How an investor got a Portugal residence permit during a pandemic
I want to make sure that my children have the freedom to choose where to study, live and work. I want to give them everything that I can. I did not have the opportunity to get a European education or freely travel when I was young. I began to travel around the world only after forty.
Farid, 52 years old
An investor from Algeria
Clients’ names and photos have been changed
This case was provided by our expert
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How an investor got a Portugal residence permit during a pandemic
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Farid’s eldest daughter Imane studied in the UK and planned to work in Europe. Younger children Hakim and Gazala were preparing to enter European universities. Farid remembered how hard it was for Imane to get a residence permit in the UK when she applied to enter the university there. He didn’t want his younger children to face the same difficulties when they entered university.
Farid decided to obtain second citizenship in the EU. An EU passport holder can study, live and work in any EU country without getting additional permissions.
Find out about the solution Immigrant Invest proposed to Farid’s family and the legal support provided at each stage.
Choosing an investment program
Farid contacted Immigrant Invest in April 2021. Before recommending a program, lawyers conducted a preliminary Due Diligence check against international databases containing legal, tax and business information. They wanted to see if they could spot any negative or compromising information on the Internet.
Vladlena Baranova,
Head of Legal & AML Compliance Department, CAMS, IMCM
Our preliminary Due Diligence check showed that the risk of Farid’s application being rejected was minimal. Farid’s financial sources were legal and transparent.
Malta citizenship for exceptional services by direct investment requires expenses of at least 1 mln euros for a family of five. The path did not suit Farid as he had capped his budget at €600,000.
Austria, Spain and Greece allow residents to apply for citizenship after 7—12 years of living in the country. Farid’s family did not want to change their place of residence and move to another country. As a result, the investment programs offered by these three countries also did not suit them.
However, the Portugal Golden Visa Program allows new residents to apply for citizenship without residing permanently. After investing, the Golden Visa holder must spend only 7 days a year in Portugal. After five years, they can qualify for citizenship.
Portugal golden visa is obtained by investing at least €250,000 and allows its holders to get tax benefits, travel in the Schengen visa-free, and claim EU citizenship. Investors are not required to live in Portugal to maintain the status: as long as they spend seven days a year in the country, their residence permit remains valid
One way of obtaining a Portugal Golden Visa is to buy real estate for €500,000. The investor can choose the property themselves. The option suited Farid as he considered purchasing a house in the European Union.
Portugal Golden Visa holders can travel across the Schengen countries freely. Furthermore, the Portuguese passport allows travelling to more than 180 countries visa-free, including the USA, Canada, Japan, Australia, and the UK.
Farid decided to apply for a Portugal Golden Visa. The requirements and benefits suited the family’s goals perfectly.
Portugal citizenship by naturalisation with a Golden Visa
Purchase real estate for €500,000
The investment can be returned in 5 years
Get a Portugal Golden Visa
The visa allows the holder to travel within the Schengen area freely
Maintain residency for 5 years
Golden Visa holders must spend only 7 days a year in Portugal to stay residents
Obtain Portugal citizenship
The passport allows citizens to travel to more than 180 countries visa-free
Results of cooperation
On November 13th, the family received the Portuguese residence permit cards. Farid made plans to celebrate the New Year with the whole family in their new villa in Portugal.
Immigrant Invest’s lawyers continued assisting Farid after the family received their resident permits. The lawyers advised the investor on extending the residence permits and the steps to Portugal citizenship for the whole family.
In 5 years, Hakim and Gazala will be students at European universities, while Imane will have graduated and stayed in the EU. Each member of the family will be an EU citizen.
Immigrant Invest is a licensed agent for government programs in the European Union and the Caribbean.
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