Portugal is soon becoming the new favourite of Indians. India is among the top five countries to have been granted visas for Portugal. According to American Bazaar, there was an 87 percent increase in the golden visa grants to Indians in 2020. The number is said to rise further with the new agreement between the two countries.
Portugal Golden Visa
A Portugal Golden Visa allows for residency and work in the European country and an access to the whole area of the European Union. It is an alternative and easy entry to the continent. It asks for a presence in the country for a minimum of seven days a year and an investment in the Portugal soil from non-EU residents. Further, it fast tracks the citizenship process as one can be eligible for Portuguese citizenship in as little a duration as five years, which then subsequently grants access to healthcare and high class education standards of the European Union
While 60 percent of these visas were granted to citizens of Brazil and China, India is rising up in the ranks, American Bazaar reported.
India & Portugal Ready to Sign a New Agreement
Not just well heeled Indian families, but also Indian skilled labour can now get easy access to Portugal. With the new agreement, approved last week, India and Portugal will sign something on the lines of migration partnership and thus the South European country will open doors to migrant workers from India in the EU.
According to the MEA, a formal agreement will allow for recruitment of Indian workers in Portugal and thus open new opportunities for Indian workers who had to come back home as the pandemic gained momentum.
This government-to-government agreement will elasticise the free and smooth movement of workers internationally, and will boost opportunities for Indian workers.
The Times of India reported that this provision will allow the high net worth investors already on a golden visa to bring in Indian workers and set up work in Portugal. Job opportunities are likely to be available in the IT, construction, and real estate sectors.
Portugal was named 21st in the 2021 Best Countries ranking and as the fourth most peaceful country in the world as per GPI 2021, American Bazaar reported.
(With inputs from Times of India and Shilpa Menon, Senior Director – India, LCR Capital Partners via The American Bazaar.)
(At The Quint, we are answerable only to our audience. Play an active role in shaping our journalism by becoming a member. Because the truth is worth it.)