Moving abroad checklist: 6 Essential considerations for a smooth transition

Costa Rica has become one of the world's most sought-after destinations for expats, attracting retirees, remote workers, entrepreneurs, and families looking for a better quality of life. From its lush rainforests and Pacific beaches to its relaxed lifestyle and strong focus on wellbeing, the country offers far more than scenic beauty. It also combines affordability with modern infrastructure, making it an appealing place to live, work, or retire abroad.

One of the biggest reasons people choose Costa Rica is its relatively low cost of living, established residency programmes, and stable banking system. Depending on your lifestyle and location, a single expat can live comfortably on $1,500 to $2,500 per month. This way, you can  enjoy a high standard of living without the costs associated with many other popular expat destinations.

Before making the move, it's important to understand your visa options, expected living expenses, and how to manage your finances. The country's two main residency routes are the Pensionado (retiree) Visa and the Rentista (income-based) Visa, each designed for different applicants. This guide covers everything you need to know to plan your move to Costa Rica with confidence.

Also read: Costa Rica digital nomad visa: Eligibility, costs and process

Why is Costa Rica a top destination for expats?

Costa Rica continues to attract expats from around the world thanks to its warm tropical climate, political stability, and consistently high quality of life. Unlike many countries in the region, it has enjoyed decades of democratic governance without a standing military, contributing to its reputation as one of Latin America's safest and most stable places to live. Expats also benefit from an excellent healthcare system, with access to both public and private medical services at costs that are often significantly lower than those in North America and Europe. When you combin this with a slower pace of life and stunning natural scenery, Costa Rica offers an appealing balance of comfort and affordability.

Another major draw is its well-established expat communities, which make settling in much easier. Popular areas such as Tamarindo, Atenas, and Escazú offer a mix of modern amenities, international schools, English-speaking services, and active social networks. Whether you're retiring, working remotely, or starting a new chapter abroad, these communities provide the support and familiarity many newcomers value while still allowing them to experience Costa Rica's unique culture and lifestyle.

Also read: Managing money across two countries as an expat

What does it cost to live in Costa Rica?

Costa Rica offers a lower cost of living than many countries in North America and Western Europe, although your monthly expenses will vary depending on where you choose to live and your lifestyle. A single expat can typically live comfortably on $1,500 to $2,500 per month, while couples often spend between $2,000 and $3,500. The biggest expenses are usually rent, followed by food, healthcare, transport, and utilities. Living outside the main tourist hotspots can significantly reduce your monthly costs without compromising your quality of life.

Major cities such as San José generally have higher rental prices, while coastal destinations command premium rates due to their popularity with tourists and retirees. The Central Valley, including towns like Atenas, is known for offering one of the best balances between affordability, climate, and access to amenities. Meanwhile, Liberia in the Guanacaste Province has become an increasingly popular option for expats seeking a lower cost of living with easy access to beaches and an international airport.

Overall, the Central Valley remains one of the best-value regions for expats, combining affordable housing with reliable infrastructure and healthcare. San José suits those who prioritise career opportunities and city conveniences, while Tamarindo and other coastal towns appeal to beach lovers despite their higher living costs. Liberia offers a practical middle ground, with growing amenities and lower costs than many beachfront communities.

How to move to Costa Rica as an expat

Relocating to Costa Rica is much easier when you have a clear plan. While the process varies depending on your nationality and chosen residency route, most expats can complete their move within three to 12 months, depending on visa processing times and document preparation. Following these steps will help you settle into your new life with fewer surprises.

1. Research your visa options: Determine whether the Pensionado, Rentista, or another residency programme best matches your circumstances.
2. Set your budget and choose where to live: Compare locations such as San José, Escazú, the Central Valley, or coastal towns based on your lifestyle and monthly budget.
3. Secure accommodation: Rent a property before committing to a home purchase, giving yourself time to explore different communities.
4. Open a local bank account: This makes it easier to pay bills, receive income, and manage everyday expenses once you're settled.
5. Apply for residency and register locally: Gather your required documents, submit your residency application, enrol in Costa Rica's public healthcare system if applicable, and complete any remaining registration requirements before beginning your new life.

Which Costa Rica residency visa should you apply for?

Costa Rica offers several residency pathways for expats, each tailored to a different lifestyle and financial situation. Whether you're retiring, living on passive income, investing in the country, or working remotely, understanding the requirements, income thresholds, and application process will help you choose the visa that's right for you.

Pensionado Visa (Retiree)

Requirements

• Receive a guaranteed lifetime pension or government retirement benefit.
• Provide an apostilled pension verification letter.
• Submit a police clearance certificate and civil documents (such as birth or marriage certificates where applicable).
• Complete a medical examination.

Income threshold

• Minimum guaranteed pension income**:** USD $1,000 per month**.**

Application process

• Gather all supporting documents.
• Submit your application through the Costa Rica General Directorate of Migration, either independently or through an immigration lawyer.
• Attend any required appointments and await approval.

Rentista Visa (Passive Income)

Requirements

• Have a stable source of passive income from outside Costa Rica.
• Provide financial records proving the source of income.
• Submit apostilled civil documents and a police clearance certificate.
• Complete local health and background checks.

Income threshold

• USD $2,500 per month in guaranteed passive income, or
• A USD $60,000 deposit in a Costa Rican state-owned bank.

Application process

• Compile proof of passive income or bank deposit.
• Submit the required documentation to the immigration authorities.
• Complete the necessary health and security checks before residency is granted.

