Today, wealthy investors have no problem with changing their country of residence. Often countries themselves offer favorable conditions for non-residents of the country in order to get investments. Portugal is one of the first countries that decided to grant such a right to investor. This decision led to the fact that investors:
- buy real estate;
- invest in the development of the country;
- enjoy the benefits of living in Portugal.
There are several options for Portugal residency by investment, so you you have the opportunity to choose the most advantageous and take advantage of expert advice. In order to obtain citizenship there are no problems, it is worth familiarizing yourself with the nuances of the investment program.
Preparing to move
Temporary change of residence can be a basis for obtaining a second citizenship, so it is necessary to take time to search for available options. If you choose Portugal, try to follow the suggested algorithm as early as possible:
- Collect documents. To become a resident, you must not just visit the embassy, but also submit documents. The list includes bank statements, medical examination and more. Preparation in advance will save you a lot of time.
- Familiarize yourself with the requirements. Portugal offers several ways to obtain citizenship. Thanks to this, applicants have time to make the right decision and quickly get residency in Portugal.
- Prepare for the relocate. The terms of the investment program stipulate the number of days you are required to spend on its territory. If this requirement is not met, you may have a rejection.
The registration of the application is only part of how long does it take to get residency in Portugal. Consultations of specialists will help to avoid common mistakes and achieve a result in a short period. Listening to the opinion of an expert on investment programs in Portugal Evgeniya Morozova (Immigrant Invest company), you can save your time and reduce costs.
Do you have to apply for a residence permit?
Visa issuance will be required for those investors who are citizens of a country that is not part of the European Union. The purpose of your arrival in Portugal (work, study, other) will allow you to determine the correct type of visa.
Obtaining a visa permit will permit you to cross the border into Portugal and apply for a residence permit. Visa, which is issued in your home country, will provide you with an opportunity to arrive to the Portuguese embassy and apply for official status and Portugal residency.
All documentation is done at a special branch of the embassy. Before arrival at the office, it is necessary to prepare the documentation according to the Portuguese legislation. The application for the permit is submitted immediately upon arrival in the selected city.
An exception is for investors who reside in one of the European Union countries. In this case, no visa or other documents are required. Registration with the tax office and the mayor’s office allows you to reside in Portugal for 5 years.
Portuguese investment program
The Golden Visa program allows investors to obtain Portugal resident status for making an investment. The amount of the fee, the industry and other requirements for the candidate depend on the chosen method of receiving a residence permit in Portugal. Investing in a new country will bring new business opportunities outside of your home country.
Among the proposed options stands out the investment through the purchase of real estate. The final amount of investment is influenced by many factors including the chosen invest way. In average, you can get a residence permit by purchasing property, the price of which is 500 thousand euros. The government provides for cases where buy property in Portugal and get residency can be cheaper.
The purchase of real estate will help to use it for residence or renting. However, there are other investment options for participating in the Golden Visa program. If buying property is not in your plans, you can invest in:
- scientific research (from 350 thousand euros);
- creation of a company with a staff of 10 people or more (from 250 thousand euros);
- art and cultural monuments (from 250 thousand);
- small or medium-sized Portuguese companies (from 500 thousand).
Contributing funds makes it possible to obtain a golden visa and take care of a hassle-free visit to Portugal. In addition, investors enjoy some privileges. For example, owners are not required to reside permanently in the country to extend the Portugal residency visa.
Documents for registration of the investor’s visa
Wealthy entrepreneurs cannot avoid the official part of obtaining Portugal residency. For this purpose, it is necessary to prepare a package of documents, which includes not only confirmation of payment of contributions, but also:
- existing passport;
- a certificate of no criminal record;
- Your country’s bank statement;
- results of a medical examination;
- Certificates of marriage (birth of children);
- health insurance.
This way, you will be able to prove that you are responsible to the law and that you are not a threat to the health of other Portuguese people. Having dependents (spouse, children) increases the amount of investment. For more information, see https://imin-portugal.com/blog/portugal-golden-visa-benefits/.
Advantages of the Golden Visa Portugal
Investing in the economy and real estate allows you to become a full member of society and enjoy the same benefits as other Portuguese. A golden visa not only allows you to avoid problems when traveling, but also over time to obtain a second citizenship. There is no need to give up your existing passport: Portugal permits to keep both.
However, moving to a sunny country gives you other benefit that will be good for your business:
- Security. The low crime rate in the country is due to the high quality of life. Living in Portugal, you do not risk anything.
- Affordability. The cost of real estate in Portugal is much lower than in other European Union countries.
- Convenience. The high standard of living and quality allows you to enjoy all the charms of Portugal.
- Education and health care system. Advantage allows you to get a second education and health insurance. Qualified staff provides the necessary assistance to all residents.
- Bureaucracy. Travel outside of Portugal does not cause difficulties. Thanks to agreements with about 200 countries for a visa-free regime will allow travel without a visa.
The choice of destination for the golden visa depends on your preferences. Investment in real estate will pay off within a few years and will allow the development of tourism business. The relatively low cost of housing in Portugal is one of the main competitive advantages of the country in comparison with others.
The investment program Portugal residency visa facilitates not only obtaining a residence permit, but also the issuance of the Portuguese passport. Having an official confirmation guarantees high security and quality of life in a country flooded with sunshine all year round.