International Citizenship & Passports – DRSI LAW

II Citizenship Global Investment Programs

A Second Passport? Just buy another passport? Why not?

If you want to have two homes or multiple cars or more shoes than you actually need – why do you do it? There are numerous reasons, but it may be simple- CHOICE

I can afford to choose and I can afford to pay to expand my options.

Multiple Reasons – By having multiple citizenships, this opens your global travel options vastly, speed of mobility since other countries do not require a visa to enter, reduced tax programs and even attractive real estate options. In some instances, this can permit employment in a specific country such as Cyprus opens the door to all of Europe. Other countries permit easier access to international treaties such as Turkish and Grenada citizenship that connects you to Investment treaties in the United States.

Different Passports Available

Please review the Table of Citizenship Options & TimeLine

DRSI LAW will assess your enquiry and find the perfect solution for you? CONTACT us here and explain what your purpose is for you and your family and we will provide you with the options available.

English

Portugal

Location - The Portugal Golden Visa program has proven to be the most popular scheme in Europe with investors attracted to its flexibility and benefits.

Launched in 2012 the investor visa program has been actively promoted internationally by the Portuguese government. The process is split by installments. The investment according to the requirements shall grant the family “a residency permit” for a family including dependent children. The Golden visa Resident Permit can be renewed every two years - on condition that the applicants spend two weeks in Portugal every two years on vacation and build ties to the country. The Golden visa needs extending three times, at the 2-year mark, at the 4-year mark, and finally at the 5-year mark when you can finally request citizenship. The long-standing and highly reputed GOLDEN VISA PROGRAM offers the following prime benefits:

- A very attractive option that enables a family to apply for permanent residency and citizenship after 5 years.
- Portugal allows Dual citizenship
- You can include your spouse and children under the age of 18, or over the age of 18 as long as they are full-time students
- You can benefit from VISA free travel to 186 countries
- The Golden Visa or Portuguese residency card permits the applicants to travel through the Schengen area. They are not free to work or reside, but this allows them to travel according to regulations and you will not need to apply for a Schengen visa separately.
- The Portuguese passport is a full member of the European Union, permitting you to benefit from Free Movement in all 27 European states and freely live, reside, work or study in any country in Europe.
- There is no need to live in Portugal.
- The applicants are required to travel to Portugal on a two-week vacation once 2 years to enjoy a holiday, see a football game, go enjoy the surfing on the beaches and renew the “Golden Visa”.
- The citizenship is based upon having purchased a property and owning this property for 5 years through the golden visa program.
- You are required to start to make ties to Portugal, like a membership to a football club or registration to a local Church.
- You are required after 5 years to sit a language test and show that you can speak basic Portuguese.

BASIC Requirements

Real Estate Option a) An investment of €500,000 in real estate in Portugal will gain a residency permit for a family including dependent children. Based on recent changes in the Law - the Golden Visa will no longer be available through investment in real estate property in major cities like Lisbon and Porto. Real estate property acquisition will be dispersed to regions of Azores and Madeira.

Real Estate Option b) It is possible to obtain the golden visa through a reduced investment of €350,000 into real estate requiring renovation. Such projects need to be approved by SEF as qualifying for the reduced investment amount and it is critical to ensure the right project and legal advice is obtained before embarking on such investment. La Vida has experience of many applications and projects for the €350,000 reduced initiative since its introduction. This option may be removed soon based on a rise in capital investment in Portugal and escape from the financial crisis in 2008.

Investment Option a) €350,000 to invest in a fund - The list of funds that are available changes - 3 options - a)Funds specifically designed for Golden Visa investors - accepting €350,000 investments, typically low to medium risk profile and accordingly low to medium expected returns; b) Traditional venture capital (VC) funds. Typically, invested in early-stage tech companies with global potential. c) Traditional private equity (PE) funds. Typically, invested in more traditional markets and/or financial instruments, sometimes with a focus on yearly dividends. Sometimes higher minimum investments than €350,000, fund length of 10+ years, often medium to high risk, with expected rewards accordingly.

Corporate Option a) setting up a Portuguese company with 10 employees and investing €150,000.

Conclusion - In 5 years, for just under $70,000 USD per family of five, an applicant family can afford to buy a luxurious property in Portugal, benefit from the monthly rent, travel to 186 visa-free and have the right to live, work and travel for unlimited time to 27 European countries.