Laying the foundation for renting or buying property in Portugal

Happy Sunday, amigos!

After three years of enduring my neighbour’s dogs’ nightly barking sessions like some megaphone-wielding rave-goers, I finally gave my arm a break from tossing oranges at them at 2 a.m. and just bought a simple sleep kit—a mask and noise-canceling earplugs. Has it helped? Mostly. The barking is no longer giving me an early morning arm workout, but on especially quiet nights, it still pierces my sleep like a blunt steak knife.

It got me thinking though, wouldn’t it be great if we knew these little quirks before moving in? The severe mold issues, the neighbour with sheep that destroy our flowers, the never-ending flies in summer because of the pig farm on the other side of the hill….

If you’ve had your own share of property surprises, you’re not alone. That’s why The Expat Hustle has teamed up with a property expert to tackle all things real estate—renting, buying, hidden pitfalls, and everything in between.

And here’s where you come in: tell us what’s keeping you up at night (literally or figuratively). What’s been your biggest property frustration? What do you wish someone had warned you about? Send in your questions, and we’ll get real answers straight from the experts. Let’s uncover the real estate truths no one talks about!

While I wait for your submissions, our property expert has provided us with the first article this weekend, covering the basics of what you need to know. Find it in the Lifestyle section below. Already familiar with everything on the list? Well, send me your nagging questions, and we’ll do a deep dive when the next property insights article drops in mid-March, so stay tuned!

💌 Enjoying this newsletter? If it’s made you laugh, think, or question your life choices (like moving next to a pig farm), share it with a fellow expat!

What we’ll dive into today:

🔹 Residency Updates: Newes from AIMA on residency and immigration.

🏡 Buying or Renting in Portugal: A free article download covering the must-know basics.

💳 Pay Like a Pro: The easiest way to pay for almost everything—MB WAY explained!

Let’s dive in! 🚀

📷 Pic of the week

Praia da Arrifana is a picturesque beach located near the village of Aljezur in Portugal's Algarve region, renowned for its excellent surfing conditions and stunning natural beauty, and forms part of the Vicentine Coast Natural Park.

📰 What’s Happening: The Residency Scoop

🛂 AIMA — Renewal of Residency Permits and Visas 

Still waiting to get your residency renewed? You now have until 30 June 2025 to get the renewal done. A decree issued in July 2024 extended the validity of expired visas and residence permits until June 30, 2025. This measure applies only within Portugal and does not affect travel within the Schengen Area or EU rules. Don’t wait around to get your renewal done though, there’s quite a backlog of applications, so make sure you tackle this as early as possible.

🪙 Changes to the Golden Visa Program 

Coming Up In Next Week’s Newsletter: The Truth About Portugal’s New Tax Regime (TISRI/NHR 2.0) Portugal’s Non-Habitual Resident (NHR) tax regime is officially gone, and in its place, we now have TISRI (aka NHR 2.0). But what does that mean for expats looking to move to Portugal (or those already here)? Here’s a sneak peek at what we’ll cover in next week’s issue:

✅ Stricter Eligibility – TISRI is not for everyone. You now need to be in a high-value profession or invest in a Portuguese business to qualify.

✅ Still a 10-Year Tax Break – If you meet the requirements, you can benefit from tax perks for a full decade.

✅ Foreign Income Rules Have Changed – Some income is still exempt, but there’s a catch (especially for retirees).

✅ Golden Visa Holders, Listen Up! – If you plan to move to Portugal, you may be able to combine TISRI with your Golden Visa for added tax advantages.

✅ New Deadlines & Application Process – The clock is ticking! You’ll need to apply by January 15th of the following year (extended to March 15, 2025, for early applicants).

Want the full breakdown? Next week, Fresh Portugal will guide us through everything you need to know about TISRI, so you can plan smarter. Stay tuned!

🔑 Residency Essentials: What you need to know

Individuals can apply for permanent residency after five years of continuous legal residence in Portugal. Key requirements include:

• Proof of income and accommodation.

• Sufficient Portuguese language knowledge.

• A valid temporary residency permit.

For temporary residency, applicants must provide documents such as a passport, proof of financial means, health insurance, and housing arrangements. Temporary permits are renewable and can lead to permanent residency after five years. Considering Portuguese citizenship as the next move? The advantages are extensive, as you’ll read here.

