With the rise of immigrants and non-immigration, small European countries like Portugal are becoming more and more popular among global immigration. What is the fundamental reason? The major changes in Portugal’s Golden Visa have become a fact. Is it worth investing in Portugal? The Portuguese immigration schedule has been more than one year, will it become the second American immigrant? The following is the " Portuguese immigration , what are the 9 things you need to know about?" compiled by the editor of China Immigration. Come and have a look with the Chinese Immigration editor!
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The first thing: The major changes in Portugal’s golden visa have become a fact. Is it worth investing in Portugal?
1. Starting from January 1, 2022, investors will not be able to obtain Portugal's golden visa by purchasing residential real estate in Lisbon and coastal cities. They only invest in residential real estate with a significant increase in in the past 10 years. The images include the following major adjustments to the investment requirements in the inland areas or the South Asia Sur Islands and Madeira Islands. The first adjustment is that residential properties with a total of more than 500,000 euros or renovated residential properties with a total of more than 350,000 euros can only be purchased in the inland areas of , Madeira Islands and Assyrian Islands.
2. The investment in purchasing funds has been adjusted from the previous 350,000 euros to 500,000 euros.
3. The amount of deposit immigration is adjusted from the original 1 million euros to 1.5 million euros.
4. The amount of investment in scientific research has been adjusted from the original 350,000 euros to 500,000 euros.
5. The amount of the company established was adjusted from the original 350,000 euros to 500,000 euros.
In summary, this new policy is a word rise. Is Portugal worth investing?
Portugal has been adjusting its policies since it started investment immigration in October 2012. Although there are ups and downs, the overall trend is still increasing and more restrictions and the threshold is getting higher and higher. Is it worth investing? It is based on your family plan and needs. So from the perspective of identity value, if your goal is EU passport , then from the various projects of the current investment immigration policy, Portugal is still a good choice.
The second thing: The schedule for Portuguese immigration has exceeded one year, will it become the second EB5?
If the biggest negative news in Portugal in 2021 should be the Portuguese Golden Visa Schedule, the current schedule is more than one year, because applicants are a little impatient with this and are worried that Portugal will have a long schedule like EB5. This concern is unnecessary. The main reason for the short schedule is the epidemic. We have also seen that the Portuguese Immigration Bureau is adopting a series of measures to speed up the approval efficiency of visa and residence applications and reduce the waiting time for people.
The third thing: The Portuguese Immigration Bureau will officially dissolve the temporary office pilot in June 2022 to speed up the process of immigration processing.
The dissolution of the Portuguese Immigration Bureau will transfer the relevant functions of Huanfa residence to the Notary Registration Bureau. At that time, the efficiency of Huanfa residence in Portugal may be greatly improved. In fact, the latest news has been released. The Portuguese Immigration Agency opened two office pilots in Coimbra that can submit applications without an appointment, starting from January 8. This pilot measure aims to simplify appointments, improve service capabilities, and solve schedule problems.
The fourth thing: In November 2021, American applicants surpassed China and became the first to apply for Portugal’s golden visa.
Everyone is curious again. In November 2021, 83 investors and 109 families were approved, and American families surpassed Chinese applicants for the first time, and 20 main applicants ranked first. Why did Americans lead Portugal? Is Portugal more fragrant than the United States? What advantages do Americans value Portugal? The following advantages can be summarized:
1. US passport Although the visa-free Schengen countries in Europe or EU countries, the US passport does not have the right to live, live, study and work in EU countries for a long time, but the Portuguese passport is an EU passport, and the Portuguese passport enjoys this right.2. International courses are in line with. The United States has a variety of different courses in Portugal, including the American courses, two of the best schools, Lisbon Carucci American International School and Casques International Christian School. In addition to these two American-based schools, there are many international schools in Portugal that offer international programs.
3. Portugal enjoys preferential tax policies. Portugal and the United States have signed a DTA to avoid double taxation. Even if you become a Portuguese citizen, the same income only needs to be paid in the United States or in Portugal, without the need to be paid repeatedly at the same time. In addition, overseas pension income is tax-free in Portugal.
