Portugal’s exceedingly favorable Golden Visa offer continues in 2020. Many foreign investors, as well as people interested in working and living in Portugal, are likely to continue applying. Getting a residency in Portugal is quite easy if you invest in its real estate market.
This is what is known as the Golden Visa program. There are several options open to non-citizens to gain Portuguese residency:
- Buy a Portuguese property worth at least €350,000
- Invest €350,000 to a Portuguese research fund and transfer €1,000 as capital
- Create an establishment capable of hiring at least ten Portuguese nationals.
Of these three options, real estate may be the cheapest way to get Golden Visa in Portugal. This is because the market is always strong; hence, the ROI is always competent.
The Parliament of Portugal will allow the government to effect changes in a range of investment types. This is in a bid to include more investors to qualify for the Portuguese Golden Visa by promoting investment in:
- Low-density areas
- Cultural heritage
- Urban renovation
- Creation of employment
Portuguese Golden Visa in 2020
Portugal has come a long way from its 2008 problems. The real estate industry has grown and may continue to grow – maybe at a slower rate – well into the future. In fact, experts expect it to continue booming in 2020.
Applying for a Portuguese Golden Visa is, therefore, a great money move. This is because buying property in the state now can yield good returns as the year comes to a close. Hence, the cheapest way to get a Golden Visa in Portugal may very well be buying property in Portugal.
Eligibility for Residency in Portugal
The Golden Visa scheme targets non-EU/EEU citizens. If you are over 18-years-old and have some money to invest in the country, then you are eligible. The requirement, after all, is to have some investment going in Portugal.
You can buy property, invest in businesses or create employment opportunities in the country to qualify for the visa.
The golden visa is your first step into getting Portuguese citizenship. While the visa itself does not grant you direct citizenship, it gets you closer. Portugal is a financially sound country with great investment opportunities.