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Portugal: Businessmen’s European permanent residence option
Obtaining European permanent residence from Portugal does not only mean obtaining permanent residency, but also establishing international companies.
Despite the repercussions of wars and epidemics, the Portuguese market is still trying to rise, which gives hope to foreign companies and maintains it as an attractive market for investors.
To obtain European permanent residence, there are several investment methods available in Portugal through which you can invest in one of them and then obtain residency that turns into permanent residency and citizenship after living there for a period.
European permanent residence Programme
Portugal began attracting investors from all over the world after introducing the European permanent residence Programme, also known as the Golden Visa Programme.
To obtain the European permanent residence Program, an individual must be an adult and not have any criminal suspicions or suspicions related to the funds used for investment.
After investing in several ways, including investing in non-real estate funds, contributing to scientific research and the arts, or establishing a company, you will be able to obtain European permanent residence.
The advantages of obtaining European permanent residence are many, the most important of which is enjoying excellent educational and health systems, freedom of movement and residence in all Schengen countries, the possibility of opening companies, and obtaining a Portuguese passport in the future.
In recent years, the Portuguese economy has been trying hard to make changes in order to attract foreign companies around the world, and one of these changes is making it easier to set up a company in Portugal.
Through the “Empresa na Hora” website, you can register and establish an individual company or a private or public limited company within one hour, provided that all papers are ready.
How to open a business with European permanent residence
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1. Choose the company type
You must choose the company type from several options available depending on your needs, including limited liability company, joint stock company, and holding company. Each of these companies has requirements that must be met.
2. Determine the company’s capital and shareholders
The best thing is that in Portugal you can open a company with a capital of just one euro. However, it must be proven that the operating capital is 50,000 euros in the case of establishing a joint stock company and then specifying the number of shareholders.
3. Obtain a trade name
Obtain a trade name for your company from the RNPC (Registro Nacional de Pessoas Coletivas) website, where you must provide a tax number statement if you are a foreigner and a trade certificate statement if you are a shareholder as a company.
4. Preparing the incorporation law document
Preparing and formalizing the founding law document. This document will serve as the legal basis for your company.
5. Company Registration
After obtaining the name certificate and certificate of incorporation, you must register your company. Then obtain your certificate of incorporation, social security number and ID card from the “Empresa na Hora” website.
6. Starting business activities
After registering in the previous step, you will have 15 days to start your activities, register your company with Portuguese taxes, and register directors with the social security system.
7. Open a bank account
You must open a bank account to facilitate repayment procedures, and adhere to the financial reports required by the government. For example, you must deposit €5,000 in order to open a private limited company.
Advantages of obtaining European permanent residence
· Various investment options
Recently, Portugal has begun to lead in innovation and investment options in all sectors, not just trade, tourism and manufacturing, as it has proven its worth in technology services and research and development as well.
· Competitive salaries
Given Portugal’s quality of life and its standing in immigration and tourism, it remains one of the best countries to attract workers around the world. But what clearly distinguishes it is that the salary rate is the lowest in the entire European Union, and this gives a competitive advantage to companies at the international level.
· High standard of living at affordable prices
Another reason why investors and businessmen seek permanent European residency from Portugal is the high quality of life and reasonable prices of living. Where, with a lower cost of living, you can still get excellent healthcare, a good education and live in a country with beautiful landmarks, a great atmosphere and delicious cuisine.
· Other advantages of obtaining European permanent residence
✓ Possibility of touring and staying in all other European countries.
✓ Obtaining a safe haven, a stable political atmosphere, and an alternative plan.
✓ Owning investments from the heart of Europe.
✓ Obtaining a second residence permit and a second passport.
✓ High quality life.
✓ Advantage of currency stability in Portugal.
✓ Availability of different types of investment methods including local funds.
✓ English is widely used and this facilitates the task of communication.
✓ Low cost of living.
✓ Portugal ranks sixth in the Global Peace Index as one of the most livable countries.
✓ Portugal has very good healthcare and a first-class education system. It also includes one of the best universities in the world, the most famous of which are Cattolica University and Nova University.
Great invest sectors to get European permanent residence
· Renewable energy sector
Portugal has seriously considered finding a solution to polluting energy sources such as oil. Indeed, it began to do so, and Portugal’s climate and nature helped it create energy projects powered by wind, sun and waves.
The energy sector has proven to be a rich investment area for European permanent residence holders, as they can manufacture energy such as solar panels and photovoltaics, and then sell it and make a return on investment, even if it takes time.
· Agricultural sector
The agricultural sector also occupies a distinguished position in Portugal, as olive oil and wine are among the most prosperous crops in Portugal.
· Technical sector
After Covid and the necessity of shifting to technological systems, Portugal took advantage of this and created a qualitative boom in the field of technology, as many international companies moved their headquarters to Portugal.
Global Citizen Consultants is a legal and approved company for obtaining European permanent residence from Portugal. If you would like to learn more about this program or citizenship by investment programs. Leave us a message and we will give you a free consultation.
About Author
Taher Shehab
As co-founder and CEO, Taher Shehab has guided Global Citizen Consultants to be a leader in providing citizenship by investment in over 20 territories, including the Caribbean.
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