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By VERDY MICHEL 23 December, 2022 News, Newsletter, Portugal

Christmas traditions in Portugal

Christmas is the most celebrated holiday in Portugal, one that has become more cultural than religious. Christmas traditions in Portugal have been for many decades set in stone and passed on, while in recent years, many have had to adapt some for convenience and affordability.

The Portuguese celebrate Christmas on December 24 and 25, with Christmas eve being the main celebration. On January 6, another celebration is quite common to bring about the end of the Christmas season. Let’s take a look at the Christmas traditions in Portugal!

Christmas Eve in Portugal

While in other countries Christmas day is the most important celebration, this isn’t the case in Portugal. Christmas eve on December 24th is the main day of celebration. Families get together to enjoy dinner and celebrate until late.

Gatherings tend to start between 6 and 7 pm. While dinner is only served later, between 8 and 9 pm, for a few hours, families enjoy their time together, drinking wine and enjoying some starters.

For Christmas eve dinner in Portugal, the star of the show tends to be bacalhau or salted cod. During the “Consoada” Portuguese families tend to enjoy cod baked in the oven with potatoes, boiled egg, and cabbage. Cod is usually also served as a starter ingredient in pasteis de bacalhau, battered codfish fritters.

Some families enjoy cod as a main dish in another dish. The Portuguese say that there are 1001 ways to cook cod. Another Christmas eve dish with this ingredient is Bacalhau a Gomes de Sa, where the cod is cooked with potatoes, onions, and layered with a hard-boiled egg.

However, the price of cod has been increasing exponentially, where today most cannot afford a whole cod. Therefore, many will opt for another Christmas eve dinner that is more affordable.

Any left over cod is put away for the next day and made into “roupa velha”, translated into “old clothes”. This is a mix of cod, potatoes, Portuguese cabbage, and boiled egg that is delicious.

playing games.

Presents are traditionally open at midnight. Even small kids will often stay awake until this time to open presents. There is often a delegated Christmas present giver that will stand by the Christmas tree and give out everyone’s presents.

However, for the more religious, midnight is for the Missa do Galo. This is a mass celebrated on Christmas eve that starts at midnight. Catholics head to their local church for this important mass. They will later open presents or do so beforehand.

Families will then spend time together for a few more hours after opening presents and then head to their respective homes. Christmas eve can actually end pretty late for many families, at like 1 or 2 am.

Merry Christmas

Atlanticorp Venture Capital Fund & VGlobal Partners Vietnam, Marketing Agent of Atlanticorp in Vietnam

🔴 www.Atlanticorp.pt

🔴 VGP@VGlobalPartners.com

By VERDY MICHEL 16 December, 2022 News, Newsletter, Portugal

BREAKING NEWS : Portugal will have E2 Visa Treaty with USA

The U.S. House of Representatives has passed the Amigo Act as part of the National Defense Authorization Act, a legislation that would extend the E-2 treaty countries to include Portugal – whose citizens would be able to invest and live in the U.S. upon the bill’s approval by the Senate and signature of the president. The move could give the Portuguese Golden Visa program a further boost in popularity.

Many countries with citizenship by investment programs around the world count access to the U.S. E-2 visa treaty as a major advantage to its CBI offerings. As do other countries with residency by investment programs that can lead to citizenship. From Grenada to Turkey, global investors seek citizenships by investment in their pursuit of E-2 nonimmigrant visas that allow them to live and work in the U.S. for up to five years, which is renewable. More than 33,000 E-2 visas were issued to investors and their dependents in 2021, according to the State Department.

The Act, if passed, would give a further boost to the Portuguese “golden visa” program, already one of Europe’s most popular. Program participants who maintain their investment for the requisite five years and fulfill the 35-day physical residence requirement are eligible for Portuguese citizenship after five years, provided they can demonstrate a certain proficiency in Portuguese.

Portuguese Foreign Affairs Minister Augusto Santos Silva expressed similar optimism about the bill, calling it a “very important step because it allows business travel, for economic and business reasons, to the US to be made much easier.”

“It will be one more reason for all those who already intend to obtain Portuguese Nationality today to do so.” “The Amigo Act will help create more jobs and increase investment and further strengthen ties between the United States and Portugal said Diogo Ferreira, Director at Atlanticorp Venture Capital Fund

What about the E-2 visa?

The E-2 visa is available to investors with access to significant funds the right to reside in the US in order to set up a business, practice, or office.This usually requires a minimum investment of $50,000 – 100,000, and the applicant must prove that they are entering the US solely for the purpose of running or developing the business in question.Like the E-1 visa, the E-2 visa is valid for up to 2 years and can be extended an unlimited number of times, so long as the original business continues to be viable. The visa can also be extended to the applicant’s spouse or other family members, or other individuals who are essential to the running of the business.

