With the ongoing quarantine restrictions, it can often feel as though the world has come to a standstill. Yet in this odd suspended reality feeling, things are actually changing quite quickly. Just days ago the long-awaited BREXIT deal was finally signed. On January 1st, 2021, the European Union will formally lose one of its long-standing members – The United Kingdom.
This often polarising split is expected to bring about stirring changes within the United Kingdom and ricochet those across Europe and the rest of the world.
Changes no one will fully understand until a new normal is arrived at from a political, economic, and social perspective and there’s also the pesky bug of COVID to add to the lot.
One of the most immediately and acutely affected groups of BREXIT however will be British citizens who currently live, or want to live, invest and travel outside the UK.
Fortunately Portugal’s relationship with the UK is a historic one, travelled over many centuries and this transition is being planned by Portugal mostly as just another bump in time. Not insignificant of course but one to be worked through and planned accordingly.
To move in this direction and facilitate the transition Portugal has dedicated a SEF (immigration) website just for BREXIT and British Nationals needing to Exchange Residency Documents.
The timeline to submit your application is December 31st, 2020, if you haven’t begun the process. Time is ticking.
If you are a British National and still working on your overseas investment plan, so not yet ready, you can still consider Portugal through a Portuguese Golden Visa. But, time horizons for Golden Visa’s in Portugal are being discussed so waiting too long may not be in your best interest.
If you are serious about a move or investment in Portugal we recommend you start planning sooner than later, so you have the valuable information you need to make a smart decision in time. And if and when you need help, talk to us.