What are the benefits of having an EU passport?

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Published on 10 December, 2019 • Last updated on 10 December, 2019

By Portugal Homes

What are the benefits of having an EU passport?

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 benefits of an EU passport:

1. Mobility

If you qualify to apply to EU citizenship, you can travel freely across 28 European countries including all Schengen states. Although most United States, Australian, Canadian and NewZealand citizens can enter the EU without a visa, they don't have the rights to 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 full Portuguese citizenship.

2. Healthcare

Access to universal health care throughout the European Union is one of the greatest benefits to those who obtain the European Union passport, giving great security to those wishing to come here. While each European country has its own system, basic health care is guaranteed to all citizens.

3. Education

European passports grant 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.

4. 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.

5. Financial

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 or obtain the NHR, 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 favourable tax rates or foreign income schemes that can create an attractive tax environment for the first years in the country. 

6. Europe Dual Citizenship

The global covid pandemic we faced in 2020 highlighted the importance of having dual citizenship: an EU passport is an alternative to economic, social, political and even public health instabilities in investors' country of origin. Not to mention that there’s the possibility of bringing the whole family within the scheme, as Portugal has one of the best cost-benefit Golden Visa programmes in the worldLearn more about the Golden Visa in 2021 here.

- How do I get dual citizenship in Europe?

Although applying for second citizenship can seem like a long process, there are many benefits that come with having a second passport. Get in touch with us to discover the best way forward to becoming an EU citizen. Learn more about the Golden Visa programme here which is undergoing changes in 2022 - you may acquire citizenship through real estate in premium areas like Lisbon and Porto till the end of the year.

Our After Sales Department will also guide you in every step of the application, if required, and make sure your investment is well taken care of while you are away.

- Can Americans have dual citizenship in Europe?

US citizens can get dual citizenship through naturalization, marriage, descent, birth, or citizenship by investment. More and more US citizens are applying for residency or citizenship by investment programs in the EU. They are also known as the Golden Visa Programs. The number of wealthy US citizens heading for Golden Visa programs has increased particularly after the COVID-19 pandemic.

- Which EU countries give citizenship easily?

Portugal, Ireland, Sweden, United Kingdom, Belgium, France, The Netherlands, Germany, Norway, Denmark, Austria, Italy, Spain and Switzerland. 

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