Amigo Act and the EB-5 Visa program

Launched in 1990, the EB-5 investor visa is the popular route for foreign investors seeking to move to the U.S. Unlike the E-2 visa, it offers an indirect path to U.S. citizenship. However, the E-2 visa can be upgraded to an EB-5 visa in the case of increasing the investment amount to meet the program’s requirements – which would be an amount of $800,000 in a Targeted Employment Area or $1,050,000 elsewhere – and the creation of ten jobs in the U.S. market.

Due to its prolonged application process and higher investment threshold, the EB-5 visa might be less popular for investors. However, it does offer some comparative advantages.

“The E-2 investors visa is a good first step for those seeking to invest in the U.S., but it does not lead to a green card so many people who want to live in the U.S. will still choose the EB-5 green card option.

Atlanticorp Venture Capital Fund https://www.atlanticorp.pt

VGlobal Partners Vietnam is the Marketing Agent of Atlanticorp Venture Capital Fund (Portugal)

https://vglobalpartners.com/news-events/

Contact us : VGP@VGlobalPartners.com

By VERDY MICHEL 15 December, 2022 News, Newsletter, Portugal

Residence by investment is now being described as an asset class, essential for HNWIs to diversify their portfolio and lives. A clear favorite a residency permit such as the Portuguese Golden visa?

Over the last couple of years, there have been a few very important events that have changed the very nature of how we see residency by investment.

Some of the reasons why wealthy families wish to secure a second residence remain the same. They want to move to a country that allows them more freedom in terms of European movement and better social, education and health opportunities for the family.

However, it is becoming much more common that wealthy families are now seeing the financial and succession planning opportunities in holding a second residency. As much a plan B or C as a plan A.

The protection of a well-regulated country.

Not all countries are created equal when you look at their business and social environments. Gaining access to countries governed by unbiased legal systems and protected by strong police and security forces, is a huge draw for wealthy families.

Access to regulated investments.

Access to banking, investments and other markets are often closed or restricted to non-nationals and non-residents.

As an investor needs a balanced approach when building an investment portfolio, a second residency can be a great tool to help wealthy families expand their wealth management options.

Residency by investment provides the opportunity to access and benefit from local investments, banking and trade, which would normally be restricted if residency hadn’t been acquired.

Country bias – Investment diversification.

In addition to their investments, wealthy families have a similar dilemma when it comes to deciding where to place their more liquid assets.

Residents of some leading countries are restricted in their access to the world’s top banks. When it comes to the safety of the banking institution, countries such as Switzerland or Germany, The Netherlands, Singapore and South Korea come out top. In fact, out of the top 25 places in the 2021 Global Finance, list of the 50 world’s safest banks, EU countries take up 17 places.

Banking in Europe is often restricted and by taking up a second residency in a European country it could provide an investor with bank access and help spread the risk of having your money in one country. Of course bank, particularly those licensed to operate in EU jurisdictions adhere to all EU anti-money laundering principles and guide lines which is essential.

Opening of new markets.

Leading on from the banking opportunities, obtaining a second residency, in an internationally trade friendly country, may open new markets and opportunities.

Countries like Portugal in particular, hold great opportunities for new residents. With modern legislation, reasonable and sometimes quite low rates of taxation, it can be very beneficial for investors.

One country that has really benefited from this increase in inward investment is Portugal. As a country, it is going through somewhat of a controlled property boom, partially helped by the original demand for property at the start of the Portuguese Golden Visa program. Importantly, golden visa investors only account for 1,5% of all property sales according to last year’s statistics which shows a robust and mature market with solid fundamentals.

That said, the rules on where Golden Visa investors can buy property have changed and investors do not have access to the very best areas of Portugal anymore. Funds however are Golden Visa eligible and allow investors to invest in efficient property developments in some of the best areas of Portugal.

In addition to qualifying as an investment for a family’s residency application, a fund represents a real opportunity to make an investment in a rising economy and one which is well regulated by the Portuguese Financial Authorities. Unlike some ‘Golden Visa Trap’ properties out there, funds are likely to be attractive whether a right to residence is attached to it or not.

Succession planning and how RBI is considered an important tool.

Just as citizenship by investment, residency by investment is more and more commonly being used as an opportunity to help the next generation.

Most countries have very specific rules on physical residency before new residents are eligible to apply for naturalization. These rules can differ between countries, for instance, Portugal has a lower limit of just 5 years until a new resident can apply for naturalization whereas other countries such as Greece need applicant to be physically resident for no less than 183 days a year for 7 consecutive years.

