Moving to Portugal
More than 10 million people have chosen Portugal as their home, and among them are almost 600,000 foreigners who are legally residing in the country. This flow of migrants is constantly increasing, especially in cities such as Lisbon, Faro, Setubal and Porto.
With the gratitude of stable economic growth in recent years, living standards in Portugal have been steadily rising. Unemployment, which reached 16.2% in 2013, has fallen to 5.9% by 2020. Portugal is an inexpensive country to live in with a high quality of life.
The following benefits of living in Portugal may convince you to choose this country:
Affordable Housing:Buying a home in Portugal costs an average of 1,100 euros per square meter, which is lower than in neighboring Spain.
Low prices:The cost of living in Portugal is 1.5-2 times lower than in France, Germany, Austria and Switzerland.
Pathway to Citizenship:You can apply for Portuguese citizenship after living in the country for 5 years, which is one of the fastest ways to obtain a European passport.
Preferential tax treatment:For new tax residents, Portugal has a special regime of a reduced income tax rate and no taxes on income earned outside the country.
Healthy and delicious food:Mediterranean cuisine promotes health and longevity. The average life expectancy in Portugal exceeds 81 years.
Safety:Portugal is recognized as one of the safest countries in the world and ranks third in the Global Peace Index 2020.
Pleasant climate:Portugal offers a mild climate with comfortable summer temperatures and plenty of sunny days.
English language:English is widely used in Portugal, which makes it easier for foreigners to adapt and communicate.
Friendly attitude:Portugal was recognized as the most hospitable and friendly country towards foreigners in 2020.
So, moving to Portugal offers many advantages, making this country one of the best choices for living in Europe.
The cost of goods and services in Portugal
Prices for services and goods in Portugal can vary depending on the region and level of comfort, but on average, you can expect the following expenses:
- Lunch for two at a restaurant: about 30 euros.
- A bottle of wine: about 4 euros.
- A movie ticket: about 7 euros.
- A fitness club membership (for a month): about 33 euros.
- Taxi fare per kilometer: about 0.5 euros.
- Monthly utility bills for an 85 m² apartment: about 100 euros.
There are several ways to move to Portugal.
On a work visa:You can come to the country if you obtain a work visa or find an employer willing to sponsor your visa.
Marriage to a resident:If you marry a Portuguese resident, it may also grant you the right to a residence permit.
Study:Enrolling in an educational institution in Portugal can open up the possibility of obtaining a residence permit.
Investments:Investing in the Portuguese economy can lead to obtaining a residence permit. For example, by purchasing real estate worth at least 350,000 euros.
Startup:Opening or relocating a startup to Portugal can pave the way for residency.
Financial independenceIf you have sufficient financial resources to prove your financial independence, you might consider this option.
Family reunification:If you are a family member of a Portuguese resident, you can apply for a residence permit through family reunification.
Refugee:In some cases, you can apply for a residence permit as a refugee.
The most popular ways to obtain a residence permit in Portugal are through education, real estate investments, startups, and family reunification. Clarify the requirements and procedures based on your situation, and it is best to consult with local immigration authorities or lawyers specializing in immigration issues for detailed information and advice.
Golden Visa of Portugal: A Path to Residency through Investment
The "Golden Visa" program in Portugal offers the opportunity to obtain residency in the country in exchange for investments. There are two main ways to obtain this visa:
1. Real estate purchase:
It is necessary to buy a property in Portugal costing from 500 thousand euros.
For real estate valued at over 350,000 euros that requires renovation and is located in a historic district, you can also qualify for the program. In this case, the investor is obligated to restore such property.
2. investment in the economy:
The second way is to invest in the Portuguese economy. For example, you can make large cash investments in Portuguese businesses, create jobs and contribute to the development of the country.
Through the Golden Visa program, a residence permit is issued for one year and then extended for two years. If the investment is maintained, the residence permit can be extended indefinitely. After 5 years of residence in the country, the investor is eligible to apply for permanent residence and subsequently for Portuguese citizenship.
It is important to note that as of July 1, 2021, the Golden Visa program for the purchase of real estate in Lisbon, Porto and the coast has been closed. Now golden visas are issued only for the purchase of real estate in the interior of the country, in the Azores or Madeira.
Investing in the Portuguese economy: Alternative ways to obtain a residence permit
As well as buying a home, there are a number of alternative ways of obtaining a 'golden visa' in Portugal, but these often do not attract as much interest amongst overseas investors.
Buying shares or investing in Portuguese companies:
- Acquisition of shares in a Portuguese company or opening an account in a Portuguese bank for an amount of 1 million euros or more.
