The Portuguese Golden Visa program came into being in October 2012. The program gives successful applicants a one-year residence permit. After this first year, you are you must renew your permit at the end of year 3. After five years of residency, you are allowed to apply for naturalization.
Applicants are expected to pass an A2 level language test. Hence, 2019 was the first year that a Golden Visa holder could apply for a Portuguese passport. Portuguese Colden Visa 2020 is, therefore, expected to roll out the first golden Visa citizens.
As the new decade begins, the Portugal Golden Visa is expected to continue being popular. The successful Golden citizens will be an inspiration for more investors to go for it. Once they see it is possible, they will go by the thousands to try their luck.
What the Golden Visa Holds for 2020
The investment program is now firmly in place with the first successful naturalized citizens. In the run-up to this, the scheme’s popularity has been gaining momentum. More foreign investors are submitting applications, as well as investments, have increased.
Another factor that has contributed to the increase in applicants is the promise of increased trade. Portugal promised to reel in significant economies such as the US. This is a huge encouragement for foreign investors.
Why the Portugal Golden Visa Program?
The main reason investors flock to Portugal is that its residency by investment program is the strongest on the globe. It comes with a slew of perks as well as financial benefits. It is also a strong economy with excellent investment opportunities.
It also provides a wide variety of investment opportunities. Its real estate is thriving and owning a piece of the country is a financially viable decision. Hence, the Portuguese Golden Visa 2020 is set to gain greater popularity.
Portugal’s financial and political futures look promising. The country has gained stability over the previous decade and the stability promises to hold. Moreover, it boasts the strongest investment visa in Europe. Thus, investment in the new decade can only be expected to go up.
In fact, with economic giants such as the US coming in, more foreign investors are likely to submit applications.