The Portugal Golden Visa scheme is one of the most immigrant-friendly schemes. The scheme will continue for a long time in Portugal, as the Socialist Party in power has broadened the investment avenues for the Golden Visa. The re-elected Prime Minister has also said that the country welcomes new immigrants.
Portugal in comparison to its counterparts such as Cyprus, Malta, Greece and Caribbean economies, has better and greater returns prospects. The Portugal Golden Visa allows investors an easy and smooth entry into a Eurozone country that provides one of the most stable and best lifestyles in the World.
The Portuguese Economy has entered a golden growth period and it is a key time to invest.
Moreover, the Portugal Golden Visa scheme does not require you to move to the country. Applicants must spend only 7 days a year for 5 years in order to obtain Permanent Residency, after which you can apply for a Portuguese passport. The visa can be renewed every two years providing the applicant spends two weeks in the country.
Some of the advantages of obtaining a Portugal Golden Visa include,
- travelling visa-free in Europe’s Schengen Area,
- eligibility to apply for Portuguese citizenship after five years of legal residency,
- High quality education system,
- healthcare system,
- low crime rate and high lifestyle options,
- low cost of living, in comparison to other countries in Europe
Portugal Golden Visa was introduced during the Great Recession to help attract investment into the country’s housing market.
The Portugal Golden Visa program has proven to be the most popular scheme in Europe with investors attracted to its flexibility and benefits. An investment of €500,000 (or €350,000 reduced option) in real estate in Portugal will gain a residency permit for a family including dependent children.
Real Estate Investment
The property market in Portugal like many southern European countries suffered from the credit crisis and prices in 2015 were still typically 20% – 30% below their 2007 peak. However prices have been rising strongly since then, particularly in Lisbon on the back of the golden visa programme and investors have seen strong gains in recent years. Under the Portugal Golden Visa programme the government of Portugal grants residency in Portugal to people who invest in properties worth at least €500,000. Investors buying into the real estate market in Portugal for the Golden Visa have excellent prospects for capital gain in the coming years.
€350,000 Investment
It is possible to obtain the Portugal Golden Visa through a reduced investment of €350,000 into real estate requiring renovation. Such projects need to be approved by SEF (Serviço de Estrangeiros e Fronteiras – Foreigners and Borders Service) and qualify for the reduced investment amount. The purchase of real estate for recovery, with a minimum investment amount of € 350k on construction date dating back more than 30 years, or in urban recovery areas.
Portugal Investor Visas for non-EU nationals provide an opportunity to obtain residence status and citizenship after the qualifying period.
Now enormously popular Portugal Golden Visa program began in 2012, and by May 2020 has been credited with investments of over 5.2 billion euros from over 20,000 persons (8,736 investors and 14,936 family members). It gave a huge boost to the economy which had faced a massive financial crisis in the past, along with stability for the country. Since the inception of the program, Portugal has emerged as one of the fastest growing economies in Europe.
Portugal is a safe haven for those seeking a backup option and investment schemes that require large capital outlays, and higher risk. Portugal is a great global safety net conjoined with world-class schools and education, excellent climate, a booming economy, fresh seafood with high E.U. food safety standards, along with widely spoken English, award winning medical services, emerging International community, and clean environment. With all of this combined with a streamlined visa process in the form of Portugal Golden Visa, it is one of the great residency programmes in the world right now.
Migration Investment programmes are now the fastest growing area of immigration law globally as people come to realise residency and a second Citizenship is not just desirable but a vital part of any effective global freedom, privacy and security strategy. From this perspective, Portugal Golden Visa is an unparallel option.