Your all-in-one guide to cost of living in Portugal for South Africans
Cost of living in Portugal: Your one-stop guide for all you need to know while planning a move from South Africa. Plus, money transfers with Wise!
Moving to Portugal from South Africa: Go-to Guide!
With an average of more than 300 sunny days a year⁵ and locals that have been voted the friendliest in the world⁶, Portugal has unsurprisingly become an attractive option for those seeking to move abroad. The country’s warm climate, welcoming culture, and low crime rate have also attracted many South African nationals considering moving to Portugal from South Africa.
For those thinking about making this move, the article will explain everything you need to know. Including how to apply for a Portuguese long-stay visa as a South African, how to open a Portuguese bank account when you arrive in the country, and tips for finding a job in Portugal before you relocate.
We’ll also quickly introduce you to Wise, a bank alternative specialising in international money transfers from Portugal to South Africa a whole lot easier⁴!
Moving to Portugal from South Africa (quick facts)
| Currency | Euro (EUR) |
| Population | 10.23 million⁷ |
| Capital | Lisbon |
| Languages(s) | Portuguese, English, Mirandese, Barranquenho, Minderico |
| Weather | Portugal is known for its warm Mediterranean climate and boasts an average of more than 300 sunny days a year⁵. There is a distinct wet season in winter, with the average temperature around 16°C (61°F). |
| Number of expats | Around 800,000 (9% of the total Portuguese population)⁸ |
| Biggest cities | Lisbon, Porto, Vila Nova de Gaia, Braga, Amadora |
| Average yearly salary | Full-time employees earned an average of €22,000 for the tax year ending on 5 April 2022⁹ |
Send money to South Africa from Portugal using the mid-market rate
Wise can help South Africans moving to Portugal save money¹ when making international transactions to South Africa.
The mid-market exchange rate is the rate that banks use to transfer money between them and is considered as the fairest exchange rate in the market.
Portuguese banks will typically **add a markup on top of the mid-market exchange rate for international payments **that the customer ends up forking out. Find out what you would pay for an international money transfer with Wise:
At Wise we use the mid-market rate and only apply a small transparent fee for international payments¹.
Therefore, Wise can help South African expats save money¹ when making overseas payments from Portugal to South Africa.
Portugal visa types and requirements
To stay in Portugal for over a year, South African nationals need to apply for a long-stay national visa, also known as a residency visa. There are multiple types of long-stay national visas in Portugal, and the most relevant are listed below.
Work Visa
South Africans who want to work permanently in Portugal will need to apply for a Portugal work visa.
To be eligible for this visa you must receive an employment offer from an employer in Portugal for a job opening that has been posted for at least a month. This is so the relevant authorities can certify that another Portuguese or EU citizen couldn’t have filled the role.
After securing a job opportunity in Portugal, it is the responsibility of your new employer to apply for a Work Permit on your behalf.
Portugal Golden Visa
South African nationals can qualify for a Portuguese residency permit by making an investment through the Portugal Golden Visa programme. Possible investment routes include:
- Investing a minimum of €500,000 subscription in a qualifying Portuguese investment fund, known as "fundos de capital de risco"
- Creating a minimum of 10 new full-time jobs in a Portuguese business that you own
- Investing a minimum of €250,000 in preserving national heritage
- Investing at least €500,000 in development activity and research in the country
Portugal D7 Visa
The D7 visa is also known as the Retirement or Passive Income Visa. It was created to encourage non-EU citizens to retire in Portugal, however, South African freelancers who work remotely for an employer outside of Portugal might also be eligible for this visa subject to requirements.
Portugal D2 Visa
The Portugal D2 visa allows entrepreneurs and freelancers to gain Portuguese residency by starting a business or relocating their existing company to the country.
To meet the requirements for a D2 visa, you need to demonstrate you have created a company operating outside of Portuguese territory or have enough financial resources in the country to set up a company in Portugal.
Cost of living in Portugal
For South Africans looking to relocate to Portugal, it’s important to compare the cost of living in Portugal vs South Africa.
Portugal is considered relatively inexpensive compared to other countries in Europe and the US. Dining out, public transport, and attending local and cultural events are more affordable than in neighbouring EU countries.
| Estimated monthly costs for a single person (without rent) | 616 EUR (12,722 ZAR)¹⁰ |
| Average monthly cost of a one-bedroom apartment in the city centre | 775 EUR (16,006)¹⁰ |
| Average monthly price of a one-bedroom apartment outside the centre | 601 EUR (12,412 ZAR)¹⁰ |
Living in Portugal’s big cities is generally more expensive than living on the country’s coastline. However, living in Lisbon and Porto is still a lot cheaper than most other big European cities.
