Family Background
Arjun & Hina, originally from India, moved to Singapore ten years ago. They have applied twice for Singapore permanent residency, despite their well-paid jobs and academic qualifications, they have been rejected for PR both times. Arjun works for Facebook and Hina works for PWC. They have two children, aged 15 and aged 9. Both daughters were born in Singapore, and are growing up as third culture kids.
Decision factors
They are unlikely to return to India in the long term. Consequently, the family are seeking a long-term secure option which gives them optionality and can allow them to continue living in Singapore for their prime, earning years. Their friends have told them the Portugal citizenship by investment program gives them the right to live, retire and access the education and healthcare system for free in Portugal for the first five years, then these rights extended to all 27 EU countries. They feel this gives them far more permanent rights they can enjoy in the long-term than Singapore can provide. The ability for their children to grow as EU citizens and access top tier European universities is a strong draw to the program.
They have had two friends who embarked on the Portuguese Golden Visa scheme in 2019 & 2021. Arjun & Hina have a net worth of USD 2.5m and despite the high cost of living in Singapore, they have good disposable income. They have the money and motivation so they decided to invest in a Golden Visa eligible hotel unit in the Algarve, Portugal worth €280,000. Their investment pays a 3% per year yield and has a guaranteed developer buyback after they have achieved their citizenship from year six. It took around six months and a number of discussions with friends and a professional advisor he provides the legal advice required before making the decision to embark on the Portugal citizenship by investment program.
Professional Advice
The implementation process began with Arjun & Hina requesting professional advice from an advisor who sourced a suitable property which meets the requirements of the Golden Visa program. Once they committed to the unit, a Portuguese law firm was used to make the purchase, after the cash purchase was completed, the couple received title deed, showing gate own, Golden Visa eligible property.
The law firm then submitted the Golden Visa application along with all the required documentation, including their passports, proof of the property purchase, and police clearance certificates. They included their two children on the application as dependents.
Once the application was submitted then reviewed by the Portuguese government it took 9 months to approve. Arjun & Hina were then granted a residency permit for an initial period of two years. After five years of holding the Golden Visa, they are eligible to apply for Portuguese citizenship.
With a golden Visa, they are able to live, work, and study in Portugal and travel freely within the Schengen Area. Their children would also have the same rights and benefits and would be able to attend school in Portugal.