There is the all-important language test that needs passing in order to be passport eligible and this is a fundamental step in the process and helps keep the program in good standing.

Once granted, the passport is transferable for generations to come. So an investment today could positively be impacting on the lives of unborn grandchildren for example.

Graham Sutcliffe

https://www.atlanticorp.pt/why-have-rbi-investments-become-a-high-net-worth-essential/

https://vglobalpartners.com/news-events/

VGlobal Partners Vietnam is the Exclusive Marketing Agent of Atlanticorp Venture Capital Fund

By VERDY MICHEL 14 December, 2022 News, Newsletter, Portugal

Why Investors Love Portugal

Portugal’s cuisine has been shaped by many factors, from its fertile, sun-baked olive groves and vineyards to its centuries-old love affair with the sea.

Every region has its own unique specialties, which you can find in the mix of old-fashioned tascas (taverns) and more cutting-edge restaurantes helmed by experimental young chefs making waves across the country.

Wherever you go, don’t neglect the simple foods that the Portuguese have refined over the years: freshly baked bread, olives and olive oil, and cheese. They can accompany your lunch or dinner, or you can make a meal of them along with charcuterie and other delicacies best sourced from a local market.

Here are the foods and drinks you shouldn't miss in Portugal.

Eat like an ancient mariner while forking into bacalhau

Portugal’s most famous food is bacalhau (salted cod), which can be served in a seemingly limitless array of dishes. The Portuguese say there are 365 different bacalhau dishes, one for every day of the year. Transforming the fresh white-fleshed fish into bacalhau involves salting, drying and curing, which allows it to last for many months.

Given its longevity, the fish was a staple on long sea voyages undertaken by Portuguese explorers. Among the dishes you shouldn’t miss are bacalhau à bras (shredded cod with fried potatoes and eggs) and our favorite bacalhau com natas (cod baked with potatoes, cream and cheese).

Where to try it: You don't have to go to a fancy restaurant to find a great bacalhau dish. A homespun tavern like Zé da Mouraria serves some of Lisbon’s best traditional fare, including an excellent bacalhau with chickpeas.Bite into the world’s best custard tart

One of the great culinary wonders of Portugal, the cinnamon-dusted pastel de nata (custard tart), with its flaky crust and creamy center, lurks irresistibly behind pastry counters across the country.

The recipe was born in Belém’s Jerónimos Monastery more than 300 years ago. Back then, monks of the Order of St Jerome (aka Hieronymites) used egg whites to starch their monastic robes and thus had a lot of egg yolks left over. Rather than throw them out, some unknown monk found a delicious way to use them.

Where to try it: Going strong since the 1830s, Antiga Confeitaria de Belém serves astonishingly perfect, piping hot custard tarts. It’s handily located just up the road from the Unesco-listed monastery that created the original recipe.

Feast on fresh-off-the-boat seafood on Portugal's coast

Always a seafaring people, the Portuguese know a thing or two about cooking fish. Taste the culinary riches of Portugal’s coast in dishes such as caldeirada de peixe (fish stew layered with tomatoes, potatoes and rice), açorda de camarão (a tasty stew of shrimp, garlic and coriander thickened with breadcrumbs), xerém (corn mash made with cockles) or cataplana (shellfish stewed with wine, garlic and tomatoes in a traditional domed copper pan).

Where to try it: All along the coast, you’ll find some outstanding places for a seafood meal. Mar à Vista serves up a veritable Neptune’s feast to a backdrop of sea views from its location in Ericeira. In the south, O Paulo has equally impressive ocean vistas and some of the best seafood dishes in the Algarve.

Join tripeiros over their namesake dish

Residents of Porto are known as tripeiros, a nickname that means "tripe eaters." What might sound like an insult is actually nothing of the sort — something that will become immediately apparent when feasting on a savory bowl of tripe stew.

Although you can find the dish in other parts of Portugal, Porto specializes in this delicacy, where it is typically called simply tripas à moda do Porto. It features tripe (cow stomach) with white beans, smoked ham, sausage, carrots, onions and other filling ingredients.

Where to try it: In central Porto, Abadia do Porto has been serving top-notch tripe stew since 1939. If you prefer it as an appetizer, head to Caldeireiros, which serves tripe and many other traditional Portuguese dishes as small plates.

