The state project Portugal Golden visa (Portugal Golden Visa) was launched more than 10 years ago to attract money from non-resident investors and citizens of other countries for the development of the economic sphere.
By replenishing Portugal's budget with their funds of legal origin, the applicant receives a residence permit in the country with the right to apply for a residence permit and obtain a passport in the future. In the current year, the program may be awaiting radical changes.
Will Portugal close the "Golden Visa" program?
In mid-February, it was reported that the authorities are considering the option of suspending or completely closing the investment program. The statement was released by Prime Minister António Costa. During the existence of the program, Portugal has received more than 6.9 billion euros in the treasury, issuing more than 11,600 Golden Visas.
António Costa said that the issued documents can be extended, but on condition that foreign residents will use the acquired real estate personally or for a long period for rent. One of the main purposes of canceling the program is said to be to "discourage real estate speculation."
Residents of the People's Republic of China, Brazil, and the United States have taken the lead among those who have obtained a Portuguese residence permit for investment.
The Prime Minister proposed closing the investment project as early as late last fall. In his statement, he stressed that the investment program has outlived its usefulness, having met all its objectives, and there is no reason for further extension.
Portugal Golden Visa - how are things today?
Despite the statements of the authorities, Portugal currently continues to issue a residence permit to foreign residents for an investment fee. Today, this is the only option for obtaining a passport without mandatory residence in the country. The project is designed to attract capital from citizens of countries that are not members of the European Commonwealth. Officially, the program has not yet been phased out, but it makes sense to hurry to participate - it is not known what step and when the Portuguese authorities will take next.
Officially, the program has not yet been phased out. The final decision will be made on March 16 according to the results of the vote. After this date, it will be clear what will happen to the investment program. In any case, you should hurry up and start the registration process immediately!
How can I apply for the Portugal Golden Visa?
The investment program implies several available options for participation.
Investment in real estate (residential property):
To participate in the program, you need to buy residential property for an amount of 280,000 euros or more. Important! Property purchase is not allowed in every region; since 01.01.2022, the authorities have introduced restrictions and even a complete ban on purchases in the most popular and densely populated regions. More unavailable for investment project housing in Porto (some areas), Lisbon, Algarve, and Braga.
Investing in commercial real estate:
To buy commercial real estate, you need to allocate at least 500,000 euros. You can buy real estate for 350,000 euros if the property belongs to an urban rehabilitation project. If the property is located in an area with low population density, you can expect a reduction in the minimum investment threshold (-20%). You can buy commercial property in any part of the country; there are no regional restrictions.
Investments in business projects:
It is necessary to invest at least 500,000 euros in an existing business project (registration in Portugal) and create at least 5 jobs permanently. Employee employment - at least 3 years.
Investment funds:
Provides for an investment of 500,000 euros or more in venture capital or private equity funds.
Transfer of personal capital:
To obtain a residence permit, you must transfer 1.5 million euros to the country's treasury.
Non-refundable investments:
To participate in the program it is necessary to contribute 250,000 euros to the fund for the preservation of national heritage or to invest in the field of research (contribution of 500,000 euros).
Advantages of obtaining a Portugal Golden Visa
Portugal is a developed European country with a temperate climate, a convenient geographical location, and a high standard of living. Golden Visa investors gain access to numerous privileges that this status implies:
- Portugal is a member of the EU and Schengen zone. Residents and citizens of Portugal can legally live in the country, get a job, open their own business, and get an education in any country in Europe.
- The available investment threshold is one of the lowest in Europe.
- The candidate and his family can stay in Portugal for no more than 7 days a year; the rest of the time, they can live anywhere in the world without losing their residency status.
- Last year, Portugal's passport was recognized as one of the most valuable passports in the world - it was ranked among the top 5 best.
- Portuguese citizens can freely enter the territory of 187 countries worldwide.
- Loyal tax legislation. New residents have access to tax benefits and special tax status. Additionally, they are exempt from tax liabilities on various types of personal income for up to 10 years.
There is no need to travel to Portugal in person to participate. Primary documents, applications, and other forms can be transferred through a licensed agent. GARANT IN - a leading company in the field of investment immigration is ready to help you at any stage.
We have been working in this field for more than 10 years; we have hundreds of successfully closed cases and thousands of grateful clients. We take on even the most complicated and hopeless (from the client's point of view) cases. We guide the client from the first consultation to the moment of his final move.
At the first visit, we will listen to your wishes, suggest suitable options, and jointly choose the most suitable solution.
We offer a full range of services: collection, processing, apostilization of documents, application, payment of taxes/fees/duties, selection of the best way of investment, and selection of real estate. We will help you find a university/kindergarten or school in a new place, rent a house, get a driver's license, and pass a medical examination. You do not need to spend precious time and effort on solving current issues, we will do it as quickly and efficiently as possible.