Inversionista Visa (Investor)

Requirements

• Make a qualifying investment in Costa Rica.
• Provide proof of investment and the source of funds.
• Submit a valid passport and police clearance certificate.
• Provide supporting business or property documentation where applicable.

Income threshold

• Minimum investment: USD $150,000 in eligible investments such as real estate, businesses, forestry projects, or approved ventures.

Application process

• Complete the qualifying investment.
• Gather the required financial and legal documentation.
• Submit your residency application through the General Directorate of Migration or an immigration lawyer.

Digital Nomad Visa

Requirements

• Work remotely for an employer or clients based outside Costa Rica.
• Hold comprehensive international health insurance.
• Provide proof of employment, freelance contracts, or business ownership.
• Have a valid passport.

Income threshold

• USD $3,000 per month for an individual.
• USD $4,000 per month when applying with dependants.

Application process

• Complete the online application through Costa Rica's Digital Nomad platform.
• Upload all supporting documents.
• Pay the required government application fee.
• Await approval before relocating to Costa Rica.

How banking works in Costa Rica for expats

Setting up a local bank account is one of the first financial steps many expats take after moving to Costa Rica. Banks such as Banco de Costa Rica (BCR) and BAC Credomatic accept foreign customers, although eligibility and onboarding requirements may differ depending on your residency status.

Key requirements to open a local bank account:

• Valid passport or Costa Rican residency ID
• Proof of address
• Proof of income or source of funds
• Tax identification number (where applicable)
• Initial deposit (required by some banks)

Common limitations of local banking:

• Lengthy account opening and verification processes
• Strict documentation requirements
• Fees for international transfers
• Less favourable foreign exchange rates
• Delays when receiving overseas payments

For example, if you're a UK marketing consultant living in Costa Rica but invoicing clients in pounds sterling, receiving payments directly into a local bank account can be slow and expensive.

Grey bridges this cross-border banking gap by providing foreign currency accounts in USD, GBP and EUR. You can receive international payments like a local, hold multiple currencies, convert when exchange rates suit you, and transfer funds to your Costa Rican bank account whenever you need them, making it easier to manage both your everyday expenses and your global income.

Choosing the right healthcare in Costa Rica as an expat

Costa Rica is widely recognised for its high-quality healthcare system, making it one of the most attractive destinations for expats seeking affordable and reliable medical care. Whether you rely on the public system, choose private healthcare, or invest in international insurance, understanding your options will help you make the right decision before relocating.

Public healthcare (Caja – CCSS)

• Mandatory for legal residents
• Monthly contributions are based on your declared income, typically 13–18%
• Covers around 85% of the population through 29 hospitals and hundreds of EBAIS community clinics
• Free healthcare for children under 18 and pregnant women
• Excellent for routine care, chronic conditions, major surgeries and long-term treatment
• Limitation: Non-emergency specialist appointments and elective procedures can involve lengthy waiting times.

Private healthcare

• Faster access to doctors, specialists and diagnostic tests
• GP consultations typically cost US$50–100, while specialist appointments cost more
• Modern hospitals with English-speaking staff, including Hospital CIMA (Escazú), Clínica Bíblica (San José) and Hospital La Católica (San José)
• Hospitals may require an upfront deposit before admission.

Many expats use a hybrid approach, enrolling in Caja to meet residency requirements while maintaining private or international health insurance for quicker access to treatment. International providers such as Cigna Global, GeoBlue and Bupa Global are popular choices for those who travel frequently or want comprehensive medical cover both in Costa Rica and abroad.

Frequently asked questions

Is Costa Rica a safe place for expats?

Yes. Costa Rica is widely regarded as one of the safest countries in Latin America, thanks to its political stability and high quality of life. However, petty crimes such as pickpocketing and vehicle break-ins can occur in tourist areas. Taking sensible precautions and choosing a safe neighbourhood will help you enjoy a secure and comfortable lifestyle.

How much money do I need to retire comfortably in Costa Rica?

Your budget depends on where you live and your lifestyle. Many retirees live comfortably on US$2,000–3,500 per month, covering housing, groceries, healthcare and leisure. Coastal towns and luxury communities generally cost more than smaller inland cities, so it's worth researching living costs before making the move.

Can foreigners buy and own property in Costa Rica?

Yes. Foreigners enjoy the same property ownership rights as Costa Rican citizens, making it relatively straightforward to purchase a home or investment property. The main exception is certain Maritime Zone properties near the coastline, which are subject to concession rules. Always work with a qualified lawyer before completing a purchase.

Do I need to speak Spanish to live in Costa Rica?

No, but learning Spanish will make everyday life much easier. English is commonly spoken in tourist destinations, international businesses and many expat communities. However, you'll find Spanish useful when dealing with government offices, local markets, healthcare providers and building stronger relationships within your local community.

How can I receive my pension or overseas income in Costa Rica?

Many expats receive pensions or overseas payments through international bank transfers, but these can involve high fees and unfavourable exchange rates. Using Grey, you can receive payments through foreign currency accounts in USD, GBP or EUR, then transfer funds to your Costa Rican bank account when you're ready, helping you manage international income more efficiently.

Can I use a Grey account while living in Costa Rica?

Yes. Grey helps expats, freelancers and remote workers receive international payments through foreign currency accounts without needing a local account in every country. You can hold multiple currencies, receive payments like a local, convert at competitive rates and send funds to your Costa Rican bank account whenever you need them.

