How to obtain a residence permit in Portugal for financially independent individuals?

Why should foreigners consider moving to Portugal?
How can Russians obtain Portuguese citizenship with dual citizenship?

Attractive opportunities for moving to Portugal

Portugal offers attractive opportunities for foreign citizens looking to take a step towards financial independence and relocate to its territory. The main conditions of the program are quite simple and accessible — it is enough to rent or purchase housing and confirm the availability of funds in a bank account that will ensure a comfortable existence. This program has high accessibility, making it appealing to many potential applicants.

Who can take advantage of the program?

The temporary residence permit for such migrants is often referred to as "residence permit for pensioners," but this right can be utilized not only by elderly people, but also by:

entrepreneurs with a stable passive income;
landlords who profit from renting out their property.

This visa category allows foreigners who have purchased or rented housing in Portugal to apply for residency if they have sufficient funds to support their families for an entire year. Children who are granted residency have the opportunity to study in educational institutions in Portugal, and their relatives will be able to access the local healthcare system.

The process of obtaining a visa and residence permit

In order to enter the country, foreigners must obtain a national visa type D7, which is valid for four months. During this time, they need to contact the Immigration and Borders Service (SEF) to apply for their first temporary residence permit, which is valid for one year. This temporary residence permit can be renewed every two years, and after five years of living in Portugal, it will be possible to apply for permanent residency and subsequently for citizenship.

Limitations and opportunities

The initially issued temporary residence permit does not grant the right to work; however, in most cases, this restriction is lifted upon the next extension. At the same time, starting your own business or working for yourself is allowed without any restrictions.

Advantages of the program

The advantages of this program include the freedom of movement across the countries of the European Union. Foreigners who have obtained a residence permit in Portugal are exempt from the need to obtain Schengen visas for travel within the EU. Holders of this type of residence permit can stay in Portugal on a permanent basis and spend time in other European countries for up to three months within a six-month period.

Family members' rights

Moreover, such a visa allows for the extension of residence permits if all program conditions are met. The program also extends to family members who may be eligible for residence permits for reunification. These include:

spouses;
minor children;
older children without families studying at Portuguese universities;
brothers and sisters;
dependent parents.

Obtaining permanent residency and citizenship

After five years of residency in Portugal, foreigners become eligible for permanent residency and can subsequently apply for Portuguese citizenship. This process is considered one of the fastest within the European Union, unlike countries such as Spain or Italy, where one must reside for at least 10 years to obtain citizenship, and in Greece, it is 7 years.

Dual citizenship in Portugal: rules and conditions

Portugal offers foreign citizens, including Russians, the opportunity to hold dual citizenship, allowing them to retain their Russian passport while also becoming citizens of Portugal. In this article, we will take a detailed look at the key requirements for obtaining permanent residency in this country.

Permanent residence

The first aspect to consider is the availability of permanent housing in Portugal. Foreigners must either buy or rent a property on a long-term basis — this can be an apartment or a house. Although exact housing prices are not specified in advance, experts recommend choosing real estate that matches the average market value. Most often, preference is given to apartments whose owners already have experience in renting out properties.

Passive income

The second important requirement for immigration is having a verified passive income. Foreign citizens are required to provide evidence of their financial stability, which is not dependent on their place of residence.

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The minimum income must be above the subsistence minimum in Portugal, which is 635 euros per person per month, or approximately 7,620 euros per year. If a family plans to move, an additional 3,600 euros is added for each adult and 2,160 euros for each child. Acceptable sources of income may include:

real estate rental;
bank dividends;
pensions;
business income;
income from intellectual property;
investments in securities.

The simplest way to demonstrate your financial capability is to have the required amount in your bank account.

Necessary financial resources

To estimate the minimum necessary financial resources for living in Portugal for a year, the following amounts can be highlighted:

for the main applicant — 7,620 euros;
3,600 euros for each additional adult;
2,160 euros per child.

These figures represent the minimum conditions that must be met to open the doors to the residency program in Portugal. The higher the confirmed income amount, the greater the chances of a positive decision on the application.

Tax residents

To become a tax resident of the country, one must spend at least 183 days a year in Portugal. This condition automatically implies the taxation of a foreigner as a resident. However, there is an option to take advantage of a special tax regime if the foreigner intends to become a tax resident of Portugal and requests the status.non-habitual residentsThis regime is quite beneficial, as it allows for a reduction of income tax by up to 20% over a period of 10 years. Additionally, recipients of this status are exempt from paying taxes on income earned outside the country. Portugal has no inheritance, gift, or property taxes. For holders of this tax status, there is also the possibility of transferring money free of charge both to Portugal and beyond its borders.

Stages of participation in the program

Now, let's briefly go over the steps that need to be taken to participate in the program. First and foremost, it's important to have a consultation with a lawyer who can clarify the available paths to obtaining citizenship, help outline all possible expenses, and properly prepare the documents for submission. The second step will be to purchase or rent real estate, which is necessary for successfully obtaining a residence permit.

Conclusion

In conclusion, the residency program in Portugal for financially independent individuals opens up many opportunities for those seeking a new home in Europe. I was pleasantly surprised by how accessible and straightforward this process turned out to be. Portugal offers unique living conditions, including a wonderful climate, amazing heritage, and a high standard of living.

In conclusion, it can be noted that this program not only allows foreigners to enjoy all the benefits of living in Portugal but also provides significant financial advantages. The opportunity to obtain residency for the whole family, as well as the quick path to permanent residency and citizenship, makes it an attractive option for retirees, businesspeople, and anyone with passive income.

Recommendations

I recommend that potential participants in this program seriously consider practical steps, starting with consulting professionals to avoid mistakes and accurately calculate costs. A proper strategy combined with the necessary documents will be the key to success in this matter.

Consultation with a lawyer:Get professional assistance to assess the possibility of participating in the program.
Buying or renting property:Choose a suitable accommodation option.

Thanks to Portugal's flexible and welcoming policies, many have the opportunity to leave their familiar way of life and start a new chapter by the Tagus River or in a cozy corner of the Algarve. A sense of freedom, access to quality education and healthcare for family members, as well as a vibrant cultural life — this is what awaits those who are ready to take a step forward. Portugal is becoming not just a new country of residence, but a true homeland for those seeking change.

May this journey be successful, and may the long-awaited changes bring happiness and fulfillment.