How to open a Portuguese Bank Account in 4 days as a Canadian

This advice is for Torontonians or Canadians who can make it to Toronto for a day. Part of the mandate of this site is to give information specific to Canadians. When a lot of sites give information relevant to Americans, it can lead you to spending extra time and money that is no necessary. Opening …

The Betrayal

In June 2025, the current “minority” government bowing to pressure from Chega, introduced new Citizenship laws, raising the residency from 5 years to 10 for Canadians, making it amongst the highest in Europe. The government is proposing to apply these laws retroactively,

Chega (Portugal’s PPC)

Chega is basically the political equivalent of the People’s Party of Canada. The main difference is that Chega is the current opposition party with 60 seats compared to the governing party’s 91 seats, and is gaining popularity every day. This should give any Canadian thinking of choosing Portugal second thought.

Taxation in Portugal

Income Tax and Sales Taxes are much higher in Portugal than in Canada, however there is a program called NHR that can greatly reduce your tax burden. There are also some “gotchas” when moving from Canada to Portugal, namely Canada’s vicious “departure tax.

Why I Choose Portugal

Some people choose to live in Toronto and work very hard and then move to a warmer climate where they can sit on a beach all day and retire. I am choosing the middle path. I can work in Europe at a slower pace and make less money and start enjoying fantastic beaches and culture now rather than wait until I am older. I am easing into a later stage in life where money matters less and quality of life matters more.