The easiest way to expatriate to Europe.
Everyday individuals decide that their lifestyle and wealth would be better suited in more ideal living and fiscal environments. They are packing their bags and seeking a new life in a better place, whether it be financially or personally. Expatriating opens up so many opportunities to grow your wealth, be more comfortable, and get more out of life.
One destination that is growing in popularity for expats is Portugal. Not only does it offer ideal living conditions, it is relatively easy to make the move to this country. Continue reading to learn more about relocating to Portugal. Contact Alpen Partners below to find out how you can make the move!
Portugal is one country that many are flocking to for the ideal climate, beautiful coastline, and great people. The economy is improving and the real estate market is only getting stronger.
In Lisbon, there are nearly 300 days of sunshine throughout the year with a comfortable temperature. Major cities in Portugal are also very safe. In fact, Lisbon has the lowest homicide rate of any European capital city. Both of these factors contribute to an overall high quality of life. The country also has some of the best European beaches, urban forests, recreation facilities, and more!
This ideal living situation is perfect for moving a family abroad or an adventurous retirement!
There a few options for non-EU citizens to benefit from these ideal living situations. One of the most well known of these options is the Golden Visa.
The Golden Visa
The Portuguese Golden Visa is a highly popular route to residency and citizenship in Europe. It is so popular that other European countries, such as Spain, has tried replicating the visa in order to attract investors.
The Golden Visa program was launched in 2012, granting residency to those who invest €500,000 in Portuguese real estate. Currently, the Portuguese real estate market is performing well. The strength of the market is backed by a demand that is rising due to improved economic conditions. In November of 2017, it was recorded that the property prices have risen by 4.84% from the year before to around 1,144 euro per square meter.
The sector is highly developed so it can be fairly easy to find the property that is best for each investor. Whether it is a private home or a hotel or short-term residence, there are properties available and more are developed year round.
To find the right property, investors can seek the help of an agents, online portals that put buyers in touch with sellers, or even through word of mouth.
Real estate investment is not the only way to gain this residency. A second way to earn the Golden Visa is through job creation. With this way, there is no minimum investment amount. The investor must instead create at least ten full time jobs for at least six years or during the duration of the residency period.
The last way to earn the Golden visa is through capital investment. There are four capital investment avenues to choose from: Placing 1 million euros in a bank in Portugal, investing or donating 350,000 euros to an approved research area, investing or donating 250,000 euros to an artistic or cultural activity, or investing 500,000 euros to fund a small business in Portugal.
Not only is it an easy route to residency for an investor, it also extends the resident status to family members including spouse and dependent children. Every two years, the visa holder must renew the visa by simply providing proof they have stayed in the country for at least two weeks in the past two years.
After a resident lives in the country for five years, they can apply for permanent residency or after six years, they can apply for citizenship. One of the best things about the Portuguese Golden Visa is that individuals never have to live in the country to apply for citizenship!
There aren’t many requirements for the program. First, you must keep the investment during the term of your residency. Second, the money that you are placing into the investment needs to come from a source outside of Portugal’s. You must also enter Portugal legally.
Other Residency Options
The Golden Visa isn’t the only way for Non-EU individuals wanting the Portuguese lifestyle. There are other visa options available. Residence visas are required for those who want to stay in Portugal for longer than 90 days out of every 180 days.
There are the typical residence visas such as visas for students and self-employed individuals
The Type 1 visa is for those who want to live in the country permanently. This includes people who want to retire, live independently, open an independent business, set up investments, or establish themselves as independent professionals in their field. This is the most common residence visa for long term visitors or those hoping to seek citizenship.
Relocate with Guidance
Together with respected law firms in various regions of the world, Alpen Partners is advising its clients on expatriation issues. In a world of increasing tax pressure and professional mobility, expatriation has become one of the most efficient tools for asset protection and estate planning. Moving abroad can come along with an abundance of benefits that can affect your taxes, your investment portfolio, cost of living, and your lifestyle. As the cost of traveling becomes cheaper, the benefits of expatriation for financial reasons are more easily obtained.
Taking the leap and leaving your home country can be a big decision with tons of personal and legal steps. The hassle of navigating the legal process of expatriation can be reduced with the guidance of Alpen Partners . Each step requires assistance, including getting the passport, making sure everything is completed correctly regarding taxes, acquiring work permits, making investments, and more. No matter which expatriation route is chosen, it can be a powerful tactic to allow clients to gain better control of their financial and personal lives.