Golden Visa Program – Popular Choice of Investors during the Year 2021
Portugal is located in a region which has always been a tourist attraction for decades. The cheerful streets, magnificent historic places, and turquoise clear beaches make Portugal the most visited city in the region internationally. People who have been to Portugal acknowledge the fact that how organized and stable their system is. Holding a position of 6th strongest passport around the globe, Portugal is now a popular choice for elites to move with the family. Portugal initiated their golden visa program in 2012, within 8 years thousands of people have attained a golden visa and started their life in a secure and stable country.
Additionally, this golden visa scheme is the no.1 choice for investors who are planning to live and work in Europe. Moreover, The idea of globalization has increased the urge among people to find new pathways to explore the world. People are now not ready to live in a nutshell for a lifetime. Many people have to move forward and started their immigration applications to give a boost to their lifestyle. Therefore, investors are highly interested to maximize their profit and everyone knows how a European country can help them to achieve their life goals.
Advantages of Portugal Golden Visa
Basically being an EU Member State, Portugal offers countless perks to its citizens. We are listing below some benefits of the Portugal Golden Visa Program to tell you why it has become a favorite destination for investors.
Portugal Golden Visa is leading to permanent citizenship right after 5 years. During these five years, applicants are required to stay 7 days a year in the country. Thi is far less than many countries offering a second passport. This stay is important for the applicant’s eligibility to naturalize the process.
- The applicant’s spouse, children of age 18 or less, and children who are students will become EU residents according to the scheme.
- Portuguese Golden Visa offers multiple investment options and doesn’t restrict its residents to follow a certain investment option:
- Main applicant needs to invest €280,000 in an art reconstruction project or a refurbished National Heritage Project
- The applicant requires to invest €350,000 if interested in Research Activities
- An applicant can invest a minimum of €500,000 to acquire shares in a capital venture or investment funds.
Who is eligible for Portugal Golden Visa?
- The applicant is required to hold a picture ID, be it a passport or National Identity Card, and two passport size photos to initiate the process.
- The main applicant must hold a good character and to prove this a character certificate is required.
- No criminal record, the applicant must provide a document to prove that he or any of the dependents do not have any criminal history.
- A document must be provided by the applicant to show the best health conditions of him/her and the dependents.
- Only people with a high net worth in their current country are eligible to apply for Portugal Golden Visa so they can afford a huge property investment.
- A minimum of 35 days’ stay requires which makes hardly 7 days a month during the first 5 years.
Choose your Property
The applicant has a right to choose the property they want to invest in. Additionally, the investor can get the position of a co-owner of the company by investing in a pre-qualified project of Real Estate. Having this position in the country, the exit strategy will become more accessible and easy. Once the applicant gets the permanent residency, the amount will be fully returned.
Some Additional Benefits
Access to free education & healthcare
Once the applicant attains the residency as a result of the Golden Visa Program, the applicant and dependents are eligible to enjoy all the perks living in Portugal. It including free education and health facilities. Portugal is located in a region that has the world’s best educational institutes. Studying in such institutes, you are doing a great favor to your child’s future. Similarly, the healthcare system in the European region is up to mark. Even the mediocre hospitals there offer amazing services. Also, this is a citizen’s major right to have all these basic facilities and the Portuguese Golden passport gives you access to a dream lifestyle.
Relief in Taxation
Portugal has a very stable economy and offers its citizens with maximum facilities to have a quality life. Living in a country and paying huge taxes on everything make it worthless for the citizens. No one wants to spend their earnings in paying huge taxes to the government to stabilize the economy of the country. Likewise, the Portuguese Golden Visa offers huge relaxation on taxes for the citizens. Once an applicant achieves Portugal Golden Visa can enjoy major tax breaks for 10 or more years.
The Ruling Socialist Party of Portugal presented this agenda in the budget of 2020 to bring some major changes in taxation. This is to support the foreign citizens coming to Portugal as a result of the Golden Visa Program scheme. Portugal is planning to make tax exemption zero for the people who are ready to invest in the country’s economy.
The main reason people go for a Portuguese Golden Visa is to be able to travel limitlessly. This is comparatively better than any other program. . Similarly, holding a Portugal Golden Visa gives you a chance to travel visa-free to entire Europe including the Schengen region. Once you get your golden visa residency, you can plan vacations to any of your dream destinations and you wouldn’t be worried about the visa restrictions.