Permanent residence of Portugal

What is a residence permit and permanent residence in Portugal and Europe: rights, obligations, comparison

Residence permit, permanent residence, citizenship – for most people who are not particularly interested in the problems of moving and naturalization in another country these terms are rather vague. Temporary and permanent residence permits are two different statuses, which must be obtained in a certain order, as well as subsequent citizenship, which for many is the ultimate goal of applying to our company.

What status of permanent residence and a residence permit in Europe do you need? Which country is better for its registration? What are the characteristics of each document? What do they enjoin and what rights do they give to their owners? Where is it possible and impossible to obtain dual citizenship?

These and many other issues related to a residence permit and permanent residence in Europe are of interest for many of our fellow citizens. We try to answer these questions as clearly as possible in order to help you decide on the choice of one or another way of integration into the EU countries.

Residence permit

What is a residence permit card and why shall it be issued firstly? With the help of this card the relevant authorities can identify a person who has the right for temporary residence and stay within the territory of the European country.

Typically, a residence permit card is issued for 12 months with the possibility of its subsequent prolongation, however, in some countries it can be obtained once for five years until the next status is obtained. The card differs from a visa in the fact that it has a longer validity period and it allows you to cross the borders of the EU countries an unlimited number of times.

Currently there are quite a few ways to obtain such a status in the EU countries:

1. By establishing your own company;
2. Through marriage with a resident of the country;
3. When concluding an employment contract with a foreign employer;
4. For family reunification;
5. When obtaining higher education in Europe;
6. For implementation of scientific, cultural and research activities;
7. When performing diplomatic missions and so on.

One of the best options for many applicants for future citizenship is the residence permit program through investment.

Today such programs have been adopted by many European countries, and they have perfectly shown their efficiency in terms of influencing the local economy.

What is meant by a residence permit through investment?

You choose and buy one or more real estate objects for a certain amount. For example, in Portugal it is necessary to have the amount starting from €350,000 or even a little less (it is subject to certain conditions). Those wishing to obtain a Spanish passport in the future must be prepared to pay at least €500,000 for real estate objects, invest in the purchase of government bonds (starting from €2 million) or open a deposit in one of the state banks (starting from €1 million).

Applicants for Greek citizenship need to purchase real estate objects by investing the amount starting from €250,000, while a residence permit in this country is issued only 3-4 weeks after the transaction. In addition, you can show that you have enough money in your Greek bank accounts to be financially independent.

Those wishing to obtain British citizenship in the future must have at least £2 million to invest. Currently, however, the program is in a frozen state due to the Brexit, the country has not yet decided whether the program will be resumed and under what conditions.

If you confirm your financial stability and independence, you may well get an Austrian residence permit. It is necessary to have at least €60,000 in local bank accounts, as well as to use free quota places allocated by the government annually.

In Malta, for example, the status is issued the same way. The first expenses are about €30,000, after which you need to maintain your status annually by paying about €9,000. In Switzerland, the status is issued through the payment of tax deductions, the amount of which last year reached 250,000 francs.

What is the difference between an ordinary residence permit and an investment one? The difference is exclusively in the conditions of its registration, as well as the requirements for permanent residence within the territory. In the first case, it is necessary to confirm knowledge of the language and basics of history.

It is required to confirm financial independence and provide data on non-conviction. An ordinary residence permit applies only to the applicant and does not apply to members of his or her family. The most important requirement is to stay in the country for at least six months annually.

The investment option of naturalization implies confirmation of financial independence and the provision of data on non-conviction, but at the same time you do not need to pass an exam, it is possible to obtain a status for each family member and the minimum period of residence within the territory can be only a week annually.

Obligations of the applicant are similar in both the first and second cases. It is necessary to obtain a certain type of medical insurance, register at the place of residence and regularly pay tax deductions. The status shall be prolonged after a certain period, and the documents shall be submitted in advance.

The rights guaranteed by the status:

1. Crossing the borders of the country and travel within the European Union without any additional visas;
2. Possibility of free acquisition of real estate objects, their lease;
3. Obtaining high-quality medical care;
4. Registration of driver’s documents of the European standard;
5. Purchase of vehicles;
6. Obtaining high-quality education.

After five years (in some cases the period may be longer), you can count on obtaining a permanent residence status and subsequent naturalization upon obtaining a passport.

Are there any restrictions imposed by the status of a temporary residence permit? Definitely, and the main one is the impossibility of official employment for Golden Visa holders. Ordinary job seekers can be employed, but you will need to execute additional documents and obtain the necessary permits from the relevant authorities.

Holders of investment visas can engage in entrepreneurial activities and businesses. The rights guaranteed by the status of a residence permit are valid only in the territory of the country where you obtained it.

You can travel around the European Union without any problems, but it is not possible to buy real estate objects or a car there. Technically, it is possible to purchase real estate objects, but their use will be fully implemented only after obtaining citizenship.

You should think about applying for a temporary residence permit if:

• You want to obtain a status that allows you to permanently reside in the territory of the EU country and obtain a passport in the future;

• You want to have a “fallback option” in a quiet and prosperous country of Europe, where you can move if necessary;

• You need to move to one of the EU countries for permanent residence (retirement, for example);

• You are not satisfied with the taxes in your country and you wish to pay less in Europe.