Sip port after an atmospheric tour through a wine cellar

While you can taste tawnies, rubies and late-bottled vintages at bars all over the city of Porto, you’ll get far more out of a cellar tour and tasting. Slip over to the other side of the river to Vila Nova de Gaia’s lodges for a spin of barrel-lined cellars steeped in history that hails back to the 17th-century British merchants who developed quite a taste for sweet fortified wine.

Where to try it: At Taylor’s, you can stroll through 300-year-old cellars followed by a tasting in a lovely manicured garden. For more insight into the history of the wine and opportunities to order high-quality flights, visit the World of Wine.

Indulge in hearty dishes from the Alentejo

Many Portuguese consider the Alentejo home to some of the best dishes of the hinterlands. Instead of grilled sardines and platters of seafood, you’ll find meaty ingredients like porco preto, a high-quality "black pork" made from pigs that graze on acorns. Rustic ingredients are transformed into delicacies in classic dishes like açorda à alentejana, a soup made of bread, garlic, olive oil, cilantro and a poached egg.

Where to try it: Taberna Típica Quarta Feira serves tender black pork and all the sides inside a convivial dining room in Évora.

Delve into northern Portugal’s best comfort fare

Porto's favorite hangover snack, francesinha (which translates to little Frenchie), is a thick open-faced sandwich of wet-cured ham, spicy linguiça sausage and steak atop thick bread slices covered with melted cheese, an egg, a hot tomato and beer sauce.

Where to try it: The diner-like Café Santiago in Porto has been serving this rich calorie bomb since its opening in 1959.

Best food in Portugal for vegetarians and vegans

Portugal is a tough place to follow a plant-based diet. Meat and seafood feature heavily on most traditional menus, and even seemingly innocuous dishes can sometimes contain animal products. Caldo verde, for instance, is a soup made with potato and kale, but it often has a base of chicken broth and may also contain sausage.

Your best bet is to seek out dedicated vegetarian and vegan restaurants, which you can find in Lisbon, Porto and in the Algarve. A few earth-friendly restaurants worth seeking out are O Botanista in Lisbon, which serves imaginative, beautifully prepared dishes in an elegant setting, and Vegana by Tentugal, where you can tuck into vegan versions of Portuguese classics like the francesinha.

This article was first published September 2020 and updated September 2022 by Lonely Planet

Invest in Portugal with Atlanticorp Venture Capital Fund

VGlobal Partners Vietnam is the Marketing Agent of Atlanticorp in Vietnam https://VGlobalPartners.com

By VERDY MICHEL 13 December, 2022 News, Newsletter, Portugal

Reasons Why Investors are Flocking to Portugal

Portugal was once the best-kept secret in Europe. But those days are long gone. It’s now one of the most visited destinations on the continent, attracting more than 20m visitors per year. Still, if you haven’t been yet, there are plenty of reasons to visit. Here’s why the world is flocking to Portugal.

Timeless Lisbon

Lisbon is ageless. Bright squares have centuries-old buildings next to modern cafés, while contemporary museums, galleries and stores continue to pop up. Everywhere you look, the city displays its history and simultaneously showcases its young energy and progressive attitude. Musicians play along the river and in the city parks, the cuisine offers both traditional and exotic flavours, and cafe-bar terraces cover the rooftops and city squares. Entrepreneurs, freelancers and artists are flocking to Lisbon, too, adding their own contributions to the hip and historic environment. Keen to visit? Do it with Culture Trip on our exclusive nine-day Portugal adventure, which includes a guided walking tour of Lisbon – led by our Local Insider.

Award-winning beaches

Portugal’s coastline spans more than 1,770km (1,100mi), providing ample opportunities for beach time. Carvoeiro and the Ilha da Armona in the Algarve were listed as one of Europe’s best beach destination for 2018. In 2017, the winner was Praia dos Galapinhos, just south of Lisbon in Setúbal. Of course, you shouldn’t miss the beaches in the north, either. One of the most romantic near Porto is Praia do Senhor da Pedra, best known for its charming chapel at the surf.

A secret recipe

Pastéis de nata are a hot commodity around the world, but tasting these sweet, creamy custard tarts anywhere else isn’t the same as tasting them at Pastéis de Belém in Lisbon. Plenty of cafés have wonderful natas (as they are known locally), but the original recipe (which only a few people in the world know) is extra-special.

Wonderfully preserved history

Medieval city walls, Moorish castles, Roman bridges and romantic palaces are just a few examples of the many historic treats in Portugal. In addition to Lisbon and Porto, the top historic cities and towns include Coimbra, Évora, Óbidos and Guimarães. As you tour the country, try to see the Belém Tower, Jerónimos Monastery, Coimbra University and the Roman Temple of Évora.

