A foreign entrepreneur that starts up an innovative business with a projected value of assets or annual turnover of at least €325,000 to be reached in five years gets a residence permit in Portugal.
A work visa for Portugal unlocks the route to obtaining a residence permit. A prerequisite for it is a valid contract with a Portuguese company.
A foreigner residing for five years in Portugal may make an application to obtain a Portuguese passport. Portugal offers one of the fastest tracks to naturalisation in the EU.
The Portuguese government grants a residence permit for purchasing property to be renovated starting at €350,000, or any property starting at €500,000.
Portugal is one of the most affordable countries to move to in Europe. Portugal imposes minimum requirements for obtaining a residence permit, and the local authorities are favourably disposed to attracting expatriates.
Moving to Portugal is an easy task for wealthy foreigners that just need to buy or rent housing and prove sufficient subsistence funds in the bank. The immigration programme for the financially independent is simple and accessible for many.
The Schengen visa for Portugal follows the Schengen countries’ general requirements: the documentation package is the same for all parties to the agreement. It is a short-term С-type visa valid for up to 90 days within six months.
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Property maintenance in Portugal is cheaper than in countries like the UK and USA. For example, it costs about €2,000 per year to maintain an apartment in Lisbon and about €4,000 for a three-bedroom villa in Faro.
Buying property in Portugal is relatively simple as the country has an open attitude to foreign buyers in the form of a preferential tax regime, Golden Visa programme and no restrictions what the type of property a non-resident can buy.
The advantages of education in Portugal include affordable living expenses, good infrastructure and a wide range of academic programmes.
Portugal has an attractive tax system. Taxes are generally lower than in other European countries and there is an exceptional tax regime for certain tax residents that considerably reduces expenses associated with business and other activities.
Foreign nationals are able to obtain mortgage loans to buy real estate in Portugal on favourable terms. The lowest interest rates are less than 3%, and local banks issue loans for both newly-built and existing property.