God, this Schengen zone is such an amazing hack in EU. Freedom of movement gives you soooo much upside. Basically get the resideny in the easiest country and spend time wherever you want. Awesome! 😄
Portugal only allows to be absent from the country/Schengen zone for 8 month total per residence card validity period (it's 2 and then 3 years), and not more than 6 months consecutively. Which means minimum stay would be 8-10 months per year. It's fine if you don't need or want to leave the Schengen zone often, but not ideal if you do, and still can't afford the golden visa.
The rules do not say "Portugal/Schengen" the rules say "leaving national territory" which I believe means (I'm not a lawyer) Portugal. So no, leaving Portugal for more the 4 months a year will risk your Temporary Resident Permit.
RESIDENCE PERMIT IN LATVIA Under Immigration Act foreign investors may apply for residence permit in Latvia. In order to qualify for the residence permit one has to: 1) invest Euros 50k or more in the share capital of a Latvian company, or 2) purchase real estate in Latvia for min. 250k, or 3) invest at least Euros 280k into subordinated capital of a Latvian bank for five years, or 4) purchase Latvian government bonds of min. Euros 250k. Principal benefits: Spouse, children under 18, and dependents of the investor qualify under investor's application. Investor and his family members are allowed, but not obliged to live and work in Latvia. The residence permit allows visa-free travel to all Schengen Zone states. Latvia imposes no residency requirements on holders of Latvian residence permits. Applications for the residence permits are considered within 5-30 days depending on amount of application fee paid.
I think you should perhaps relook at this solution - The immigration office in Portugal may now want to view bank statements to show that you actually lived within Portugal for the required months.
@@chiragforu I'm not a fan of this advice. You would be risking your resident permit because you think they may not have all the bank records? We don't know what they are looking at.
The rules of the Portugal Temporary Resident Permit say you must be in Portugal 8 months of the first two years. Not Schengen, not the EU, you must be in Portugal.
1. If you trade crypto, would it be qualified as self-employed income? 2. Would you be taxed on it or tax exceptions only available for golden visa holders? 3. What minimum number of days you have to stay in Portugal under self-employed visa?
So crypto actually has special tax treatment in Portugal, they don't tax crypto gains, which is awesome. Golden visa actually has nothing intrinsically to do with special tax treatment it's qualifying for the NHR, which you can apply for if you weren't previously a resident of Portugal. Which visa specifically are you referring to?
@@MichaelRosmer That's awesome about taxes. I was referring to any sort of self-employment visa in Portugal (it's probably more than one). So if I incorporate mini hedge fund somewhere in Cayman Islands (or whatever similar) which specializes in long term investing in crypto, can I qualify to self-employment visa? What's about years I don't have income (since it's long term investing), can I just pay from fund's reserves? And for how many days I have to reside there to maintain such self-employment visa? It's quite tough to have place in the world where I can just "be there" without being enslaved by any employment, freelance and shit like that.
@@libertarianspirit this gets quite complicated so we'd want to discuss it to go over your specific case but in short Portugal has a blacklist of countries that makes using most very low tax countries a problem so the Cayman option probably wouldn't work well.
@@MichaelRosmer Wow, they are quite aggressive with blacklisting. Also, probably I wouldn’t need to spend 50k usd there just for incorporating hedge fund even if I will have 1M to spare. It should would be very lightweight structure. Anyway, I might not be able to figure that out myself. So I would need your help when I’m ready.
Great video. Nice office. I personally categorize residency programs into two categories: 1. Right for residency: Like Portugal in which they won't force you to be physically there nor to be tax resident. 2. Mandatory residency: Like Latvia, Slovakia and Czechia which you mentioned and they force you to be physical resident or tax resident. I think the time has come to make new words in the space for people to understand the nuances. What do you think about this Michael?
Good presentation Micheal.. I have been following about D7 visa and now I would like to apply for it. Please let me know the possible ways to connect with you in person.
Michael, I love the content. I've been deep diving and can't seem to sort out this type of visa (Portugal) that allows "residency" and travel in the Schengen from the options to set up a business in a country to achieve the same thing. As an American, I'm going to get hit with taxes no matter where I reside - but I believe I can shelter over $100K via the foreign earned income exclusion. Could I just have my company US-based entity pay me as a consultant (or even pay me dividends or interest) and use this revenue stream to set-up shop in Europe? Even 10-15% personal taxes would be better than US tax rates. My goal is to be able to travel freely in Europe long-term and perhaps reduce my overall tax rate.