Managing your money across borders shouldn't be complicated. Whether you're receiving international payments, supporting family abroad or working with clients overseas, Grey makes global finances simpler. Open a Grey account or download the app today to receive international payments, hold multiple currencies and manage your money with confidence.

iving abroad as an international student can be a life-changing experience, exposing you to new cultures, a great learning environment, and networks. However, managing financing in a new country can be complex and negatively impact your experience,  especially when you’re dealing with unfamiliar currencies, exchange rates, and living costs. With the appropriate information and lifestyle adjustments, you can manage your finances better. Here are some simple money tips to help students living abroad make the best of the opportunity.

1. Set a realistic monthly budget

A realistic budget might be all you need to maximise your experience as an international student. Before anything else, figure out how much you can afford to spend each month and be disciplined enough to stay within that expectation. List your fixed expenses, such as rent, transport, groceries, and tuition. Then set aside an amount for leisure and for emergency savings. Use budgeting apps like YNAB or a spreadsheet to track your spending and see where your money goes. A clear budget helps you avoid running out of funds before your next income.

2. Open a local or multi-currency account

Traditional bank accounts often charge high fees for international transactions and withdrawals. Instead, open a local bank account in your host country or a multi-currency account that lets you hold, send, and spend in different currencies. Platforms like Grey are ideal because you can receive and hold multiple currencies (GBP, USD, EUR), easily convert and withdraw funds at mid-market exchange rates. This makes your spending cheaper and simpler.

3. Avoid using credit cards for daily spending

Credit cards are great for emergencies or building a credit score, but not for everyday use abroad. Otherwise, you’ll have to deal with foreign transaction fees (usually 2–3%), poor exchange rates and high-interest rates. Use a debit card or digital wallet instead, and keep your credit card strictly for urgent situations.

4. Understand the local payment culture

The truth is that various countries offer preferable payment options. Carrying cash is a more prudent choice than card payments in some countries. Note whatever is obtainable in your environment by learning how locals pay for things,  whether it’s contactless, QR codes, or cash. Set up the option that’s most convenient for you to avoid awkward moments at checkouts or in restaurants.

5. Avoid airport and hotel currency exchanges

Airport and hotel exchange counters are convenient but notoriously expensive. They offer poor exchange rates and high conversion fees. Also, the chances of getting scammed are high in some countries if they think you are a newbie. If you need cash on arrival, withdraw a small amount at an ATM or use a platform like Grey to convert currency before travelling. This ensures you get fair rates and avoid unnecessary costs.

6. Cook more, eat out less

Food is one of the most significant expenses for international students. Eating out regularly might be convenient, but it will tank your finances if you are not mindful. Save money by cooking at home on most days and storing food for days you might feel up to cooking. Shopping at local markets or discount grocery stores saves money on your purchases. It is also healthier to cook at home most of the time than to opt for processed fast foods. Make eating out more of a guilty pleasure than an everyday thing.

7. Take advantage of student discounts

Many countries offer student discounts on public transport, museums, cinemas, and even restaurants. Always carry your student ID or use platforms like UNiDAYS and ISIC to access verified offers. These small discounts can help your budget further in the long run.

8. Save a little each month

Even on a tight student budget, aim to save something. It builds good financial habits and helps during emergencies and for making big purchases. You can automate your transfers to a savings account or use a budgeting app with a round-up feature that saves spare change from each purchase.

9. Earn extra income wisely

If your visa allows (e.g., up to 20 hours/week), part-time work can supplement your budget. Here are some great work options for international students:

• Campus jobs: Look for roles like library assistant or tutor, which fit around studies and often pay above minimum wage.
• Freelance or gigs: Platforms like Upwork or local apps for tutoring English can provide flexible income without long-term commitments.
• Internships: Paid opportunities, such as work placements and internships aligned with your course, can bring in some money. Many institutions offer career services to help navigate this.

Always check visa rules to avoid penalties.

Managing your finances with Grey

Living abroad as a student is an educational adventure, but managing your money wisely helps you make the most of it. If you’re studying overseas, consider opening a Grey account to manage multiple currencies, receive money from home, and pay locally at competitive exchange rates. Grey’s virtual USD debit card also makes it easy to pay globally.

Get started on Grey today and spend smartly wherever your studies take you.

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Moving to a new city already feels like a reset, but moving to a new country is a full chapter change. The air feels different, everything around you follows a rhythm you haven’t learned yet, even the smallest routines like your morning walk, the way people greet each other, the sound of the language around you start to rewrite themselves. And just as everything settles into this new cadence, your money becomes another piece that needs to adjust, finding its place in a system that isn’t quite familiar yet.

With a little preparation and a few smart habits, you can land in your new country feeling organised, confident and fully in control. Here’s the simple money checklist that keeps everything running smoothly while you focus on building your new life abroad.

1. Sort out your banking before you take off

Banks love paperwork, and doing it from another country is basically a sport. Try to set up as much as possible before you move — things like:

• Notifying your current bank about your move
• Checking international card fees
• Ensuring your card won’t suddenly block foreign payments
• Setting limits on international transactions

Bonus tip: have at least two ways to pay when you land, like a card, a backup card and a balance in your digital account.

2. Know the real exchange rate (not the airport one)

Airport rates should come with warning signs. The price difference hurts. Before you move:

• Compare conversion rates
• Use apps to track the currency of your new country
• Avoid exchanging large amounts in cash on arrival

Every tiny percentage adds up when you’re relocating.

