.S. not six-figure earners.
For 6 figure earners, some of the Balkan countries are relatively OK, if you can handle the Balkans. Croatia is less of a culture shock than Montenegro or Albania.
Slovenia is great if you freelance and make around $100k.
Great plan to be nomadic.
l just came to the conclusion that there is no where to go, the whole world is going down the hill.
'A' as always for Andrew. As soon as the 🇵🇹 TH-camr influx gained momentum I saw this coming 🌊. It's no wonder I stuck with Eastern Europe 🇦🇱🇹🇩💫...
Same with Japan. Every 10th person seems to be walking around doing youtubes.
Andrew Costa del Sol property prices have risen even more than Portugal, especially Marbella.
I'm looking to Eastern Europe for retirement. I'm Polish-American, but tired of the heavy Euro elite influence on America (I guess it's been this way since WWI when we decided to participate in their never-ending wars, and of course their banking system). I want peace, quiet & traditional values.
@@futurekronWhy wait so long? If you speak Polish and English, and you have enough money for a house or a condo in one of the bigger cities, you can easily move to Poland right now and you'll be living the good life.
@@The_Monolith Hey there! There's the issue of resident permits. Americans don't have the same liberties in Europe or Eastern Europe as EU members do. We have to get resident permits, and as is the case in BG, a property must be purchased first. No problemo as I can buy a mansion for the sale price of my little home here, but I also have to earn a minimum income, and have been making sure I have a home-based biz that I can take anywhere with no risk. Also, I'm about 2 years away from collecting pension, so want that as a back-up (or, be close to receiving it), and there's the issue of PETS (cats/dogs), getting them set up. I've moved pets overseas before, but it is extremely stressful (for me). So, a lot of logistics to put in place. EAsier said than done, I guess it the old expression. I'm not at the age where I can take risks without much pre-planning and alternative forms of income "just in case."
I returned to the US from Portugal about a year ago having lived there a year. The bureaucracy is a real problem and I often quipped that things were far easier in Central America. (I have Panamanian residency as well.) I considered Portugal my gateway to Europe and the coveted (by me) European passport. The country and people are lovely. It just didn't work for me.
what other European countries would you live in?
Thanks for sharing!
@@user-mq3td5wx2hmake it double and give it to next person, beurocracy is almost a staple here also corruption too, second biggest sector of the economy is corruption 8-10% of total GDP
Because you were n't rich en ough to buy slaves,
@@nomadcapitalist The people I know all bought slaves in Portugal. Anyone will become a slave if y8ou pay them enough money. In India a lousy hundred dollar bill in Portugal y8u give them 100 grand cash in US dollars.
Most Americans find it hard to retire comfortably amid economy downtrend. Some have close to nothing going into retirement, my question is, will you pay off mortgage as a near-retiree, or spread money for cashflow, to afford lifestyle after retirement?
as most investing-related questions, the answer is, it depends.. my best suggestion is to consider advisory management
Impressive can you share more info?
Thank you for this tip. It was easy to find your coach. Did my due diligence on her before scheduling a phone call with her. She seems proficient considering her resume.
I read that Montenegro does not allow dual citizenship if you don’t have family ties there.
Pronounced Monte Negro by racist people like myself.
I read that the PT government will introduce a program similar to NHR but for scientists and investors, can you make a video about that?
"The State Budget proposal for 2024, delivered this Tuesday to Parliament by the Government, puts an end to the regime of non-habitual residents as it is today and eliminates once and for all the possibility that foreign pensioners can benefit from it, However, a new tax incentive for scientific research and innovation, identical to what is now provided for in the NHR regime for taxpayers with professions with high added value, but now aimed at the areas of scientific research and innovation According to the proposal, foreign pensioners who, on December 31, meet the conditions to be able to enroll as non-habitual residents, will continue to be able to do so later next year. The same will happen to anyone who has a residence visa valid on December 31. In that case, may apply for registration until March 31, 2024As for citizens who are already registered as non-habitual residents in the tax authority's taxpayer register, the law currently in force will continue to apply until the ten-year period to which the benefit is entitled is exhausted. The regime for non-habitual residents, remember applies to foreign pensioners, that they can currently benefit from, for a decade, an IRS rate of 10%, but also to people with professions with high added value, what, fulfilling certain requirements, they are also entitled to a 20% rate over a period of 10 consecutive years. This rate will remain the new tax incentive for scientific research and innovation, that taxpayers who have not been tax residents in Portugal in the previous five years and who have income classified as "careers of higher education and scientific research teachers can benefit, including scientific employment in entities, structures and networks dedicated to production, dissemination and transmission of knowledge, integrated into the national science and technology system ""
Or, you could just google it and get the same info in about four sentences. Save a half-hour of narcissistic video blaaaaaaaaa
Don’t underestimate the language otherwise you can be lonely there not participate in daily life, to speak a bit is doable bit to understand everyone around you is hard
Developing countries are improving there economy and progress vastly but let’s be honest here no matter how modern Thailand or the Philippines get or even indonesia you will never see a 4 lane highway going throughout the entire country.