Just read your note here. The 100k+ exemption is only for earned income. Dividends are not considered earned so you would still owe full US tax anywhere you live.
Hi have just subscribed i found your video very helpful. Thank you. Can i ask please my hubby and i want to move to Portugal in a few years. I am retired and will have a pension of 12.000 euros a year. My hubby doesn't retire for another 2 yrs when we move. He has a work pension of 10.000 euros and we will have a lot of savings to cover him for 2yrs and will have alot of savings left. Do you think we stand a chance of getting the D7 Visa? Thank you for your time
Hello, glad you found it helpful. Yeah you guys definitely should be able to qualify, the amount that you mentioned is more than enough. The minimum requirement is around 9000€ per year for the first person, and slightly less for the second person.
very bad mistake. you can't live everywhere in the EU with a Portugal residency. Yes there are no borders here, but when you rent, they will ask your passport, which will be registered, and they will ask your local residency, so you can't just go to greece for a year.
@@MichaelRosmer I'm seeing conflicting information over the internet. Other sites say income has to be passive but authorities sometimes accept active income when the person is also able to show decent amount of savings. And they say most business owners can restructure their income for it to appear passive for the authorities (like removing themselves from the director position (and any other position) in their own company etc).
@@MichaelRosmer that should depend on which consultate you apply at (or if you're applying directly in Portugal). It's fairly easy in western countries consultates or with applicants with US/CA passports, I have no doubt.
Hello Michael, awesome video. Question: I have my own business, could my parents qualify as retirees if I send them money (more than the required amount) monthly?
So, If I am EU citizen, I can get residency in PT, after some time I go to other countries in EU or outside EU and live for 5 years there. After that I can apply for permanent residency in PT and be eligible for Portuguese citizenship ? Or they will check if I was present in Portugal for minimum 183 days per year?
Traveling outside Portugal during the residency period is taking a risk. If this is your advice, I would like to know your sources, please. The regulations are clear, that you are required to reside in Portugal, not anywhere in the Schengen. This advice seems dangerous. How do they check for residency? I do not want to risk getting rejected because of this advice. Please provide documentation or more details regarding this advice.
You are allowed to travel outside of Portugal 8 months of the first two years, and then 8 months of the next three years. What you implied is that you can ignore that and travel in the Schengen all you want, which is risky advice to give.
@@CraigandJoan we've done videos talking about this. There's on paper and there's practice. In practice you need to be in the Schengen zone. On paper you need to be much more in Portugal. The thing is they can't tell so it's not a significant risk but technically you're right
Hi Michael, i just found you on YT. Great videos and info in your web, so u got a new subscriber. I have a question about the D7 visa. I am checking many options to get a residence permit abroad, combined with my online business and also with the chance to take out my mom from Venezuela. Yes, my passport is Venezuelan. I had been a digital nomad in the past 5 years and the Spain Non lucrative Visa was my first idea but the high taxes pushed me down, so now Portugal is an option. About requirements i think won't be a problem but my concern is about the taxes from foreign income. I am travel designer and also a kind of European holidays trips package organizer for people from all Latin America, so, my income come from different countries, from Mexico to Chile. Do you think i can qualify for a NHR Visa? If not, they will tax me for the foreign income at a normal rate right? Thanks in advance!!
You can 100% qualify for the NHR the question is what the tax consequences will be as the NHR has a range of benefits. They still tax earned income on the NHR but at lower rates (20%). If you can manage it the best value is on foreign dividends from certain countries, which can be tax free.
@@MichaelRosmer Thanks! Yes, i am ok with the 20% tax. What do you think about Montenegro option creating a company like mine there? Maybe focusing more in the Balkans like a holiday destination.
@@iwasthere01 yeah if you like it there it's a decent option but whether you can do business through the company depends on the nature of your business.
So wait I am going to move to Portugal on the D7 visa sometime this summer. I want to get Portuguese citizenship after 5 years. Are you saying that I could get the visa and then go live somewhere else in the EU, say Spain, France, Germany, etc... and still be putting in the necessary time to get citizenship in Portugal? How do they check if I am actually living in Portugal?