3. Get a global account for receiving and sending money

You’ll quickly realise how often you need to move money across borders: rent deposits, school fees, subscriptions, money to family, or even paying for your first Airbnb. A global account makes this easier by letting you:

• Receive foreign currency
• Hold multiple currencies
• Spend internationally without heavy fees

It also saves you from the “my bank rejected your international transfer” conversation.

4. Calculate your first-month costs (they’re always higher than you think)

Moving expenses come in waves. You’ll need money for:

• Deposits
• Transport passes
• SIM card
• Groceries
• Temporary accommodation
• Registration fees
• Set-up costs like kitchen basics

Create a rough first-month budget. Add 20% on top, it’s realistic.

5. Set up phone, internet and transportation apps early

These don’t sound “financial,” but trust me, they save you money.

When your Wi-Fi isn’t set up yet, you’re more likely to overspend on roaming; when you can’t access ride-hailing apps, you pay expensive tourist rates. Prepare ahead by:

• Downloading local apps
• Checking available mobile plans
• Learning how public transport tickets work

Your wallet will thank you.

6. Keep some emergency money ready

Your first month abroad is unpredictable. Unexpected fees, delayed salaries, card declines and wrong purchases happen. Have a small emergency buffer so these surprises don’t derail your plans.

7. Track your spending from day one

New country, new prices. It’s easy to overspend before you realise what “normal” looks like. Keep track of expenses during your first few weeks. It helps you get familiar with local costs and avoid accidental budget explosions.

8. Learn how locals pay

In some countries, cash is still king. In others, cards are preferred. Some places love mobile wallets; others don’t use them at all. Understanding local habits saves you from awkward moments like:

“Sorry… do you take card?”

“Only coins.”

A quick browse on local forums or expat groups helps.

9. Make sure your payments work across borders

From subscriptions to remittances, relocating means your money will still travel back and forth. Having a card that works globally (and doesn’t suddenly decline payments) keeps your expenses predictable.

10. Build your money routine

Once you’ve settled in, create a simple routine:

• Weekly budget review
• Monthly savings target
• Currency conversion check
• Backup payment method update

It keeps you grounded while everything else around you is new.

Start strong in your new country

Relocating overseas can feel overwhelming, but your money doesn’t need to be part of the chaos. With a little structure, the right tools and a few smart habits, you can land feeling prepared instead of stressed, focusing on enjoying the adventure of starting fresh somewhere new.

That’s where Grey steps in. With multi-currency accounts, easy conversions and reliable global payments, Grey gives you the flexibility to handle money confidently as you settle into your new life abroad. It’s one less thing to worry about while everything else around you feels new.

Open your Grey account today or download the app and stay in control of your money from day one.

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The Philippines draws expats and nomads with its great work-life balance, low living costs, and growing digital infrastructure. You can start your day hiking Mount Tapyas, join a work call by mid-morning, and relax at White Beach in the evening. However, understanding the country’s tax, visa, and gig-work rules is important for a smooth experience. This guide explains what you can and cannot do, and how to stay compliant while working online.

Understanding the Philippines' taxation for expats and nomads

Taxes for foreigners in the Philippines can be confusing because it is a case of different strokes for different folks. However, the tax structure is generally favourable for expats and digital nomads, as they are only taxed on income earned within the Philippines. Income from remote work for companies outside the Philippines is usually not taxed in the Philippines.

Your tax requirements as an expat or nomad depend on your tax residency. If you stay in the Philippines for 180 days or less, you pay a flat 25% tax on income earned in the country. If you stay longer than 180 days, your Philippine-sourced income is taxed at progressive rates, up to 35% for income over PHP 8 million.

The Philippines has double taxation agreements with up to 44 countries, which help prevent you from being taxed twice on the same income. If your home country taxes worldwide income, such as the US, you may be able to use these agreements or foreign tax credits to avoid double taxation.

If you are a US citizen, the US government taxes your worldwide income no matter where you live. You might qualify for the Foreign Earned Income Exclusion (FEIE), which lets you exclude part of your Philippine earnings from US taxes and avoid being taxed twice.

Local and international tax regulations are not only complex but also subject to change. It is okay to get advice from a tax professional to ensure full compliance. You can always consult the Bureau of Internal Revenue (BIR) website for more information.

Also read: How to convert US dollars to Philippine pesos

Visa options for expats and digital nomads

The Philippines recently launched its Digital Nomad Visa, which is the most suitable option for remote workers. Here are the various visa options to choose from:

Digital Nomad Visa (DNV)

This is valid for one year, but renewable for another year. The application fee is around USD 200–400, depending on where you apply (embassy/consulate fees vary).

To be eligible, you must

• Be at least 18 years old
• Have a clean criminal record
• Have a valid health insurance
• Show proof of non-Philippine remote work
• Provide proof of sufficient foreign-sourced income (around $24,000 USD annually).

The visa also has a reciprocity requirement, meaning you must be from a country that offers a similar DNV to Filipinos. Also, you cannot engage in any form of local employment or work for Philippine-based clients with this visa.

Read more about how to apply for a digital nomad visa in the Philippines

Tourist visas (short-term stay)

Many nationalities receive a 30-day visa on arrival. This can be extended for up to 36 months without leaving the country. Remote work is not formally permitted, but the majority of digital nomads simply operate under this category without issue.