What a typical American commentary.... The point is to live where there isn't this American crap! please stay where you are, we have enough "transplants" polluting us
Can you make a video regarding the new law approved in Germany on 10th november regarding global minimum taxation on how does it affect citizens? I love your videos!
Global minimum Taxation? WTF?
This seems to be for corporate business. I can't find any information for this on personal taxes.
I heard Portugal was a paradise with perfect weather and laws. Glad to hear this. I still love my port wine. From the Douro valley. Thanks for the info.
You lost me at "laws".
I can remember 30 years ago when Costa Rica was the "it" place. These popular fads all eventually pass.
I don’t mind paying taxes as a foreigner in a new country but Portugal’s taxation of citizens is way too high. I feel bad for the Portuguese people. With the NHR, the Portuguese should have also benefited from tax reductions.
When I went to Ireland there was an airline strike the week I was supposed to fly home. :D
Ireland has now turned tyrannical.
Absolutely correct
Ireland is on fire and their society is currently going through a slow-motion train wreck from an immigration standpoint; much like America... I wouldn't go to Ireland.
Why is it "on fire"?
From an immigration perspective they are getting overrun. The citizenry is practically in open revolt against their globalist government. (Read a news paper once in a while..) @@mirabella2154
@@mirabella2154Because people are rioting. It literally IS burning. The police are siding with immigrants instead of school children who were stabbed. Similar protests are happening in France. These are not being covered on the MSM.
Actually, I should apologize to you about reading a news paper. Mainstream "media" would never report on matters like this because is doesn't align with their left-wing/globalist agenda... So I apologize for implying that you are willfully uninformed. But the information is out there. You just have to look for it. Ireland is on fire. (Just like America...)@@mirabella2154
@mirabella2154 Dublin is burning! Do you have Google or a You Tube search engine. Hello!😂
If you're moving to another country just for financial reasons, cheap or free health care (greed) and are not prepared to adapt speak the language mix with the locals, my advice is stay where you are.
Bravo!!
Finally good news!
Portugal might be a good place to retire to or even live if you already made your money elsewhere.
It's not an economy for young people. Zero enterprise. Zero prospects. Just like every other Latin, eastern and southern European nations 😊
not racist at all... and totaly based inreality ... yes sireeee...
Portugal strictly as a back up residency and citizenship is still a great option, it's just harder for the lower price. As it relates to potentially being there long enough that you become an actual tax residence, if you put your non Portugal incoming producing assets into the right type of trusts, you won't have to worry much.
Language: there is an expectation in Europe that if you go to live there, you learn the language.
I've heard great things about Dubai and the Middle East as a whole. It has a thriving economy and plenty of opportunities for growth. The region's ongoing development and modernization make it an attractive destination for many. I understand their reasons for considering it as a possible location to spend the next ten years. I am interested in hearing your opinion about the Middle East.
What a precious delivery
Your productions are always an inspiration Andrew.
I'm in australia and planning to get out. House prices are outrageous, taxes are high, cost of living is high and our natural environment is being destroyed.
Only bonus is finally getting some interest on savings although inflation and tax grinds it down.
Once you reach 60, Australia is an amazing place to live. You basically pay no income tax and no capital gains tax ( inside a super fund - aka a retirement fund). And no inheritance tax. You can find cheap houses if you move away from the larger cities.
@@brettogden6104 yes it's definitely better if you are an older Australian. There's a big wealth gap here between older and younger people.
True about cheaper houses in the rural areas that if you don't mind the heat although anywhere along the temperate coastal areas are extremely expensive.. Even the more remote little coastal hamlets because city investors have snapped up the houses and turned into holiday rentals.
