The Portugal Golden Visa Program is a resident by investment program and one of the world’s most popular and used programs. It’s transparent, well-managed and is the easiest way to get EU citizenship by investments.
In this quick guide to Portugal Golden Visa Program, we’ll cover the basics of Portugal Golden Visa, requirements and your investment options leading to Portugal citizenship by investment. Finally, we’ll also let you in on the significant changes that will come through in January 2022 and why right NOW is the best time for you to apply for the Golden Visa.
Portugal Golden Visa
In 2012, the Portugal Golden Visa Program was established to promote investments from non-EU/EEA citizens into the country. In Portuguese, this program is called Autorização de Residência para Atividade de Investimento (ARI).A Golden Visa provides a way to gain Portugal citizenship by naturalisation. It grants Portugal residency by investment (RBI) with renewable residence permits in Portugal on the basis of the investment made in the country. The applicant who successfully completes the application process receives a one-year residence permit. This permit has to be renewed after the first year, and the renewal process continues until the end of the third year. After successful five years of residency, investors with the Portugal Golden Visa Program can apply for naturalisation.
Why Portugal Golden Visa?
Portugal Golden Visa Program is one of the strongest residencies by investment programs in the world. The following seven benefits are one of the key reasons why foreign investors apply and seek residency in Portugal:
- Family Benefits
While applying for a Portugal Golden Visa, you can include your dependent family members. The best is that your dependent parents and children have the same benefits as you.
The qualifying family members are:
- Children under 18 years
- Spouse or legal partner. Same-sex unions are recognised in Portugal
- Dependent children under 26 years who are single and full-time students
- Siblings under 18 years from either spouse if the applicant is the legal guardian as designated by the courts
- Parents of either spouse over 65 years and 55 years if dependent
- Easy Way to Gain Portuguese Citizenship
The Portugal Golden Visa is probably the easiest way to gain EU citizenship for you and your dependents. After having a 5-year residence permit, you have to clear a language test. Once citizenship is granted, you can apply for a Portuguese passport. Since Portugal offer dual citizenship, you don’t have to relinquish your existing passport, unless the original country doesn’t allow dual passport.
- Tax Benefits
You can choose to become a non-habitual tax residents (NHR) of Portugal. The NHR scheme helps save a lot of tax money, making Portugal an attractive financial option. The scheme offers:
- Some foreign income is tax-free
- Reduced tax benefits for the first ten years in the country
- Access to Excellent Education and Healthcare Benefits
The cost of living in Portugal is comparatively low to that of countries like the USA. You can take advantage of the Portuguese national healthcare system (Serviço Nacional de Saúde), which is excellent, world-class, and low-cost. Your family can also get access to Portugal’s excellent education system for studying or research.
- Visa-free Access to EU, the Schengen Zone, and EEA
Once you gain residency, you get visa-free access throughout the SCHENGEN region. A Portuguese passport allows you to live or work in the European Economic Area (EEA) and European Union (EU).
- Better Quality of Life
You’ll be happy to know that Portugal is one of the top Expat countries in Europe and the world. With mouth-watering cuisine, beautiful coasts, and world-renowned wine, Portugal has been voted as the best EU country for quality of life.
- Good Work Opportunities
The Portugal Golden Visa allows you to work or start a business in Portugal. It also allows you to work remotely for a foreign company.
Let us find your bridge to a new life in Portugal.
Portugal Golden Visa Requirements
The residency requirements for the Golden Visa are easy to meet, and they include:
- You need to make an investment
- You should have a clean criminal record
- Your dependent children should be a single and full-time student
- Yours or your spouse’s parent should not be over 65 years of age
Investment Options to Qualify for Portugal Golden Visa
You have three investment options for the Portugal Golden Visa – real estate investment, capital investment and starting a company. By far, real estate investment is the most popular option and accounts for approximately 94% of applications.
Let’s take a look at the current rules governing the three types of investment options for the Golden Visa.
Current Investment Rules for Golden Visa
- Property Investment
- Investment of €500,000 for all other properties in Portugal.
- Invest €350,000 in existing or new properties in Portugal’s urban regeneration areas.
- Purchase existing properties worth €280,000 in low-density areas that require renovation.
- Capital Investment
- Make an investment of €350,000 for companies in the national technological or scientific system.
- Make a capital transfer of at least €1 million.
- Invest at least €350,000 in a qualifying investment fund such as private equity or venture capital funds that provides capital to specified companies.
- Make €250,000 investment in Portuguese arts or cultural heritage.
- Invest €350,000 to incorporate or increase the share capital of a Portuguese company. This also must create five permanent jobs for at least three years.
- Start a Company
Although there is no minimum investment to start a company, your business must create a minimum of ten jobs for Portuguese nationals for at least five years.
Why is NOW the right time to apply for Portugal Golden Visa?
In January 2022, the rules are going to change. You have until the end of 2021 to take advantage of the current Portugal Golden Visa Program.
If you've been waiting for the perfect opportunity to apply for Portugal Golden Visa, the time to apply is now!
What's going to change in January 2022?
The changes are mainly going to affect real estate and capital investment options. However, the changes are not going to impact the existing Golden visa renewals.
Highlights: Real Estate Investment Option Changes in 2022
- The government’s focus will be on investments in low-density regions, including the Madeira, Azores, and the country’s interior.
- Properties in high-density and popular areas like the Algarve, Porto, Lisbon, and high-density coastal towns like the Silver Coast and Setubal will be excluded from the program.
- Property investment limits remain the same.
Highlights: Capital Investment Option Changes in 2022
- Minimum €1.5 million capital transfer instead of €1 million
- Investment of €500,000 (up from €350,000) for companies in national technological or scientific system
- Investment of €500,000 (up from €350,000) into private equity or venture capital funds that provide capital to specified companies
- Investment of €500,000 to incorporate or increase the share capital of a Portuguese company (up from €350,000). The business investment must create five jobs (permanent) for at least three years.
The changes will come into effect starting January 2022. If you want to be a resident in Portugal and a European citizen in 5 years, you have a window of opportunity until the end of the year to take advantage of the existing rules.