Also read: How to manage multiple currencies as an expatriate in the Philippines using Grey

Long-Stay Visitor Visa Extension (LSVVE)

After the initial tourist visa, you can apply for longer extensions. This can last six months or more at a time. This is still not a work visa, but again, it is widely used by remote workers who earn only from overseas.

Special Resident Retiree Visa (SRRV)

The SRRV is not just for retirees. If you are over 35, you can consider this option. However, it requires a higher deposit. With the SRRV, you have permanent residency, multiple entry, and freedom to work online without restrictions. It is one of the most flexible long-term visas in Southeast Asia. The program has different categories, such as SRRV Classic and SRRV Courtesy, each with its own requirements and fees. Depending on the SRRV category, applicants need to either make a deposit at a local bank or have a pension, or a combination of both.

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Managing your income with ease

The Philippines remains one of the best places for digital nomads and expats due to its flexible visa options and tax-friendliness. Digital nomads and expats need to understand how visas and tax regulations affect gig work when visiting the Philippines. While there is a lot to explore, you should also have a payment solution you can carry along on your globetrotting. A multicurrency account in Grey ensures you can manage USD, EUR, and GBP payments with seamless conversion to pesos at competitive rates. This means you can easily receive payments from your international clients and spend locally without losing your earnings to high charges and exchange rate markups.

Sign up on Grey or download the mobile app today for reliable international payments.

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Maybe you're moving to the UK soon, or you're a freelancer getting paid in pounds, a student preparing for university, a remote worker with UK clients. Whatever the reason, many traditional banks ask for proof that you live in the UK before they'll let you open an account. If you're not there yet, it can feel like you're stuck in a loop: you need a UK address to open a bank account, but you need a bank account to settle into life in the UK.

It’s possible for a non-resident to open a UK bank account, though most high-street banks ask for a UK address and proof of residency. The routes that work are digital and multi-currency accounts that verify you with a passport and proof of address from your home country, rather than a UK utility bill.

In this guide, I'll explain how to open a UK bank account as a non-resident, the documents you'll need, whether you can apply without proof of a UK address, and the options available if high street banks aren't the right fit.

Can a non-resident open a UK bank account?

Yes, a non-resident can open a UK bank account, but the type of account you can access depends on the provider you choose.

Traditional high street banks often require proof that you live in the UK, such as a recent utility bill, council tax statement, or tenancy agreement. If you're still living abroad, meeting these requirements can be difficult.

That's why many people assume the answer is no. In reality, it's the eligibility requirements, not your nationality, that create the biggest hurdle.

So, how can a foreigner open a bank account in the UK? Banks and financial providers in the UK can offer accounts to foreign nationals, international students, remote workers, freelancers, and people relocating to the country. Each provider simply has its own requirements for verifying your identity and address.

For many non-residents, digital and multi-currency accounts offer a more accessible route. Instead of asking for proof that you already live in the UK, they may accept a passport along with proof of address from your home country. This allows you to open a GBP account before you move, receive payments in pounds, and manage your money online.

The table below shows how the requirements typically differ between traditional banks and digital providers.

It's also worth remembering that not all accounts work the same way. Some providers offer a full UK current account, while others provide GBP account details that let you receive, hold, send, and convert pounds without needing to become a UK resident first. The right option depends on what you need the account for, whether that's getting paid by a UK employer, receiving freelance income, paying bills, or preparing for a move.

In the next section, we'll look at one of the biggest reasons applications are declined: proof of address, why banks ask for it, and the alternatives available if you don't have a UK address yet.

Why UK banks ask for proof of address

One of the biggest challenges non-residents face when opening a UK bank account is meeting the proof of address requirement.

Most traditional UK banks ask for proof of address as part of Know Your Customer (KYC) and anti-money laundering (AML) checks. These regulations require banks to verify customers' identities before opening an account.

While your passport confirms your identity, banks usually need another document to verify where you currently live. That's why they'll often ask for documents such as:

• A recent utility bill
• A council tax bill
• A tenancy agreement
• A mortgage statement
• A bank or card statement
• An official government letter

The exact documents accepted vary by provider, but most traditional banks expect them to show a UK residential address.

Do you need a UK address for a UK bank account?

For many high street banks, the answer is yes.

If you're planning to move to the UK, this requirement can quickly become frustrating. You may need a UK bank account to receive your salary, rent a property, or set up household bills, yet you can't always open one until you already have a UK address.

Fortunately, some financial providers take a different approach. Instead of requiring proof that you already live in the UK, they may accept proof of address from your home country as part of their verification process. This allows eligible non-residents to apply for a GBP account before relocating.

What if you don't have proof of address yet?

Not having a UK address doesn't automatically rule out your options.

Some digital and multi-currency providers verify customers using a passport or national ID, proof of address from their home country, and a selfie or short video. They may also ask how you plan to use the account.

Every provider has its own eligibility criteria, so it's worth checking the document requirements before you apply. Choosing an account designed for non-residents can save time and reduce the chances of your application being rejected.

How to open a UK account without proof of a UK address

Opening a UK account without proof of a UK address is possible, but it starts with choosing the right provider. While many traditional banks require you to already live in the UK, some digital and multi-currency accounts let eligible non-residents verify their identity using documents from their home country instead.

Here's how the process typically works.

1. Choose an account that accepts non-residents

Before starting an application, check the provider's eligibility requirements. Some accounts are only available to UK residents, while others are designed for people living abroad, relocating, or working internationally.

