Portugal: One of the Five Best Countries For Second Citizenship
What are the five best countries for second citizenship? That is a question that involves an assessment of the cost, procedures for applying and the benefits of the countries involved. If one is serious about leaving their country, or at least obtaining a second passport, and they want more concrete information, then they need the information narrowed down to those countries that truly are the best for obtaining a second citizenship by investment. One of those countries is Portugal.
While Portugal does not operate a citizenship by investment programme, its Golden Visa residence programme is still very popular and can lead to citizenship. Upon making an investment, an applicant and dependents are granted five-year residence permits allowing them to live, work and re-enter Portugal freely. Visa-free access to the Schengen Area is another benefit of such residence permit.
Portugal is a country with a lot of history, culture and great cuisine. Residents enjoy a warm climate, a safe environment and friendly neighbours. The country has a well developed banking system and a welcoming approach to the technological sector.
To secure the Golden Visa, there are a variety of options. Any one of the following will secure the Golden Visa:
Transfer capital of at least 1 million euros into an approved account;
Create 10 new jobs;
Make a real estate investment varying from a minimum of 280,000 euros for renovation to over 400,000 euros in low density areas;
If opting for the capital investment route, choose between contributing 350,000 euros for research, 250,000 euros in art projects, or at least 350,000 euros in a specified investment venture capital fund;
Invest 350,000 euros in a Portuguese company creating five permanent jobs for a minimum three years.
Portugal has been very lenient and approachable in doing financial due diligence with its Golden Visa applicants, and that is another important reason to single out this country as the top choice for a second passport. The country allows dual citizenship so an applicant can apply for Portuguese nationality after 5 years of residence. A Portuguese passport gives access to 185 countries in the world, including the right of free movement within the whole European Union.
