The Portugal Golden Visa is one of the most popular visa for investors program. It provides the perfect opportunity for non-EU investors to gain resident status and even citizenship in an EU country.
Portugal is an attractive country. It has a strong and growing economy that guarantees positive returns for investments made. Being in the EU region, investors have unfettered access to the 26 countries of the European Union.
Here’s why many investors prefer the Portugal Golden Visa:
Investment visa can lead to citizenship or permanent residency
The Portugal Golden Visa is a straightforward method to attaining EU residency and even citizenship.
The Portugal investors visa is valid for five years. It’s renewable every two years except for the first year, when it’s renewed at the end of the year. At the end of the five years of validity, you can renew it for one more year as you start your application for permanent residency or citizenship.
To be successful for permanent residency, you will need to understand and speak basic Portuguese. You will be assessed for this. If you wish to get permanent residency or citizenship, learn Portuguese in the five years that you hold the investors visa.
Further, ensure that you do not have a criminal record within the EU region, or you will be disqualified from applying.
Also make sure that you do not have any outstanding tax payments. You should also still own the property that you invest in when applying for the Golden Visa at the end of the visa period.
When you meet all these conditions, you now qualify to apply for permanent residency or citizenship in Portugal. This then translates to EU citizenship.
Freely travel within Europe
Portugal investment visas come with great traveling flexibility.
This visa gives you access to the Schengen region of the EU countries as a resident of the region. Visa and passport holders of member countries can access different countries freely. This opens up many social and economic opportunities.
When you hold a Portugal investor’s visa, you can live, work and travel in any of the EU countries freely. You can easily access services and markets in different European countries. You can expand your investment activity in the different European countries that you prefer, with ease.
Own real estate in a high demand market
The Portugal Golden visa allows you to own real estate in a growing market in the European region.
If you apply for the investor’s visa in the € 500,000 category, you have the opportunity to buy property in the growing urban areas of the country. You can purchase Lisbon apartments which are in high demand as more and more people come to work in the city. You can also set up this property as your residence when you are in Portugal.
Real estate investment in Portugal is lucrative. If you are not going to live in the property that you invest in, you can hand it over to a management company. They will help you with the day to day tasks involved in the management of rental and investment property. On your part, you will enjoy the returns of your investment and ensure that you pay any required taxes.
As demand in the real estate market in Portugal grows, you can sell your property to enjoy profits from the rising value of property investments. As Portugal attracts more investors into the country, it will be easy to list and sell your property.
Highly flexible application methods for the Golden Visa
The Portugal Golden Visa is quite easy to apply for. Interested investors have many methods that they can use to apply for the Portugal Visa. As a result, investors have a lot of flexibility in how they can apply for the visa.
The most common method is the € 500,000 real estate investment. In this plan, to qualify to apply for your visa for investors, you will have to buy a property of this amount or more. This property should be in an urban area. Ensure that you attach all the documents that show that you own a property of this value when you apply for the visa.
You can also opt for the € 350,000 investment category. In this category, you have many options to invest your money. You can buy rundown properties earmarked for refurbishment by the government. You can also invest in regulated private equity funds or in research facilities.
Another option available for investors is by creating at least 10 full time jobs in the Portuguese economy. An investor can choose to incorporate a business in a Portugal, when they have 10 employees, they can qualify to apply for the Portugal Golden Visa.
You can also qualify for the Golden Visa by transferring at € 1,000,000 to a bank account in Portugal. This amount should come from a different country to qualify you to apply for the visas for investment scheme.
With € 250,000, you can also qualify for the Portugal Golden Visa. In this category, an investor is required to invest their money into a project that promotes culture, art, and Portuguese heritage.
The Portugal Golden Visa provides flexibility in the application process of the visa for investors. Investors have a myriad of options that ensure that they can easily qualify for the visa.
The whole family can apply
Another significant feature of the Portugal Golden Visa that makes it a golden opportunity for investors, is that it allows for your spouse and dependents (child and adult) to apply.
Under the “family unification” category, an investors family member can apply for residency in Portugal. In this category, the spouse, and all children under the age of 18 and those over 18 who are still in school, can apply as dependents. Other adults, such as parents of the primary investor can also apply as dependents of the primary applicant.
This is one of the factors that attracts many investors to the Portugal Golden Visa.
