The most popular location in Europe for expats is now Portugal. This is in part because Portugal has great weather and reasonably affordable housing. Excellent healthcare and excellent education are further contributing factors.The Portuguese government has been encouraging international investors to settle permanently in Portugal for the past several years by providing a number of alluring visa alternatives in an effort to grow the Portuguese economy by luring in foreign capital. For instance, Portugal's Golden Visa Program has attracted many non-EU nationals to the country.
Permanent residents have a different status than temporary residents because their residence permits are given out indefinitely. Foreign citizens must have five years of a temporary address and be under the golden visa programme exempt from staying in Portugal for more than six consecutive months or a few eight consecutive months in order to gain permanent residency in Portugal. There are various ways to obtain a Portuguese permanent resident title, "which is issued for an infinite period of time with the need that the card be changed every five years."
The same rights are granted in the country with a permanent resident permit, excluding political rights. You can travel to 188 countries without a visa with a permanent resident permit, and 26 Schengen nations will provide you a permanent residence card.
In this article we have charted 5 steps on how to get PR visa for Portugal. Foreign nationals must possess a resident permit in Portugal in order to live and work there.
A residence permit may be obtained by employment. When arriving in Portugal, a non-European citizen is permitted to submit an application for a work and residence Portugal visa within 90 days. The golden visa plan is an investment programme that allows people to earn permanent residency. According to Portuguese legislation, family reunification may also be used to petition for residency. Also, the student may apply for a residency visa, but their course of study must last longer than six months. Possessing permanent residency in Portugal has many advantages. Living and working in Portugal allows one to enjoy a good standard of living, free travel to Schengen nations, as well as high standards of healthcare and education.
- Property Purchase Purchase residential or commercial real estate starting at €280,000 ($500,000).(A lower rate of 20% is applied to purchases of real estate in low GDP or low population density areas, which is equivalent to €400,000). Purchase a property that needs renovation that is more than 30 years old for €350.000. (€280,000 - 20% discount applied when purchasing estate in a low GDP or sparsely inhabited area)
- 10 New Jobs in Portugal or Investment in a Company in Portugal. Create at least 10 new positions, or create a minimum of 5 permanent positions and invest at least €500,000 in your company.
- Transfer of Capital From €1,500,000
- A capital investment into a Portuguese bank account or into a specific investment option that has been approved is needed of applicants.
- Investing in culture and the arts. A total of €500,000 will be used by authorities, governmental organisations, public or private funding to enhance national culture and history.
- Investment in science and technology: Research projects require a €500,000 investment.
Start-up visas, an alternative to investment visas, require applicants to launch a start-up in partnership with a renowned Portuguese business incubator.
The investor must keep money pouring into the investment enterprise and must stay in Portugal for at least seven days each year to preserve resident status. Every two years, the residency permission card must be renewed.
The investor must stay in Portugal for at least six months within three years of gaining permanent residence status in order to keep such status.
PROCESS OF IMMIGRATION
The process of immigration to the US is different according to the type of Visa that you are applying for. However, here is a generic overview of the process:
There are a variety of options available for you that can allow you to move to the United States of America. These options are tailored according to the reason you are seeking to move to the country. These reasons include diversity, work, family, and humanitarianism. Here is a brief look at all of these:
BENEFITS OF A PORTUGAL PR VISA
Your efforts and ours are combined in the pursuit of the advantages and benefits of this permanent residence, which enable you to take advantage of the following benefits:
- You will be able to live and work in Portugal without any limitations thanks to this option for a permanent residence permit.
- Also, it aids in the ongoing continuation of your education and studies. In terms of your profession, it enables you to pursue activities as an independent professional who gets paid for them.
- Along with financial advantages, permanent residency will give you full access to medical services and the legal system of the country.
- Visa-free access to the Schengen Area and the EEA/EU with a Portugal PR visa.
- EU citizenship opportunity
- Access to the labour force
- Education is available to everyone.
- Being able to use and gain access to the Portuguese healthcare system.
- Compensation for unemployment if a situation arises where you lose your job.
- You have the choice of inviting additional family members for the chance to get Portuguese citizenship.
- Tax relaxation after obtaining NHR status (Non-habitual Resident) where no tax is levied on income outside Portugal.
You can now go on to the next phases of Portuguese bureaucracy because you hold temporary residency in Portugal for a term of five years:
- Get an NIF (if you don't already have one)
- Portugal bank account opening
- Submitting an NHR application
- Registering with your local health centre and receiving a user ID
- Purchasing private medical insurance (if interested)
- Submitting a Social Security claim
- Getting a licence or exchanging one
- You must apply for a new one if you misplace your residency certificate or move during those five years.
CONTACT THE VAZIR GROUP TO GET PROFESSIONAL ASSISTANCE FOR YOUR PR DREAM IN PORTUGAL
Vazir's immigration consultants will assess your unique situation and assist you in choosing the best programme and estate choice. You will be escorted through the step of document collection and given a thorough checklist.
To ensure that all requirements are completed, including proof of investment evidence, experienced immigration consultants of Vazir Group will produce all necessary documents in conjunction with the residency application and perform a final compliance check on each document.
HInvesting in a Portuguese company, buying Portuguese real estate, or transferring funds to the Bank of Portugal are all examples of such transactions. Vazir Group will offer you the greatest investment solutions that are suitable for your needs.
