Updates:Al Ameri Tower, Office 2001, Floor 20, Al Barsha Heights, Dubai, UAE Read More
Comparing Between Portuguese EU Residency and D2 program
EU Residency and other Portuguese programs are a hot topic these days, as countries offering EU residency except Portugal are considering to end them.
The Portuguese EU residency and D2 Visa programs offer a fast track for applicants and their family members to live, invest, set up businesses, move visa-free and eventually obtain residency and citizenship in the European Union.
Not only because they are the only option for residency through investment programs, but also because of Portugal’s attractiveness in terms of sunny weather, low cost of living and the many business, investment and social opportunities that come with the EU residency program.
A look at EU residency programs
With the Spanish EU residency and Greek EU residency programs coming to an end, the search for alternatives to these programs is urgent at the present time.
The Golden visa programs were created as a legal way for non-EU nationalities who aspire to reside in Europe after investing and supporting the economies of these countries and then experiencing the highly efficient educational and health programs in Europe.
If you are thinking of moving to Europe and then starting a family and business and you do not know which programs will help you in your endeavors, here we present to you the Portuguese residency programs (EU residency Program and Business Program or what is known as D2).
The choice of one of the two programs depends on the preferences and situation of the applicant at the same time, as they differ in terms of eligibility, requirements and residency details. In this article, we try to cover all the details of these two programs.
Information about the Portugal EU residency Program
Portugal offers a distinctive EU residency program, which requires individuals to reside for two weeks for two consecutive or separate years in order to maintain the EU residency permit.
Portugal designed this program to attract investors and their investments to the country after the condition of investing money or donating in several fields and in return provides them with a fast track to EU residency for investors and their family members.
The second advantage that the Portuguese Golden Visa is famous for is its fast track to obtaining European passport, where after 5 years of residency and after learning the Portuguese language, you and your family members will be eligible for Portuguese citizenship.
Information about the Portuguese D2 Visa Program
~ GCC
In addition to the EU residency Program, Portugal has created several investment immigration programs, including the D2 Visa (Entrepreneur Visa), the D7 Visa (Passive Income Visa), and the D8 Visa (Digital Nomad Visa).
Although less popular than the EU Residency, the D2 Visa offers investors from outside the European Union the opportunity to reside and work after setting up a business, transferring an existing company, or investing in a company in Portugal.
Comparisons between the EU Residency and the D2 Program
Although they share the fact that they support the Portuguese economy and provide European Residency, the differences between them are as follows:
✓ The Entrepreneur Program is granted after opening or expanding a company in Portugal. In contrast, the EU Residency is granted after investing in certain areas in Portugal.
✓ As for the residency requirements, it can be said that the EU Residency is a golden option for people who are thinking of obtaining European residency from Portugal without residing in the country, as it requires 7 days of residence per year, and the Entrepreneur Visa requires residence for 6 consecutive months or 8 non-consecutive months per year.
✓ The D2 program does not require you to invest a specific amount, but you must provide strong evidence of the economic and social impact that your project will provide to Portugal and you must prove your financial ability to support yourself and your family members on a continuous monthly basis. As for the EU residency programs, there is no need to prove your financial ability and you must invest between 250,000 euros and 500,000 euros in non-real estate funds or make contributions to some Portuguese institutions.
✓ The EU residency holder is not considered a tax resident in Portugal if he does not spend more than 183 days in Portugal per year, unlike the Entrepreneur Visa which requires paying direct taxes and social security contributions.
✓ The application process for the EU Residency is easier but a bit longer, as the Entrepreneur Visa requires annual renewal and the EU residency every two years, both leading to permanent European residency or Portuguese citizenship after 5 years depending on the length of stay.
Which should I choose now, EU Residency or D2?
If the investor is looking for a new investment option and a long-term return on investment and is using Portugal as a winning card to benefit from its advantages rather than committing to a long-term residency, the EU Residency is the better option.
But if the applicant has an idea and a business project through which he can prove to the Portuguese government that he deserves Portuguese residency, and if he and his family members have a stable income and do not face any problem staying in Portugal, the D2 residency is the right choice.
For more information about the Portuguese Golden Visa or the rest of the European residency by investment programs around the world, contact Global Citizen Consultants, the authorized office for obtaining second citizenship and residency by investment around the world.
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.
Post a Comment