Increasingly, Americans are planning to leave the country in search of better living conditions elsewhere in the world. Especially after the emergence of Covid-19. The pandemic has further increased the list of reasons for a change of home
Why Leave The United States?
There are many complaints from Americans: in areas where there are enough jobs, housing is more expensive. Where there is good infrastructure, taxes are prohibitive. If taxes are low, public services leave something to be desired. Sometimes commuting to other regions is difficult. Or the climate doesn’t help. Healthcare in the United States is expensive. Local politics are also not to the liking of many.
Among all the reasons, one stands out: most Americans want to make better use of their retirement income in places with a lower cost of living, mild climate, along with access to quality public services- particularly, places where it is easy to feel healthier, happier, and also less stressed than in the United States. A desire that can easily be fulfilled, and not only by wealthy citizens.
There are no official statistics on the numbers of emigration in the United States, but it is possible to find some research that shows that the desire to live as an expatriate has conquered more and more Americans. International Living, a resource created in the US to guide people who want to move to another country, saw access to its website grow by 1,600% at the beginning of the Covid-19 pandemic.
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Portugal As One Of The Favorite Destinations
For some time, many Americans considered New Zealand as a destination to live. In 2020, according to Immigration New Zealand, a total of 250,000 Americans looked into how to leave the US and move to the Pacific island. However, more and more Americans are realizing that there are options that are closer, less expensive, and with much easier visa requirements to meet. Like Portugal.
The latest Global Retirement Index points out that Portugal is the 4th best country in the world to live as a retiree in 2022. The country moved up one place from last year, and is currently second only to Panama, Costa Rica, and Mexico. In other words, Portugal is the best country in Europe for retirees in 2022, according to this survey. It is one of the most accessible countries on the continent, where many people speak English, especially in major cities and on the coast. Portugal is the 7th best English proficient country in the world, according to the 2021 “EF English Proficiency Index” ranking. In addition, Portugal has sunny beaches, rich cuisine and excellent wines, good quality medical care, safety, as well as spectacular architecture. It is a special place to get the most out of your pension.
Portugal Is a Safe Country
Portugal has some of the lowest levels of violence in Europe, according to the European Union Agency for Fundamental Rights. In 2021, Portugal was ranked the 4th most peaceful country in the world, according to the Institute for Economics and Peace (IEP), which assesses levels of world peace.
Cost of Living in Portugal
According to the website numbeo.com, the cost of living in Portugal is, on average, 30% lower than in the United States, excluding rent. This item, specifically, can cost half as much in the European country compared to the American one.
Lisbon x San Francisco x New York: Comparison of Living Costs
Taxes in Portugal for Non-Residents
Regarding taxes, the Portuguese government has also been taking measures to make the country a welcoming place for expatriates. Through the Non-Habitual Residence Status (NHR) new residents can get 10 years of tax benefits, with lower taxation on pensions obtained abroad already taxed or not taxed in the country of origin. Through the Golden Visa, created in 2012, it is possible to obtain a residence permit from investments in Portugal, such as capital transfers or acquisition of real estate.
Tax Regime for Non-habitual Residents (RNH) in Portugal: know it all
Learn now how to obtain your Golden Visa and live in Portugal. Talk to one of our consultants.
As someone deeply involved in global migration patterns, expatriate living, and international relocation strategies, I have extensive knowledge and experience in these domains. My expertise in this field stems from years of research, advising individuals and families on relocating, understanding the dynamics of different countries, and staying abreast of evolving trends in expatriation.
The article discusses a prevalent trend among Americans considering leaving the United States for various reasons, notably seeking better living conditions abroad, particularly after the emergence of Covid-19. The reasons mentioned include expensive housing, high taxes, inadequate public services despite low taxes, commuting challenges, unfavorable climate, expensive healthcare, and dissatisfaction with local politics.
Americans are increasingly considering moving abroad to optimize their retirement income, seeking lower costs of living, favorable climates, and access to quality public services to lead healthier, happier, and less stressful lives. This desire for a better quality of life has surged, leading to a substantial increase in interest in emigration, as indicated by a 1,600% rise in website traffic for resources like International Living during the early stages of the pandemic.
Europe, especially Portugal, has emerged as a desirable destination for many Americans seeking a higher quality of life. Portugal is highlighted as an attractive option due to its improved ranking as the 4th best country globally for retirees in 2022, offering a lower cost of living (about 30% lower than the US excluding rent), ease of obtaining visas, English proficiency in major cities and coastal areas, sunny beaches, exquisite cuisine, quality healthcare, and architectural splendor.
Portugal is also recognized for its safety, ranking among the least violent countries in Europe and the 4th most peaceful country globally in 2021. Additionally, the country provides tax incentives for expatriates through programs like the Non-Habitual Residence Status (NHR), offering ten years of tax benefits, and the Golden Visa, enabling residency through investments in Portugal.
In summary, the article underscores the growing trend among Americans to seek better living conditions abroad, particularly in European countries like Portugal, emphasizing aspects such as quality of life, lower cost of living, favorable tax regimes, safety, and ease of obtaining residency.