A sunny disposition

Portugal’s warm weather and year-round sun are another attraction, especially in the centre and southern regions of the country. Lisbon is one of the sunniest European capitals.

Porto’s charm

Cobblestone streets and narrow alleys with stone steps wind through Porto’s neighbourhoods, characterised by a diverse mix of homes and buildings. Different colours and sizes, and usually showcasing azulejo facades, these buildings are part of what gives the city its unique appeal. The lovely Douro River also adds to the charm of Porto, ending at the Atlantic Ocean and winding through the Douro Valley and past terraced vineyards where sweet port wine is cultivated. While you’re in Porto, visit the wine cellars that offer tastings plus local heritage dating back, in some cases, to the 12th and 13th centuries. With Culture Trip, you can enjoy a guided culinary walking tour of Porto by joining our specially curated small-group Portugal trip.

A magical connection

Speaking of Porto, did you know it was once the home of Harry Potter author JK Rowling, and the place where she began writing her series? It’s even thought parts of Porto, and other areas in Portugal, provided inspiration. The most well-known theory is that she based Hogwarts library on the beautiful bookstore Livraria Lello & Irmão. One thing is for sure, Porto is now an essential stop for many Potter fans.

Summertime parties

Portugal is a country that loves to party, and summer is prime festival time. June, in particular, is when streets close down for a couple of days to traffic and open to barbecues, music, dancing and drinking instead. This special time is called the Popular Saints’ Festivals and the biggest parties take place in Lisbon and Porto, although locals dance the nights away at smaller-scale events around the country. Summer isn’t the only time for festivals, however, Christmas, Carnaval and Easter are just a few of the many other holidays celebrated in Portugal with parades and events.

The wine

Portugal is proud of its wine, and rightfully so. The country is home to 11 major wine regions (and many subregions), the Douro Valley being one of the oldest demarcated wine regions in the world and a Unesco World Heritage Site. Port isn’t the only sweet grape-inspired treat in the country, either: Madeira has also attracted quite a bit of attention for its local sweet wine. And what about the wine? Ask the locals for their preferences and many will name a few from Alentejo, the largest region in the country, or vinho verde from Minho, an area that reaches from Porto towards northwest Spain.

It’s romantic

Wild, rugged cliffs and stunning seaside caves, medieval gardens surrounding exquisite manor homes, and lookout points offering views across the countryside and the sea are just a few examples of Portugal’s romantic side. There are also more charming towns than it’s possible to mention, but the few attracting attention on an international scale are fairytale Sintra, medieval Óbidos and stunning Lagos.

Delicious cuisine

Fresh ingredients from the local land and sea are the keystones of Portuguese cuisine, and recipes are generally simple yet delicious. Many dishes stem from when meagre rations forced locals to make do. A few examples include açorda (herb-infused bread soup), tripas à moda do Porto (tripe stew with beans from Porto), and caldo verde (kale soup). Today, however, chefs are showcasing Portuguese food with creative twists, attracting even more people and palates. Fresh seafood also offers quality at a price that’s hard to beat.

It’s a perfect destination for everyone

Portugal is an excellent destination for solo travellers, couples, groups and even the whole family. From the mountains to the sea, Portugal is a destination offering rustic surroundings, modern amenities and luxury attractions. Whether you’re a city person who wants to party, or an introvert looking for some peace and quiet, you’ll find your place here.

It’s safe

One thing that attracts solo travellers and families to Portugal is that it’s so safe. In fact, it was listed as the third-safest country in the world in 2020 by the Global Peace Index.

It’s budget-friendly

Few European countries can compete with Portugal’s prices. Even in the capital, an average lunch costs €4-€7 and a dinner €10-€15, beer is roughly €1 and a glass of wine isn’t much more. A train ticket from Lisbon to Porto costs approximately €30 one way. There are even great budget accommodations, and Lisbon is one of the best cities in the world for hostels.

Welcoming locals

Finally, who doesn’t want to go to a country where the locals are genuinely happy to share their culture? Laid-back and friendly, the Portuguese are welcoming to tourists, especially those who are respectful and bear in mind common local courtesies.

Golden Visa

The Portugal Golden Residence Permit Program, also known as a Portugal golden visa, is a five-year residence by investment program for non-EU nationals. Portugal is a full member of the EU. The residence permit allows visa-free access to Europe’s Schengen Area and requires an average stay of just seven days a year in Portugal over the five-year period.

Invest in Portugal with Atlanticorp Venture Capital Fund www.Atlanticorp.PT

VGlobal Partners Vietnam is Atlanticorp Marketing Agent in Vietnam VGP@VGlobalPartners.com

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