| Tax Authority | Autoridade Tributária e Aduaneira (AT) |
| Website | http://www.portaldasfinanças.gov.pt/ |
| Tax Year | 1 January to 31 December |
| Tax Return due date | 30 June |
| Is joint filing possible | Yes |
| Are tax return extensions possible | No |
Money in Portugal
Resources may be limited but there are so many needs
Finding accommodation, organising healthcare plans and sorting out schools. There is so much to think about when you are moving to a new country. One of the most important things you need to do is make sure your finances are in order.
Some of the biggest challenges are having financial commitments in both your home and host country, juggling finances in different currencies, moving money between countries, having more money to manage, and dealing with a more complex tax situation.
Euro Exchange Taxes Rate (1 EUR)
| 1.21 USD | (U.S. Dollar) |
| 130.96 JPY | (Japanese Yen) |
| 0.88 GBP | (British Pound) |
| 1.20 CHF | (Swiss Franc) |
Money
The official currency is the euro (EUR), which is divided into 100 cents.
Local Information
2018 National Tax Rates
Life Cost
Achieving the balance between Cost and Quality of Life
Accommodation
Groceries
Transport
Eating out
Utilities/household expenses
Apartment / House Montly Rent
| Apartment (1 bedroom) in city center | 900,00 € |
| Apartment (1 bedroom) outside city | 650,00 € |
| Apartment (3 bedrooms) in city center | 1.800,00 € |
| Apartment (3 bedrooms) outside city | 1.500,00 € |
| Townhouse (4 bedrooms) outside city | 3.000,00 € |
| House (4 bedrooms) outside city | 2.000,00 € |
Before you move
It’s best to have your new banking arrangements in place before you move because local banks usually require a credit history and proof of address, which you won’t have when you arrive.
To avoid the difficulties of opening an account in a new country, you can open an offshore account before you leave home. This will give you easy access to your money when you arrive.
If you use a bank with a global network, they may be able to open a local account and transfer your credit history, so everything is ready for you on the day you step off the plane.
Ask GETiN solutions regarding local banks, we can advise you at info@getin.pt.
Talk to Experts
Banks
Having the right banking arrangements is a key part of expat life. Your money should be easy to access and transfer between countries. Financial security is also important – so choose a reputable bank that complies with international regulations and has a solid capital base.
Most expats have a bank account in their home country and a local account in the country they’ve moved to.
Movements
Education
Protection
Pension
Inheritance planning
Educating children abroad can be an expensive business because you can’t always send them to the local school. Even if private schooling is paid for as part of your relocation package, be prepared for significant extra costs, as international schools tend to have lots of extracurricular activities.
If you want your children to be educated in your home country, you’ll have to budget for boarding fees, along with flights so they can join your family at the end of each term.
Check the School Search Program from GETiN
Family Planning
Adjusting quickly to a new way of life is particularly important for expat families. As any parent knows, bringing up children doesn’t come cheap. As well as keeping them entertained, you want to give them the best start in life. And that means giving them a good education along with plenty of opportunities to develop their talents and interests.
Calculate the Cost
When you move to a new country, a change in the cost of living can have a big impact on your finances. If you’re moving with your job, your employer may help with expenses such as accommodation or school fees, but relocation experts say these perks have been cut back in recent years as a result of the economic downturn. It’s therefore vital that you take all your new living costs into account. And don’t forget that setup costs such as buying a car and new furniture can take a big chunk out of your relocation budget.
why do not save some money ? Contact info@getin.pt
Calculate life costs
Medical Insurance
Extra expenses
When you’re planning to move abroad, it’s important to know how much money you’ll need to enjoy the same lifestyle as the one you have currently. This will help you negotiate your salary (if you’re moving for a job), make housing market comparisons and give you a sense of what your everyday expenses will be.
If you have any queries please ask us at info@getin.pt