The Portugal Golden Visa program, also known as the Portuguese Residence Permit through Investment. It provides a route for non-EU citizens to obtain residency in Portugal. The future of the Portugal Golden Visa program seems uncertain. Foreign investors are eager to shift to Europe as soon as possible but the government of Portugal is planning to make some big announcements. The program has been successful in attracting foreign investment to Portugal with multiple investment options. Expresso, a well-known Portuguese publication claims that the Portugal Golden Visa program might discontinue the real estate investment route from 16th February.
The program has gone through various changes all these years. The government of Portugal will work on keeping other options open for foreign investors to relocate to Portugal. But they feel that the Golden Visa has served its purpose already. New changes in the Portugal Golden Visa will not affect the applications already in process so apparently, the last few days to start your process. After completing a decade, Portugal is still the no.1 choice for foreign investors. This news might shock people. But don’t worry, there are various other options to relocate to Portugal.
As a country, Portugal has always been a favorite tourist destination. The country has attracted people who love heritage, good food, and authentic European culture. Portuguese Golden Visa is very popular among investors globally. Some people wonder what is the future of this golden visa program. Let us share all the prospects and future impacts of the Portugal Golden Visa in this article. You can go through these advantages to see if you still want to apply before it discontinues.
Benefits of Portuguese Golden Visa
The Portugal Golden Visa program offers several benefits to non-EU citizens who invest in the country, including:
Residency in Portugal: The program provides residency visas to non-EU citizens who make an eligible investment in Portugal. This allows them to live and work in the country for an extended period of time.
Path to Citizenship: After five years of holding a residency visa, individuals may be eligible to apply for Portuguese citizenship.
Access to the Schengen Region: Portugal is a member of the Schengen Area. It allows golden visa holders to travel freely within the 26 countries in the area.
Best Tax Regime: Portugal has a favorable tax regime for non-habitual residents. It can result in significant tax savings for individuals who take advantage of the program.
Stability & Safety: Portugal is considered a stable and safe country, making it an attractive destination for foreign investment and residency.
Strong Economic Growth: Portugal has experienced strong economic growth in recent years, making it an attractive destination for investment.
High-Quality of Life: Portugal is known for its high quality of life, with a mild climate, scenic views, and a rich cultural heritage.
Overall, the Portugal Golden Visa program offers a combination of residency, investment, and lifestyle benefits, making it an attractive option for non-EU citizens looking to live and work in Europe.
FAQs
Who is eligible for Portugal Golden Visa?
Any non-EU national who can make a minimum investment of EUR 280,000 in the real estate of Portugal is eligible to apply for Portugal Golden Visa. In addition, having a clear criminal background is a must. The applicant must be in the best health conditions and need to show proof of their funds.
Is a golden visa leading to citizenship in the future?
Yes, Golden Visa will mature into citizenship after five years if the applicant sustains real estate investment.
What is the residency requirement to turn a golden visa into citizenship?
The applicant must need to live in Portugal for 7 days a year. It makes a total of 35 days in 5 years which is the minimum residency requirement. This minimum stay is a must to turn your golden visa into citizenship.
Does Golden Visa have any donation route?
No, You can only get a golden visa for Portugal through investing in real estate. The investment varies from region to region and multiple options are available but no donation option for the golden visa.
What is the processing time for the Portuguese Golden Visa?
The processing time varies from application to application. The standard estimated time is 8-12 months.
Portugal Golden Visa is one of the easiest and fastest routes to live in Europe. If you are looking for business expansion, global mobility, best tax benefits, you can get everything with Portuguese Residency. In case, the golden visa program through real estate investment ends on 16th February, You can still contact Saad Ahsan Immigration Law Firm for support and assistance regarding other options.
