In 2012, Portugal joined a few other countries giving foreign investors a golden visa. The golden visa Portugal program was specifically created to make Portugal an attractive destination for investors. So far, over 4.5 billion has been invested by foreigners through the program with over 70% going to real estate purchases according to SEF.
Thousands of foreigners have used the golden visa to gain full EU residency in the past few years. A majority of them come from China, Russia and Brazil. Again, this is according to an internal statistical report by the Portuguese Immigration and Borders Service (SEF) in 2019.
The program has enjoyed support from within the country and abroad. It’s one of a few golden visa programs that is recognized by the OECD. Subsequent regimes in the country have also strengthened the program, thus building confidence among investors.
How Can You Benefit from Golden Visa Portugal Program?
In exchange for a five-year investment in Portugal, any non-EU/EEA foreigner can receive a full residency card to be used in and around Portugal. The card can be renewed on a yearly basis for a small fee and guarantees you a chance to become a full citizen in 5 years.
- You can live and work in and around Portugal
- You can bring your family along and settle in the country
- You will have access to wider EU marketplace
- There is unfettered access in the Schengen area for holders of the Portuguese golden visa
- Flexible renewal options
- You can operate a business, among other benefits
You’ve probably seen Portugal being listed among the top retirement destination in Europe. A majority of retirees use the golden visa Portugal program to invest and relocate to Portugal. Besides, Portugal also ticks a lot of boxes when it comes to the quality of life, thus making it attractive to foreign investors looking for a new place to call home.
How Do You Receive a Portuguese Golden Visa?