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04.8.2024

How to Move to Portugal for Permanent Residency


Portugal – The Ideal Country for Residency

Portugal is home to many foreigners, particularly from Central Europe and North America. They are attracted by the mild climate, low cost of living, and the friendliness of the local population. Many foreigners not only enjoy traveling to Portugal but also choose to settle permanently in this wonderful country.

 

A Resort on the Atlantic Ocean

Portugal is especially popular among citizens of the EU and North America. Located within the safe boundaries of the European Union, Portugal offers a mild subtropical climate: thanks to the ocean, it’s not too hot in the summer and not too cold in the winter. For the residents of foggy England or chilly Norway, there is no better place to be found.

Portugal is not an island, making it easy to reach by train, car, and, of course, airplane – budget airlines will bring you to the Atlantic Ocean from any European country. Europeans can even take a “weekend tour” to Portugal.

In addition to the climate, tourists are drawn to the delicious and affordable cuisine of Portugal – you will find here a wide range of dishes: different fish, seafood, meat, including beef, and a vast selection of cheeses.

It is customary for locals to enjoy their meals with wine, and tourists eagerly adopt this pleasant tradition. There are no bad wines in Portugal – even a cheap drink has an exquisite taste and aroma.

Life in this country is unhurried, and even in large cities, there is no characteristic hustle and bustle – a measured and calm life prevails here instead. Your safety is guaranteed by friendly yet firm police officers. Moreover, Portugal boasts an excellent ecology and wonderful people.

On the shores of the Atlantic Ocean vacationers can enjoy luxurious beaches, numerous restaurants, cafes, shops, and entertainment centers, all with European-quality service.

In such a paradise people are reluctant to leave, and many choose to stay – first for a short while and then permanently: foreigners become residents and acquire citizenship.

Assistance from Lawyers in Portugal

The Portuguese have a long history as sailors and traders, and they are very tolerant toward foreigners. The government’s policy is focused on attracting as many foreigners and their investments as possible. Unlike other EU countries, it is relatively easy to obtain citizenship in Portugal, making it a popular choice for immigration.

Portuguese legislation provides numerous grounds for obtaining residency. Experienced lawyers can always find a way to legalize any category of citizen – whether an investor, student, pensioner, volunteer, self-employed professional, blue-collar worker, or highly skilled specialist.

It should be noted that foreigners often complain about the bureaucracy of local institutions and the slow document processing. For example, one foreigner mentioned that it took her 5 months and 28 days to reissue her driver’s license (the legislation allows up to 6 months for this procedure). Therefore, foreigners typically turn to lawyers to monitor document timelines and liaise with officials. Navigating this process alone, especially without knowledge of the Portuguese language, is quite challenging. By the way, English is spoken mainly in large cities and not by everyone.

These challenges can be avoided by choosing the right legal company to provide comprehensive support for your case. One such law firm is First Legal Portugal, which has been operating in Portugal since 2008, founded by experienced attorneys, financiers, and accountants.

First Legal Portugal offers assistance with virtually all legal and accounting issues – for both Portuguese citizens and non-residents. You can receive all the necessary services for obtaining a visa or purchasing real estate.

According to the employees of this legal company, the Portuguese real estate market is currently particularly active with citizens from the UK, Germany, Belgium, the Netherlands, and France. There are also many interested investors from the USA and Canada.
Foreigners stimulate the local market, causing real estate prices to steadily rise year by year. Therefore, buying property here is advantageous.

After purchasing a house in Portugal, foreigners often use it as a vacation home to visit during holidays or weekends. Some rent out their property long-term and make good money from it. Upon retirement, they move into their Portuguese home and enjoy the benefits of resort living.

Visas in Portugal – From D1 to D8

There are several types of Portuguese visas, from D1 to D8, each targeting a specific category of people or their field of activity. Additionally, there are visas for different groups of entrepreneurs – the Green Visa and StartUp Visa.

