With 1,100 miles of coastline, sun-soaked beaches, and plenty of delicious pasteis de nata to enjoy, Portugal has become the ultimate destination for people seeking a better life. In fact, its residents are at an all-time high.
This is mostly due to its perks, such as a low cost of living and a non-habitual tax regime, which exempts foreign income from taxes for up to ten years.
Invest in Real Estate
The most popular investment option to obtain Portugal’s golden visa program is real estate. This is due to a number of factors, including a growing tourism industry, a competitive rental market, and low property prices. Additionally, Portugal’s tax incentives offer investors significant reductions and exemptions on taxes for a period of ten years.
In addition to real estate, there are other options available to invest in the country, such as the entrepreneur program and the HQA residence permit. Those who choose the entrepreneur route can obtain a residence permit by investing in a business or creating jobs. This option is ideal for those who have a large business and are looking to gain European citizenship while keeping their existing passports.
With the looming law changes, it is crucial for interested individuals to make their applications sooner rather than later. The process can be completed within five months, making it more accessible to high net worth individuals who want to obtain a second residency and citizenship.
Unlike other countries, the Portuguese passport offers visa-free travel to over 187 countries. This is a major benefit for individuals who want to travel extensively with their families, as it allows them to bypass many of the world’s most restrictive visa regimes.
It is also important to note that the Portuguese government requires applicants to pass a due diligence assessment. This is done to ensure that all applicants meet the requirements of the programme. However, if you work with a reputable firm, such as Immigrant Invest, the process is relatively simple and fast. The firm will independently verify all documents and will ensure that the applicant is a good candidate.
Live in a Beautiful Country
Portugal is one of the most beautiful countries in Europe and offers a great quality of life for its residents. From pristine beaches and charming coastal towns to rich cultural heritage, this country has something for everyone. The locals are friendly and welcoming, and the cost of living is lower than in many other parts of the world. For example, you can rent a two-bedroom apartment in Lisbon for about EUR1,000 per month.
Additionally, the climate in Portugal is ideal for people who want to live a healthy lifestyle. Its mild climate allows for outdoor activities all year round. It also has a low level of pollution and is very safe. This makes it an ideal place for families to raise children.
The country is also home to some of the best wines in the world, and it is an excellent destination for oenophiles. In fact, it has taken the seventh spot in a recent survey of the best countries for wine. Its cuisine is also worth a try, with dishes that range from traditional to modern.
Another benefit of moving to Portugal is its proximity to other European cities. It is a short flight or drive away from major destinations like Paris, London, and Rome. You can also travel across the Schengen zone without a visa, which makes it an excellent choice for those who want to explore Europe on a budget.
If you want to move to Portugal, you will need to submit essential documents such as a valid passport or travel ID, proof of identity, marriage certificate (if applicable), and a clean criminal record certificate. You will also need to provide documentation of your financial investments in the country. This could include property deeds, bank statements, or incorporation documents for businesses you have established in Portugal.
Enjoy a Low Tax Rate
Portugal’s low tax rate is a major draw for expats. Compared to the United States, the cost of living in Portugal is much lower. A basket of goods costs about 57 cents in the country, according to World Bank data. Additionally, Portugal’s income tax system is fairly simple and offers a flat 20% rate for personal income. Additionally, property tax is only 0.3% of the value of your home. The country is also known for its excellent healthcare system. In fact, it ranked 12th in the World Health Report of 2020.
However, moving to any country has its challenges. One of the most difficult is learning the language. The vast majority of Portuguese speakers do not speak English fluently, so it can be challenging to navigate the bureaucracy and get things done. Additionally, many Americans find the pace of life in Portugal to be slower than what they are used to.
Overall, the benefits of moving to Portugal far outweigh these obstacles. The country is becoming increasingly popular for retirement, family relocation, and business investment, and it’s easy to see why. With its beautiful beaches, delicious cuisine, soccer culture, lively people, and affordable travel costs, it’s no wonder that Portugal is becoming a top destination for citizens.
By investing in Portugal through the Golden Visa program, you can enjoy a high quality of life, low cost of living, and a tax-efficient environment. Plus, you’ll gain a passport that allows you to travel freely throughout Europe and beyond. In fact, Portugal’s passport is currently ranked 13th in the world for visa-free travel, giving you access to 187 countries and territories. In addition, you can retain your US citizenship and continue to enjoy the freedoms that come with it.
Enjoy a High Quality of Life
Portugal is not only home to beautiful beaches and majestic mountains, but it is also a hub of culture. From delicious salt cod and grilled sardines to its stunning architecture, this country has something for everyone. It has also come a long way since its fascist past, when homosexuality was outlawed and punishable under the Estado Novo regime. The country now ranks seventh in the 2019 Ilga-Europe Rainbow Country Rankings, with a high level of LGBT rights and freedoms.
Another reason why Portugal is becoming a top destination for citizenship is its high quality of life. The country offers top-quality real estate properties, restaurants, and everyday commodities at prices that won’t break the bank. In fact, it was recently named one of the cheapest countries in the world to live in.
Not only can residents enjoy a high quality of life, but they can also benefit from the country’s world-class healthcare system. It was ranked 12th in the World Health Report, and its public hospitals offer free care for foreigners. Moreover, the government is considering expanding its health benefits for Portuguese citizens to include foreigners who reside in the country.
In addition to providing a high quality of life, Portugal is also known for its friendly, welcoming people. It is not uncommon to find locals who treat foreigners like family and offer them help whenever needed. This type of cultural exchange is one of the reasons why so many people fall in love with Portugal.
Enjoy a Safe Environment
If you are a foreigner looking for an easy way to get into Europe, Portugal is one of the most popular destinations. Not only is the country beautiful, but it also offers a high quality of life and affordable living costs. In fact, the country is ranked as Western Europe’s most reasonably priced country, with rents and minimum wages far below what you might expect to pay in the United States. Moreover, meals out at restaurants are surprisingly cheap, with even the most expensive dishes costing no more than two or three euros per person. In addition, the quality of education is very high, and degrees from Portuguese universities are recognised across the EU.
The Portuguese people are also known for being warm and welcoming, making it easy for newcomers to settle in their new home. Furthermore, many locals speak English, which can make it easier for expats to build a network and become part of the community. The country is also very safe, with low crime rates and a strong police presence.
As a result, it is no surprise that the country is quickly becoming a top destination for those seeking to obtain European citizenship. In addition to being a great place to live, it also offers a number of benefits, including visa-free travel to the entire European Union and full freedom of movement within the Schengen zone.
Whether you are interested in investing in real estate, improving your quality of life, or obtaining a passport that will open up the world to you, Portugal has something to offer everyone. By carefully considering the pros and cons of Portugal, you can decide if this captivating country is the right fit for your unique goals and priorities.
