Residence permit in Portugal without work permit
A residence permit without the right to work is considered one of the most popular immigration options for foreigners. This way of moving to the country is relevant among financially independent persons who want to gain experience of living in another country. This method of registration is one of the simplest.
It is possible to obtain citizenship by investing. In the future, after the registration of residence permit in Portugal, there is the possibility of obtaining cohabitation under certain conditions. Learn more about obtaining a residence permit from our experts at IT-OFFSHORE.
Peculiarities of obtaining a residence permit
There are some features of residence permit registration for entrepreneurs. In certain situations, when foreign nationals are planning to invest in the country, the resident visa will be issued after the appropriate inspection. It is necessary to provide the declaration of the applicant, where he or she states his intention to invest as well as indicates the amount of investment and direction. You will need the Articles of Association of the company and proof of investment experience.
To obtain a residence permit for businesspeople, you may need a document that confirms the opening of a bank account in the currency of the Euro. You will need the company's Articles of Association or registration code.
Financially secure individuals and capital investors need a document that confirms the establishment of a bank account in the currency of the Euro. The first deposit is required, which must be at least 12 times the lowest wage in the country. The contribution is made for each family member who is included in the immigration application.
If you live in a temporary residence permit jurisdiction, you can be absent from the country for 6 months or 8 months with interruptions. If a foreign national has lived in Portugal for 5 years, he or she may subsequently apply for permanent residence.
The nuances of investing in real estate
The essence of the program to obtain a residence permit for investment is that when buying real estate, the investor receives a residence permit for him-/herself and his or her family. It is required to own the property for at least 5 years. This program is relevant for those who plan to get visa-free access to the Schengen countries and register citizenship in the European Union.
The investor must be of legal age and have no criminal record. The investment must be from outside Portugal. The obligatory condition is the availability of health insurance for the investor. You can invest from 500 thousand euros to buy any objects within the country, or invest from 350 thousand euros in real estate, also within the country, which requires reconstruction and was built more than 30 years ago.
The advantages of obtaining a residence permit in Portugal are that you can travel to Schengen countries without a visa, there is the prospect of obtaining citizenship and cohabitation, and there are no conditions for permanent residence. In the first 10 years, there is also the possibility of tax benefits.