A Tale of Twin Citizenships

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If there is one lesson that we learnt from the Russia and Ukraine war, it is that our world can change in an instant.  Along with the recent ongoing lock down in Shanghai.  The lack of medical support in India in the second wave of Covid, all propel those who have the means and capabilities to think hard on their plan B.  

We talk to clients from all over the world everyday, and all of them have their own reasons when deciding to get the Portugal Golden Visa.

But it inevitably boils down to one main reason – the options that this second passport gives them.  

Natural disaster and crisis like war, pandemic, government decision affects everyone, rich or poor.

We know many Ukranians and Russians alike want to flee their countries.  But the challenges that most of them face are:

  • Getting Schengen visa is challenging;
  • Getting money out of the country is challenging;
  • Getting an overseas account open is challenging;
  • Getting resident status in a safe country that allows you to live, work and study is challenging;
  • Having all your assets, investments and savings in your home country, in the same currency means heighten risks… if currency exchange rate plummet.

Just imagine, the relief you feel if you

  • have a solid option to move your families out of harm’s way, in necessary circumstances;
  • have an overseas bank account ready where you can move your money out in an instant;
  • have investments outside of your home country, serving as a hedge on the currency and also on the asset value if anything happens in your country;
  • have a resident/ citizenship status in another country, where you can enter without any need of visa; where you and your family can stay and start your new lives; where your children can continue their study; where you have the right to work; where you and your family are entitled to free health care.

The Portugal Golden Visa allows you to have all the above. 

Portugal is the 3rd safest country in the world.
Portugal’s health care system is ranked the 12th best health care system in the world.

Just imagine the difference that this one single step would make for your life. 

When people around are panicking to find ways to physically leave the country and move their money or assets abroad in crisis.

A second residency, a second passport, a plan B, is an insurance you could get now, for if thing goes wrong in your own country, you have the power to choose your life.

Furthermore, Portugal Golden Visa doesn’t need applicants to live in Portugal during the vast majority of the whole process, meaning you get to decide if and when you want to exercise this option.  

And even if that day never came, you still wouldn’t be worse off for having a second residency in Portugal.  You will be able to freely enter the European Union and stay in Portugal for as long as you wanted.

Applying for a second residency does take a bit of work and effort.

But imagine the possibilities you would have with your Portugal Golden Visa, in contrary to those that thought of the idea of getting the Portugal’s Golden Visa but never took actions.

Freedom of movement and freedom of choice is important. You might need the ability to leave, as well as a place to go.

This is the time to invest in Portugal

The euro’s drop to a five-year low is rekindling the possibility the currency will reach parity versus the dollar for the first time in two decades.  This is the time to seriously consider buying Euro denominated assets cheaply.

Portugal has rode out of the biggest hit in tourism in recent history during the pandemic and came out stronger as ever.  Portugal´s GDP is currently leading the growth of EU.  Tourism increased in last recession as Europeans stopped taking exotic holidays and looked closer at they have best at home.

Portugal has become the relocation paradise for many.  Foreigner relocating to Portugal are not only Golden Visa investors, but digital nomads from all over the world, plus retirees and wealthy entrepreneurs, to take advantage of the 10 years of tax free on world-wide income, offered by the NHR program.  The influx of wealthy individuals will help drive the growth of population, the economy, the investment market, and so on.

There’s no downside in being early.  But procrastinating and waiting until it’s too late could be one of the costliest mistakes of your life.

 Portugal discovered the world, now the world is discovering Portugal.

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