While Portugal is famous for its Port wine and Cristian Ronaldo, it is also well-known for offering one of the best Golden Visa programs in the world. As an European Union (EU) member state, Portugal offers a high standard of living in terms of work, healthcare, climate, infrastructure, stability, safety, and education. Technically the Portugal Golden Visa is actually a fast-track residence by investment program that grants non-EU/EEA citizens a Portuguese residence permit.
Portugal’s Golden Residence Permit Program, which was established in 2012, enables non-EU/ European Economic Area (EEA) citizens to obtain a special residence permit in exchange for a minimum 5-year investment in Portugal. Thus, the Golden Visa program enables non-EU citizens to obtain a residency permit in Portugal through investment activities.
The most unique feature about the permit is that the investor only has to spend about seven days per year in Portugal to maintain the residency, while they can still reap all the benefits of being an EU resident. This includes visa-free travel in the entire Schengen area as well.
The program has benefited more than 6,500 foreign investors so far. On the other hand, it has also been beneficial for the Portuguese economy as well. The total investment in Portugal as a direct result of the program has reached almost five billion euros.
That’s great news for prospective investors, as the program has broad support from nearly all political parties in Portugal. While a conservative government introduced the program in 2012, the current socialist coalition government has even expanded the program since coming to power at the end of 2015.
By far the leading share of Golden Visas has been issued to Chinese nationals (this share has been declining recently), followed by Brazilian, South African, Turkish, and Russian citizens.
One of the most inviting options under the Portugal Golden Visa Program is the ability to apply for permanent residency and citizenship after 5 years without the need to reside in Portugal. In fact, the applicant and their family need only visit for two weeks every two years in order to renew the Portugal Golden Visa. In fact, Portuguese citizenship can be granted without the applicant has resided in the country. However, the investor having acquired residency through the Portugal Golden Visa Program will need to demonstrate ties to the country and pass a basic language test. Citizenship of Portugal and a second passport conveys the right to live, work and study anywhere in the European Union. The Portuguese residency card granted through the golden visa program allows the holder to travel throughout the EU Schengen zone.