It is not a secret that the Portuguese Passport is one of the most sought after passports in the world. There are many benefits that come with holding a second passport from Portugal that you can take advantage of, and obtaining EU citizenship has never been easier thanks to golden visas.
As of the writing of this article Portugal ranks at number 6 in the Guide Passport Ranking Index. The Guide Passport Ranking Index is a yearly list that ranks countries based on how many places you can visit visa free.
Portugal, right now, has access to 191 countries around the world without the need of extra documentation or any sort of permission. This includes all of Europe and most of the common destinations around the globe.
Few countries do need you to provide an additional visa such as China or Russia, but this is extremely common and nothing out of the ordinary. There are only 38 countries where Portuguese nationals require extra documentation. Which is part of the reason why it ranks só high in the Guide Passport Ranking Index.
Besides its lack of travel restrictions there are many other reasons why Portugal is a very sought after Passport. One of the main reasons being that Portugal is part of the European Union.
By being a member of the European Union you are given almost unlimited access to work, live, and to do business all around Europe. You are also given all of the social, medical, and economic benefits that come with being part of the EU.
Besides air travel one of the main advantages with having a Passport from Portugal is that you can live and retire there quite easily. Because of its prime location and cheap cost of living, compared to other countries in the European Union, Portugal is one of the best retirement spots in Europe.
There are a number of documents that you need to provide in order to retire in Portugal, but if you are of a certain age, have a good bill of health, all of your finances are in order, and you can prove that you can take care of yourself and your family then you can enjoy the benefits of having a second passport from Portugal and living your remaining years in peace.
Another advantage of having a second passport from Portugal is that in some cases you can pay less taxes than you normally would. To begin with, Portugal has some of the fewer tax regimens for residents all across Europe.As of today, Portugal has a program called the Non-Habitual resident taxation regime, in which Portuguese residents and second passport holders that qualify can receive substantial tax benefits.
Please send us a message and we will discuss the Non-Habitual resident taxation regime with you. The tax program can get to be a tad complicated, so please talk to one of our professionals and we can guide you through the whole process.
So if you like saving money on taxes, retiring in a cost free country in Europe, having almost unlimited access to most countries across the world, then having a second passport in Portugal is the right thing for you to do.