Look for providers that clearly state they accept applications from non-residents or allow proof of address from another country.

2. Prepare your documents

Most providers will ask you to verify your identity before your account can be approved.

Some providers may also ask for information about your occupation or the purpose of opening the account.

3. Complete your online application

Many digital providers allow you to complete the entire application online in just a few minutes. You'll usually be asked to upload your documents, confirm your personal details, and complete any required identity checks.

Make sure the information you provide matches your documents exactly. Even small differences in your name or address can delay verification.

4. Wait for your account to be verified

Verification times vary between providers. Some accounts are approved within minutes, while others may take a few business days if additional checks are required.

If the provider needs more information, they'll usually contact you by email or through the app.

5. Start using your GBP account

Once your account is approved, you'll be able to receive, hold, and manage pounds according to your provider's features. Depending on the account, you may also be able to convert currencies, send international transfers, or access a virtual debit card.

Opening an account before moving to the UK can make settling in much easier. Instead of waiting until you've secured a permanent address, you can already have your GBP account ready to receive payments or manage your money as soon as you need it.

What documents do you need?

The documents you'll need depend on the type of account you're opening. Traditional UK banks generally ask for more paperwork than digital or multi-currency providers, especially if you don't already live in the UK.

In most cases, you'll need to prove two things: your identity and your current residential address. For non-residents, that usually means providing documents issued in your home country rather than a UK utility bill.

A valid passport is the most widely accepted form of identification, although some providers also accept national identity cards. Whatever document you use, the personal details should match the information in your application.

For proof of address, providers typically accept documents such as a recent utility bill, bank statement, tax document, or official government letter from your country of residence. These documents usually need to have been issued within the last three months.

If you're opening your account online, you'll probably also be asked to complete a digital identity check. This normally involves uploading photos of your identification document and taking a selfie or recording a short video so the provider can verify your identity.

Some providers may request additional information depending on your situation. For example, if you're moving to the UK, they could ask for a visa or residence permit. Others may want to know how you plan to use the account or request your tax identification number as part of their compliance checks.

Having these documents ready before you apply can help speed up the verification process. If you don't have a UK address yet, it's worth choosing a provider that accepts applications from non-residents and allows you to verify your address using documents from your home country.

Also read: How to open a UK bank account as a temporary visitor

Which UK accounts let non-residents open online?

If you're opening an account from outside the UK, your options are more limited than they are for UK residents. Many traditional banks still expect applicants to visit a branch or provide proof of a UK address before they'll approve an application.

Fortunately, that's no longer the only route.

Today, there are three main types of accounts that non-residents can consider, each with different requirements and features.

Traditional banks are often the best choice if you've already moved to the UK and can provide proof of a local address. If you're still abroad, digital and multi-currency providers are usually easier to access because they let you apply online and verify your identity remotely.

Multi-currency accounts are often the most practical option if you need UK banking details while living abroad. They let you open an account online, receive payments in pounds, and manage your money without first establishing residency in the UK.

If you're comparing these options, it's also worth understanding how Grey differs from a UK bank before deciding which type of account best suits your needs.

For many freelancers, remote workers, online sellers, and businesses that receive international payments, a multi-currency account offers the flexibility to start receiving GBP before relocating, rather than waiting until they've settled in the UK.

The next step is understanding how that works in practice.

How to open a UK-capable account online with Grey

If you need UK bank details but don't live in the UK, Grey gives you another way to receive, hold, and manage GBP without opening a traditional UK bank account.

You can open a multi-currency account in GBP, complete your identity verification online, and receive UK bank details without needing a UK proof of address. Once your account is verified, you can receive payments in pounds, hold your balance, convert it to other supported currencies, or send money internationally, all from one app.

Opening an account only takes a few steps:

1. Create your Grey account. Sign up using your email address and complete your profile.
2. Verify your identity. Upload a valid government-issued ID and any documents requested during the verification process.
3. Open your GBP balance. Once your account is approved, you'll receive UK account details that you can use to receive payments in pounds.
4. Start managing your money. Hold your GBP balance, convert it when exchange rates suit you, or transfer funds to supported countries.

Grey is designed for people who earn, spend, and move money internationally, making it a practical option for freelancers, remote workers, businesses, and anyone preparing to relocate.

You can also apply for a Grey virtual debit card, making it easier to pay for subscriptions, online purchases, and other everyday expenses directly from your account.

Whether you're getting paid by a UK employer, invoicing international clients, or simply want a UK account before moving, Grey gives you a way to start managing your money without waiting until you've established residency.

Ready to get started? Open a GBP account with Grey as a non-resident today.

Frequently Asked Questions

Can I open a UK bank account without living in the UK?

Yes, it's possible, but your options are more limited. Many traditional UK banks require proof of a UK address before they'll open an account. However, some digital providers and multi-currency accounts allow non-residents to apply online using a passport and proof of address from their home country.

Can a tourist open a UK bank account?

Usually not. Most high street banks expect customers to live in the UK and provide proof of a local address. If you're visiting the UK for a short period, you may find it easier to use a provider that accepts applications from non-residents. If you're planning an extended stay, read our guide on opening a UK bank account as a temporary visitor to learn more about your options.

Is it legal to use someone else's address to open a UK bank account?

No. You should never use a false or borrowed address when applying for a bank account. Banks verify the information you provide as part of their identity and anti-money laundering checks. Providing inaccurate information can lead to your application being rejected or your account being closed.