How to open a bank account in Portugal?
Opening a Portuguese bank account is an essential step when relocating to the country. The majority of banks in Portugal require you to visit the branch in person to open a new bank account. There are a few banks that might allow you to begin the process online, but you’ll usually then have to go to the physical branch to complete the setup process.
Before visiting the branch, it’s recommended to find out if they have English-speaking staff. Otherwise, taking someone who can speak good Portuguese with you will make the process a lot easier.
You will generally need the following documents to open a Portuguese bank account:
- Paperwork confirming your Portuguese NIF number (a _Número de Identificação Fiscal _is essential to be able to pay taxes and open a bank account)¹¹
- Proof of a Portuguese address
- Proof of employment or recent pay slip
- Any additional documents (for example, proof of studying if applying for a student account)
- Some banks may require a minimum deposit
Maintenance fees and charges
Opening and using a current account with a Portuguese bank is usually free. However, some banks might ask for a minimum deposit which ranges typically from €100 to €250.¹² Some accounts might also have a monthly charge between €2.50 to €7.50¹² if they offer additional services or competitive perks.
Withdrawing money from ATMs in Portugal is usually free since most of the main Portuguese banks are part of the Multibanco service. However, it’s recommended to always double-check with your individual banking provider.
Finding a job in Portugal
The job market has steadily been improving following Portugal’s recovery from a national economic crisis. Since the country doesn’t attract as many foreign workers compared to bigger European economies, finding a job in Portugal as a South African expat can be relatively straightforward if you have the right qualifications.
You can search for jobs in Portugal on many online portals:
- The Portuguese Public Employment Service (Instituto do Emprego)¹³
- Empregos Online¹⁴
- Net Empregos¹⁵
- Learn4Good¹⁶
- SAPO Emprego¹⁷
- Indeed¹⁸
You can also look for English-speaking jobs in Portugal:
- Jobs in Lisbon¹⁹
- Portugal Resident²⁰ (look for job adverts in the classified section of this English-language newspaper)
When looking for a job in Portugal it’s worth keeping in mind that Portuguese business culture has a big focus on building close relationships. This means that many businesses in the country are still family-run, while meetings and negotiations can often be more personal than expats might be used to.
Requirements for professionals moving to Portugal from South Africa
Many South African skilled workers will need to apply for a Portugal work visa to reside and work in the country legally.
To apply for this visa, you need to submit the following documents:
- Valid passport
- Passport-sized pictures
- Proof of sufficient finances to live in Portugal
- Your criminal records from South Africa
- Proof of health insurance coverage
- Permission stating you allow SEF to check your Portuguese criminal records
- Proof of accommodation in Portugal
- Contract of employment
Requirement for students moving to Portugal from South Africa
Portugal is also an attractive choice for many South African students looking to study abroad. This is due to its reasonable tuition costs and varied selection of courses.
Since most courses are taught in Portuguese, foreign applicants need to prove their knowledge of the language to study in Portugal.²¹ While the majority of applicants need to obtain a Portuguese language level of B2, some universities can admit students with a B1 language certificate, provided they raise this level during their studies.
The same language requirements also apply if the course is taught in English.
For courses or research projects longer than 90 days, South African students need to apply for a long-term student visa (Type D). To apply for this visa, you need to submit the following documents:
- Letter of acceptance from a Portuguese university
- Valid passport
- Two passport-sized photos
- Coloured passport photocopy
- Proof of financial resources to support yourself
- Proof of application fee payment
- Proof of travel health insurance for the Schengen area
- Valid travel ticket
- Confirmed arrangements for accommodation
- Criminal record certificate from South Africa
Within four months of arriving in Portugal, South African students who have applied for a Type D long-term student visa will also need to apply for a Residence Permit at a local city council hall. You will need to bring the following paperwork to your appointment:
- Completed student visa application
- Valid passport (including one photocopy)
- Two passport-sized photos
- Proof of financial resources to support yourself
- Proof of medical insurance
- Proof you have appropriate accommodation in the country
- Proof you have paid any outstanding tuition fees
- Proof of registration at a Portuguese university
Make friends and socialise
Given Portugal’s locals have been voted the friendliest in the world,⁶ making new friends and meeting people is notably easy for expats. There is also a solid community of South African expats growing in the country, with various Facebook groups like ‘South Africans in Portugal’²² and ‘South Africans living in the Algarve - Portugal’²³ dedicated to bringing newcomers together.
