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LISBON, PORTUGAL, July 10, 2021 /24-7PressRelease/ -- Portugal has become a popular destination for digital nomads, entrepreneurs, and business people looking to move abroad in recent years. One of the biggest draws is Portugal's Golden Visa program. The Portugal Golden Visa allows individuals who make certain investments in Portugal to gain residency.
So, if you're not a citizen of Portugal but are looking to get residency in the country, the Portuguese Golden Visa is one way to make that happen. Read on to know more about this program, the process of acquiring the visa, and the benefits. As there are going to be some changes on the program in January 2022, it's time to apply.
What Is Portugal Golden Visa
Let's first understand what this program is. The Portuguese Golden Visa was created by law on February 20th, 2012. With this program, Portugal offers residency in return for an investment in the country.
Real estate acquisition, fund subscription, capital transfer, and job creation are among the investment types the program offers.
Portugal Golden Visa offers its holders many benefits, including being able to stay in Portugal without any additional paperwork necessary. Let's find out more!
Benefits of Portugal Golden Visa
Some key benefits of the Portugal Visa program are:
You get the right to live, work and study anywhere in the country.
You can enjoy the high quality of life that Portugal offers to all residents. A mild climate and an abundance of sunshine are the bonuses.
You can bring your spouse, dependent children under 18 years old, and dependent children who're full-time students with you on Portugal's Golden Visa program. Moreover, dependent parents can join you too, provided that you're able to present proof of dependency.
You and your family members will be able to visit any of the Schengen Zone countries without any additional visa requirements for up to 90 days within 180 consecutive days. A huge benefit for frequent travelers, isn't it?
You don't need to relocate to Portugal to keep your Golden Visa. Staying in the country for seven days on average per year will suffice.
With a Portugal Golden visa, you and your family have access to the healthcare and education services of the country.
After residing there for a minimum of five years, you may be eligible for a Portuguese passport. This will give you access to the European Union as well as the freedom to travel around 188 countries all over the world.
You're eligible for the Portugal Golden Visa program if,
You're 18 years old or above,
You're from a third country,
You have a clean criminal record,
The money you plan to invest belongs to you and isn't borrowed or loaned,
You commit to keep the investment for at least five years.
Portugal Golden Visa Investment Types
Real estate acquisition has been the most popular option in Portugal's Golden Visa scheme so far. Here's what it entails:
Buy a property that has a minimum worth of €500,000. If you purchase one in a low-density area, the investment amount is reduced to €400,000, or
Invest €350,000 in a property that's part of an urban rehabilitation project. If the property is located in a low-density area, the investment amount drops to €280,000.
Make an investment of a minimum of €350,000 in a qualifying Investment Fund. The Portuguese CMVM (Securities Market Commission) regulates the investment options, and the categories include venture capital investment in real estate or start-up tech companies.
Make a capital transfer of:
Minimum €1 million in a bank account in Portugal.
€350,000 investment for research activities in science or technology.
Minimum €250,000 to support the arts or reconstruction of national heritage.
Buy company shares or invest at least €1 million in a company established in Portugal.
Create jobs for at least 10 Portuguese nationals.
Make an investment of at least €350,000 that helps create a commercial company and employs five Portuguese residents on full-time jobs.
One of our community members at GoVisaFree.com obtained her Golden Visa through a fund subscription in Portugal. You can her story on our website: https://govisafree.com/portugal-golden-visa/
What Is Going To Change in Portugal Golden Visa
Starting from January 2022, some changes will be made for specific investment options in the program.
Investing/purchasing a property in metropolitan or coastal cities such as Lisbon, Porto or Algarve will not qualify for the program.
To qualify for the capital transfer investment option, you'll be required to invest €1.5 million instead of €1 million.
The capital transfer for research activities, the minimum investment amount has been increased to €500,000 from €350,000.
The minimum investment amount for capital transfer in an Investment Fund has been increased from €350,000 to €500,000.
The minimum investment requirement for the incorporation of a commercial company and the creation of five jobs has been increased to €500,000 from €350,000.
So if you're looking to apply for Portugal Golden Visa, note that the clock is ticking!
About Go Visa-Free
Go Visa Free is a community of digital nomads, entrepreneurs, and frequent travelers. We share information and tips on having a visa-free and international life. Our primary objectives are to share various aspects of international living and to network with like-minded global citizens.
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