On D7 visa how much time can I leave Eu and come back again I am basically in germany but if you leave for 6 months with permenant residence they cancel you visa if you have thoughts about places that do not
I am confused about your saying I could get a residency visa in Portugal but then live anywhere in Schengen. I do get my passport checked for high speed rail. Wouldn't Portugal be made aware of my absence?
Is it easy for Indians to get a D7visa for Portugal? Do we need to speak Portuguese in that country or can manage with English. Kindly reply. Thanks in advance.
Hey, If I apply for D7 visa I need 6 months to be inthe country to be eligible to apply for citizenship. But after 2 years I decide that I don't want to live in the country for 6 months every year and apply for golden visa. Will the 2 years of residency count towards the citizenship?
I am an working indian citizen of India. Can I apply for a Portugal Visa? Is there any provision for PR for a retired Indian citizen willing to invest and live in Portugal?
Send us an email www.offshorecapitalist.com and we'll go through it with you because it depends on what all aspects you need there are lots of different options
I don't know Andrew personally so I can't speak to that. I've got clients who have dealt with him and have their own opinions that I won't mention as I rather not share third hand comments I'm sure you can google any personal experiences people have had. . From my view he's done a great job marketing he's been ahead of the curve on TH-cam and has clearly gotten himself out there so good on him for that. Back many years ago when he wasn't in the business of helping people but was just blogging I used to be critical of some of the information he was sharing but from what I've seen over the last few years he's improved quite a bit so again good on him for that. I'm not exactly sure the areas he focuses on. From what I can tell he's got a bunch of experience buying real estate in different countries and can probably help people quite a bit in that regard in certain countries. I don't think he's a tax and structuring expert from what I understand and from what I've heard he's got a pretty high entry point business model but that's just my impression or what I've heard nothing from personal experience. I have nothing against the guy, I'm sure he'll do well for himself.
@@MichaelRosmer Thanks for sharing! Yeah I've read a few reviews online and a lot seem pretty negative. And his entry point seems very excessive. Especially considering that her hires/exploites low paid staff from Serbia, Montenegro and Georgia. Great channel btw. You come across very honest and straightforward. Thanks again.
@@MichaelRosmer that's a very very diplomatic answer ;) Anyway keep up the great work Michael, I really enjoy your videos and they are actually really practical. Whereas Andrews videos are mostly hyped up marketing garbage with almost zero useful info.
@@OffshoreCitizen type of Visa : In economically stable country. Easy travels in schengen area. No tax Not required to stay in the country . Not costing more than 300k if it's golden visa.
God, this Schengen zone is such an amazing hack in EU. Freedom of movement gives you soooo much upside.
Basically get the resideny in the easiest country and spend time wherever you want. Awesome! 😄
Yeah except if you don't have a visa and want to spend more time across the countries then it's annoying
Portugal only allows to be absent from the country/Schengen zone for 8 month total per residence card validity period (it's 2 and then 3 years), and not more than 6 months consecutively. Which means minimum stay would be 8-10 months per year. It's fine if you don't need or want to leave the Schengen zone often, but not ideal if you do, and still can't afford the golden visa.
The rules do not say "Portugal/Schengen" the rules say "leaving national territory" which I believe means (I'm not a lawyer) Portugal. So no, leaving Portugal for more the 4 months a year will risk your Temporary Resident Permit.
@@CraigandJoan yes but you know there are no borders and nobody checks, so that gives a bit of freedom
Appreciate your work flow and quality of analysis. Keep up the great work Michael!
Thanks!
RESIDENCE PERMIT IN LATVIA
Under Immigration Act foreign investors may apply for residence permit in Latvia. In order to qualify for the residence permit one has to:
1) invest Euros 50k or more in the share capital of a Latvian company, or
2) purchase real estate in Latvia for min. 250k, or
3) invest at least Euros 280k into subordinated capital of a Latvian bank for five years, or
4) purchase Latvian government bonds of min. Euros 250k.
Principal benefits:
Spouse, children under 18, and dependents of the investor qualify under investor's application.
Investor and his family members are allowed, but not obliged to live and work in Latvia.
The residence permit allows visa-free travel to all Schengen Zone states.
Latvia imposes no residency requirements on holders of Latvian residence permits.
Applications for the residence permits are considered within 5-30 days depending on amount of application fee paid.
