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Family Immigration to the EU through a residence permit in Portugal by real estate investment

Alexey Nosovsky

Alexey Nosovsky

A representative of the Legal Department at iWorld. Author of articles on Migration Law.

June 18, 2021

7 minutes read

Coast of Portugal, ideal for immigration to Portugal by investment

Portugal is one of the states that is in high demand among immigrants, seeking to obtain a European passport. Such popularity is due to the country's social and political stability, high level of economic development, favorable climate and relatively low cost of living.

Another important factor, that Portugal offers foreign nationals a convenient opportunity to get a residence permit by investing in the purchase of real estate. This is a good chance to move into the country, without making financial contributions, which later cannot be paid back.

The procedure for obtaining residence status has many nuances, so, it is difficult to handle, without the help of a professional. In addition, a number of steps required the participation of a qualified lawyer. Therefore, there are agencies on the market that provide a comprehensive service of obtaining a Portuguese residence permit, ranging from finding a suitable property to obtaining a residence permit.

If you read the cases of clients on the websites of companies Migronis and Immigrant Invest, which have high credibility in their field, you can see how their employees analyze the request and the needs of the client to offer them several options for the best solution of the problem. It is noteworthy, that in both cases, the families chose Portugal as the most appropriate country to move to.

A businessman discusses the conditions for obtaining a residence permit in Portugal for investment

The Migronis case describes a situation, where a Kazakh businessman, who has to travel frequently to the Schengen area, needs a European country residence status, which allows him to do his business without the visa. In addition, the wife and children of the entrepreneur wanted to get the citizenship of the European Union in the future.

The company experts suggested three countries to the client for a residence permit processing - Greece, Malta and Portugal. The businessman chose Portugal, because it does not impose any requirements regarding the duration of stay in the country, as it does in Greece. The level of costs for obtaining a Portuguese residence permit is lower than the cost of obtaining a Maltese residence permit. An important argument in favor of Portugal was the ability to let the acquired property, and later get rid of it, preserving the status of a resident — the Maltese program does not cover all of this. The description of the case gives the opinion of an expert, who argues, that the purchase of Portuguese real estate, according to research by Standard & Poor’s, is an extremely promising investment. 

The investor in the office shakes hands in a sign of agreement on obtaining Portuguese residency by investment

The website of Immigrant Invest provides a detailed description of the case, requested by a family from Kazakhstan, seeking to obtain a residence permit in a Western European country.

The husband, a shareholder of several large companies, and his wife, a practicing psychologist, and their three children aged 12 to 29 want to apply for residency in a European country with a mild climate and comfortable living conditions. It is important for the applicants to avoid double taxation so as not to lose part of the income from the shares, as well as to be allowed to visit different EU countries freely, since both spouses plan to be there regularly on business trips.

The wife decided to open her own psychological center in the new country of residence, and the two youngest children are considering entering higher education. The company's lawyers offered clients a choice of immigration programs in Cyprus, Malta, Spain and Portugal. Cyprus and Malta were not suitable because of the too high amount of non-refundable investments, in addition, the wife wanted to live on the mainland to travel around the EU by car. Spain was rejected by the family because of its tax policy, so the customers have chosen Portugal as an option, that best meets their needs and financial capacities.

According to the Portuguese legislation, the applicant for a visa must invest in the purchase of real estate of 500,000 EUR, and if it comes to the purchase of the cultural and historical object under restoration, the amount of investment is reduced to 350,000 EUR. However, attention to detail is important, when drawing up documents. For example, in the practice of the company Immigrant Invest, there has been a case of the son, who had been a participant in the program as an investor at the age of 24. According to legal requirements, he is entitled to a residence permit as a family member of the main applicant. However, after 2 years, the card will expire and will need to be extended - at that point, the young man will be 26 years old, and he will no longer meet the immigration conditions. The lawyers solved this issue by listing the son among the investors, and this point provides a good example of how important it is to have the help of a qualified specialist, when applying for a residence permit. The example of Migronis, which ensured that the client received the status of a resident of Portugal in just 3 months, supports this statement.

Portuguese city on the coast, where you can apply for a residence permit in Portugal for investment through the purchase of housing

Solving any immigration issue is an extremely serious and responsible task, requiring a certain experience and professional qualifications. Trying to handle it on their own, an unprepared person risks getting rejected or going beyond their financial means. Given the high importance of the goals pursued in such situations, you should not expose yourself to unnecessary risk. That is why having companies such as Migronis and Immigrant Invest on the market is very important - the participation in the immigration procedure of an experienced lawyer helps the client to minimize any risks and get the result that best meets his expectations.

Sources: websites Migronis and Immigrant Invest

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