About 10 million Americans departed the country either temporarily or permanently in 2020, stated the US State Department. That is more than twice as many individuals who relocated abroad two years ago.
This blog post will walk you through the advantages and procedures of relocating to Portugal as an American.
Life in Portugal
You might find the idea of relocating to Portugal intimidating. And you’re undoubtedly wondering: How’s life in Portugal?
You can immediately understand why Portugal is so well-liked by expats once you arrive there.
Who doesn’t adore the country’s moderate weather, expansive beaches, golf courses, and unmatched natural beauty?
Cities have a village-like appearance and are timeless places with a rich cultural heritage. A logical decision for anyone relocating to Portugal is the Portuguese’s genuinely pleasant nature and tranquility.
The nation’s citizens enjoy large tax benefits, low crime rates, high standards of education and healthcare, and pleasant living conditions.
Even though Portuguese people generally speak good English, it is still advisable to learn the fundamentals if you plan to say in Portugal for an extended period.
How to move to Portugal from the USA
As an American residing in Portugal, there are a few things you ought to be aware of. You must have a Portuguese resident permit in order to remain and reside there.
This can be gained by working there, enrolling in a long-term course of study, getting married to a Portuguese national, or making investments through the Portugal Golden Visa Program in the country’s economy.
The Portugal golden Visa Process
You will require a visa to establish your residence as an American citizen. The following are some top common visa choices:
- Golden Visa
- D7 Visa
- Schengen Visa
At Golden Port Visa, we specialize in the Portugal Golden Visa, a residency by investment scheme via Golden Visa open to non-EU nationals.
The program, which was introduced in 2012, provides participants with a variety of investment options, including:
- Purchase a residential property in one of Portugal’s designated interior regions for at least €500,000 or €350,000. A 20% discount will be applied to your investment if it is in a rehabilitation project that is located in a low-density area.
- Transfer at least €1.5 million in capital.
- Contribute at least €500,000 to scientific or technological research.
- Donate at least €250,000 to the arts or the restoration of national heritage.
- Company formation with the creation of ten employees and a minimum investment of €500,000.
Benefits of the Portugal Golden Visa
A financial investment in Portugal required receiving the Portugal Golden Visa. Investors looking to purchase property in Portugal in 2022 have found the residence by real estate investment program to be appealing. The program’s benefits include:
- The right to reunite families.
- Schengen Area travels without a visa.
- Permission to go to Portugal for at least one week during the first year and at least two weeks during the succeeding years in order to live, work, and study there.
- You are eligible to seek for citizenship and permanent residence after five years.
Time Application Process
Depending on how busy the immigration offices are at the time, the processing and issuance of new GV applications may take some time.
Nevertheless, you could anticipate a 4- to 12-month delay. Therefore, if you intend to apply for the Portugal Golden Visa, we suggest doing so right away.
For those interested in the Golden Visa Program, Portugal provides a variety of investment opportunities. The investments you can choose from are listed below.
- Investment in real estate: €280,000 to €500,000
- Minimum investment fund size: €500,000
- Transfer of capital: €1.5 million
- Job creation: Either invest €500,000 in an existing Portuguese business and generate a minimum of 5 full-time jobs, or create at least 10 new full-time jobs in a Portuguese business.
Because certain properties offer guaranteed rental income, real estate investing is the most popular choice among investors and businesspeople because it allows you to earn money while you wait to become a Portuguese citizen.
Stage II—Temporary residency (3—12th months)
Your family members who meet the requirements can live and work in Portugal with the help of a residence permit, which also grants them the freedom to travel the EU without a visa.
The residency card does not grant the right to live and work outside of Portugal.
The opportunity to apply for citizenship at the end of the five-year period is the most alluring feature of the Portugal Golden Visa.
You must remain in the nation for one week in the first year and two weeks in each subsequent year to keep your resident status.
Stage III—Citizenship/Permanent residency (6th year)
You and your dependents are eligible for Portuguese citizenship or permanent residency after five years. You are now free to travel between any two Schengen Area nations and live, work, and study there.
How to find the right property in Portugal
It might be challenging to travel alone, especially if you don’t understand the language or have a reliable partner in Portugal.
Moving is a difficult DIY job to complete. Golden Port Visa can help you with all the necessary legal papers, finding the perfect home, and, most importantly, navigating the local red tape.
In this article, “Buying homes in Portugal,” you can find out more about the full process of purchasing real estate in Portugal.
Education in Portugal
One third of the population of Portugal speaks English, and the country’s citizens are well educated. Because English is taught extensively in Portugal’s public and private schools, the rate is higher among younger generations, especially those under 25.
As was previously noted, the huge demand may cause a delay in GV applications. Since you might desire to arrive in Portugal before September, when sessions begin in the middle of the month, we advise organizing your application.
How can Golden Port Visa help you?
Moving to Portugal is the most thrilling journey you will ever take! Golden Port Visa is here to help you with every step. We are your dependable Portuguese partner who will assist you in accomplishing your relocation goal; we are more than just an immigration consultancy.
Our area of expertise is helping people invest in real estate and obtain residency in Portugal. Get in touch with us to arrange a free call or learn more about the program.