- Purchase of shares in an investment fund for an amount of 350 thousand euros or more, provided that at least 60% of the fund's investments are in Portuguese companies.
- Starting your own business and creating a minimum of 10 jobs for Portuguese citizens.
- Donation for research activities in Portugal in the amount of 350 thousand euros.
- A donation of 250 thousand euros for the restoration and preservation of the country's cultural heritage.
Financially Independent Persons:
Portugal grants residence permits to wealthy foreigners who can prove sufficient income to live in the country. This includes pensioners, businessmen with passive income and freelancers who rent out real estate.
In order to obtain a residence permit, you must have a home in Portugal and passive income above the minimum subsistence level in the country, which is 635 euros per month or 7,620 euros per year. This income can come from, for example, rental property, dividends, pensions or business profits.
The foreign investor must demonstrate the availability of a sufficient amount in a bank account:
- 7,620 euros for the main applicant.
- 3,600 euros for each additional adult.
- 2,160 euros for each child.
These are the minimum requirements to claim residency status in Portugal as a financially independent person, but the higher the amount, the higher the chances of successfully obtaining the status.
Employment:
Legal work in Portugal is based on an invitation from a Portuguese employer and the conclusion of an employment contract. The submission of these documents to the Portuguese consulate allows the foreigner to obtain a work visa and then a residence permit.
Foreign migrants should note that priority in hiring is given to Portuguese and EU citizens. Foreigners can only apply for vacancies if there are no interested local candidates.The average salary in Portugal is around €1,200 per month. Highly qualified professionals such as programmers, engineers and doctors can earn more than 2,000 euros per month.
Startup Visa:
The Startup Visa program grants residence permits to businessmen willing to create an innovative startup in Portugal or to relocate their existing startup from another country. The prerequisites include the creation of at least 5 jobs for Portuguese citizens within 2 years and the achievement of an estimated asset value or turnover of at least 325 thousand euros after 5 years.
Lisbon is one of the leading startup hubs in Europe and has a strong IT community. Tax incentives and the availability of company start-ups attract entrepreneurs and innovators from all over the world.
Lisbon's startup hubs:
- Second Home: This startup hub opened its second site in the world in Lisbon after London.
- Startup Lisboa: This incubator is one of the most efficient in Lisbon.
- Lisbon Challenge: A popular gas pedal that supports startups in Lisbon.
- LACS: A co-working space in Lisbon that provides a working environment for startups and entrepreneurs.
- Impact Hub: A startup hub focused on social entrepreneurs and innovators.
- Beato Creative Hub: A giant startup space that is slated to expand to 100,000 square meters.
Study:
Portugal provides an easy way to immigrate by studying at Portuguese universities. Foreign students receive a residence permit for the whole period of study and are entitled to work, but not more than 20 hours per week.
An even easier way is to enroll in a long-term Portuguese language course. This allows you to obtain a Schengen student visa for courses lasting less than three months. Later, with longer courses, it is possible to upgrade to a national visa and eventually to a residence permit.
Family reunification:
Foreigners who have relatives in Portugal (spouses, minor children and dependent parents) can immigrate under the family reunification program. In this case, the inviting party must have Portuguese citizenship or a residence permit in the country. In order to obtain a residence permit, it is necessary to provide documents proving family ties.
Refugees:
Refugees have the right to apply for asylum in Portugal. This requires proof that they are fleeing persecution for religious, political or military reasons. Applications are processed while immigration services check the status of refugees and the necessary services are provided.
Residence permit and residence permit:
In order to obtain a residence permit in Portugal, a foreigner must prove the availability of housing in the country, provide the necessary documents and pay the appropriate fees. The first residence permit is issued for one year and can be extended. After five years of legal residence in the country under a residence permit, it is possible to apply for permanent residence (Permanent Residence) and, eventually, for citizenship.
- The process of obtaining a residence permit includes the following steps:
- Obtaining a national visa at the Portuguese consulate.
- Arrival in Portugal.
- Filing an application for a residence permit with the Service for Foreigners and Borders (SEF).
- Obtaining a residence permit card.
The processing of a residence permit application usually takes from 2 to 12 months, depending on the motive for immigration.
Permanent Residence: To obtain permanent residence (Permanent Residence), you must have lived in Portugal for 5 years with a residence permit and prove your ability to pay, knowledge of the Portuguese language and stay in the country for more than 183 days per year.
Tags
Comment
Popular Posts
Popular Offers
Subscribe to the newsletter from Hatamatata.ru!
Subscribe to the newsletter from Hatamatata.ru!
I agree to the processing of personal data and confidentiality rules of Hatamatata