Considering a move to Portugal ?

Considering a move to Portugal?

??'???? ?????? ?????? ???????????? ?? ???????? ???? ????. ???????????????? ???? ?????? -- ?????????? ??????????????. In a world where borders are closing, demand for a second passport will most likely continue to grow, experts say. The question you need to ask, can you move to the country and live there or do you have to continue living where you are as you make a living where you are at the moment? Portugal offers solutions to both types of needs.

Option 1- Golden Visa ---- Those who want to stay in their current country of residence while opting to avail a Portuguese Residency have to spend 7 days in the 1st year, 14 days in a block of 2 years ie; Year 2-3 and 4-5 combined. You need to acquire one or more properties totalling to an amount of € 500,000 and hold it for 5 years. Your dependents are eligible. (NB)

Option 2 ---- Residence by Means to Live This has many variations, a permanent job offer, retirement visa, start-up tech visa, start a biz etc; If you opt this route you live in Portugal 6 months in the 1st year, then you need to live 16 of 24 months in a block of next two years ie; two blocks Year 2-3, Year 4-5. Your dependents are eligible. (NB)

Both Routes will give you a Permanent Residence in 5 years. You can apply for a Portuguese Citizenship aka Passport in the 6th Year. Learning Portuguese is both fun and easy. There are hacks to learning Portuguese.

Your dependents are your spouse, children under 18, other family members (parents, siblings) - if you can prove dependency will also qualify. Children above 18 will have to prove dependency - proof of admission in a school-college-university anywhere in the world is recognized as a dependency. 

The Golden Visa by Portugal is the single most successful citizenship by investment program. From Oct-2012 to July-2020 9015 non-EU Citizens have taken the Golden Visa of which 4652 are Chinese, 956 are Brazilians, 433 are from Turkey, 370 are South Africans, followed by Turkish and 340 Russian. It is possible that the well-heeled in these countries are investing in the Golden Visa as insurance or for an EU Passport (NB) for their family. 15431 visas were given for family members of these investors in the same period. This has brought in an investment of euros 5,40 Billion to Portugal in the same period. https://www.sef.pt/pt/Documents/JUL_ARI_CUMULATIVO.pdf

An Assessment Trip to Portugal is the 1st step. A week-long trip to Portugal where one spends some time meeting bankers, lawyers, immigration consultants, real estate brokers, educational institutions to assess the country. 

Golden Visa via Investment in Property Route

While there are other routes to the Golden Visa buying a property for € 500,000 or more is the most practical with minimum risk with reasonable ROI options. In 2019 around € 30 Billion transactions in real estate was done, an all-time high of which € 14 Billion was residential. At the moment prices are growing fast and one will need expert guidance in this investment using assessment tools and methodologies to mitigate risks in this market. 

TAX in Portugal

In 2012 Portugal took measures to streamline the so-called Non-Habitual Tax Resident Regime, to attract, to the country, non-resident citizens. This regime is now fully operational and offers significant tax benefits to those wishing to set up residence in Portugal, including citizens of other EU countries. 

The Non-Habitual Tax Resident Regime is applicable to individuals who have not been residents in Portugal in the last five years and that remain in Portugal for more than 183 days during the related year, either consecutive or interpolated or have, by December 31st of that year, housing that they intend to use as their habitual residence.

Among the tax benefits are:

• Exemption from taxation in Portugal, of foreign income, originated from dependent labour or pension income.
• Taxation at a 20% flat rate of proceeds from Portuguese origin, that result from added value activities*.
• The benefits under the Non-Habitual Tax Resident Regime are granted for a period of 10 years. 
• Having tax residence in Portugal, also offers additional advantages, since there is no inheritance tax in Portugal for direct relatives.

Setting up a Biz or Buying a Biz.

Portugal encourages biz investments and is ranked 34 among 190 economies in the ease of doing biz... There are numerous schemes to promote investment like Start-up Lisboa and Start-up Portugal. There is a Start-up Tech Visa. Portugal is fast becoming a favourite location for Tech Companies with Google having set-up an ODC. There is a large pool of tech workforce available at probably the lowest rates in Europe. 

There are businesses for sale which can be identified and due diligence arranged. both with low-or-nil management (accommodation, commercial spaces, shopping complexes, petrol filling stations) and others.. These can be identified as per the preferences of the applicant.

Life in Portugal

Portugal ranked fourth in the Global Peace Index 2018. Living The main cities are well connected by Metro Train, Ferry, Trams and Buses. Taxis, Uber, Cycling are also popular amongst the locals and tourists. It has a luxurious Mediterranean climate and is well connected to Europe and Rest of the World via International Airports of Lisbon & Porto. 

The Henley Passport Index ranks *Portugal as the 5th most powerful with access to 185 destinations visa-free* while South Africa is 51 (100 destinations) and India 80 ( 60 destinations). For Indians, there is an option of the OIC card which is very handy in case one chooses the Portuguese Passport, For South Africans Dual Citizenship is allowed. 

?????? ???????????? ?????? ?????? ???????? ?????????? ???? ???????? ???? ???????? ???? ????????????????. “????’?? ?????? ????????-?????????? ?????????????????????? ???? ?????????????? ???????????? ??????????,” ???????? ??????????????.“A place where not only do dollars really stretch but where the quality of life is high, healthcare is excellent and low-cost, the pace is slow and pleasant and the populace is unendingly welcoming.” Below is the link to the article. https://www.forbes.com/sites/laurabegleybloom/2020/01/02/quit-your-job-and-live-abroad-10-places-so-cheap-you-might-be-able-to-stop-working/#1ad4494291b9

The Portuguese Residency gives you immediate authority to live, work, study or do biz in any of the 26 countries in the Schengen.

The Market - The EU single market with 500 million people is worth USD 20 Trillion. 22 of the 28 EU member states are part of this market. So the opportunity for biz is the access to the largest single market on the planet today. Portugal is the best gateway to the EU.

1. Portugal has been winning the World's Destination Award and Europe's Leading Destination for the last 3 years. In 2018 20 million tourists were counted while the population is around 10 million. The tourism industry is growing in double digits as is the case with the real estate industry. These two are engines of growth pulling the other sectors as well. The overall take on the Portuguese economy by the IMF is very favourable. 

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Elias Mathew Email: [email protected],Whatsapp: +351937253258,Skype: eliasmathew62

Reference https://www.sef.pt/en/pages/conteudo-detalhe.aspx?nID=21