One of the most popular ways to do this is by renting out your property as a holiday let when you are not using it, to offset the cost of the property, or by turning your new home abroad into a profitable B&B business.
If that’s not for you, there’s nothing to stop you from setting up your own company. You can buy a franchise, an existing company or start from scratch. This is by no means an easy or risk-free option, but if you have existing success with running a company, it could allow you to maintain your lifestyle in Portugal. However, even economic conditions aside, it can be tough to set up business in Portugal as a foreigner - tax and employment regulations might not work out financially for you, and of course there is also the language barrier.
Those jobs that might seem like a dream way to earn a living back in the UK can turn out to be the opposite, and with dire consequences. Running a bar or restaurant is a popular option with expats abroad, but the ones who succeed at this are the ones who approach their new life in the sun with commitment and not as an extended holiday - and crucially have done adequate research. What is the competition like? Who will your clientele be? How seasonal will business be? How will you manage staffing and suppliers? If working with your partner, how will this affect your relationship
How many hours are you realistically prepared to work each day? Will you be happy working weekends? Once you start truthfully answering questions like these, you’ll form an idea of whether life as a pub landlord or restaurateur in Portugal is right for you.
Another option is to create a business online. You could find a product or service to sell, or look for project-based work opportunities that allow you to work on projects based at home – as a writer, editor, programmer, graphic designer, project management, accountant, telesales - the list goes on and on. As long as you have a good Internet connection and a skill that will allow you to work from home, you can earn a living. The great thing about Internet project work is you can pick what you want to do and how much you’re happy to handle. By surfing the Internet for project-based work, you can find sites to outline your expertise along with a short CV, and while waiting for someone to call upon your services, you can apply to work on projects that suit your fancy.
If you decide to search for a role in Portugal’s job market, it is always important to keep in mind that it might be difficult to compete with the local population. It’s imperative that you research the demand for employees in your area of interest. When Portugal’s unemployment rate is high, there will be plenty of local people already out there looking for work making a fairly saturated job market.
Whatever you decide to do for employment in Portugal, make sure you have sorted out your income streams and tax affairs before leaving the UK. The safest way to do this is to contact a recommended financial advisory firm. If you need advice sorting out your income streams and tax affairs before leaving the UK to work in Portugal, we can put you in touch with an authorised financial advisory firm - to request this, click here or call our Resource Centre on 0207 898 0549.