Recently, Portugal canceled the “Golden Visa” for property purchases, but other options remain available. For instance, foreigners can invest in investment funds, which operate on the principle of diversification, distributing capital across various assets. This reduces risk compared to investing in individual stocks or bonds. However, it is still advisable to consult a financial expert who knows the local market well.

Additionally, the “Golden Visa” is available to foreigners who have invested in Portuguese economic enterprises, renewable energy, scientific research, innovative, and cultural projects.

Since wages in the country are not as high as in France or Germany, there is an opportunity to save on labor costs.
For entrepreneurs working in technological sectors, the government has introduced a special startup visa: to obtain it, you need to establish such a company in Portugal or transfer it from another country. Moreover, you can receive a grant from European funds for developing your startup company. Furthermore, to encourage new businesses, the government offers certain tax advantages.

Relocation to Portugal is also a common practice for people who work remotely.

This is beneficial in terms of the cost of living and legalization opportunities.

Another trend is the relocation of businesses from Ukraine, where there is an ongoing conflict. Ukrainians often prefer Portugal because the country’s legislation is extremely liberal towards foreigners, even those from outside the EU. In particular, you can obtain a residence permit by starting a business here.

Portugal also has a special pension program, under which you can obtain a residence permit if you have a stable income, such as from entrepreneurial activities, renting out property, or pension payments.

How to Move to Portugal and Obtain a Visa for Relocation and Residency Permit

Portugal offers a variety of visas that cater to different needs and applicant profiles. Here are the main types of visas and the requirements for obtaining them:

  1. For Employees – Visa D1 (Work Visa in Portugal):
    You must obtain a job offer from a Portuguese company.
  2. For Entrepreneurs – Visa D2 (Entrepreneur Visa Portugal):
    You need to open a company or register as a sole proprietor in Portugal.
  3. For Startup Founders – Startup Visa in Portugal:
    You must establish or transfer an existing startup to Portugal. The project must be approved by an accredited business incubator and the Agency for Competitiveness and Innovation (IAPMEI).
  4. For Highly Qualified Specialists – HQA Visa D3:
    You must possess a high level of qualification and obtain a job offer from a Portuguese company with a salary of at least €1500 per month. A diploma of higher professional education confirms your higher qualification.
  5. For Students, Interns, and Volunteers – Visas D4 and Visas D5: You must study at a Portuguese university, undergo an internship, work as a volunteer, arrive at the university for an exchange program, or transfer from another university.
  6. For Family Members of the Applicant – Visa D6 Family reunification Visa in Portugal:
    You must provide documents confirming familial ties.
  7. For Financially Independent Individuals – Visa D7 in Portugal:
    You must receive a stable passive income of at least €820 per month (such as a pension, dividends, or rental income).
  8. For Freelancers and Remote Workers – Visa D8 Digital Nomad Visa in Portugal:
    You need to earn income from remote work of at least €3280 per month

 

The Cost of Living in Portugal is Pleasantly Surprising

In addition to its healing climate and warm sea, Portugal has another significant advantage over other EU countries – the cost of living here is considerably lower. Therefore, you can afford more for less money. This attracts both Americans and Europeans.

According to the latest (2024) “City Costs Barometer” ranking compiled by the British postal company Post Office, Lisbon (Portugal) ranked second among the cheapest cities in Europe, with Vilnius (Lithuania) taking the top spot. Experts evaluated the price-quality ratio of 12 typical tourist expenses in 37 European cities, considering criteria such as accommodation, public transportation, cultural programs, beverage variety, and dinner for two with a bottle of wine.

In the “50 Best Cities in the World – 2024” ranking by the international travel and lifestyle guide Time Out, Lisbon occupies the 12th position, while Porto ranks even higher at tenth. Experts described Porto as a “wonderful city for romance.” New York (USA) took first place on the list. The ranking considered the quality and availability of food, culture, and nightlife. Indeed, the Portuguese know how to enjoy their time, and food here is cheaper than in neighboring countries.

Thus, Portugal remains one of the most desirable countries in the European Union for relocation and residence.


04.8.2024

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