Can I keep my UK bank account if I move abroad?

That depends on your bank and the type of account you have. Some banks allow customers to keep their accounts after moving overseas, while others may ask you to close or convert your account. If you're planning to leave the UK, check your provider's terms and notify them of your new address.

Which UK accounts can non-residents open online?

Several digital providers and multi-currency accounts accept applications from non-residents, although their eligibility requirements vary. Before applying, check whether the provider accepts proof of address from your home country and whether you can complete identity verification remotely.

Do I need a UK phone number to open a UK bank account?

Not always. Some providers require a UK mobile number, while others accept international phone numbers during registration. Check the account requirements before you apply, as this can vary between providers.

Over the last decade or so, Lisbon has become one of Europe’s choice destinations for expats and digital nomads. The city offers a great year-round climate, low living costs by European standards, and robust digital infrastructure that supports remote work.

A single expat or digital nomad in Lisbon needs between 1,800 and 2,500 euros per month for a comfortable lifestyle. Rent for a one-bedroom flat in central Lisbon ranges from 1,100 to 1,700 euros. Outside the centre, rents drop to 700 to 1,000 euros. Food, transport, and utilities are reasonable compared to other Western European capitals.

This guide breaks down the cost of living in Lisbon, including housing, food, transport, utilities, healthcare, and sample monthly budgets. You'll also learn how to manage your finances if you're earning in foreign currencies while living in Portugal.

How much does it cost to live in Lisbon?

You can live comfortably alone in Lisbon on €1,800 to €2,500 per month, depending on neighbourhood and lifestyle. Two people sharing a flat can live on €2,800 to €3,800. A family with one child typically needs €4,000 to €5,500.

These estimates assume you shop at local supermarkets, use public transport, cook most meals at home, and eat out a few times each week at neighbourhood restaurants.

For comparison: a comparable lifestyle in London requires £3,500 to £5,000 per month for a single person, in Paris €3,000 to €4,200, and in Berlin €2,200 to €3,000. Lisbon is more affordable than any of these, while offering a Mediterranean quality of life and access to the Schengen Area.

Here is a table comparing how much it costs to live in Lisbon with Berlin, Paris, and London.

* Many UK residents rely on the NHS, so private health insurance is optional.

** France's public healthcare covers most residents, with many people purchasing low-cost top-up insurance (mutuelle).

*** In Germany, health insurance is compulsory. The amount varies depending on whether you're covered by the public or private system.

Also note that the estimate for London is in GBP.

Learn more about the living costs for expats and digital nomads in Germany, Paris, and  London

Rent in Lisbon: what to expect

Rent is usually your biggest monthly expense in Lisbon. Lisbon’s rent cost for expats have increased over the past few years because demand has grown and there are fewer long-term rental properties available. Furnished short-term apartments also cost much more than standard long-term rentals.

Here is a neighbourhood guide:

• Alfama and Mouraria: These are two of Lisbon’s oldest and most historic neighbourhoods, and they are just next to each other. It is quite tough to find vacant living spaces, but when available, one-bedroom flats run €900 to €1,400.
• Bairro Alto and Príncipe Real: They are not far from the historic neighbourhoods, central, vibrant, and a choice location for creatives. Expect €1,200-€1,700 for a one-bedroom.
• Avenidas Novas and Picoas: These areas are closer to the business district and are walkable (because they are less hilly than other parts of Lisbon). One-bedroom flats are priced between €1,100 and €1,600.
• Belém: This is the Portuguese word for Bethlehem. It is perhaps the best neighbourhood for people who love waterbodies. It is located along the Tagus River and houses Belém Tower (Torre de Belém) and the Jerónimos Monastery. One-bedroom flats average €900-€1,300. You can get to the city centre via tram or bus.
• Benfica, Campolide, and Alvalade: These local neighbourhoods are not popular settlements for expats. Benfica and Alvalade are popular footballing neighbourhoods and rivals. One-bedroom rents run from €700 to €1,000 with good metro access. Less English-speaking infrastructure, but excellent value.
• Cascais and Sintra: These are satellite towns, 25 to 40 minutes by train, for beach lovers. Rent here is considerably lower, around €800-€1,200. But you must consider the daily commute if you have to. It is mostly better for remote workers who love to stay away from the buzz of the city centre.

Short-term furnished rentals through platforms like Idealista, Uniplaces, or local agencies run 30% to 60% above long-term rates. If you're staying longer than a few months, signing a long-term lease is usually much cheaper than booking furnished accommodation through these platforms.

Food and groceries in Lisbon

Food is one of the reasons many expats enjoy living in Lisbon. Shopping at local supermarkets and eating at neighbourhood restaurants is affordable compared to most Western European cities.

• Groceries: Pingo Doce and Continente are the two most widely distributed supermarket chains. A weekly supermarket run should cost around €45 to €75 for a single person. Lidl and Aldi are also present and cheaper. Organic and imported products at Celeiro or El Corte Inglés are considerably more expensive.
• Eating out: A typical lunch menu costs €10 to €14 and often includes a starter, main course, dessert, and coffee. Dinner at a local restaurant usually costs €15-€25 per person. Tourist areas such as Baixa and Chiado are usually more expensive.
• Coffee: A bica (traditional Portuguese espresso) at a local café costs €0.80 to €1.10. It might cost €2 to €3 at high-end cafes.
• Wine: Good Portuguese wine costs €4 to €8 per bottle in supermarkets and around €15 to €25 in restaurants.

