Embracing Portugal: From Golden Visa to Everyday Life

Recently, many foreigners are now looking at creating a place for further activity and residence in the countries of Southern Europe, in particular, Portugal. It is not by chance because this territory is famous for its favourable climate and friendly population.

In addition, the high quality of life, cheapness of goods and services, and various entertainment activities attract a wealthy stratum of representatives of post-Soviet countries. However, firstly, it is necessary to obtain a Portugal Golden Visa, and Zlata Erlich, an expert in the Immigrant Invest agency, will tell you about it.

Investment Pathways to the Golden Visa

Since 2012, this southern European country has had a unique program that allows residents of non-EU countries to apply for a residence permit. The applicant has to become an investor in several promising projects. A potential candidate uses his capital for:

• purchases of 500,000 euros worth of shares in venture capital or investment funds;
• donating 500,000 EUR to research and development companies;
• contributing 250,000 EUR to cultural and artistic heritage;
• starting a company with the creation of 10 vacancies
• a contribution of 500,000 EUR to the establishment or expansion of the share capital of a company with its head office in Portugal.

The authorities issue the pass for one year and then renew it every two years.

Eligibility Criteria and Application Process

To obtain a Portugal golden visa, it is necessary to meet the following requirements:

• lack of EU citizenship status;
• adults;
• no criminal record;
• the capital must be accumulated outside Portugal;
• have no debts in the country;
• obtain health insurance.

If you fully meet these conditions, then you need to submit such documents to get a residence permit:

• a certificate of title and a purchase and sale agreement for the residential or commercial space;
• identification and TIN of all applicants;
• verified entry documents;
• health insurance certificate;
• certificate of absence of criminal prosecution in the country of residence;
• a document confirming the absence of tax arrears;
• certificate of marriage and birth of children;
• certificates from the place of work and study.

Once the documentation has been provided, there are several other procedures to go through:

• preliminary inspection;
• selection of real estate objects;
• processing an application to the migration service;
• making records in the electronic registry;
• submission of residence permit documents for all dependents and family members.

After that, the so-called cards, which allow you to live in the territory of the country of Southern Europe, are handed over. The process of registration under favourable circumstances takes from 4 to 6 months.

Legal and Tax Implications

Portugal's golden visa program is an excellent option to get a “reserve airfield” for future activities and life. Once you can obtain such a pass, you can immediately feel specific pros:

1. Safety. Crime is low, and you can feel fully protected in this southern country.
2. Preferential taxation. The state does not tax pensions, dividends, or profits from self-employed persons. The earnings of highly qualified professionals are subject to a progressive tax rate of 20% for ten years.
3. European bank account. You can become a client of a prestigious financial institution that guarantees secure transactions for your operations.
4. Unimpeded travel. The holder of such a pass can travel around Europe without a visa. At the same time, you only need to stay in Portugal for a week a year.
5. First-class education. Obtaining the status of a resident allows you to get a prestigious education. Specialist diplomas are recognised in many countries of the world.
6. Naturalisation. After 5 years after obtaining residency, you can apply for citizenship.

As you can see, there is a way to move to a safe territory with a good climate and a high standard of living in Portugal.

Transitioning to Life in Portugal

Once you have achieved citizenship status, acquiring EU citizens rights is possible. The persons also get ownership of residential and business infrastructure, which can be sold after 5 years or rented out, receiving quite decent money.

To acquire the status of a citizen, it is necessary to:

• fulfil all the requirements of the Portuguese golden visa by investment;
• pass a Portuguese language qualification;
• submit documents proving that they have not been prosecuted for a crime under local law.

A resident does not have to apply for citizenship. He can continue enjoying all the benefits of the blossoming southern European country.

Immigrants who have chosen Portugal as a refuge for future activities can take advantage of many programs. However, getting a “golden pass” is a real opportunity to improve your life. You need a certain amount of capital worth using for a favourable decision. The money should be invested in the economy or finance the preservation of cultural heritage.

After five years of residency, you can count on citizenship if needed. The best solution for paperwork is the help of specialists. Agency employees complete their work efficiently, and on time, help you save money, and provide maximum comfort.

Embracing Portugal offers a unique blend of opportunities, from the coveted Golden Visa program to everyday life in this vibrant European country. Whether you're considering relocation from a bustling city like London or seeking a second home in a serene coastal town, Portugal's Golden Visa program provides a pathway to residency and citizenship through real estate investment.

Beyond the visa program, Portugal is enchanted with its rich cultural heritage, stunning landscapes, and favourable climate, making it an ideal destination for both work and leisure. From exploring historic cities like Lisbon and Porto to enjoying leisurely evenings along the Algarve coast, Portugal offers a high quality of life with a welcoming atmosphere. Whether you're drawn to its affordable cost of living, excellent healthcare system, or thriving expat community, Portugal promises a fulfilling experience for those looking to make it their new home or frequent getaway from cities like London.