I'm an investor in London and I would like to know what rules would apply post Brexit if I were to go for golden visas in Portugal. What rules should I be concerned about to gain permanent residency for myself and my family?
The Portugal residency program would be the best option. If you apply for a Portuguese resident certificate, you’ll be allowed to work in other EU states with this resident certificate. The Portugal residency can then lead to EU citizenship, which would allow for more flexibility of movement than any other country.
Since the UK is now considered as outside of the EU, it is possible to obtain the Portuguese Golden Visa. This was neither possible nor necessary until Brexit happened. If you intend to move to Portugal, there may be other less expensive visas to do so.
As of Jan. 1, 2021, Brexit has become official. As such, from this moment forward, all British citizens are considered foreigners to the European Union’s authorities. Hence, UK citizens who wish to apply for either a residency or a second citizenship in a European country will have to apply for it like any other foreigner from a country outside the EU. Applying for a Portuguese residence permit through the “Golden Visa” program would be the best option as, once it is granted to you, it only requires you to stay in Portugal for seven days per year, unlike the general residency programs, which require a mandatory stay of six months. The application for a Golden Visa in Portugal is composed of two stages: an online application, in which only basic documents are submitted, which occurs immediately after your investment is executed; and a second stage, which takes place once the online application is approved by the SEF (Portuguese Foreigners and Border Services), and which will demand you to visit Portugal to personally submit all the mandatory documents and also have your biometric data collected. If by July 1, 2021, your online application is submitted, your investment in Porto, Lisbon or Algarve will not be at jeopardy and you will be entitled to a residence permit under the Portuguese Golden Visa Program. After that date, due to legal changes, any investment performed in those cities will not be eligible for the Golden Visa application. The Golden Visa program requires you to maintain your investment for five years, during which you will be issued temporary residence cards valid for two years. Once you fulfil the five-year period, you will be entitled to apply for either for the permanent residence or even the Portuguese citizenship.
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