Relocating to Portugal from Russia as a Permanent Resident
Portugal is a highly desirable western European country, bordering Spain and the Atlantic Ocean.
This destination is popular with Russian investors, offering rapid economic growth and a pleasant climate of warm winters and mild summers.
Advantages of Portuguese Permanent Residency for Russian Investors
There are many reasons that Portuguese permanent residency is a draw for Russian citizens:
- The potential to apply for permanent residence, following a residence permit through investment.
- Options to rent out investment properties to generate an income stream.
- The ability to add a spouse, children and parents to the application.
- Secure rights to live, work and study throughout Europe.
- Freedom of movement across the Schengen zone.
- Simple migration laws, requiring applicants to stay in Portugal for seven days in year one and 14 days for each following two year period.
- The opportunity to apply for citizenship after five years.
- Tax optimisation advantages through the NHR scheme.
- High European standards of living with low crime rates.
Immigration to Portugal from Russia
Russian citizens can migrate to Portugal to gain permanent residence through several routes:
- Refugee immigration status
- Relocating with a work visa
- Applying through marriage to a resident or citizen
- Study visas via enrolling in an education institution
- Reunification visas to join family members
- Through investment
Here we'll look at this last option and how to obtain a Portuguese residency permit through investment.
Portuguese Residency by Investment
Russian investors may migrate to Portugal through three routes.
Of those, the most popular is to opt for a real estate investment of a minimum value from €280,000 to €500,000. The exact investment threshold depends on the location and age of the property.
Other investment routes include making a €1 million contribution to the economy or launching a business that creates ten new jobs. Investors can also opt to invest in an existing business for at least €350,000, provided this generates five new positions.
Investments made must be maintained for five years from the date of residence.
Residence Permits in Portugal Through Real Estate Purchases
Investors must purchase a residential or commercial property for at least €500,000. However, this requirement drops to €400,000 for real estate in low population density or low GDP regions.
Properties over 30 years old in need of renovation attract a lower investment minimum of €350,000. Renovation real estate in a low GDP or population density area requires a smaller threshold of €280,000.
Investors can let out properties to enable them to recover their funds and generate an additional revenue stream. They can sell properties after five years.
Portuguese Family Residence Permits
Investors may add a spouse, children, and parents to their residence permit documentation during the application phase.
Family members can include children aged under 18. Older children can be up to 26, live with the applicant, and be financially dependent on the investor, including university students.
Parents of the applicant of their spouse must be over 65, and the applicant's spouse must be legally married to them to be eligible.
How to Apply for Portuguese Residency and Permanent Residency
The Portuguese residency programme is relatively flexible. Investors must be present in the country for only seven days in the first year. In each subsequent two year period, they must stay in Portugal for at least 14 days.
Otherwise, there are no language tests or exams.
Applicants must be at least 18, with no criminal record, and willing to travel to Portugal for the requisite number of days. They must also be able to prove the legitimacy of their investment fund source.
The fastest way to secure Portuguese residency is to consult the professional teams at Astons. With years of experience applying for EU residency schemes, we ensure your permit is obtained in just 90 days, managing every aspect of your application, from preparing documents to the safe delivery of your permit.
Our process includes a private consultation where we discuss the optimal routes to EU residency for you. Once the appropriate programme has been agreed upon, we'll begin preparing documents and assist with the investment formalities.
You will need to travel to Portugal to submit biometric data, and Astons will then apply to the SEF organisation to progress the application.
Residence permits are valid for one year and renewable indefinitely for two years per renewal provided the minimum stay period has been met.
After five years of Portuguese residency, applicants may apply for a permanent residence or citizenship status, securing lifelong EU travel freedoms for themselves and their family members.