Spanish Residence Permit vs Portuguese Residence Permit: Which of the sunniest countries in Europe to move to?

Wealthy citizens of the post-Soviet countries can immigrate to the sunniest countries of Europe on favorable terms. The immigration program "Golden Visa" is aimed at granting non-residents a long-term residence permit on condition that they invest money in local real estate. In this case, foreigners after immigration acquire new opportunities:

• prospects of citizenship;
• visa-free travel within the Schengen zone;
• high level of medical care;
• quality education, which is available to residence permit holders;
• participation of residents in profitable investment programs.

Spanish residence permit vs Portuguese residence permit: which of the sunniest countries in Europe to move to?

Below is a comparative characterization of the conditions of issuance of a residence permit in Spain and a Portuguese residence permit.

Spanish residence permit

Conditions for granting a residence permit: 

• investment in land and real estate (minimum - 500 thousand euros);
• creation of a company in the territory of the state with the accompanying opening of new jobs;
• registration of a deposit in one of the local banks (minimum deposit amount - 1 million euros);
• investing in securities of local companies in the amount of 1 million euros or more;
• purchase of government bonds in the amount of EUR 2 million or more.

Document issuance terms: from 1 to 3 months 1.5 months
Renewal of the document: for the first time - after 2 years, then - every 4 years.    
Permanent residence: after 8 years
Citizenship: after 10 years    
Dual citizenship -    

Portuguese residence permit

Conditions for granting a residence permit: 

• investment in land and real estate (minimum - 350 thousand euros);
• creation of a company in the territory of the state and the opening of at least 10 jobs;
• investments in the cultural sphere and innovation (minimum - 200 thousand euros);
• direct investments in the economy (minimum - 1 million euros).

Terms of issuance of the document: 1.5 months
Renewal of the document: for the first time - after 1 year, then - every 2 years.    
Permanent residence: after 5 years
Citizenship: after 6 years    
Dual citizenship +    

Cost of living

Compared to most EU countries, the Kingdom of Spain is financially affordable to register and run a business, as well as to live permanently. In addition, it has beautiful architecture and a pleasant climate, which attract immigrants from all over the world.

To date, the economic situation here has stabilized after the crisis of 2008. However, compared to the salaries of other European countries, there is a low level of income here. This is, of course, due to the low cost of living. The average income of a local family is only 20 thousand euros a year.

Portugal is the most economically accessible country for immigration and residence in Europe. It invariably attracts millions of people wishing to obtain a local residence permit due to its pleasant climate, low prices, and magnificent nature. Half of all the cork produced in the world is created here, in addition, the Portuguese tourism business is developing intensively. It is these destinations that form the local economy.

Compared to the Kingdom of Spain, the average family income of residents here is slightly lower - about 18 thousand euros. To enjoy a stay in this beautiful sunny state, it is enough to earn about 2-3 thousand euros per month.

Taxes

Comparing the taxation systems of Spain and Portugal, it can be concluded that in the second one, the tax burden is more moderate. The advantages of a residence permit or residence permit in Portugal can be attributed to the absence of tax on the increase in the value of urban plots when selling and tax on the state, and inheritance tax here - lower. Although, some of the tax rates are higher than in Spain. We will consider the standard level of taxes, but some of them are formed under the influence of additional factors and can differ even within the same country.

Climate

Spain is the country with the most variable and varied climate in Europe. This is because it is the only one that borders Morocco, a state in North Africa. The geographical location forms a variety of climatic zones.

On the territory of the state stretches a coastline with a total length of 5 thousand kilometers and mountain ranges, which occupy about 90% of the territory of the Spanish Kingdom. By the number of mountain ranges the country ranks second in Europe after Switzerland.

Portugal has a moderate climate: neither too cold nor too hot. Moving from south to north one can note the diversity of climatic conditions. There are mild winters and warm summers, and in spring and fall, there can be precipitation and wind.

Both states are an integral part of Europe, with all its pluses, so they are attractive for those wishing to obtain a residence permit and registration in a European state. When choosing a place for a comfortable and quality life, decide what you see it as in the future. If you lead an active social life, you will like the large cities of Spain, for example, Madrid. If you like quiet seclusion, pay attention to real estate in Portuguese villages. And even if your first attempt to become a resident here is unsuccessful, qualified specialists will help you to get a residence permit in the EU after refusal.