Portugal is known for having a thriving environment for startups and entrepreneurs, with its innovation, talent, support network, creative and tech hubs, accelerators, and strategic location in Europe and in the world. From high-tech to low-tech, the opportunities arising from the friendly eco-system and the resilient and growing economy have been attracting investment and people from across the globe. While more commonly a country that exported talent, over the years it has been able to place itself in the spotlight, making it a very desirable destination for foreigners and once again for born citizens.
Not only does Portugal foster exciting business opportunities, but it also offers a high quality of life, blending heritage, landscape, weather, gastronomy, and quality of education. Despite the increasing demand for real estate, the overall cost of living remains highly competitive when compared to other countries. The numbers speak for themselves: it is estimated that approximately 800.000 foreigners choose Portugal and are legal residents.
For those belonging to the over 65% coming from outside Europe, the myriad of challenges is increased, with many lacking a strategy tailored to their business and personal needs. Guaranteeing that the initial steps are taken clearly and swiftly is fundamental. Great ideas with poor execution don’t work if you want to start a new challenge or life in another country.
Portugal has multiple residence programs for immigrants that can fit almost all according to each case’s demands, budget-wise and lifestyle.
One of the most popular ones is the Golden Visa and contrary to what many might have heard, it’s still very much alive. Although the program was adjusted very recently and no longer allows for real estate investment, other options are still available.
The most popular is investing 500.000 € in an investment fund, and even if there are several options available, knowing the ones eligible and in full compliance with the latest law is crucial.
This visa will grant the right to start a business, to live, work and study in Portugal, allowing for full mobility across the Schengen Area and leading to permanent residence and citizenship, with the added advantage of only 7 days of mandatory stay per year.
It’s the perfect solution for those who want flexibility and at the same time have full access to what Portugal has to offer, with the possibility of having a return on a transparent investment that is under the supervision of the Portuguese Regulator.
For those who have a smaller budget but still want to create a company and develop a business, the D2 Entrepreneur Visa is a great option, with no minimum amount of investment. While the applicant rights remain almost the same, the minimum stay might be an additional burden for many, as it is mandatory to spend at least 183 consecutive days or 8 nonconsecutive months per year.
Similar requirements also apply to the D7 Visa, the option for retired or those living on their income. The greatest advantage of this program is the simpler eligibility, relying on achieving a certain threshold of passive income, making the process faster and allowing for an investment decision only after you successfully relocated.
Individuals remotely employed and not looking to be entrepreneurs in Portugal but who still want a slice of the country’s experience can go for Digital Nomad. If the average monthly salary is 4 times greater than the legal minimum, a temporary stay or residence is possible.
If all this kept you thinking, Globevisa is your partner of choice. With a worldwide presence spread across 39 offices, comprising a staff of 800 professionals with multiple backgrounds and experience, they are available 24/7 to guide and advise you accordingly.
From the first call to the final steps of the process, their dedicated office in Portugal will cater for you with unparallel customer care and a clear and hassle-free process, access to multiple partners and our in-house lawyers guaranteeing the best legal support throughout your journey, so that even the most challenging cases are served like no other, with absolute privacy and security.
Even if you aren’t considering Portugal, Globevisa has more than 300 programs. If you think about the global citizen lifestyle, they will help. More than 150.000 thousand clients from over 96 countries and regions have chosen them.
Feel free to contact Globevisa’s Portugal Office if you need professional advice:
- Spokesperson: Francisco Vale
- Email: franciscovale@globevisa.com
- Phone number: +351915027425
- Address: Avenida Eng. Duarte Pacheco – Nº 19, 3ºD, 1070-100, Lisboa, Portugal
Read the orginal article: https://www.eu-startups.com/2023/12/from-golden-visas-to-digital-nomads-globevisas-guide-to-unlock-portugals-full-potential-sponsored/
