“Golden” pensions are taking more and more Italians to the Algarve.
After the British, Nordic and French, now it is the turn of Italians who are looking for the Algarve to live part of the year, especially in Olhão, attracted by the tax benefits, cultural proximity and security.
“See this square? It’s no longer the Restauração square, now it’s the Italians’ square”, jokes Marina Nagy, an Italian who moved to the Algarve 14 months ago, referring to the number of fellow countrymen who circulate there daily, coming in and out of a specialized agency. in the Italian market that opened two years ago, in Olhão.
This is one of the most sought-after locations for Italians in the Algarve – alongside Tavira, Vilamoura, Vila Real de Santo António, Lagos and Faro – especially retirees who want to move to the region and start receiving the gross value of their pensions, avoiding the heavy taxes in Italy, for ten years, having to meet certain requirements to do so.
The possibility of living a “golden” retirement was one of the factors that attracted the Italian Catello Deiudecibus, 69 years old, residing in Olhão since March to the Algarve and who admitted receiving, in Portugal, double the amount he would receive in Italy for his retirement. as a manager at a telecommunications company.
“Portugal has the advantage of being part of the European Union, there are no problems related to immigration, it is a peaceful country full of very polite and respectful people”, he said, in almost perfect Portuguese, the result of the years he worked in Brazil.
Aware of the “discovery” of Portugal by Italians, Rosario Fazio, born in Sicily, opened an agency two years ago in the center of Olhão that provides assistance and information to citizens who want to move to the country.
According to the businessman, some of his clients are choosing Portugal to “escape” from countries like Tunisia and Bulgaria, where many Italian citizens have moved in recent years.
Born in Piacenza, Marina Nagy is one of the clients who, before living in the Algarve, spent a year in Tunisia with her husband, but ended up giving up the experience due to the political crisis and terrorist attacks.
“Portugal is a surprise for me, because no one knows Portugal in Italy!”, said the translator, estimating that, currently, approximately 200 Italian families live in the municipality of Olhão.
According to Rosario Fazio, the majority are more interested in renting a house, but, in the last year, at least twenty of his clients bought a house in the Algarve, preferably apartments, already equipped, on a “turnkey” basis.
The trend, which has intensified over the last year, is demonstrated by the opening of several agencies in the Algarve that provide information and assistance to Italian citizens.
“Before this phenomenon, which started about a year ago, there were between 400 and 600 Italians living in the Algarve. Now there should be thousands”, estimated Michela Meola, who receives requests for information daily, not only from retirees, but also from small entrepreneurs.
Manager of a company that provides assistance to Italians who wish to move to Portugal, the businesswoman, originally from Venice, and who has lived in the Algarve for five years, explained that some people are choosing Lisbon, not only because of the city's size, but also because of the fact that there are no direct flights to Italy from Faro.
Aware of this phenomenon, the mayor of Olhão, António Pina, said that the municipality will create a Tourism Office, which should be a reality in 2017.
“With the growth of tourism in Olhão, the Chamber felt the need to provide visitors, passing through or future owners, with a support office, as well as starting a strategy to publicize the city and investing in partnerships with businesspeople in the municipality”, he concluded. .
With information from Lusa Agency
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