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Has anyone heard this or experienced any issues with the amount they needed to have in the Portugal bank account??
Hi LaTisha
We’ve been working with EI(Gilda Perierra). Please don’t quote me on this but our understanding is you want to have the equivalent of 2yrs Portugal minimum wage (about 800 euro/month x 24 months) for the primary applicant (yourself) plus 50% of that amount for a spouse and each child. Any amount over that will only help you. - Joey & Swara
@joey007 Thank you for that info! Darn, every year the more people are moving there the criteria gets a little harder and more of something is required. I was told by my consultation with Atlantic Bridge I would need $14k, but then I started to hear they wanted 2 years worth of savings. I have to figure something out because not going is not an option and I was really excited about making this move this fall. *sigh*😔😔
@latisha You might be better asking your Portuguese Consulate. When I queried this in London and Manchester UK a few weeks ago I got the following response:
"Bank statement from Portuguese bank account (€705 x 12 per first applicant, 50% for subsequent applicants, in case of family)"
@nsg666 thank you! That helped me feel more hopeful! I emailed the consulate in the middle of the night.so I hope to hear from them soon.
Ei! Recommends 35,000 Euros for Konni and I.
The amounts given in the other responses are correct as well. The minimum is 12 months of Portuguese minimum wage +50% for a spouse.
However, since the residency permit is how renewed after 2 years instead of 1, a recommendation of 24 months makes more sense.
The more you have, the more likely you are to get approved, is my understanding.
The 12 months of minimum wage would be really hard to live on for most people.
@hank_2021 does the fact that I have have income several times over their monthly income requirement maybe balance it out? Where maybe I won’t need as much savings?
@latisha My understanding is that if you can prove it, it does count. Of course, you'll want to talk with an actual immigration lawyer, but that is my understanding based on conversations I've had. Check out the many excellent webinars and hop into the Monday editions of Expats Portugal to ask Gilda who is the CEO of Ei! immigration services. She is wonderful and has no problem answering all your questions.
i've spoken to Gilda several times and she's very gung-ho n positive . . . my programme to emigrate has been stuck several times due to Corona but she kept up the support n said she's never failed yet, so thats something to cheer about . . .