As well as joining the local expat community, there are a few other ways you can make friends in Portugal:
Go to local events
Portugal is known for its great events scene and attending local and cultural events is a great way to meet new people and experience Portuguese culture first-hand. The country is home to an impressive array of events including world-renowned music festivals, concerts from local and international artists, and impressive museum functions.
Work at a coworking space
For freelancers and remote workers, joining a coworking space can be another great way to meet people. Coworking spaces are skyrocketing in popularity, especially in the big Portuguese cities of Porto and Lisbon. Many also organise social events so workers can make new friends outside of the work environment.
Learn Portuguese
Improving your Portuguese (or starting to learn the language from scratch) won’t just help you meet new people, but will also enable you to connect with locals. Joining a language exchange programme can help you gain a further understanding of Portuguese culture and customs, while signing up for language classes will likely allow you to meet other expats also looking to broaden their language knowledge.
Healthcare in Portugal
The quality of healthcare in Portugal is high; Portugal spends around 10.6% of its GDP per annum on the country’s healthcare system.²⁴
Expats who have registered as Portuguese residents can access Portugal’s national health service (SNS) for free on the same basis as a Portuguese citizen.²⁵ However, while healthcare costs are covered by the state, patients pay standard user fees known as ‘‘taxas moderadoras’²⁵ - similar to the NHS in the UK.
Some residents also choose to get private health insurance in Portugal. This is because it’s relatively more affordable than in other countries.
Is it worth moving to Portugal from South Africa
It’s important to weigh up the pros and cons when considering moving to Portugal from South Africa. One way to do this is to compare the many advantages and disadvantages of relocating to the country.
| Advantages | Disadvantages |
|---|---|
| Making new friends and meeting new people is easy given the friendliness of Portuguese locals. | The average salary in Portugal is at the lower end of salaries from other countries in the EU. |
| Portugal is one of the safest countries in the world and has a very low crime rate.²⁶ | Portugal is a relatively small country, so there are fewer job opportunities available. |
| Portugal’s location on the western coast of Europe makes it accessible to explore the rest of the continent. | Knowing at least a basic conversational level of Portuguese is essential to fully integrate into Portuguese society. |
| The cost of living in Portugal is low compared to other countries in Europe. | Portuguese bureaucracy is very slow and processing documents can be tedious and tiresome for new residents. |
| The quality of healthcare in Portugal is high, with the country using a system similar to the UK’s NHS. | Winter can be cool in Portugal and the majority of houses aren’t equipped with central heating which can incur additional costs to heat up your home. |
If you’re considering moving to Portugal from South Africa, you’ll need to consider the advantages and disadvantages above. It’s also important to familiarise yourself with the different visa options for living and working in the country, as well as the process of opening a new bank account as a South African expat in Portugal.
In terms of money management, Wise is a great money service provider for international⁴ payments from Portugal to South Africa.
Sources:
- Please see Terms of Use for your region or visit Wise Fees & Pricing for the most up to date pricing and fee information.
- Transaction speed claimed depends on funds availability, approval by Wise’s proprietary verification system and systems availability of our partners’ banking system, and may not be available for all transactions.
- Eligibility is subject to verification of customers identity. Wise may request additional documents to verify a customer's identity.
- Please note that certain products or features may not be available in all regions. Please visitwww.wise.com to check for availability and learn more about our offerings.
- Portugal sunny weather
- Most welcoming countries in the world
- Portugal population
- Expat population
- Portugal's annual salary
- Cost of living in Portugal
- Portuguese NIF
- Maintenance fees and charges
- Portuguese Public Employment Service
- Empregos Online
- Net Empregos
- Learn4Good
- SAPO Emprego
- Indeed
- Jobs in Lisbon
- Portugal Resident
- International students in Portugal
- South Africans in Portugal Facebook Group
- South Africans living in the Algarve - Portugal Facebook Group
- How much does Portugal spend on healthcare
- Accessing the healthcare system as a resident
- Portugal ranks as one of the safest countries in the world
*Please see terms of use and product availability for your region or visit Wise fees and pricing for the most up to date pricing and fee information.
This publication is provided for general information purposes and does not constitute legal, tax or other professional advice from Wise Payments Limited or its subsidiaries and its affiliates, and it is not intended as a substitute for obtaining advice from a financial advisor or any other professional.
We make no representations, warranties or guarantees, whether expressed or implied, that the content in the publication is accurate, complete or up to date.