In addition to DTA, we also have a tax, which we call the non-recurring residents (NHR) system. So what does this mean? That is to say, if you did not live in Portugal for more than half a year, then you are not a regular tax resident, then most of your foreign-source income on this project is tax-free for 10 years, then if the foreign income comes from a country that signed a DTA with Portugal, then you will not be taxed in Portugal, and if you have a high value-added occupation, you will be generously exempted. Normally, EU EEA Swiss citizens can apply for NHR as residents of Portugal, however as a U.S. citizen, you can become a resident through the Portuguese Golden Visa and enjoy the rights of NHR.
4. Portugal is a holy place for vacation and elderly care. Compared with Portugal, the United States, life is slower and suitable for elderly care.
5. The cost of low living and medical care has attracted American citizens. The overall cost of living in Portugal is 30% lower than that in the United States. In addition, the more you are away from the main cities, the cheaper the living expenses. Portugal's price living expenses are basically around 500 to 800 euros per month.
6. The social security index is higher. According to the 2020 Global Peace Index , Portugal ranks the third most peaceful country in the world, so this is a very safe country with much lower crime rate. This is a major reason for the increasing number of American expatriates in Portugal.
Fifth thing: Portugal is one of the easiest countries among European immigrant countries to obtain an EU passport.
If you hold a Portuguese Golden Residence Card for 5 years and obtain the A2 junior certificate of Portuguese , you can apply for a Portuguese passport, which means you have to obtain an EU passport. EU passports are not only visa-free in 187 countries and regions, but also enjoy the EU. In the EU, there is a permanent right to reside in learning, enjoy welfare and education. At the same time, the right to reside in four European Economic Zone countries is also enjoyed, and according to the latest international law in 2021, as long as any parent holds a legal residence status in Portugal for one year, children born in Portugal will automatically become naturalized in Portugal. This is a very good benefit for the US supply that wants to obtain identity for the child. They can directly obtain an EU passport at a smaller cost.
The sixth thing: Although Portugal A2 is not difficult, it is a junior exam, but it does not mean that you do not have a language barrier.
English is the second language of Portugal, but the application of local Portuguese is still higher than that of English. For some people who must learn Portuguese smoothly, it is definitely difficult to learn a new language for some people. There is no need to worry about children's learning ability, it's just that adults need to spend some time.
The seventh thing: Even if the per capita wage in Portugal has risen to 705 euros in 2022, it is still relatively low.
Many people come to immigrate to Portugal with their own savings. Although the Portuguese Golden Visa allows to do business and work, if you immigrate to Portugal to work, the local salary level may disappoint you a little.
The eighth thing: the property tax rate is adjusted, and the cost of buying a house will increase.
Portugal has released the tax rate for property taxation in 2022, and the biggest change is that cities like the Lisbon region will impose a punitive vacancy tax .That is to say, if you buy your house and you have been vacant there, you have to bear a maximum vacancy tax of 30% of the house price. However, this measure will have little impact on immigration applicants, because the new policy in 2022 stipulates that investors will not be able to obtain a Portugal golden visa through Lisbon , Porto and coastal cities to purchase residential properties.
The ninth thing: Portugal immigration residence card implements the 2+2+2 principle, and there is a renewal fee.
The renewal of the Portuguese immigration residence card was originally a 1+2+2 model, which means that the first residence card obtained was a one-year period after the epidemic began. In order to reduce the entry and exit of applicants, the Portuguese Immigration Bureau set the first residence card to be two years, so it implemented a 2+2+2 model. Taking a family of three as an example, the first application fee is 532.7 euros per person per time, so the renewal fee for the residence card is 2666.3 euros per person per time. The total fee is calculated based on the real-time exchange rate . The cost of obtaining a gold residence card for the first time is about 63,000 yuan.
The above is the full content of "What are 9 things do you need to be clear about in Portuguese immigration?" compiled by the editor of Huaxia Immigration. If you want to know more immigration policies and information, you are welcome to go to the official website of Huaxia Immigration!
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