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What are the Benefits of Having an EU Passport?
News -> December 10, 2019
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The European Union (EU) is one of the world’s steadiest, most secure supranational blocs. It is a political, economic, and social entity, binding 27 countries in common and shared policies across several sectors. The EU was founded on a single market, guaranteeing the citizens of every participating country the same freedoms: movement, goods, capital, and services.
25 out of 27 EU Countries, plus the 4 European Free Trade Association (EFTA), collectively make up the Schengen Zone, allowing its citizens to enjoy the freedom of movement to its fullest extent. In other words, the greatest benefit of the EU passport is that it unlocks the unrestricted right to live, work, and retire in any other country. However, it is far from the only one EU passport benefit.
Here are the Top 5 Benefits of Holding an EU Passport
1. Increased Global Mobility
Besides not being bound to the Schengen 90/180-Day Rule, EU/EFTA Citizens are also able work, permanently settle down and reside indefinitely in the other Schengen countries. However, it does not end there. Many of the EU countries have excellent international standing and diplomatic relationships with other countries, reflecting in a higher degree of global mobility. Â
According to the Global Passport Index, which tracks changes to a passport’s power in real-time, Portugal currently holds the World’s 4th Most Powerful Passport. This allows Portuguese citizens to enter 175 countries visa-free.
2. Do Business Anywhere Else in the European UnionÂ
Besides the freedom of movement, EU Citizens have the right to freedom of capital, goods, and service. In other words, EU passport holds have the benefit of being able to create and register a new company in any of the EU countries, and fully operate in the larger, single market, allowing for more investment and financial opportunities.
3. Higher Quality of Life
Not all countries are able to become members of the EU. The bloc only allows certain countries to join if they meet certain criteria, including having high standards of living, a strong economy, and practice and implementation of universal human rights. Therefore, all EU countries have a higher quality of life main indicators, including healthcare, education, and safety.
Portugal, in particular, is the 7th Safest Country in the World, it has a universal, public healthcare system, and some of the best schools in Europe across all levels of education, starting from elementary, all the way up to university. The tuition prices in Portugal are also some of the lowest in Europe.
4. Dual Citizenship
Except for a few countries, like Norway and Austria, most countries within the EU accept its Citizens holding a second or third citizenship. With this EU passport benefit, you will not have to give up your original citizenship status, and can have 2 passports, or more, at your disposal.
Alternatively, some EU countries, Portugal included, have Residency by Investment programs, like the Golden Visa. This program enables both Citizenship, and Permanent Residency after 5 years of living in Portugal, allowing citizens from countries not accepting Dual Citizenship, like China or India, to get lawful status in Portugal without having to give up their original passport.
5. Leaving a Legacy for Your Descendants
Most European Union countries award their nationality on the basis of jus sanguinis - meaning its Citizenship status is obtained from a blood tie to the country, usually in the form of a direct ancestor, like a parent or grandparent, who is originally from said country.
By getting Portuguese citizenship, you are ensuring that your children and grandchildren can become Portuguese citizens themselves, even if they are citizens from another country.
Portugal: The Best Country for all the EU Passport Benefits
Portugal is a full-fledged member of the European Union, having joined the bloc alongside Spain in 1986. It further solidified its European position when it signed the Schengen Agreement in 1991, and achieved full integration into the single market when it joined the Euro, the EU common currency, in 1999. Therefore, Portugal adheres to all the high standards set by the European Union. Â
You can come to enjoy all the benefits of the EU passport with Portuguese citizenship. With a Portuguese passport in hand, you and your family gain can take advantage of the country’s affordable healthcare system, clean air quality, a sunny weather with over 300 days of sunshine. You will also be able to guarantee your children receive a top-quality education in many of Portugal’s excellent schools and higher education institutions.
Among the possible paths to obtain the Portuguese passport, the fastest is through Residency by Investment programs, like the D2 Visa. These types of programs award Residency status – a necessary step toward Citizenship, placing you one step ahead in the process of getting an EU passport and its benefits.
Portugal Homes is more than a Real Estate agency. We make sure your dreams come true. Besides properties for sales, we specialise in Residency by Investment programs, and facilitate our global clientele with a path toward EU Citizenship with programs like the Golden Visa and the D2 Visa. Contact us today to find out more how to get Portuguese citizenship and an EU Passport.
Portugal Homes
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