Published on 10th December 2019
The European passport is amongst the most powerful in the world; pursuing one grants one several benefits, such as unrestricted right to live, work, retire, or run a business in the European Union. Besides that, since all EU states are working together, there are no wars between them. This union between the countries made Europe a peaceful place and as a result, citizens live in mutual respect towards religion, race, and ethnicity.
Here are 5 top things you can take advantage of if you’ve applied for an EU passport:
If you qualify for EU citizenship, you can travel freely across the 28 European countries including all Schengen states. Although most US, Australian, Canadian and New Zealand citizens can enter the EU without a visa, but they cannot live, work or study in the EU for more than 90 days out of every 6 months.
If you’re coming from outside read more on acquiring the full Portuguese citizenship and enjoy Portugal as much as you want.
Access to universal health care throughout the European Union is one of the greatest benefits of a European Union passport. While each European country has its own system, basic health care is guaranteed to all citizens.
An EU passports grants you access to free education or reduced fees costs at schools and universities throughout the European Union, being some of them the world’s most renowned institutes. Additionally, any certificate of higher education obtained within an EU member state will be recognized in all other European countries.
Safety and Privacy
General Data Protection Regulation (GDPR) has recently been introduced into the EU, covering data collection, storage, and use and allowing individuals to move their personal data from one service provider to another. EU regulations provide a tax-related level of confidentiality that is not present in many parts of the world.
To investors, financial benefits are crucial. The EU offers appealing capital investment tax incentive programs. Europe has no double taxation (or low tax) agreements with more than 60 other countries. EU regulations also offer a layer of taxation privacy that is not available in many parts of the world.
If you would like to know more about the tax regime in Portugal, see here.
Lastly, different countries around the EU offer different tax rates - countries such as Cyprus, Greece, Portugal, Malta, and Montenegro, among others, all offer either favorable tax rates or foreign income schemes that can create an attractive tax environment for the first years in the country.
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Although applying for second citizenship can seem like a long process, there are many benefits that come with having dual citizenship. Get in touch with Portugal Homes to discover the best way forward to becoming an EU citizen. Our After Sales Department will also guide you in every step of the application process, if required, and make sure your investment is well taken care of while you are away.
Considering applying to get Portuguese Citizenship? Get in touch with us
About Portugal Homes
PortugalHomes.com specializes in investments through Real Estate and Golden Visa. We help buyers find the right property overseas, whether it be for Golden Visa, NHR, Investment or simply a place in the sun. Our properties are selected with great thought in mind to give our clients the best opportunities. We offer the complete service from introducing them to the Legal Representatives, Currency Exchange, Mortgage Advisors, Property Management, Rental and Furniture Packages along with making sure all our staff are trained to fully understand the buying process and taxes for every scenario. Portugal Homes provides the complete service to anyone looking to buy a new or resale property overseas for holiday use or as a short or long-term investment.
Phone: +351 213 471 603