Best of luck!
Come to south east Asia mate, Australia is for old folks and women only
@@KillajmjDitto that comment from this Aussie expat.
I suggest people check out Brazil as a possible option despite the safety concerns. Cheaper cost of living, beautiful weather, beautiful and friendly people, good food and marvelous beaches all over the country. I love it here.
Visited Brazil last year, awesome country and to my surprise I felt very safe there.
@@homyce It is indeed an awesome country. There are problems here but what country does not have them? I would not go back to Canada to live ever again.
Doesn't Brazil have the highest murder rates in the world?
I've already visited Brazil 4 times, and to my surprise I found the country really safe and interesting, it's true you have to be careful in big cities, because in the big centers there really is a lot of crime, but if you leave these big cities the place is very It's safe, but what impressed me most is how the people are: open, friendly, communicative and super happy and fun. You definitely need to learn Portuguese, because they hardly speak English there, but once you speak their language, you can make more friends there than anywhere in the world. Another very positive thing is that the cost of living there is ridiculously lower than in Europe. You would probably spend less than 50% of what you would in Europe and still have a super comfortable stay. Honestly, I didn't like Rio de Janeiro, it was very crowded with people and it didn't really seem very safe, but there are other cities, including beaches, that seemed very safe to me, many beautiful and very pleasant places. I plan to go back there again next year.
@@DeusExMachina50 Yes but most of that happens within gangs inside the favelas which no one will really stay near anyways.
Does your agency only work with high net worth individuals or do you work with all? If not what would you recommend for someone who has not quite yet reached 7 figures?
Consider joining us at our annual live event at www.nomadcapitalist.com/live, where you can gain valuable knowledge, connect with like-minded individuals, and explore opportunities that align with your current situation.
You can move to Ireland and get naturalized without a work visa though...right?
There's over 200,000 Brazilians and only 7000+ Americans in Portugal. (I don't know who owns rental properties though.) It's more likely that property price increases are more the fault of Brazilians than Americans.
Brazilian national here, those numbers are a bit misleading. Those Brazilians are migrating to avoid hardship in Brazil and not as real estate investors like Americans. It is more likely that those Brazilians are suffering the high rent just like the local Portuguese people.
@@cassiocm - Yeah, I get it as I travel Portugal and met some working Brazilians. But nonetheless there's got to be a lot of well-to-do Brazilians among the 220 thousand. That's a huge number.
@@charmerci Most Brazilians in Portugal do low skilled labor. Some go on a tourist visa, stay illegally and become modern day slaves. There's some very wealthy Brazilians in Portugal, but they are a tiny minority.
Never understood the fascination with Bali. Have been there. It’s the Australian version of Magaluf with worse infrastructure. So many beautiful places in the world that are nicer by every metric…
I’ve decided not to go there for this reason… don’t want to be disappointed and don’t want to contribute to the problem.
Good tip for many people. Don't follow the herd. I am afraid that most people are not listening and it's a romantic idea to move to a country in Europe if you are from the US. Every move is a time consuming thing and asks some sacrifices. How many of those Americans that left learned the language before they left. How much did they mangle into the society or stayed only with their expect friends. We moved a bit over two years to Portugal from Amsterdam so we had the European view on things. Smaller and down to earth is what we are used to. I've been to the US a dozen times and there is a huge difference in the way of thinking and treating things or people in the way you do. I noticed most of the Americans I hear complaining about that the things are different here in Portugal are looking for a way to bale out. The other American friends we have adjusted to the system and stop comparing that much. It is a new life with new energy, new friends, new food, new sounds (language and music) and that is surely not for everybody. For me it it's always strange to hear that people blame the country after their experience. It is not the country that asked you to come over but you've got the opportunity to try. It is funny to see that the most people coming in are richer people who can easily afford a more expensive house. There are seldom people from the northern part of Africa coming here as Portugal is seen as poorer European country and they prefer to travel further to the northern part where every works the clock round, no sunlight, stress and poorer social life.
Price of houses in Ireland are Crazy..
Hey Andrew, what are your thoughts on "Carbon Passports", and do you think multiple passports, Citizenship, residencies, Visas etc Can help protect future travel abilities?
We have taken advantage of the GV in Portugal and it fit us perfectly... but like is said in this video ... not for everyone... I totally think it's worthwhile to hire the team at Nomad to help evaluate what is a enormously important decision...
