So, if you ever thought of taking your family out of the United States and to Portugal, this guide would be suited just for you! This is a comprehensive guide on all the relevant facts you should know about relocating to Portugal. Portugal can boast of an excellent and dynamic lifestyle that you may not resist and a safe environment to settle with your children. You might be moving for a job, retirement, or just a change of scenery.
More and more US citizens are in search of new homes where they can bring up their children and spend the sun-set years of lives. Old people of all ages have been choosing Portugal as the best option for retiring. Many perks attract American retirees and their family members to choose Portugal, such as low cost living, beautiful landscape, friendly society, and many historical events. In addition to this, its excellent education system and numerous international schools providing different curricula, including American and British standards, make Portugal a great place for families with children.
Portugal offers several routes to citizenship or a residence card for those that are not citizens of the EU or EEA and wish to move there. The D7 Visa and the Golden Visa are two of the most attractive. Below, I will outline the programs in detail, focusing on special qualities and advantages that will ensure you make a well-informed decision regarding relocation plans. How such a choice can help ensure a stable and fulfilling environment for your family as well as a bright future for you and your children is what it will focus on.
The Residence Permit for Investment Activity, colloquially referred to as the Golden Visa of Portugal, has come into effect in October 2012 with a core purpose of bringing in foreign investors to the country. To date, over €7.5 billion have been raised, and this program boasts of helping Portugal to get out of economic devastation resulting from the 2008 financial crisis. The program is very attractive for those who would want to avail themselves of Portugal’s beautiful scenery, pleasant weather, friendly people, and lower cost of living because it provides a very accessible pathway toward residency and then to citizenship within five years. With its cultural heritage and investment benefits, Portugal is an excellent destination for investors seeking lifestyle and financial benefits.
The Portugal Golden Visa offers various investment opportunities at an affordable price in order to obtain a residence permit, not requiring a minimum annual stay of seven days per year in Portugal and granting visa-free access to the Schengen Area and ultimately, with five to six years leading to Portuguese citizenship. Portugal is known for its safeness and affordability, with great infrastructure, a pleasant climate, good health and education systems, and much more; that’s what makes it an attractive investment destination for investors as well as their families.
In 2007, the government of Portugal introduced a new form of visa-a D7 Visa. This has become popularly known as the Passive Income Visa or Portugal Retirement Visa. Through this visa, any non-EU, non-EEA, or Swiss national with respectable net recurring passive income can apply for residency in Portugal. Pensions, transferable equity, real estate, intellectual property, and financial investments are some of the possible sources for this kind of income.
For one to be qualified for this visa, they are required to have an annual income of at least 8,460 euros in addition to 30% for every child dependent as well as 50% of the total amount for the spouse, regardless of their origin. You and your family will be allowed to legally live in Portugal if you are granted this visa. The idea behind this is to attract seniors as well as other people receiving passive income into coming and staying in Portugal because of its successful campaign to advance its economy. Further, permit holders are not prohibited from carrying out professional activities in Portugal. The Portuguese lifestyle is one of the reasons why many American families want to retire in Portugal: beautiful life and a high quality of life.
For instance, an individual can realize and seize the opportunity of relocation from USA to Portugal with permanent residence that provides all the benefits to be able to fit into life as gained in that country, such as European-standard social security, health care, and education. Being a Permanent Resident in Portugal gives rights to access the country’s nation-wide system of social security. Permanent residents are eligible for general benefits, including old-age pensions, unemployment benefit, and other forms of social assistance; hence, giving individuals and their families a sense of protection and allowing a stable level of life.
Another right is the National Health Service (SNS) of Portugal, which permanent residents can also enjoy by accessing health care services. That means they should receive the same good health care that Portuguese citizens get. With permanent residence, one will no longer need to pay for expensive medical services or to use private healthcare providers.
Another privilege permanent residents in Portugal receive is their education. Parents can send their children to public schools that offer quality instruction according to European norms. With this opportunity, their children will be sure to obtain good education and take advantage of so many other educational options.
Furthermore, Portugal’s permanent residents are allowed to roam the Schengen region. It simply means that they will not need additional visas or permits to visit the rest of the European countries. This works out to provide and open up many avenues for business, play, and cross-cultural interactions within the Schengen region.
Related reading: Learning Portuguese Language
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