Billionaire Roman Abramovich, who was in 12th place on the list of the richest Russians this year, became a citizen of Portugal. According to the representative of the businessman, Abramovich received a new passport thanks to the law of return, which allows the descendants of Sephardic Jews and Jews forcibly converted to Christianity to obtain citizenship. Roman Abramovich automatically became the richest citizen of Portugal – this year his fortune is estimated at $ 14.5 billion, which is three times more than the leaders of the Portuguese Forbes list. It is headed by the heirs of the businessman Ameriko Amorim, a natural wine cork manufacturer and co-owner of the oil company Galp Energia.
There are obvious reasons why wealthy and forward-looking people choose Portugal. The Portuguese tax system provides attractive opportunities in relation to wealth, gift and inheritance taxes as well as business and rental income, capital gains, dividends, interest and pensions. The low taxation under the regime for non habitual residents, the free remittance of funds, the easily available residence permit regime (allowing for free movement within the Schengen zone) and the possibility to get Portuguese citizenship in 5 years make Portugal a very attractive location.
There are several ways you can get Portuguese resident status too and enjoy the perks described above. It depends on the source of your income and your will to invest or start a business in Portugal. Feel free to check out which way is easier and more perspective for you, regardless of your choice we are ready to guide you through this journey.