Portugal Golden Visa
Portugal GV
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Portugal Country Overview
The EU nation of Portugal is a country located in the Iberian Peninsula, in the southwestern region of Europe, bordered by Spain and the Atlantic Ocean. The country has become a magnet for high-net-worth immigrants in the past decade due to its high living standard, pleasant climate, economic power, political freedom, and ease of immigration. Portugal has a mild climate and a relaxed lifestyle, making it a popular destination for tourists and immigrants alike. Its centralized strategic location means that it is easy to get to from anywhere, and businesspeople can fit dealings with both the western and eastern hemispheres within the same 9-5 business day.
The Portuguese economy is highly diversified and is one of the most competitive and progressive in the Eurozone. Its most important sectors are services, industry, and agriculture. It is an export-oriented economy with a GDP per capita of nearly $30,000.
Politically, Portugal is a semi-presidential republic and is part of the European Union. It is also a member of the North Atlantic Treaty Organization (NATO).
Portuguese is the official language of the country, though English and Spanish are also widely spoken. Portugal has a population of nearly 10.3 million people, making it the third-most populous country in the Eurozone. Its economy and cultural importance continue to benefit from increased immigration, which is why Portugal has a wide array of interesting immigration options, including the popular Golden Visa.
The Portugal Golden Visa program is a popular immigration option for those seeking residency in Portugal. This program offers a fast-track route to obtaining permanent residency in Portugal by investing in real estate or creating jobs in the country. The program has been successful in attracting investors from China, Russia, and Brazil. The benefits of obtaining a Portugal Golden Visa include visa-free travel within the Schengen area, access to healthcare and education, and the ability to apply for citizenship after five years of residency.
At our company, we specialize in helping individuals and families navigate the complex process of obtaining a Portugal Golden Visa. Our team of experts will guide you through the requirements, including the minimum investment amount and property purchase requirements. With our assistance, you can obtain your Golden Visa and enjoy all the benefits of living in Portugal, including access to top-quality healthcare, education, and a high quality of life. Contact us today to learn more about how we can help you obtain your Portugal Golden Visa.
Portugal's Golden Visa: Portugal Residency By Investment
To qualify, applicants must make a government-approved investment and then meet the minimum physical presence requirement of spending seven days a year in Portugal for five consecutive years.
As long as they maintain their investment, they can renew their residence permit every two years. At the end of the five-year period, they can apply for permanent residency and Portuguese citizenship, giving them the freedom to liquidate or resell their investment. Applicants can also add a wide array of family members to their applications.
Portugal’s Golden Visa has various investment options, which are:
- Purchasing property for €500,000 in an approved area
- Purchasing renovated and rehabilitated property for €350,000 (with a potential 20% discount for properties in low-density areas, making the investment amount €280,000)
- Investing €500,000 in a mutual investment fund
- Making a capital investment transfer of €1.5 million
- Creating at least ten jobs with a €500,000 investment,
- Investing €500,000 in research and development activities
- Making a capital transfer of €250,000 in support of artistic output or developing national heritage.
Over 96% of all investments since the launch of the Golden Visa have come under the real estate or mutual investment fund option.
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Qualification Criteria
To be approved, investors must
- Be above 18 years of age
- Be able to demonstrate a clean background,
- Have and the ability to positively contribute to the Portuguese economy.
Eligible Family Members
- Spouse
- Dependent children (regardless of age) as long as they can prove financial dependency and are enrolled in full-time education
- Dependent parents and grandparents
Investment Options
The Portuguese Golden Visa has a plethora of investment options to choose from, but the most popular by far is the real estate investment and fund investment categories.
1) Real Estate Investments
It is important to consider the details before investing in this option. The main real estate offering requires an investment of 500,000 EUR for any residential property in approved areas, regardless of its age, size, or area density.
Alternatively, those who choose to invest in older properties that have undergone rehabilitation can reduce their investment to 350,000 EUR, which includes the renovation cost.
Furthermore, investors can get a 20% reduction to the minimum investment threshold if they choose a property in a low density area. In this case, a new property would cost 400,000 EUR and an old rehabilitated property would cost 280,000 EUR.
It should be noted that eligible areas for residential real estate investments under the Golden Visa are mostly located in the interior of Portugal; popular areas such as Lisbon and Porto are not eligible for the purchase of residential real estate, although commercial real estate can be bought anywhere in Portugal.
2) The Fund Option
The Golden Visa is available to any CMVM-recognized fund managed in Portugal that invests at least 60% of its capital within the country’s borders.
It is important to choose the right fund management company when selecting a fund to invest in. By investing 500,000 euros in a fund, investors can benefit from annual ROI and, depending on their nationality and place of residence, may be eligible for tax exemptions.
Additionally, after a five-year holding period, the initial investment can be recouped and returned to the investors’ bank accounts.
3) Other Investment Options
In addition to other investment options, an applicant can make a capital investment transfer of €1.5 million, which could be used to fund companies a wide range of activities.
Furthermore, one can make a €500,000 investment to create at least ten jobs in the local economy. Applicants must prove that they created and maintained the jobs throughout the investment holding period.
Additionally, one can invest €500,000 in research and development activities to increase the potential of technological advances. This is normally a non-refundable contribution.
Finally, one can make a capital transfer of €250,000 to support artistic output or develop national heritage in the local area. This investment is a non-refundable contribution.
The Process
The Golden Visa’s process is simple and takes a few steps, and the processing times range between 8-12 months on average. The steps are:
The Benefits
The Portuguese Golden Visa comes with a plethora of benefits, including:
- Straightforward application process: The entire process is simple and takes a few weeks of preparation, making it one of the simplest ways to get a residency in the EU.
- Minimal residence requirement: Portuguese Golden Visa holders only need to spend seven days a year to maintain their status.
- Possibility to live and work in Portugal without the need for a work permit: Golden Visa holders are free to reside, work, and study in Portugal as local residents, making the Golden Visa a great option for those looking to elevate their family's living standard.
- Possibility to travel freely within the Schengen area: As EU residents, Golden Visa holders can access the Schengen Area without the need for a visa.
- Fast-track Portuguese citizenship after five years: Golden Visa holders can qualify for naturalization after five years if they meet the minimum residence requirement of seven days a year, making it one of the easiest ways to get an EU citizenship.
- No need to renounce citizenship in home country: For those wanting to obtain citizenship it is important to note that Portugal allows dual nationality.
- Potential tax benefits for non-habitual residents: Golden Visa holders can qualify for Portugal's Non-Habitual Residency Tax Regime which fixes income tax at a flat rate of 20% no matter the income volume.