Applications by family members are supposed to be done at the same time as the main applicant. Every family member has their own affordable and passport renewal and application costs.
For investors with school going children, they can take advantage of the high-quality European education system. You can also take your children to school in any of the European countries that you prefer.
Low cost of living
Portugal is relatively affordable to live in. As such there are many people who want to relocate here.
In Europe, Portugal is considered among the cheapest countries to live for non-EU country members. As such, investors get value for the money they invest in the country.
Easy requirements on living in Portugal when you win the investment visas
The Portugal Golden Visa scheme has easy rules to follow about living in Portugal once you have received your visa.
For the first year, an investor is only required to be in Portugal for seven days for their visa to qualify for renewal. For the subsequent two-year renewal periods, the visa by investment holder is required to have in Portugal for 14 days.
Further, for your investors visa to remain valid over this period, you should not have any criminal activity in your record. You should also not have any outstanding unpaid taxes and social security payments.
These are relatively easy conditions to follow to ensure that you continue to hold your visa validly.
Once you have reached the end of the five-year period validity for the Golden visa, you can apply for permanent residency. On acquiring it, the rules on living in Portugal are similarly relaxed.
First, you are allowed to hold dual-citizenship. As a result, you can hold you home country passport together with the Portugal passport or permanent residency permit.
Second, you are required to be within Portugal for a minimum of 30 days in a consecutive 30-month period for your permit to remain valid.
Another golden opportunity that is presented to investment visa holders, is the favorable tax regime known as the Non-Habitual Residency status or NHR.
As a holder of the Golden Visa whose income is earned from outside Portugal, you are eligible to receive your income without paying taxes within Portugal. Taxes on income from self-employment, rental income and even capital gains will not be taxed when it lands into your Portugal bank account.
Senior citizens who are eligible to receive their pensions will also benefit from this tax benefit. Investors within this category who receive their pensions from abroad will enjoy it tax free.
With the NHR status, a holder of the investment visa who earns income from Portugal is taxed at a minimum 20% rate. There is also a tax exemption for significant value gifts or inheritance to direct family members.
Further, any income that is taxed from the home country will not be taxed in Portugal.
These tax conditions have caused the Portugal Golden Visa to become quite popular in the European region.
Recently, there have been changes in the mode of application for the visa by investment in Portugal thanks to the Covid-19 pandemic.
It is now possible for the Golden Visa applicants to apply and receive their visa online from wherever they are in the world.
In this method of application, an applicant will be invited for a face to face interview in Portugal with the immigration department. At this interview, the applicant and their family will be interviewed for eligibility to receive the Golden visa. Their fingerprints and personal information will be recorded.
Also, you will be required to show evidence of having already invested or transferred your investment for visa money into a Portugal bank account. Further, you will need to show that you have a valid legal entry into Portugal for the purpose of the interview or business.
Use a lawyer
Applying for the Portugal Golden Visa is easy and straightforward.
You can do it by yourself, however it is always advisable to use a Golden Visa consultant or legal representative to help you carry out the application and investment.
With professionals by your side, you will get valid and good advice on the regions you can invest your money in and also favorable investment opportunities within Portugal markets. Further, they will help you read and understand Portuguese in the application documents, and where applicable, they will help to translate your application from any other language to Portuguese.
When your interview is imminent, the government will alert your legal representative, who will help you schedule and prepare for the interview.
When you carry out your application through a legal representative, you have a separate website through which you will send in your applications.
Getting professional assistance for this process is important.
Another advantage gained by applicants into the Portugal Golden Visa program is the political and economic stability within Portugal. As such, investors are sure that their investments are not likely to lose value or get lost as a result of political upheaval.
The program is well supported and managed by the government and citizens of Portugal. It has been a critical source of government revenue for the few years it has been in existence. Further, it has helped raise Portugal’s profile as an investment destination.
In addition, Portugal is among the safest and most peaceful countries in the world. The people are also friendly and it has one of the lowest crime rates in Europe. With these qualities, investment visa holders are getting into a beautiful country where they can live in peace and have their investments grow in value.
The Portugal Golden Visa program is a golden opportunity for all who are eligible and will apply to it. It is easy to follow and understand. Choose your investment category, make your purchase, or transfer your funds from another country and then apply for your residency visa. If everything is as it should be, you will be an investment visa holder in a few months.