What do you know about HQA Residence program of Portugal? In articles about Portugal residence permit for investors, in 90% of cases only the Golden Visa is mentioned. Moreover, this program has long been irrelevant. Firstly, because of the bureaucratic crisis, when local officials tried to transfer the authority to consider applications from the SEF to another department. Because of this reform, the Portugal Golden Visa program was on pause for six months. Secondly, due to the fact that local officials “blame” the program for issuing a residence permit in Portugal for real estate in the rise in prices on the market. As a result, they want to either completely cancel this program or make significant changes. Thirdly, the European Commission is clearly negative about the “golden visas” in general. So, is it worth considering Portugal now for those investors who want to get a residence permit there? Yes, Portugal is an interesting option. Dual citizenship is allowed here, there are tax benefits for new residents. But instead of the “Portugal Golden Visa”, we recommend that you pay attention to the HQA Residence program for entrepreneurs.
According to the requirements, candidate may obtain a HQA Residence permit on the following grounds:
- Employment contract with a local company
- Service agreement for the provision of services.
- Special partnership agreement.
We propose the third option. A partnership agreement is signed either with a business incubator or with one of the universities in Portugal. The total cost of the turnkey design is €170,000.
The residence permit of Portugal, HQA Residence, gives the right to reside in this country, as well as visa-free entry to all countries of the Schengen area (90 days every half a year).
HQA Residence program. Requirements
- Be a citizen of a third State (non-UE) and not permanently resident in the European Union.
- Be at least 18 years of age.
- Have no criminal records.
Among the necessary documentation are:
- Health insurance with insurance payments of at least 35,000 euros, with worldwide coverage for a period of at least 120 days from the date of entry. The insurer must be European.
- Utility bill at the address of permanent registration.
- Bank statement for six months (not older than 1 month).
- A rental agreement for housing in Portugal for 1 year and payment under such an agreement for 6 months. Please, request the full list of required documentation from APEX.
HQA Residence program. Processing
The entire processing from the start to the issuance of a residence permit in Portugal, HQA Residence, takes 3-6 months. After obtaining a residence permit by the main applicant, it is possible for dependent family members to join. Spouse, parents, children (even unmarried adults can be issued).
At the first stage, a residence permit is issued for 2 years, then extended. In total, subject to the conditions, HQA Residence under this program can be kept for 5 years.
Citizenship of Portugal
If you plan to live in Portugal (the main part of the year), you will be able to apply for citizenship after 5 years. In this case, the application is reviewed by the Ministry of Justice of Portugal. You will need to pass an elementary level Portuguese language test. Please note that the HQA Residence program is primarily about the opportunity to obtain a residence permit in Portugal. And it does not guarantee the subsequent acquisition of citizenship.
