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Portugal – calculated choice for entrepreneurs

Intelligent Solution Group would like to draw your attention to business immigration to Portugal, a developed member of Schengen zone with nice conditions for both work and leisure.

Among the privileges of residing in the country are:

  • Comfortable climate, an abundance of attractions and an ability to freely visit cultural destinations throughout Europe and beyond due to unhindered traveling regime with 172 countries;
  • Standards of living, education and social care are set at a high level;
  • Renaissance architecture, cuisine, and renowned resorts bring about €12.5 billion to the budget every year;
  • Business immigration to Portugal has attracted many foreigners in recent years due to lower prices for transport, food, and property compared to the neighbouring countries;
  • Institute for Economics and Peace placed Portugal on the third position in the rating of the safest destinations;
  • Thanks to an exceptional quality and taste of local wine, the country is the third biggest importer of wine to the Asia-Pacific region;

An immigrant can not only enjoy the best recreational areas with his/her family but also profit from finding new clients and business partners. There are numerous economic benefits from business immigration to Portugal:

  • The country is witnessing the biggest growth of GDP in over a decade;
  • The country has an immigrant-friendly policy;
  • Persons who stay in the country less than 183 days a year are subject to zero taxation; otherwise, the progressive income tax is 14.5-48%;
  • The corporate tax is set at the bar of 21% that is quite low (for example, in Italy it’s 31.4%, in Malta – 35%, in Luxemburg – 29.2%);
  • Property tax ranges 0.3-0.8% depending on its price and regional location; it is worth mentioning that the owners of property facing south must pay additional 20% to a standard tax rate;

Since 2012, business immigration to Portugal is possible thanks to a “golden ticket” for well-to-do persons. Due to mild requirements and reasonable price tags, Golden Visa has become an important source of income for the country. The influx of investors has exceeded the most optimistic expectations. Today, 85% of newly become residents originate from China.

There are three legal ways of acquiring the Golden Visa:

  1. an ownership of a real estate estimated half a million euro,
  2. net investment worth twice as much as property,
  3. operational business involving the employment of at least 10 citizens.

Each scenario of business immigration to Portugal leads to a temporary residence permit valid for a year. A prolongation for 2 more years is possible if the resident spends at least 7 days a year in the country. Such 5 consecutive years give a right to apply for a permanent residency. Golden investors with a six years’ experience are entitled to a citizenship.

Meanwhile, Golden Visa grants its owners access to work permit with the complete social package, free or preferential education. Moreover, it’s a chance to conduct business in a country with many double taxation treaties and an opportunity for a family reunification on an individual basis.

Other features of undergoing business immigration to Portugal

There’s a set list of documents, that the authorities are interested in. Depending on the type of investment, this list will be supplemented with other references, i.e. proofs of shares in business, bank accounts, title documents for real estate etc.

Please bear in mind that there are supplementary costs in addition to the cost of entry – state duties for extending the residence permit, including relatives in the application, annual taxes and more. Moreover, there are set terms of filing an immigration application and compulsory security check-ups.

Despite the fact that the conditions for business immigration to Portugal are quite simple, the procedures must be observed precisely. Inadequate assessment of own capabilities can lead to denial of a better life abroad. We strongly recommend clarifying important details of immigration programmes, if moving to Portugal is your priority. Intelligent Solution Group offers expertise and legal support concerning the acquisition of a resident status under the immigration programmes of Portugal.

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