So far, the most popular residency by investment program throughout Europe and the world is-the & Portugal Golden Visa Program; Since its beginning in 2012, more and more investors have been investing in the golden visa scheme.
By now, you must be wondering the reasons why this program is so sought after by the majority of investors around the world. So, in persuasion, here we have mentioned the incredible facts about this most sought-after program to help you make an informed decision at the earliest.
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What is Portugals golden visa program?
Portugal Golden Visa Program was launched in October 2012 and is also known as the
& residence permit for investment activity (ARI). It is a residency by investment program designed specifically for non-EU citizens.
After the country faced an economic crisis in 2008, the government decided to attract
international capital to Portugal. So, the golden visa program was launched to achieve this
mission. And since its inception, the program has garnered great success. Since then, the
scheme has raised more than €6 billion.
Portugal has something to offer everyone, from the dreamy landscape, welcoming people, and mouth-watering cuisine, to a plethora of natural beauty. It even offers high-quality living at highly affordable costs. All these features make the country an attractive destination, compelling foreign investors to invest in this scheme to get the right to live, study, or work.
Above all, the scheme offers the incredible opportunity to get permanent citizenship or
residency status in Portugal in just 5 years.
5 incredible facts about the Golden visa program proving its worthiness
● You can qualify for residency in the country by investing €280,000. It is by far one of the
lowest investment thresholds in the whole of Europe.
● You arent required to move in to keep your residency permit active. It will work even
when you stay in the country for an average of 7 days/ year.
● You become eligible to apply for permanent citizenship in just 5 years. It is the quickest
period in the whole of Europe to get permanent residency.
● You get visa-free access to 188 countries when you become a Portuguese citizen.
● You become eligible to work, study, and live in the country. You get full access to high-
quality public services such as education and healthcare.
1. Travel & visa-free countries
The residency by investment scheme registers you in the Schengen area central system. It
allows you to travel visa-free within Europe.
With the completion of 5 years, if you wish to receive permanent citizenship in Portugal, you get
a Portuguese passport. It allows you to roam visa-free to around 188 countries.
2. Permit to Live, work, and study
The golden visa permits investors to live, work, and study in the country. You require medical insurance when you choose to live full-time in the country with your golden visa. However, you get full access to high-quality public services- medical and education.
Talking about schools, they follow the Portuguese curriculum. In addition, the state has several American International and British private schools.
Talking about a work permit, you are allowed to work anywhere. You even become eligible to start and run a business in the country.
3. Family Reunification
Once you become the main applicant, you are permitted to extend the golden visa scheme to include your loved ones. Even the application process runs simultaneously for the main and the dependent applicants.
So, along with the main applicant, the following family members are eligible to apply for the golden visa scheme:
● Spouse
● Children aged under 18 years
● Parents of the main applicant (aged over 65 years)
● Dependent children (aged under 26); only if they are full-time students and unmarried
4. Citizenship and Passport
After a period of holding a golden visa for 5 years, you become eligible to apply for permanent residency or Portuguese citizenship.
To qualify for Portuguese citizenship, you must have:
● No outstanding tax payments
● Clean criminal records
● Entered and passed a basic language test in Portuguese
5. Tax Benefits
The mere hold of a golden visa will not bring tax responsibilities unless you have spent more than 183 days of a year in the country. If you live for that number of days, you automatically become a tax resident. However, the tax regimen in Portugal for foreign investors is highly favorable.
Endnote
Portugal is indeed a safe, secure, and highly affordable country. Its high-quality living, amazing climate, good healthcare, education systems, and solid infrastructure attract foreign investors to invest in the country.
And given the wide range of incredible benefits the foreign investors gain access to after holding their golden visa, this scheme becomes even more worth investing in.