Very well explained. Great communication skills . To the point
I think you should perhaps relook at this solution - The immigration office in Portugal may now want to view bank statements to show that you actually lived within Portugal for the required months.
I am interested to know what the checks are to prove you were in Portugal for 6 months per year too, can you clarify this Michael?
use the same bank account, the transactions don't have the location really. they wont know
@@chiragforu I'm not a fan of this advice. You would be risking your resident permit because you think they may not have all the bank records? We don't know what they are looking at.
Your videos are informative and I like how you say aboot.
Thank you!
For Portugal D7, u need to stay in EU for more than 6 months each year , right
The rules of the Portugal Temporary Resident Permit say you must be in Portugal 8 months of the first two years. Not Schengen, not the EU, you must be in Portugal.
1. If you trade crypto, would it be qualified as self-employed income?
2. Would you be taxed on it or tax exceptions only available for golden visa holders?
3. What minimum number of days you have to stay in Portugal under self-employed visa?
So crypto actually has special tax treatment in Portugal, they don't tax crypto gains, which is awesome.
Golden visa actually has nothing intrinsically to do with special tax treatment it's qualifying for the NHR, which you can apply for if you weren't previously a resident of Portugal.
Which visa specifically are you referring to?
@@MichaelRosmer In depth response. Thank you Michael.
@@MichaelRosmer That's awesome about taxes. I was referring to any sort of self-employment visa in Portugal (it's probably more than one). So if I incorporate mini hedge fund somewhere in Cayman Islands (or whatever similar) which specializes in long term investing in crypto, can I qualify to self-employment visa? What's about years I don't have income (since it's long term investing), can I just pay from fund's reserves? And for how many days I have to reside there to maintain such self-employment visa? It's quite tough to have place in the world where I can just "be there" without being enslaved by any employment, freelance and shit like that.
@@libertarianspirit this gets quite complicated so we'd want to discuss it to go over your specific case but in short Portugal has a blacklist of countries that makes using most very low tax countries a problem so the Cayman option probably wouldn't work well.
@@MichaelRosmer Wow, they are quite aggressive with blacklisting. Also, probably I wouldn’t need to spend 50k usd there just for incorporating hedge fund even if I will have 1M to spare. It should would be very lightweight structure. Anyway, I might not be able to figure that out myself. So I would need your help when I’m ready.
Great video. Nice office.
I personally categorize residency programs into two categories:
1. Right for residency: Like Portugal in which they won't force you to be physically there nor to be tax resident.
2. Mandatory residency: Like Latvia, Slovakia and Czechia which you mentioned and they force you to be physical resident or tax resident.
I think the time has come to make new words in the space for people to understand the nuances. What do you think about this Michael?
Yeah great distinction.
It's also useful to know how much time you need to spend there.
Portugal absolutely requires to be physically present under the D7. 8 of the first 24 months, and 8 of the 36 months.
@@CraigandJoan Yes, exactly. I was talking about the previous program that right now ceased to continue.
Good presentation Micheal..
I have been following about D7 visa and now I would like to apply for it. Please let me know the possible ways to connect with you in person.
Hi Michael, Thanks for educating us a great deal. How do we collaborate with you in offering these solutions to our clients?
Your channel is a great antidote to the "7 and 8 figure" arrogant cuss channel.
AGREE, he is a little bit over the top arrogant, isn't he
Michael, I love the content. I've been deep diving and can't seem to sort out this type of visa (Portugal) that allows "residency" and travel in the Schengen from the options to set up a business in a country to achieve the same thing. As an American, I'm going to get hit with taxes no matter where I reside - but I believe I can shelter over $100K via the foreign earned income exclusion. Could I just have my company US-based entity pay me as a consultant (or even pay me dividends or interest) and use this revenue stream to set-up shop in Europe? Even 10-15% personal taxes would be better than US tax rates. My goal is to be able to travel freely in Europe long-term and perhaps reduce my overall tax rate.
Just read your note here. The 100k+ exemption is only for earned income. Dividends are not considered earned so you would still owe full US tax anywhere you live.
