Portugal’s achievements continue to grow. Portugal, as the holder of one of the most powerful passports in the world, was named by Forbes as one of the finest countries for residency and obtaining a Portugal second passport. If you are retired or have a pension of about $1,200 per month, you can easily get residence in Portugal. Begin by obtaining a 120-day visa and visiting the country. Bring the necessary documents, such as a police clearance report and evidence of pension or retirement payouts. You can apply for a one-year temporary residency permit once you’ve established it. This can be renewed for another two years. After five years of temporary residence, you may apply for permanent residency.
Throughout your temporary stay, you should keep your current passport in excellent condition. Your provisional status will be terminated if you have difficulty in your home country.
Portugal’s Second Passport
After 5 years of temporary status in Portugal, you may apply for permanent residency. After 6 years of residence, you may also seek citizenship (including 5 years of temporary status and 1 year of permanent status). A Portugal Second Passport is among the most valued passports accessible. And, given that you may just transfer one million euros to register, it’s one of the most economical for wealthy individuals.
Visa-free or visa-on-arrival users have access to Portuguese nationals in 185 countries across the globe, placing the Portuguese passport fifth in terms of travel flexibility (tied with Austria and Netherlands passports).
Who is Eligible for Portugal’s Second Passport?
The process of obtaining Portugal second passport varies depending on whether you are a citizen of an EU/EFTA nation or a citizen of a country outside the EU. For EU/EFTA nationals, the situation is quite simple.
Residents from non-EU/EFTA countries can likewise benefit from Portuguese nationality law amendments. Portugal modified its citizenship restrictions in 2006, amending the Portuguese Nationality Act to allow non-EU people to apply for Portuguese citizenship after six years of residency, while Portuguese citizenship through marriage is possible after three years.
Other types of immigrants, such as residents of former Portuguese colonies, can get a Portugal second passport sooner.
Contact 7Sky Immigration if You Want to Apply for Portugal Second Passport
If you are qualified for Portugal second passport, you may take advantage of several tax benefits if you apply through the NHR Program. The NHR status entitles you to access social benefits and advantages from both your home country and Portugal, as well as the ability to vote and own real estate, as well as to retain your present citizenship and become a dual citizen.
Leading Company in Offering Portugal Citizenship and Residency Solutions
7Sky Immigration is an international legal immigration consulting firm that offers inclusive Citizenship and Residence services with real estate options for high-net-worth individuals (HNWI), businesspersons, and global families all over the world to provide accessibility, legal and economic security.
Main Requirements
The Golden Resident Permit Program in Portugal is administered by the Ministry of Foreign Affairs Department of Consular Affairs and the Portuguese Trade and Investment Agency (AICEP). Non-EU investors that complete one of the investment options below and fulfill the basic conditions will be granted a residence visa in Portugal under the program:
· You have no criminal record.
· Strong business foundation knowledge
· Strong financial credentials
· Provide evidence that investment money is sourced from outside the country.
· For the first time, enter Portugal with a valid Schengen visa.
· Meet or exceed the required minimum stay.
Advantages of Obtaining Portugal Second Passport Through 7 Sky Immigration
· Possibility of residing in Portugal while the investment is still intact
· All of the advantages of permanent residence, plus
· Travel across the 28 EU member states is unrestricted.
· Consular protection within the European Union
· There are no physical residence restrictions.
· The ability to operate a company, work, live, and study in any EU member state.
· Attractive capital investment tax incentive schemes ‘No double taxation (or reduced tax) arrangements with more than 60 other nations (for more details please see this link)
· Health-care facilities are available across the EU.
· Within the EU, education is either free or at a reduced cost.