Permanent residence permit

The permanent residence permit status card in the European Union practically does not differ in terms of the granted rights from official citizenship and is an important step in naturalization. The holder of this status has the same rights and obligations as the natives with a few exceptions.

Obtaining the status under the standard procedure involves the applicant’s residence in the country for at least a five-year period of time. This time period differs in different countries: a permanent residence of Switzerland can be obtained not earlier than in ten years, for example.

To obtain the status it is necessary to regularly prolong a temporary residence permit. It is important to remember that the status that allows permanent residence in the country is issued strictly on an individual basis. You cannot obtain it for your wife or husband, who must obtain it personally.

Permanent residence permit in Europe through investment

Until recently there were two programs in the European Union with the help of which it was possible to immediately obtain a permanent residence status directly, without obtaining and prolonging a temporary residence permit. In 2021 Hungary scaled down its program, and today it is possible to become the owner of a permanent residence status in the shortest period of time only in Malta.

The Maltese investment program offers the opportunity to obtain the status in a couple of months: for this you need to buy government bonds in the amount of at least €250,000. In addition, you are required to purchase real estate objects or rent them for a certain amount.

As for the time limits for obtaining a permanent status in other countries, participants of investment programs such as the Portuguese or Spanish Golden Visa can seriously reduce them. At the same time, registration of investment permanent residence is possible immediately for each family member.

The conditions for obtaining the status, regardless of the method of obtaining it, are as follows: the applicant must reside within the territory of the country for at least 6 months annually within the entire period. You must obtain medical insurance, have a place of residence, pay taxes and participate in the social life of the country. Permanent residence status implies the possibility of official employment and conducting business activities. You are equal in rights with the natives in this matter. However, there are certain restrictions: you cannot permanently live in other EU countries before obtaining citizenship (the maximum period is 3 months within six months). Also, you can not enter the military service, participate in elections, vote for candidates, work in the public service.

The status will be your goal if you want to move to the EU in the future for permanent residence, official employment, doing business with minimal taxation.

Citizenship

Permanent residence and citizenship are quite closely connected and differ in practically nothing in many EU countries with a few restrictions. After obtaining a passport in some countries it is necessary to give up your identification document, however, countries such as Portugal, for example, support double citizenship.

Obtaining citizenship is possible in several ways:

• Naturalization

You should follow a simple sequence – residence permit, permanent residence, citizenship. Do not forget to renew documents in due time, integrate into the local community, pay taxes, pay utility bills, enroll children in local schools, and so on. Obtaining citizenship can take quite a long time depending on the country: the fastest way is to get a Portuguese passport, the longest is to wait for an Austrian or Swiss one.

• Investment program

You can take advantage of offers from some countries that offer to obtain the status of a citizen through investment. The time limits can be very short, while you can always keep your original passport.

You can become a citizen of Cyprus, for example, by investing the amount starting from €2 million in the acquisition of one or more real estate objects. The time period for obtaining citizenship in this case does not exceed three months. The situation is similar with citizenship in Malta, but here the expenses are significantly lower – they start from €700,000. A passport is obtained in a year or a year and a half on average.

The conditions for obtaining citizenship vary in each case. In most countries the confirmation of residence within the territory for at least 6 months each year is required. Investment programs allow participants to live for a minimum period of time or simply visit the country in transit, crossing the border and register at customs services.

Together with the EU passport, citizens obtain the new rights such as participation in elections, holding public positions and doing military service. You obtain all the opportunities of the natives of the country, working, living not only within the borders of the country, but also in any other country that is part of the European Union.

Who needs to think about obtaining citizenship? This is relevant:

• For those who are looking for a second homeland in prosperous Europe;

• For those who prefer to conduct an honest business and pay transparent minimum taxes;

• For those who plan to permanently reside in the European Union;

• For those who travel frequently and do not want to apply for a visa.

Passports of many EU countries allow you to easily visit more than a hundred countries around the world without obtaining the appropriate visas.

Comparison of a residence permit, permanent residence and citizenship

The main advantages of a residence permit status are:

1. Alternate location in Europe for living;
2. Traveling around Europe without visas;
3. Possibility of opening accounts in European financial institutions;
4. Acquisition and lease of real estate objects;
5. Obtaining education;
6. Enjoying all the benefits of living in a developed country.

There are also disadvantages: you do not have the right to be officially employed, you cannot conduct entrepreneurial activities (provided that you obtain an ordinary visa), you do not have the right to stay in other countries for more than 3 months every six months.

Advantages of the permanent residence status are: you have almost the same rights as the natives, you can work officially and conduct business, you get the status for all family members. Among the disadvantages we note restrictions on the period of residence in other EU countries.

Citizenship is an opportunity to obtain all the rights and freedoms of the natives. This is free travel not only in Europe, but also in many countries of the world. It is studying, work, permanent residence, the possibility of purchasing movable and immovable property, as well as minimal taxation. The disadvantage may be the necessity to renounce your native citizenship.