Programmes that involve obtaining a residence permit or citizenship in exchange for investment exist in many European countries. Portugal is not the only example. But the Portuguese Golden Visa differs in many ways from its European counterparts, and Portugal itself offers many opportunities and options that are not available in other EU countries.
Let's understand what these differences are and why we offer Portugal to our clients for investment and relocation?
We won't go into detail about the extraordinary culture and history of this country, the friendliness of its people, the wonderful food, the warm and homely atmosphere felt by any tourist arriving in Portugal for the first time: these are the circumstances that have caused thousands of foreign guests, first accidentally finding themselves here, so quickly fall in love with Portugal. And you can read about all this on dozens of websites and in hundreds of guidebooks.
Incidentally, these factors also explain why the country has repeatedly been distinguished by world’s best renown “Oscar” awards in the field of tourism: for three years it has been voted "Best Destination in the World" by the World Travel Awards, and in 2020 in addition to the title "Best European Destination" it has received a number of other awards. For example, Madeira has been voted the world's best island destination year after year, the Algarve the world's best beach destination, and Lisbon the world's best city-break destination.
Peculiar fact: Portugal is the third safest country in the world!
But let's talk about the purely practical side of the matter: after all, ERG Family Office clients are not just choosing a country for another tourist trip, but possibly a new home to live in. That's why our website is called Portugal For Life… What is Portugal for Life like? Why is it in Portugal that we advise you to look for investment options and new opportunities for the future for yourself and your family?
Let's start with communication. Unfortunately, the language barrier does make it difficult sometimes to find quick solutions, especially when selecting investment options, solving legal and immigration issues. And even at a very simple level: communication on a street, in a supermarket or on a beach sometimes may create a difficulty in many countries. But definitely not in Portugal: unlike many of our neighbouring European countries, in Portugal you can almost everywhere explain yourself in English. The Portuguese are very well versed in English and love to speak it.
Peculiar fact: Portuguese language is the 5th most spread in the world: over 240 million of the world’s population across 4 continents speaks it.
Portugal has given the world a unique musical and poetic culture through fado, the romantic, urban romance.
As for the Portuguese language, you don't need to know it to obtain a residence permit. But of course, if you want to feel at home in the country, sooner or later you'll want to consider learning at least the basics of Portuguese. We can provide a Portuguese tutor for you in Portugal or Russia. We can arrange a Portuguese tutor for you in Portugal if you prefer. Trust us, it's a great pleasure to be able to speak Portuguese and enjoy the great rhythm and music of the language.
Portugal's climate and mild weather all year round also impresses many foreign visitors. The proximity to the subtropics and the hot breath from Africa takes its toll: In summer, the thermometer can reach well over 30 degrees. But in contrast to many hotter places, even in neighboring Europe, the Atlantic Ocean, with its cool breeze, always brings a feeling of freshness. Even during the hottest summer months, a light jacket or jacket can be laid out on the terrace by the sea in the evening.
In winter, it is warm outside: you can easily sunbathe on the balcony and swim in the outdoor pool.
Peculiar fact: sea temperature close to the beach in Arrábida national park can rise up to 20 degrees Centigrade even during January.
The famous beach on the Arrábida Peninsula to the south of Lisbon.
But one should also remember that the inside of houses and flats it often gets cold in winter because, unlike in northern countries, there is no central heating, and the low night-time temperatures (in some areas they can drop to plus 3-5 degrees) can make it really cold inside during winter.
That is why the professionals at the ERG Family Office have solutions for clients: some of our houses have an internal central heating system and some have fireplaces (very popular in Portugal) which will give your home a unique cosiness!
Portugal is considered to be a relatively inexpensive country in Europe. Of course the global economic climate has taken its toll on the economy with an annual inflationary increase of about 10 per cent. But on average the prices of basic necessities are lower here than in other EU countries. The same is true for clothing, shoes and restaurants.
Portuguese cuisine is very popular with the Russians, from the simple, hearty and lavish home-style tavernas across the country to the sophisticated culinary creations of renowned chefs in exclusive restaurants.
Peculiar fact: you can have a very decent meal with wine, coffee and a digestive for as much as 8 to 10 Euro in a small family run restaurant outside immediate touristic zones.
The ocean bounty, much loved by the Portuguese, is accompanied by the famous "vinho verde", the green wine.
Interestingly, Portugal is still very much home to small family-run shops, a legacy of the patriarchal culture of the mid-20th century, when the country was on the periphery of Europe. The shops of butchers, herders, milkmen and fishermen or family-run bakeries are everywhere, scattering the aromas of coffee and freshly baked bread into the neighbourhood every morning.
Portugal has many advantages over other EU countries in terms of very loyal legislation to foreign investors.
holders of a "Golden Visa" in Portugal has the right to sell their shares in investment funds or acquired real estate after obtaining citizenship. In a number of other European countries, the investor is obliged to retain an investment of a certain amount for the rest of life. The investor has the right to apply for a residence permit in Portugal also for immediate family members: the spouse and minor children. In addition, the legislation also allows issuing a residence permit for parents (over 65 years) or adult children: for this purpose it is necessary to provide documents confirming the financial dependence of these family members from the investor.
Peculiar fact: apartments or houses available for sale in Portugal are usually pre-equipped with all basic equipment already. They would commonly have all basic kitchen furniture and equipment as well as all necessary bathroom equipment.
Portugal applies flexible conditions for obtaining a Golden Visa against the purchase of real estate. Thus, it is not necessary to purchase a single piece of property for a specified minimum amount (350 or 500 thousand euros). You can buy, for example, two flats: one for your own use, and another one to lease.
The minimum investment amount also includes renovation and refurbishment costs. Finally, a combination of direct purchase investment and mortgage is also possible: ERG Family Office will make all necessary calculations and offer them for your consideration, if necessary!