Born in Nacala, Portuguese Mozambique from a colonial White African family, Costa Pereira was noticed by S.L.

He signed for the Portuguese side in 1954 and immediately became first-choice, making 26 appearances in his first season and winning the first of his seven Primeira Liga championships.

[3] In the latter, against Inter Milan at the San Siro, a Jair attempt late in the first half slid under his body and entered the net for the game's only goal; he was also injured shortly after, and had to be replaced by defender Germano since substitutes were not allowed, and Benfica played more than 30 minutes with ten players.

[9] Costa Pereira started the successful qualifying campaign to the 1966 FIFA World Cup, featuring in a 5–1 victory over Turkey in Lisbon on 24 January 1965.

[10] He was, however, overlooked for the finals by coach Otto Glória – his former boss at Benfica – due to poor form, as the national team went on to finish in third place.