Hi have just subscribed i found your video very helpful. Thank you. Can i ask please my hubby and i want to move to Portugal in a few years. I am retired and will have a pension of 12.000 euros a year. My hubby doesn't retire for another 2 yrs when we move. He has a work pension of 10.000 euros and we will have a lot of savings to cover him for 2yrs and will have alot of savings left. Do you think we stand a chance of getting the D7 Visa? Thank you for your time
Hello, glad you found it helpful.
Yeah you guys definitely should be able to qualify, the amount that you mentioned is more than enough.
The minimum requirement is around 9000€ per year for the first person, and slightly less for the second person.
very bad mistake.
you can't live everywhere in the EU with a Portugal residency. Yes there are no borders here, but when you rent, they will ask your passport, which will be registered, and they will ask your local residency, so you can't just go to greece for a year.
More T shirts man. You look sharp in them.
Hi, does the D7 only apply to passive income or can savings be used to satisfy criteria?
It's based on income not saving but the income doesn't need to be passive
@@MichaelRosmer I'm seeing conflicting information over the internet. Other sites say income has to be passive but authorities sometimes accept active income when the person is also able to show decent amount of savings. And they say most business owners can restructure their income for it to appear passive for the authorities (like removing themselves from the director position (and any other position) in their own company etc).
@@alexbosTV in practice virtually all income will qualify so long as it isn't from Portuguese work.
@@MichaelRosmer that should depend on which consultate you apply at (or if you're applying directly in Portugal). It's fairly easy in western countries consultates or with applicants with US/CA passports, I have no doubt.
Yes!
Hello Michael, awesome video. Question: I have my own business, could my parents qualify as retirees if I send them money (more than the required amount) monthly?
Depends on their age, usually not
So, If I am EU citizen, I can get residency in PT, after some time I go to other countries in EU or outside EU and live for 5 years there. After that I can apply for permanent residency in PT and be eligible for Portuguese citizenship ? Or they will check if I was present in Portugal for minimum 183 days per year?
Traveling outside Portugal during the residency period is taking a risk. If this is your advice, I would like to know your sources, please. The regulations are clear, that you are required to reside in Portugal, not anywhere in the Schengen. This advice seems dangerous. How do they check for residency? I do not want to risk getting rejected because of this advice. Please provide documentation or more details regarding this advice.
You're absolutely allowed to travel outside Portugal during the residency period
You're not allowed to live abroad but travel yes
You are allowed to travel outside of Portugal 8 months of the first two years, and then 8 months of the next three years. What you implied is that you can ignore that and travel in the Schengen all you want, which is risky advice to give.
@@CraigandJoan we've done videos talking about this. There's on paper and there's practice. In practice you need to be in the Schengen zone. On paper you need to be much more in Portugal. The thing is they can't tell so it's not a significant risk but technically you're right
is Portugal the only country that offers this program?
Various countries have variations but we find this one is the best for many people.
Hi Michael, i just found you on YT. Great videos and info in your web, so u got a new subscriber. I have a question about the D7 visa. I am checking many options to get a residence permit abroad, combined with my online business and also with the chance to take out my mom from Venezuela. Yes, my passport is Venezuelan. I had been a digital nomad in the past 5 years and the Spain Non lucrative Visa was my first idea but the high taxes pushed me down, so now Portugal is an option. About requirements i think won't be a problem but my concern is about the taxes from foreign income. I am travel designer and also a kind of European holidays trips package organizer for people from all Latin America, so, my income come from different countries, from Mexico to Chile. Do you think i can qualify for a NHR Visa? If not, they will tax me for the foreign income at a normal rate right? Thanks in advance!!
You can 100% qualify for the NHR the question is what the tax consequences will be as the NHR has a range of benefits. They still tax earned income on the NHR but at lower rates (20%). If you can manage it the best value is on foreign dividends from certain countries, which can be tax free.
@@MichaelRosmer Thanks! Yes, i am ok with the 20% tax. What do you think about Montenegro option creating a company like mine there? Maybe focusing more in the Balkans like a holiday destination.
@@iwasthere01 yeah if you like it there it's a decent option but whether you can do business through the company depends on the nature of your business.
So wait I am going to move to Portugal on the D7 visa sometime this summer. I want to get Portuguese citizenship after 5 years. Are you saying that I could get the visa and then go live somewhere else in the EU, say Spain, France, Germany, etc... and still be putting in the necessary time to get citizenship in Portugal? How do they check if I am actually living in Portugal?