A single person eating out three to five times per week and cooking most other meals spends €350 to €650 per month on food and drink in Lisbon.

Transport, utilities, and internet

• Transport: Lisbon has an excellent public transport system. The Navegante Metropolitano monthly pass costs €40 and covers the metro, buses, trams, and suburban trains. Uber and Bolt are also widely available and reasonably priced.
• Utilities: Monthly electricity and water bills for a one-bedroom flat cost €60-€100 in summer and €90-€150 in winter. Lisbon is not usually as cold as most parts of Europe during winter, so heating costs less. Some older properties might use gas, while newer buildings have electric heating.
• Internet: Fibre broadband is widely available across Lisbon. NOS, Meo, and Vodafone Portugal all offer 100 Mbps to 1 Gbps plans in the €30-€50 per month range. Mobile data is affordable, with unlimited data plans available from €20 to €30 per month. For nomads, Lisbon has excellent residential internet connectivity.

Sample monthly budget for digital nomads in Lisbon

This is a sample budget for a nomad in Lisbon:

At this budget, a remote worker earning $3,500 to $4,000 per month in USD has a comfortable margin after living costs. The Portugal NHR tax regime guide is worth reading before arrival if you intend to become a Portuguese tax resident, as it can significantly affect how your foreign income is treated for the first ten years of residency.

How to manage your finances as an expat in Lisbon

If you are an expat or digital nomad earning in USD or GBP, managing your finances in Lisbon might be a bit tricky. Rent, groceries, utilities, and other everyday expenses are paid in euros, so exchange rates can affect how much your income is worth.

Opening a Portuguese bank account

To open a bank account in Portugal, you'll first need a NIF (Número de Identificação Fiscal), which is Portugal's tax identification number. Non-residents can apply for one before moving to Portugal through a tax office or a fiscal representative.

Banks such as Millennium BCP, Caixa Geral de Depósitos, Santander, and Novo Banco all offer accounts for non-residents, although the documents required and account fees vary.

Many expats use a Portuguese bank account for local expenses while keeping a multi-currency account for receiving income from abroad.

Receiving income in foreign currencies

If your clients pay you in USD or GBP, converting your income at the right time can help you get more value and lose less to international wire fees and forced conversions. Many traditional banks use their own exchange rates, which are often less favourable than the mid-market rate and are subject to undisclosed markups.

Opening a multi-currency account with Grey gives you USD, GBP, and EUR accounts with real foreign banking details. US clients pay via ACH to a US routing number. UK clients pay via Faster Payments. EU clients pay via SEPA. The income arrives in full, and you convert to EUR at the rate shown before you confirm. You can also send money to Portugal with Grey from wherever you are managing income from abroad.

Open a multi-currency account with Grey today to receive USD and GBP payments and convert to EUR while living in Lisbon.

Frequently asked questions

Is Lisbon expensive compared to other European cities?

Lisbon is moderately priced by Western European standards. It is cheaper than London, Paris, Amsterdam, Zurich, and Dublin. It is comparable to Madrid and slightly more expensive than Porto, Braga, or smaller Portuguese cities. The rental market has tightened significantly since 2019, but food, transport, utilities, and leisure costs remain well below Northern European equivalents.

How much rent should I budget for in Lisbon?

A one-bedroom flat in a central neighbourhood runs €1,100 to €1,700 per month. Outside the immediate centre, in areas like Alvalade, Benfica, or Campolide, the same flat costs €700 to €1,000. Short-term furnished rentals run 30% to 60% above long-term rates. For the best value, seek a direct long-term lease from a local landlord rather than through international platforms.

Do I need a Portuguese bank account to live in Lisbon?

For everyday life in Lisbon, an international Visa or Mastercard works at most places. For paying rent, utilities, and signing contracts, a Portuguese bank account or a euro account with an IBAN is significantly more practical. A NIF (Portuguese tax number) is required to open any Portuguese bank account. It can be obtained by non-residents at a tax office or through a fiscal representative.

Is Lisbon affordable on a freelance income?

At $3,000 to $4,000 per month in foreign income, a freelancer can live comfortably in Lisbon with money left over. At $2,000 to $3,000 per month, a comfortable but more budget-conscious lifestyle is achievable in a non-central neighbourhood. Below $2,000 per month, Lisbon is livable but requires careful budgeting given the rent market. Porto and smaller Portuguese cities are meaningfully cheaper at all income levels.

What is the cheapest neighbourhood to live in Lisbon?

Benfica, Campolide, Mouraria, and the outer reaches of Amadora offer the lowest rental prices within Lisbon's city limits, typically €600 to €900 for a one-bedroom. The satellite towns of Setúbal, Almada, and Barreiro (across the Tagus) are even cheaper with train connections to Lisbon, but the daily commute adds time cost.

Can I receive USD or GBP income while living in Lisbon?

Yes. Living in Portugal does not restrict how or where you receive your foreign income. Many expats maintain a multi-currency account to receive income in their clients’ currency, then convert to euros as needed for local spending. Grey provides virtual USD, GBP, and EUR accounts with real local banking details. The EUR account with a genuine IBAN accepts SEPA transfers, which makes it practical for receiving income from European clients directly.

Disclaimer: This article is based on researched data and is intended to give readers a general overview of the cost of living in Lisbon. The figures provided are estimates gathered at the time of writing and may vary depending on location, lifestyle, and market changes.