Portugal is one of the fastest-growing economies in Europe. Being in Europe, you will experience a lifestyle you have dreamt of. With a very luxurious outlook of the country, the business and real estate industry is huge. Although, there are countless opportunities for not only locals but people who want to start a new life in Portugal. Portugal Golden Visa by Investment is one of the most frequent and easy ways to relocate to Portugal. Similarly, Living in Portugal is once in a lifetime opportunity that will benefit you till the end. Not only you but your family and upcoming generations as well.
Portugal Golden Visa is an almost decade-old residency program now and getting better year by year. Launched in October 2012, the program has never seen any backlash or downfall. After the first wave of COVID’19 has taken over the world, Portugal Golden Visa got more visibility as foreign investors were looking for a better plan B to save and expand their assets. No matter how settled your existing business is, you still need to sustain it for the generation coming after you. What else can be better than giving your children a European Lifestyle full of educational, employment, and healthcare opportunities?
We come across so many clients in the last few years with multiple concerns and different preferences. In this article, we will share a list of common questions we got from our clients. In short, these questions will help the reader to get a clear image of the program and if it is suitable for them or not.
What is a golden visa?
Golden Visa program refers to the process of relocating to a country as a reward for investing in the country’s real estate. In some countries, the program is named a residency by investment or permanent resident and in others, it is known as a golden visa by investment. The process is fast and most golden visa programs are leading to citizenship. Foreign investors are required to invest in Real Estate to attain residency. Similarly, all these real estate properties are government approved and high government authorities are involved in the process throughout so there is no such risk factor.
What is the credibility of Portugal’s Golden Visa?
Portugal’s real estate ranks as the third best option in Europe if you want to invest in European Real Estate. Lisbon has the most commercial and amazing real estate properties. As the program is one of the oldest European residency options, you can blindly opt for it and invest your finances in this. Not many European countries offer residency programs leading to citizenship. Portugal Golden Visa is famous among all the other options. Approximately, more than 10,000 people have become Portuguese residents to date and the number is increasing more because, during COVID, investors find it the most promising residency Program.
Who can get a Portuguese Residency?
Basically, European residency is comparatively expensive. But absolutely worth it because it will open up a lot of doors of opportunities and success. Only people who can afford it are the high net worth individuals. People who own their own businesses and their annual turnover is great. Also, people who are elites and have generational wealth already and want to expand it. Other than these, if you are working in a managerial position and have enough savings, you can also consider getting a permanent residency.
What are the benefits of becoming a Portuguese Resident?
This is one of the fastest European Residency tracks. Also, your whole family including your spouse and children under 22 can be part of your application. Children above this age can also be added under certain terms and conditions. Your children will get direct access to a luxurious lifestyle, great education, and very secure healthcare facilities. Portugal Golden Visa is also the only residency program that guarantees citizenship after 5 years and once you have a Portuguese passport, you will get the freedom of travel visa-free to 180+ countries.
What are the investment routes to get Portugal Residency?
This is one reason why Portugal’s residency program is more famous than others because it offers multiple investment options. Basically, investors can purchase real estate properties in the countryside, commercial or urban areas. the investment amount varies on the geographical location of the property. The minimum investment starts with 280,000 in countryside regional areas whereas, if you are investing in renovated properties in Lisbon or Porto, the minimum investment starts from 350,000 EUR. Also, if you are looking for real estate investment options in the Commercial areas of Lisbon & Porto, the minimum investment is 500,000 EUR.
Is there any donation option available?
There is no donation option that Portugal or any other European country offers. In order to attain permanent residency, you have to invest in real estate which is a refundable amount after 5 years. You will get guaranteed returns on your investment once your residency permit will be qualified as citizenship.
What is the processing time and when Portugal will grant me citizenship?
Most European Residency Programs take a year or more to complete the process of citizenship. Portugal Golden Visa takes 4 to 6 months to complete the process.
What are the tax benefits of Portugal Golden Visa?
Portugal is one of the very few European countries with the lowest taxation rate. If you are a new resident, Portugal will apply minimum taxes on you in the first ten years. Also, if you are working in the country, the income tax is as lower as 20%. Education and healthcare are almost free but of high quality so overall taxation is very low.