No, Portugal requires you to be in Portugal 8 months of the first two years and 8 months of the next three years.
On D7 visa how much time can I leave Eu and come back again I am basically in germany but if you leave for 6 months with permenant residence they cancel you visa if you have thoughts about places that do not
The first year isn't so bad but after you renew is the issue because you can't spend more than 6 months out in 2 years
Hi Michael, thanks for video, with this D7 visa can my children go to public schools in Switzerland?
No
I am confused about your saying I could get a residency visa in Portugal but then live anywhere in Schengen. I do get my passport checked for high speed rail. Wouldn't Portugal be made aware of my absence?
In most cases you don't go through customs when crossing borders within Schengen
Hey Michael just hit the subscribe button, videos look good 👍, I'm 50 with 15 yrs of corporate experience. Is it possible I get a job. Plz suggest me
Is it easy for Indians to get a D7visa for Portugal? Do we need to speak Portuguese in that country or can manage with English. Kindly reply. Thanks in advance.
Yes it is easy. No you don't need to speak Portuguese
@@MichaelRosmer Thanks!
How about work? Can I get a Portuguese residency and get a job in Netherlands, France, or any other Schengen country?
No
Hey, If I apply for D7 visa I need 6 months to be inthe country to be eligible to apply for citizenship. But after 2 years I decide that I don't want to live in the country for 6 months every year and apply for golden visa. Will the 2 years of residency count towards the citizenship?
Yes
Hello, is this possible to do with children? I would like to semi retire early (43yr) but have a 5yr old, can we both get residency?
Yes you can bring your children
I am an working indian citizen of India. Can I apply for a Portugal Visa? Is there any provision for PR for a retired Indian citizen willing to invest and live in Portugal?
If you've got enough income then yes definitely
How can I apply for that D7 visa am from Sierra Leone 🇸🇱?
Contact us and we can help you. The process starts in a foreign embassy.
Am interested in d7 program please can you be my guidance to Europe please
Hi how can I apply to the d7 visa residence and how much it will cost for one person and 2 sons .
Send us an email www.offshorecapitalist.com and we'll go through it with you because it depends on what all aspects you need there are lots of different options
Can I go to school in another Schengen Zone country?
No
lol
I got ciztenship for usa im from México
Just out of curiosity, what's your opinion on Andrew Henderson and nomad capitalist?
He seems to be all over the net with very slick videos
I don't know Andrew personally so I can't speak to that. I've got clients who have dealt with him and have their own opinions that I won't mention as I rather not share third hand comments I'm sure you can google any personal experiences people have had. .
From my view he's done a great job marketing he's been ahead of the curve on TH-cam and has clearly gotten himself out there so good on him for that.
Back many years ago when he wasn't in the business of helping people but was just blogging I used to be critical of some of the information he was sharing but from what I've seen over the last few years he's improved quite a bit so again good on him for that.
I'm not exactly sure the areas he focuses on. From what I can tell he's got a bunch of experience buying real estate in different countries and can probably help people quite a bit in that regard in certain countries. I don't think he's a tax and structuring expert from what I understand and from what I've heard he's got a pretty high entry point business model but that's just my impression or what I've heard nothing from personal experience.
I have nothing against the guy, I'm sure he'll do well for himself.
@@MichaelRosmer Thanks for sharing!
Yeah I've read a few reviews online and a lot seem pretty negative.
And his entry point seems very excessive. Especially considering that her hires/exploites low paid staff from Serbia, Montenegro and Georgia.
Great channel btw.
You come across very honest and straightforward.
Thanks again.
@@atlaszane thanks
@@MichaelRosmer that's a very very diplomatic answer ;)
Anyway keep up the great work Michael, I really enjoy your videos and they are actually really practical. Whereas Andrews videos are mostly hyped up marketing garbage with almost zero useful info.
I think he ' s gay ...
Is 5 years the shortest route to PR in EU ?
Depends, it can be faster by investment
I destroyed the subscribe button , now not able to watch your videos again 😅
Lol thanks for the support, appreciate it!
Anything you'd like to see next?
@@OffshoreCitizen type of Visa :
In economically stable country.
Easy travels in schengen area.
No tax
Not required to stay in the country .
Not costing more than 300k if it's golden visa.
@@OffshoreCitizen can you help me to find the suitable type ?
@@user-FM1 sure please contact us