More and more high-net-worth individuals from the Middle East and beyond are starting to invest in a second citizenship. A chance like this opens the door to new opportunities and advantages that their home country might not offer.
The freedom to travel the globe, in particular, is the biggest reason people are seeking a second passport. And while researching on which second passport provides the most benefits, your research will confirm that the Portugal passport is one of the best options out there.
This article explores how you can benefit from holding a Portugal passport, as well as looking at the visa-free countries list on our website and how to obtain Portuguese citizenship through the country’s Residency by Investment (RBI) program.
In This Article:
- Why obtain a Portugal passport?
- Which countries can you travel to?
- What can you do with a Portuguese passport?
- Obtaining Portuguese citizenship via Residency by Investment
- Book a free consultation
Why Obtain A Portugal Passport?
Besides being ranked as the world’s third safest country in the 2020 Global Peace Index and consistently being named one of the top locations for retirement and immigration by trustworthy surveys and lists, like Live and Invest Overseas annual index, Portugal’s most appealing quality is perhaps the strength of its passport.
The Portugal passport is ranked as the sixth most powerful passport in the world for its ability to facilitate global mobility without a visa or with visa-on-arrival to 191 countries and territories worldwide.
Portuguese passport holders enjoy visa-free travel to countries such as the United States, the United Arab Emirates, Japan, Australia and many more.
This, of course, includes the Schengen Area countries, which Portuguese citizens have the right to travel freely through without restrictions, as the country is part of the European Union (EU).
Which Countries Can You Travel To?
Being an EU member state, Portuguese citizens are automatically categorised as EU citizens and are granted visa-free or visa-on-arrival travel to over 191 countries and territories around the globe, including the Schengen Area, the USA, Singapore and Hong Kong.
What Can You Do With A Portuguese Passport?
In addition to global mobility, being a Portuguese citizen offers many benefits and opportunities to non-European nationals, including:
- EU Citizenship: Gain the right to study, work, live and retire in any EU country.
- Consular Protection: As a citizen of Portugal, you are also considered a citizen of the EU and, therefore, have the right to consular protection from any EU-member state consulate anywhere in the world.
- Portuguese Citizenship for Life: Once citizenship is obtained, you’ll be Portuguese national for life and can pass it down to future generations.
- Healthcare And Education: You and your loved ones will have free access to quality healthcare and education systems throughout Portugal and the EU.
- High Quality Of Life: Portuguese citizens enjoy a safe, stable country with a vibrant culture, beautiful scenery, clean beaches, low cost of living and year-round warm weather.
- Business Opportunities: Entrepreneurs and business people will have access to the world’s largest single economy in Europe.
One of the interesting facts about Portugal is that the country is investing heavily in renewable energy.
Obtaining Portuguese Citizenship Via Residency by Investment
Unlike its European counterparts Turkey and Montenegro, Portugal does not offer a Citizenship by Investment program that directly issues naturalisation to foreign nationals in exchange for investing in the country.
You Might Also Like: Montenegro Citizenship Through Real Estate Investment
However, there is another path to Portuguese citizenship via the country’s Residency by Investment program, also known as the Golden Visa program. This means that in exchange for making a qualifying investment in Portugal, individuals will be granted a residence permit that allows them to live, work and study in the country.
By fulfilling minimal requirements, you may be eligible for a Portuguese citizenship after 5 years of holding your residency.
After holding residency for 5 years – in which 7 days per year must be spent in Portugal – individuals are then eligible to apply for citizenship. All they need to do is successfully pass an A2 Portuguese Language test, have no unpaid taxes in Portugal and possess a clean criminal record in their home country.
If all requirements are met, individuals will be granted full Portuguese citizenship and the accompanying passport.
Qualifying Investment Options
- Paying a Capital Transfer of at least EUR 1 million.
- Generating 10 new jobs for a Portuguese business or single-member company (reduced to 8 positions if in a low-density area).
- Investing EUR 500,000 in real estate. This is reduced to EUR 400,000 if located in a low-density area.
- Investing EUR 350,000 in a real estate rehabilitation project. This is reduced to EUR 280,000 if located in a low-density area.
- Investing EUR 350,000 into private equity funds.
- Invest at least EUR 350,000 into an existing Portuguese business.
- Invest EUR 250,000 into national heritage preservation.
- EUR 350,000 investment into research.
According to its Economy Minister, Portugal’s economic recovery has been fast and strong since it started easing its COVID-19 lockdown in March, and growth this year may exceed the government’s forecast of 4%.
Golden Visa Program Requirements
- Be over 18 years of age
- Must be a non-EU/EEA country citizen
- Possess a clean criminal record
- Hold a valid medical insurance and health certificate
- Have enough funds to live in the country
- Make a qualifying investment and maintain it for 5 to 10 years, depending on the chose option
- Successfully pass due diligence checks
- Must be of good character
Book A Free Consultation
When seeking permanent residency in Portugal, be sure to render the services of an accredited and recognised advisor, like Savory & Partners.
When choosing us as your partner on this journey, you can be assured that you are in safe and capable hands. Savory & Partners is a long-standing and well-respected authorized agent that specializes in helping high-net-worth individuals secure citizenship and residency through investment for themselves and their dependents.
The Savory & Partners team is made up of a diverse group of industry experts who span over 15 nationalities, speak over 25 languages collectively, and come with decades of accumulated CBI and RBI industry experience. Our level of expertise and competence combined with our commitment to serving our clients with the highest level of professionalism and transparency has led us to aid over 1,100 families obtain a second passport with a 100% success rate. There is no one better positioned and more trustworthy than Savory & Partners when seeking the best results on your quest to secure a better future for yourself and your family.
If you would like to apply to the Portugal Golden Visa program or would like to learn more, get in contact with us today for a free online consultation and one of our skilled agents will happily aid you in your enquiry.
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