Google getting a retirment visa in Portugal and you are going to get a flood of information coming at you from all kinds of sources, including expats with experience and lots of consultants/lawyers offering their services.
It seems all very straight forward from the Toronto Consulate’s website. Apply in Canada for a D7 visa, if approved travel to Portugal for a meeting with their immigration service and then get residency for one year. You can renew that for two years, then an additional two. At that time you can apply to become a permanent resident or citizen.
The qualifications don’t seem to onerous, but from what I have been reading it seems like a lot of work to get all your ducks in a row. You need to apply in your country, but already have a bank account set up and funded, a guaranteed place to live (even though you don’t yet have a visa), as well as a source of passive income at least the same as the minimum wage in Portugal.
One of the most interesting things that I have found so far is the Nonhabitual Resident tax scheme that only taxes pensions at 10 per cent. It’s linked to the double taxation treaty that Portugal has with Canada, which exempts you from tax on the first C$12,000 on your pensions. Don’t try reading it, it will make your head explode.
This has given me lots to think about. I’m going to have to get some advice from an international tax accountant here in Toronto when I get back from my trip in October to figure this all out and have a plan to work towards.