Did you hear what happened in Dublin last week?
Please talk about Uruguay and Argentina
Never thought I'd hear Andrew say, "Bloody Hell!" LOL!
You get out what you put in. If you come to Portugal expecting a free ride, yeah, you're going to be disappointed. The same if you move to the US and expect to find the promised land. Reality is, politics in any country suck. Governments are not working for the people, corporations and billionaires own the world. I came back to Portugal after being away for 40+ years only to find that it has become the playground of the rich! That was disappointing to see. The people who build and maintain these beautiful places can only watch the rich foreigners come and enjoy because the locals cannot afford it. Why? Capitalism. The property owners in Portugal are following the US model of capitalism, profit uber alles. Not sustainable in the long run
Sure, here's a rewritten version of the TH-cam response:
I've been residing in Central Portugal since 2020. While it's undoubtedly distinct from Lisbon or Porto, it's worth noting that many foreigners initially flocked to Portugal when it was the "in" place and settled in the larger cities. Now, a considerable number of them are choosing to depart. From my interactions with those leaving, a common thread seems to be that they've spent their entire lives in their hometowns in the US, and moving to such a foreign environment didn't feel comfortable for them. They miss the familiarity and conveniences of home. This appears to be the primary reason for their departures, and notably, they aren't relocating to another foreign country; they're simply returning to the US.
In my town, there haven't been as many foreigners compared to Lisbon or Porto. While rents have seen an increase, it hasn't been as drastic as in the larger cities.
Regarding taxes, it's crucial to consider the nature of your income, whether it's passive income, dividends, capital gains, or regular income. It's worth noting that the US is one of the few countries that tax based on nationality rather than residency.
I would strongly advise consulting a tax professional well-versed in various tax jurisdictions for personalized guidance.
Ultimately, the decision on where to live should align with your comfort and preferences. I agree wholeheartedly: don't simply follow the crowd; follow your heart and mind.
Ireland currently has a lot of social unrest due to the migrant crisis, plus it rains A LOT.
Real estate speculation by foreigners is making impossible for locals to buy or rent a house
I saw that coming. I lived in Portugal a few years back. It is absolutely beautiful, but the people are not the friendliest. Also, it is a poor country. And although I speak the language, I never felt welcomed. Many Portuguese people are not interested in having non Portuguese friends.
Americans who are praising Portugal are the Americans who only have English speaking friends.
Americans are overpaying in rent, which is creating a homelessness problem there.
I would love to know the numbers. Is it a few hundred or a few thousand?
absolutely spot on about the people being smiley but not actually friendly in the true sense
I sense a lot of projection from your comment.@@user-bg2tn4kg5m
It' a wrap in Lisboa! Prices are stupid. Sellers aren't truly motivated.
Miami is sucked down now. There are too many people that move to miami and people in miami are not liking living there anymore
Miami had always been trash.
@@Ray-pp5qb I can't disagree with that now. They are rich trash from all the drugs they're selling
Now the PIIGS countries have been replaced by FIBS: France, Italy, Belgium and Spain. Portugal has already left that list.
Please explain
@@CryptoversityIn the 2008 crisis, (PIIGS) Portugal, Italy, Ireland, Greece and Spain went through debt crises and, now, Portugal, Greece and Ireland have emerged from that crisis, which, in the meantime, have been joined by France and Belgium.
Well Portugal dropped the special non habitual resident tax regime.
Last week, a Real Estate Agent said it was being extended.
No. No they haven’t
My parents live half the year in Portugal. Every year there are more and more Americans. I visited last summer and American and Brits are everywhere. My parents love it but they could afford to buy a beautiful apartment.
I was in Sri Lanka 2019 and loved it, does anybody have any pros and cons of living there? 🙏
The roaming packs of aggressive stray dogs, not of the human variety
economy, govt is erratic
imagine going to another country and expecting people to speak your own language or have things like back home.
pmsl!
Spanish real estate prices are stagnant because of extreme overbuilding and horror stories about invalid permits and properties being taken over by squatters.
They have a WATER issue as well
One cannot expect to get portuguese citizenship without learning the language and the History of the country just like one would in the US
Property prices in Ireland are nuts again so no benefit there vs Portugal..
Portugal is good for a holiday, forget business, probably one of the worst for business.