Our Locations


Enjoy a relaxed pace of life in sunnier climates, with favourable pension and lifestyle opportunities.


overseas asset management


with pensions, savings & investments


your money works for you

Average yearly wage

1,144.61 EUR

Average retirement age

66 years 5 months

Average weekly working hours

39.5 hours


Euro (EUR)

We are one of the most comprehensive and experienced wealth management companies around and our range of holistic financial planning services covers all your needs wherever you are in the world.

Living in the Algarve

Portugal (and specifically the Algarve) has so much to offer expats; boasting sunshine, excellent hospital care, renowned international schools and wonderful food. It also has a relatively low cost of living, as well as excellent air transport links with all the major UK and European destinations.

One of the most attractive things about moving to the Algarve and Portugal for UK and US expats is the favourable pension taxation rates: non-habitual residents incur no tax on their pensions for their first ten years of residence, while after that they are taxed only at Portugal’s marginal rates – a scheme that is also open to those who are in employment.

However, the country’s bureaucracy can sometimes be frustrating and may even seem to present obstacles to your objectives. As such, now may be a good time to ensure that your money works for you in the best possible way, by making financial plans for your future in the Algarve.

Cost of living in the Algarve

  • Pint of beer: 2.10 EUR (£1.90)
  • Cappuccino: 1.56 EUR (£1.41)
  • Meal in a restaurant: 11 EUR (£9.95)
  • Monthly public transport pass: 50 EUR (£45.24)
  • Population: 423,974

Benefits of living in the Algarve

With tourism, retail and construction the biggest industries in this area of Portugal, there are many opportunities for expats who wish to move here. And for those that do relocate to the Algarve, there are many benefits they get to enjoy.

The pleasant climate

The summers are warm and the winters mild, meaning you can make the most of everything the Algarve has to offer at all times of the year. July and August see 12 hours of sunshine a day, and even in the coldest months, temperatures rarely dip under 10 degrees Celsius.

Excellent quality of life

Internations’ 2019 Expat Insider 2019 survey found that Portugal was voted the third best country to live in as an expat, with 96% of expats agreeing that it’s an extremely peaceful place to live. It was also rated number one in the world for excellent quality of life, and second place for leisure options.

Ample golfing opportunities

The Algarve is famed for its abundance of golf courses – there are 31 in total. With many boasting beautiful coastal views, it’s a great way to while away the weekends, enjoying the warm Portuguese sun. In terms of prices, the more expensive courses are located in the prestigious area of Quinta de Lago, whereas the cheaper courses are found in the east and west of the Algarve.

Best areas to move to in the Algarve

If you love wide, expansive beaches, and ample walking and golfing opportunities, then the Algarve is the perfect place to relocate to; with several charming towns to choose from.


  • Pint of beer: 2.25 EUR (£2.70)
  • Cappuccino: 1.90 EUR (£3.05)
  • Meal in a restaurant: 9.50 EUR (£15.30)
  • Monthly public transport pass: 32 EUR (£25.65)
  • Population: 58,664

The capital of the Algarve, expats that want a city feel move to Faro. Its Old Town is housed within ancient city walls, and is full of quaint cobblestoned streets, medieval architecture, and traditional restaurants serving mouth-watering local cuisine. It’s also a great base to explore the rest of the Algarve and Portugal, with well-connected bus and boat links, in addition to an airport situated 7km outside of the city.


  • Pint of beer: 2.25 EUR (£2.70)
  • Cappuccino: 1.90 EUR (£3.05)
  • Meal in a restaurant: 9.50 EUR (£15.30)
  • Monthly public transport pass: 32 EUR (£25.65)
  • Population: 10,000

An exclusive resort located between Faro and Lagos, Vilamoura is a popular destination amongst tourists, but still has a growing expat community. Housing here tends to be in the form of spacious apartments, townhouses and villas.

Sophisticated and lively – especially during the summer months – the town is built around its marina, with a range of bars, cafes and restaurants, serving delicious seafood. With several prestigious golf courses and designer shops, and two beautiful beaches (Praia de Vilamoura, and Praia de Falesia), there will be no end of things to do on your weekends and days off.


  • Pint of beer: 2.25 EUR (£2.70)
  • Cappuccino: 1.90 EUR (£3.05)
  • Meal in a restaurant: 9.50 EUR (£15.30)
  • Monthly public transport pass: 32 EUR (£25.65)
  • Population: 22,000

Mixing elements from Faro and Vilamoura, Lagos has both a quaint Old Town and modern marina, in addition to the beautiful sandy beach of Meia Praia (with many more just a short drive away). Whilst it’s busy in summer due to the number of tourists, Lagos attracts a slightly different, less lively crowd compared to Albufeira. There are ample walking and surfing opportunities here; and with good bus and train connections (there’s a station located in the city centre), it’s a perfect base to discover the rest of Portugal.

Managing your finances in the Algarve

Here at Blacktower, we work to ensure that our clients living in the Algarve receive the financial products and services that best advance their financial objectives and circumstances.

With an office in the heart of Portugal’s Algarve, our representatives can ensure that all of your inheritance tax planningpension planning, pension transfer schemes, and savings and investments are in safe hands.

Whether you wish to discuss your general wealth management needs, or require SIPPs or QROPS advice, talk to the independent financial advisers in our Algarve office to gain the clarity and confidence you need for your financial future.

To get in touch, simply fill out the contact form above, or call us directly on +351 289 355 685. Alternatively, find out more information on Portuguese residents with UK pensions, or the benefits of life assurance in Portugal.

Contact the Portugal-Algarve Office

Edificio Mapro, Estrada da Quinta do Lago, 8135-106 Almancil, Algarve

Tel: +351 289 355 685

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