Portugal ranks as one of the safest countries in the world, promising prospective residents the perfect Mediterranean climate and a low cost of living. In order for foreign entrepreneurs to live in the country for a long period of time and with the possibility of receiving benefits, the Portugal Golden Visa program is the best option. This visa offers the opportunity to acquire a residence permit through an investment in a property in Portugal.
What to know about Portugal
Portugal is located in the southwest corner of Europe and includes the archipelagos of Madeira and Azores in the Atlantic Ocean.
A pleasant climate, 3000 hours of sunshine per year and 850 km of splendid beaches make Portugal the perfect destination for all seasons. Portugal is undoubtedly the best choice for people who want to live in the part of Europe that offers the wonderful Mediterranean lifestyle, warm summers and mild winters, a stunning landscape and exquisite gastronomy.
It is an ideal country for those looking to invest in a second passport without giving up their own, or for companies wishing to establish operations in the European Union.
What is the Golden Visa Portugal?
The Golden Visa Portugal is one of the most successful investment residency programs in Europe and is one of the most popular in the world.
The Golden Visa program in Portugal has been in place since 2012, and allows non-EU citizens to obtain a residency permit in exchange for a 6-year real estate investment. The Golden Visa Portugal program has benefited not only those living and working in the region, but also the local economy. Since the initiative began, it is estimated that more than €6 billion has been invested in Portugal through foreign investment.
How to get the Golden Visa Portugal
- REAL ESTATE INVESTMENT: Invest €500,000 in real estate located in the Azores and Madeira regions.
- REAL ESTATE PROPERTIES IN URBAN AREAS: Invest €350,000 in properties located in inland areas, or Azores or Madeira Regions. The properties must be built more than 30 years ago and must be renovated. The sum of the property and the reconstruction must not be less than €350,000.
- REAL ESTATE PROPERTY IN LOW DENSITY AREAS: Invest €280,000 in properties located in low population density areas: inland areas, Madeira or the Azores.
- CREATE 10 FULL-TIME JOBS: Investment of €500,000 and creation of 10 new full-time jobs.
- PRIVATE EQUITY FUNDS: A minimum investment of €500,000 in a qualifying private equity fund may qualify for a Golden Visa.
- RESEARCH: Investment of 500,000 € in research carried out by accredited institutions that are part of the national scientific and technological system.
- EXISTING BUSINESS: Investment of at least €500,000 in an existing company registered in Portugal.
To ensure that the investment is valid, investments made under the Golden Visa Portugal program must be maintained for a minimum of 5 years from the date the residence permit is granted. They must also stay in Portugal for a minimum of 7 days during the first year, and 14 days after each 2-year period.
Advantages of the Golden Visa Portugal
The Golden Visa Portugal allows its holder freedom of movement, which means that he/she can live, work and study in Portugal and anywhere else in the European Union, the European Economic Area, Switzerland and the United Kingdom.
For a minimum investment of 280,000 euros, the Golden Visa Portugal offers the following benefits:
- Visa-free travel to 186 countries.
- Include family members: spouse or partner and children under 18 years of age.
- Renewal every two years with no residency requirements
- Apply for citizenship at 5 years.
- Quality education system
- Obtaining the 7th most powerful passport in the world
Real Estate investment in Portugal
The Golden Visa Portugal real estate option is perhaps the most popular way to obtain residency in Portugal. This is because Portugal is seen as a favorite destination among real estate investors, with an active property market, high rental yields and a booming tourist industry.
Many expatriates buy property in Portugal for tourism purposes, to serve as a second home or as a retirement destination. It is possible to invest in new-build properties in affluent Lisbon or Porto from €500,000.
However, the Portuguese government wants to shift the focus of real estate investments from high-density areas such as Lisbon, Porto, the Algrave, Setúbal and the Silver Coast to low-density areas such as the Azores, Madeira and inland Portuguese cities and towns where €350,000 can be invested in existing properties located in urban regeneration areas.
The most economical investment route for the scheme is to make an investment of €280,000 in the rehabilitation of properties in low density areas. Such property, must be for sale and be at least more than thirty years old and be in the process of renovation.
Golden Visa Portugal, tax benefits
The tax benefits of Golden Visa Portugal are a major attraction for foreign investors looking to make the most of their financial contribution. Visa holders do not have to pay tax on income produced outside of Portugal.
Speak to one of our Golden Visa Portugal advisors so we can understand your objectives and help you move forward. We have an experienced, hands-on team that helps clients from around the world acquire Golden Visa Portugal, while diversifying their portfolio with sound investments.