Portugal is one of Europe’s oldest countries and boasts a diverse historical and architectural heritage. Luminosity, radiance and culture emits from the whitewashed villages and lush vineyards of this country positioned on the blissfully gorgeous shores of the Atlantic ocean.
With its mild climate, 3000 hours of sunshine per year and 850 kms of splendid beaches bathed by the Atlantic Ocean, Portugal is the perfect holiday destination all year round.
The country has an exceptional range of different landscapes just a short distance away, lots of leisure activities and a unique cultural heritage, where tradition and modernity blend together in perfect harmony. Its superb cuisine, fine wines and hospitable people make this a tourist paradise of the highest quality.
Situated in the extreme south-west of Europe, it is well connected to other major European cities by rail, land and road.
What is the Portugal Golden Visa?
The Portugal Golden Visa is Portugal’s in demand Citizenship-by-Investment Program (CIP) that enables non-EU/EFTA Citizens to obtain Portuguese residency and eventually Citizenship by investing in Portugal. Portugal’s Citizenship-by-Investment program is consistently ranked among the top CIP programs in the world and also one that we frequently end up recommending to our advisory services clients.
A person who makes a qualifying investment (8 different routes) is eligible to apply for the Portuguese Golden Visa and can obtain a Portugal residence card within a matter of months. The initial residence card issued under the program is valid for a period of 2 years and must be renewed every two years until one is eligible to apply for Portuguese Citizenship (5 years).
You must maintain your investment for the entire duration of residency but are only required to visit Portugal for an average of 7 days a year to maintain your residency. This is great if you are looking to maintain your current employment or business in a different country until you are eligible for Portuguese Citizenship which will give you the right to live and work across the EU.
Why it makes sense?
- Ability to live and work in Portugal.
- Visa-free travel to Schengen and EU Countries.
- Ability to apply for Portuguese Citizenship after a period of 5 years.
- Low stay requirements (7 days per year on average) helps applicants maintain current employment and residency in a different country.
- Inclusion of family members, such as a spouse, dependent children and dependent parents.
Investment Routes:
There are a total of 8 different qualifying investment options to choose from:
- Capital Transfer of 1 Million € or more to a Portuguese account in the name of the investor.
- Purchase of Portuguese Real Estate worth at least €500,000 (€400,000 if purchased in a low-density area).
- Purchase and refurbishment of Portuguese Real Estate built more than 30 years ago worth atleast €350,000 (€280,000 if purchased in a low-density area)
- Incorporate a business that creates and keeps at least 10 new permanent jobs in Portugal (atleast 8 if located in a low-density area).
- Donation of at least €350,000 to public or private scientific research institutions.
- Transfer of capital of at least €250,000, as investment or support for artistic production, or recovery or maintenance of Portuguese national cultural heritage.
- Investment of €350,000 Euros in investment funds or Private Equity funds aimed to capitalize companies, with a minimum investment of 60% into companies located in Portugal.
- Transfer capital of at least €350,000, to incorporate or increase the share capital of a company with registered office in Portugal, together with the creation of five permanent jobs, for a period of three years.
Out of all the investment options available, the two real estate investment options highlighted have been the most popular with a majority of applicants choosing between these options.
Key Country Facts:
Climate - maritime temperate; cool and rainy in north, warmer and drier in south
Population (2019) - 10,295,909
GDP (Per Capita) (2020) - $23,731
Official language - Portuguese
Major religions - Christianity (83.3%)
Ethnic Groups - Portuguese (95.3%), others (4.7%)
Government - Unitary semi-presidential constitutional republic
Currency - Euro (EUR)
Tax - Resident individuals are taxed on their worldwide income; nonresidents are taxed only on their Portuguese source income. Capital gains on the sale of an individual’s main residence are exempt if the proceeds are used to purchase another permanent residence in Portugal or in another EU/EEA member state, provided that, in the latter case, arrangements are in place for an exchange of information in tax matters. If the seller is 65 years old or older, such capital gains also may be exempt if the proceeds are invested in a pension plan that complies with certain criteria.