Residence permit in Portugal to address travel abroad during the pandemic

Natalia from Moscow, a clothing designer, owner of a personal brand.

She always uses exquisite and high-quality fabrics from Italy to create exclusive items. But during the pandemic there were supply disruptions. Negotiations with Italian manufacturers of fabrics in the telephone mode did not give the result. Natalia could not go to Europe to search for new partners in the conditions of the pandemic even with her Schengen visa. A good reason was required for entry, such as: family reunion, birth of a child, medical treatment. The presentation of the Fall-Winter 2020 collection was disrupted.

She applied to our Moscow office in April 2020.

The goal: to obtain a European residence permit, which would ensure the right to enter the European Union countries in a pandemic. It was also important for the businesswoman that the residence permit did not oblige her to live in a foreign country, because she was not planning to move.

Selection of program and investment object

Based on the task at hand, the best solution was to apply for a residence permit in Portugal. Of all the options of the Golden visa Portugal program, my client and I decided on two - the purchase of real estate and investment in venture capital funds. In order to decide, we compared all the pros and cons of the selected options.

Obtaining an investment residence permit in Portugal in 91% of cases is through the purchase of real estate. The minimum investment for this option is €280 thousand. The possibility of profit and its size always depend on the selected project.

The profitability of venture capital funds usually ranges from 3 to 10% per annum, but the minimum investment under the program is €350 thousand.

Natalia was hesitant: she didn't want to overpay, she didn't plan to rent out the property herself, she didn't trust intermediary companies, and she was afraid to leave the property unattended.

Then we found a solution - the purchase of a hotel room in the Evora Holiday Inn Express hotel in the beautiful tourist town of Evora at a price of €280 thousand. The client liked the offer. She was happy with the price and the fact that the apartment remained at the developer's disposal. This meant that Natalia would not have to deal with the rental and maintenance of the property. Once the hotel was operational (tentative opening date: summer 2023), the client would be able to live in her room for free 7 days a year as an investor.

In addition, she will save on associated costs in the column of payment of ownership tax and VAT. The world-renowned management company IHG Hotels & Resorts and the developer, which has more than 11 successful projects to its credit, is responsible for the reliability of the project - fulfillment of all terms and conditions. No risks and a guarantee of capital return in 5 years.

The process of applying for a residence permit

The lawyer, using a power of attorney, opened a TIN for Natalia, an account in the Portuguese bank La Caixa and formalized everything for participation in a development project through the purchase of a hotel room. The client's personal presence was not necessary.

In parallel, work was underway in the RF to fill the case. 

In June, the application for a residence permit and all documents with certificates, apostilles in a licensed translation were sent to the Portuguese Migration Service (SEF) for consideration.

In July our Moscow office received a positive response to the request. The client was given a date to submit biometrics.

Two months later Natalia visited Portugal with a special permit. Having passed the biometrics, she was interviewed and accompanied by a lawyer, submitted the original documents to the SEF. The Migration Service issued a certificate that the applicant is waiting for a residence permit. This document gives the right to stay in the country. But Natalia decided to return, because in Russia the work on the new spring collection was in full swing.

The way home was planned via Italy. In a couple of days, the client held several negotiations and signed important contracts for the supply of fabrics and the sale of finished goods.

Results of the case

In October Natalia received her residence permit cards by post. The residence permit in Europe helped her business not only to “survive” but also to increase its turnover during the pandemic.