Portuguese residence permit for the whole family. The property in the Azores is suitable for participation in a residence permit programme in Portugal by investment.
Spouse, children up to 26 years old, and parents over 65 years old can participate with the investor.
Holders of Portuguese residence permit cards can live, study, work and conduct business in the country without restrictions. After five years, the investor can apply for citizenship and obtain an EU passport.
Visa-free travel. With a residence permit card in Portugal, you can travel freely to any Schengen country. Staying in the chosen regional state without a visa is allowed for 90 days in a six-month period.
Portuguese nationals have even more visa-free travel options. The country’s passport enables entry to 188 countries, including the Schengen Area, the UK, Japan, Hong Kong, and Singapore. To travel to the USA and Canada, an electronic entry permit is sufficient.
Tax optimization. If an investor spends 183 days a year in Portugal and becomes a tax resident, they will be able to apply for a preferential status – Non-Habitual Resident. The status is granted for 10 years. It exempts the investor from paying taxes on worldwide income and sets a flat tax rate on income from employment and pension payments.
European education. Portuguese schools are open to all nationals and residents. The Manuel de Arriaga School in Orta is the oldest in the Azores but one of the best equipped in Europe. The school has 36 classrooms, seven laboratories, two computer labs, six workshops, a gymnasium, and a 25-meter heated swimming pool.
The best university in the region is the public University of the Azores, Universidade dos Açores (UAC). The tuition fee for the university is €3000, per year.
A liquid asset and a passive income. Property prices in Portugal rise by an average of 7% each year. The Azores often lead the way in price growth among the country’s regions. In 2019, for example, property prices on the islands increased by 4.1% and in the capital Lisbon by 2.7%.
Participants in the residence permit by investment programme have owned the property for a minimum of five years. During this time, they can rent out the property and earn an income of between 3 and 7% per annum. After five years, the property can be sold and the money invested can be repaid at a profit due to an increase in the price of the property.
We talked about all the benefits of the programme in the article What a cosmopolitan residence permit in Portugal brings.
Immigrant Invest is a licensed agent for Portugal’s residence permit programme by investment. If you want to become a resident of the European Union state through the purchase of real estate, seek advice from experts in investment programmes.
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