- Residency by Investment
Portugal is a country in southwestern Europe, bordered by Spain and Atlantic Ocean. The 92.212 Km2 country has approximately 10.3 Million people and is an EU member state since 1st January 1986. Portugal with fantastic cultural heritage, food and climate is one of the most popular destinations for the tourism.
Portugal Golden Visa program was launched in 2012. The primary reason for implementing such program was to attract foreign direct investment to the country. Like many southern European countries, Portugal also suffered real estate crisis in recent years and nowadays prices of real estate are 20-30 % below to its peak. This program is the perfect opportunity for the investors to have a huge capital gain in the coming years.
It has to be mentioned that the program has proven a success. This program is fast track tool for the investors to get the fully valid residency in Portugal. The program is very open and welcoming to people from all over the world without any limitation to the nationality, religion or culture. The only requirement is that the investor has to be more than 18 years old and must not have a criminal record with a sentence more than 1 year.
There are several ways to obtain residence permit in Portugal (the investment has to be maintained at least 5 years):
- The investor has to buy a real property worth 500,00 Euro or more, or buy a real property more than 30 years old in refurbishing area, worth 350,000 Euro or more
- The investor has to make a capital investment worth 350,000 Euro in research activity or make a capital investment worth 250,000 Euro in reconstruction or refurbishment of national heritage projects or investor make an investment worth 500,000 Euro in Investment fund or venture capital.
- Create minimum 10 jobs
According to the Portuguese law, any person who has a temporary residence permit (for example Golden visa) for at least 5 years is entitled to obtain permanent residency in Portugal. In addition, the Portuguese law also says that any person, who validly resided in Portugal for 6 years, is entitled to apply for Portuguese citizenship. One of the most attractive issues concerning the golden visa program is that the investor does not need to reside in Portugal. The investor and his/her family need to visit the country only two weeks in two years in order to renew the golden visa. As a result investor obtains the residence permit and Portuguese citizenship without residing in the country.
The holder of Golden Visa does not have to pay taxes in Portugal unless he/she stays in Portugal for more than 183 consecutive days. The services of foreigners and borders (SEF) is a competent authority for issuing Golden Visa. Normally the application needs several months to be processed (up to 6 months).
Located in the continent of Europe, Portugal shares land borders with only one country, Spain.
Euro[c] (€) (EUR)
Unitary semi-presidential republic
WET/GMT (UTC) AZOT (UTC−1), Summer (DST) WEST (UTC+1) AZOST (UTC) Note: Mainland Portugal and Madeira use WET/WEST, the Azores use AZOT/AZOST
Reasons to choose Portugal?
- Opportunity to live, study and work in EU member state
- Amazing culture and history
- Business friendly atmosphere
- Full family residency
- Visa free travel in EU and Schengen Area
- Opportunity to apply for permanent residence permit after 5 years
- Opportunity to apply for Portuguese citizenship after 6 years
- Full access to healthcare and education
- No mandatory requirement to reside in the country
- Very low minimum stay requirements (7 days for the first year and 14 days for the next following two years)
- Can ask for the non-habitual resident status, in order to enjoy low taxes for 10 years
Visa-Free/Visa-on-arrival: Albania, American Samoa, Anguilla, Antigua and Barbuda, Argentina, Armenia, Aruba, Austria, Bahamas, Bahrain, Bangladesh, Barbados, Belgium, Belize, Bermuda, Bolivia, Bonaire, Sint Eustatius and Saba, Bosnia and Herzegovina, Botswana, Brazil, British Virgin Islands, Brunei, Bulgaria, Burkina Faso, Cambodia, Cape Verde, Cayman Islands, Chile, Colombia, Comoros, Cook Islands, Costa Rica, Croatia, Curaçao, Cyprus, Czech Republic, Denmark, Djibouti, Dominica, Dominican Republic, Ecuador, Egypt, El Salvador, Estonia, Ethiopia, Falkland Islands (Malvinas), Fiji, Finland, France, French Guiana, French Polynesia, Gambia, Georgia, Germany, Gibraltar, Greece, Grenada, Guadeloupe, Guatemala, Guyana, Haiti, Honduras, Hong Kong, Hungary, Iceland, Indonesia, Iran, Iraq, Ireland, Israel, Italy, Jamaica, Japan, Jordan, Kazakhstan, Kiribati, Kosovo, Kuwait, Kyrgyzstan, Laos, Latvia, Lebanon, Lesotho, Lithuania, Luxembourg, Macau, Macedonia, Madagascar, Malawi, Malaysia, Maldives, Malta, Marshall Islands, Martinique, Mauritania, Mauritius, Mayotte, Mexico, Micronesia, Moldova, Montenegro, Montserrat, Morocco, Mozambique, Namibia, Nepal, Netherlands, New Caledonia, New Zealand, Nicaragua, Niue, Norway, Oman, Palau, Panama, Papua New Guinea, Paraguay, Peru, Philippines, Poland, Qatar, Romania, Réunion, Saint Barthélemy, Saint Kitts and Nevis, Saint Lucia, Saint Martin (French part), Saint Pierre and Miquelon, Saint Vincent and the Grenadines, Samoa, Sao Tome and Principe, Senegal, Serbia, Seychelles, Singapore, Sint Maarten (Dutch part), Slovakia, Slovenia, Solomon Islands, South Africa, South Korea, Spain, Suriname, Swaziland, Sweden, Switzerland, Taiwan, Tajikistan, Tanzania, Thailand, Timor-Leste, Togo, Tonga, Trinidad and Tobago, Tunisia, Turks and Caicos Islands, Tuvalu, Uganda, Ukraine, United Arab Emirates, United Kingdom, Uruguay, Vanuatu, Venezuela, Wallis and Futuna, Zambia, Zimbabwe
Electronic Authorization: Australia, Canada, Gabon, Guam, India, Kenya, Myanmar, Norfolk Island, Northern Mariana Islands, Puerto Rico, Sri Lanka, Turkey, U.S. Virgin Islands, United States
Visa required prior to arrival: Afghanistan, Algeria, Angola, Azerbaijan, Belarus, Benin, Bhutan, Burundi, Cameroon, Central African Republic, Chad, China, Congo Republic, Cuba, Côte d'Ivoire, Democratic Republic of the Congo, Equatorial Guinea, Eritrea, Ghana, Guinea, Guinea-Bissau, Liberia, Mali, Mongolia, Nauru, Niger, Nigeria, North Korea, Pakistan, Russia, Rwanda, Saudi Arabia, Sierra Leone, Somalia, South Sudan, Sudan, Syria, Turkmenistan, Uzbekistan, Vietnam, Yemen
Entry denied: Libya