Situated in the intersection of the literature on QoL and lifestyle migration, this paper contributes to the discussion of three subjective components of QoL after migrating to another country. These are hedonic (happiness), evaluative (life satisfaction) and eudaimonic (having a purposeful or worthwhile life). Based on 36 in‐depth interviews to Swedish citizens permanently living in Portugal, a group understudied in the lifestyle migration framework, three groups of individuals were identified according to the drivers of migration. Following a life‐course approach, the research question exploring in what way has the QoL changed (or not) after migrating to Portugal is responded. Swedes compare different issues premigrating and postmigrating, cutting across the drivers that brought them to Portugal. The findings suggest differences in happiness, life satisfaction and purposefulness differ according to one's relative economic comfort, standards established for oneself moral principles on how to live, and identity making projects. Despite the challenges that remain, the perceived QoL has generally increased after settling in Portugal comparatively to what it was in their home country, especially in the evaluative and eudaimonic components.