Portugal Golden Visa: investment benefits
What is Portugal golden visa?
Portugal Golden Visa is a program launched by the Portuguese government to provide an opportunity to the people from non-EU countries to get a completely valid residency permit in the country.
According to this program, all you have to do is make one of the investments listed in the law to qualify for a residency permit in Portugal. This will let the buyer and his family to live in Portugal and travel through almost all the major European country. Its minimum stay requirements have made golden visa one of the most attractive residency plans for the investors globally.
Kinds of investments permitted in the Golden Visa rule
Good news for the investors is that the Portugal Golden Visa program was lately expanded to include more kinds of investment opportunities. Here are the types of investment which are included in the Golden Visa plan.
- Property investment program
- You would have to acquire property worth more than 500,000 Euros
- Furthermore, one would have to buy a property worth more than 350,000 Euros if it is more than thirty years old or is present in the region of urban renovation.
- Capital investment program
- You would need to transfer funds worth more than 1,000,000 Euros
- If you want to invest in research activities you would have to transfer funds worth more than 350,000 Euros
- If you want to invest in artistic and cultural activities, you would have to transfer funds more than 500,00 Euros
- Furthermore, if you want to invest in small or medium-size companies, you would have to transfer 500,00 Euros for capitalization
Period of Golden Visa Validation
The residency permit, once issued, will remain valid for a period of 1 year initially and later on would be renewed for succeeding periods of two years.
General requirements investors have to fulfill
The best thing about Portugal Golden Visa is that you and your family members only need to meet few requirements to be eligible for it. The rules imply that the investor must comply with general requirements which are applicable to all kinds of qualifying investments along with particular requirements of the very type of qualifying investment
Following are the requirements all the investors have to comply with:
- One must own the investment for a period of five years minimum
- All the funds invested in a program must be coming from abroad
- One would be able to make an entry in Portugal with a legitimate Schengen Visa
- One must showcase an absence of references within the Portuguese Immigration along with Schengen services
- There should be no presence of conviction of the relevant crime
- Least amount of stay in Portugal which is seven days in the 1st year and fourteen days in the succeeding period of 2 years
Advantages of Portugal Golden Visa program
Following are the advantages golden visa program holder gets
- There is no need to have a visa to enter Portugal
- One would need no visa to travel through Europe including all the Schengen area
- You would get to live and work in Portugal even if you have a residency of another country
- This residency is extensive to the investor’s family members as well
- You would get tremendously low stay periods
- You would enjoy low tax rates
- The investors would get the residency after five years
- The investors would get citizenship after six years
Getting Portuguese Citizenship after 5 years
The amendments in the Portugal law establishes that anyone who has lived in Portugal for the minimum period of five years becomes eligible to apply for Portuguese Citizenship
There are a few more requirements which the investors and their family have to fulfill:
- They should be at least 18 years old or 16 years old but married and legally responsible
- There should be no record of any relevant crime
- Furthermore, one should have adequate knowledge of the Portuguese language to earn citizenship