🏡 Lifestyle: Eat, Pray, Love—and everything in between

📢 Exciting News! Today we’re launching our Monthly Property Insights series in collaboration with Fresh Properties! 🎊 

Once per month, we’ll share insights into buying or renting in Portugal, answering some of your biggest questions or concerns. But before we dive into the nitty-gritty of contracts, costs, and common pitfalls, we’re kicking things off with the basics and laying the groundwork for all our future discussions.

💡 Thinking of buying or renting your first property in Portugal? Here’s what we cover in the PDF download below:

• Market Overview – Property prices vary by region, with Lisbon, Porto, and the Algarve being the most expensive. Rural areas offer more affordable options. Legal Basics – Expats can buy property in Portugal without restrictions but need a NIF (Tax ID) and legal representation.

• Buying Process – Step-by-step guide, from mortgage pre-approval to final registration.

• Costs to Consider – Taxes, lawyer fees, notary costs, and ongoing property expenses.

• Renting in Portugal – Typical rental terms, contract requirements, and additional costs like security deposits and utilities.

• Working with an Agent – Why a local real estate agent can simplify the process.

📥 Download the full guide below for all the details:

With thanks to our collaborators: Stephanie Box, the Real Estate Consultant at Fresh Properties, for her valuable insights and contributions to this article.

For more information on all things property reach out to Stephanie through her email below. Alternatively, try the surprisingly helpful Virtual Estate Agent on their website.

Email: [email protected]

🛠 Local Tips & Tricks

Little bits of “insights” to help you settle in like a local.

📱 Freshly landed? Get a Portuguese SIM card ASAP: Many services require a local number, and some won’t even send verification codes to foreign numbers.

🚗 Speed limits are more like "guidelines" on highways: But watch out—random speed cameras exist.

💰 Money Corner

💶 MB WAY—The easy way to pay for almost everything

It took me a solid three years in Portugal to understand what MB WAY is. (I know, embarrassing.) But as an expat, you quickly get used to admitting you don’t know things on a daily basis… until it gets old, and eventually, you just start pretending you know stuff. Just me? 🤔 

Well, in case you’ve never asked what MB WAY is, or you kind of know but not sure how useful it actually is, here is the breakdown I wish I had when we arrived:

• Cardless Cash Withdrawals – You can withdraw cash at any Multibanco ATM just by generating a code in the app—perfect for when you forget your wallet.

• Instant Transfers (No Fees Between Banks) – Send money to friends or pay for shared expenses instantly, even if they use a different bank. No waiting, no fees.

• Pay in Shops Without a Card – Many stores accept MB WAY payments, so you can just tap your phone or scan a QR code to pay.

• Online Shopping Without a Card Number – Generate a temporary virtual card in the app for secure online purchases.

• Bill Splitting & Shared Expenses – Easily split restaurant bills or rent with friends directly through the app.

• Safer Payments – Since it's linked to your phone, you can avoid carrying cash or multiple cards, reducing the risk of loss or theft.

Getting Started with MB WAY

Setting up MB WAY is super easy, but you’ll need a Portuguese bank account first. Here’s how to do it:

Step 1: Activate MB WAY Through Your Bank

If you bank with Millennium, Activo, Caixa Geral, Santander, BPI, Novo Banco, or others, you can activate MB WAY directly through their app.

At a Multibanno ATM: Insert your bank card and enter your PIN. Select MB WAY from the menu. Choose Activate MB WAY and enter your Portuguese phone number. Set a 6-digit MB WAY PIN (you’ll use this for transactions).

Step 2: Download the MB WAY App

• Get the app from the App Store (iOS) or Google Play (Android). 

• Open the app and enter your phone number (the one linked to your bank account).

• You’ll get a confirmation code via SMS—enter it to complete activation.

Step 3: Start Using MB WAY!

Send & Receive Money Instantly – Just enter the recipient’s phone number.

Withdraw Cash Without a Card – Select "Levantamento MB WAY" in the app, get a code, and use it at any Multibanco ATM.

Pay in Stores & Online – Choose MB WAY as your payment method, or use the QR code feature for quick payments.

And that’s it! 🚀 

Feel free to test out your new app by buying me a coffee ☕️😁 

🗣 Lost in Lingo

Before rushing into your property search, here’s a super helpful video to get you familiar with the basic vocabulary of real estate in Portuguese. While many estate agents speak English, it’s invaluable to understand some of the terms landlords and other parties use—and no one explains it better than the Portuguese Lab! I’ve shared this lesson before, but it’s definitely worth repeating.

…And That’s All Folks

Trying to pay with cash, but they only accept MB WAY? You don’t have an excuse anymore.

Thanks for reading! 💌

Hustle on!

Angelique🧞‍♀️

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