golden visa — is a residence permit program in Portugal, which allows citizens, outside the European Union, live, work and study in Portugal in exchange for significant investment in the country. The program was introduced in 2012 year as a way to attract foreign investment and stimulate the Portuguese economy.
How to get «golden visa» through investment
14 april 2023 the text of the bill was presented, closing the Portuguese investor visa program. The law has not yet been promulgated. Details
To participate in the program, it is necessary to invest in the economy of Portugal. These investments may include real estate, financial instruments or business support.
Once the deposits are made, you will need to provide the following documents:
- Visa application form;
- The documents, confirming financial well-being;
- Certificate of non-conviction;
- Medical certificate;
- Marriage certificate (if the marriage is registered).
After completion of all procedures and submission of documents, you will receive a temporary residence permit. After five years of legal residence, you can apply for a permanent residence permit (PMZ), and then citizenship.
When obtaining a residence permit for investment, the applicant does not need to take an exam in Portuguese and permanently reside in Portugal. Compulsory stay in the country 7 days a year.
But to become a citizen of Portugal, you will need to pass a test in Portuguese culture and history, as well as a language test, demonstrating proficiency in Portuguese.
Obtaining Portuguese citizenship through investment — difficult process, but it opens up a lot of possibilities, such as travel and work throughout the European Union, and access to world-class education and healthcare.
There is 7 investment options for obtaining a residence permit in Portugal
Real estate investment
To obtain a residence permit in Portugal by investing in real estate, need to invest from 280 000 €, when it comes to real estate, which is older 30 years old or in need of repair. If an investor wants to buy a new commercial property, then the minimum amount 500 000 €. Taxes and fees apply:
- Property transfer tax - approx. 6-8% from the value of the property;
- stamp duty - 0,8% from the cost
- Annual property tax - 0,4% from the cadastral value.
Additional payment will be required for each family member:
- Medical insurance from 400 €;
- Entrance fee - 533 €;
- Residence permit card - 5340 €.
Investment fund units
Investment fund - financial company, which invests in such assets, like real estate, Portuguese firms, industrial facilities and stock market. Minimum investment of 500 000 € due from 5 to 10 years. Commissions are charged, taxes are charged:
- Investment fund commission up to 7,5%;
- Annual income commission - 0,5-3%;
- Tax on investment income for non-residents – 0%;
- Tax on investment income for tax residents – 14%.
Extra charge for each family member:
- Medical insurance - from 400 €;
- Entrance fee - 533 €;
- Residence permit card - 5340 €.
You can get a residence permit when opening a business or acquiring an existing one. Usually, investment must be at least 500 000 euros, and business must provide at least 5 new jobs.
Art and culture
The most inexpensive investment option - you need to allocate a minimum to support Portuguese art 250 000 €.
In the development of science, the investor needs to invest from 500 000 €.
The investor will have to open his own business in Portugal and open a minimum 10 work places.
To use this option, the investor needs to transfer his capital in the amount of at least 1,5 million euros to Portugal.
Benefits of a residence permit in Portugal
Residence permit in Portugal provides a number of advantages, including:
- Access to the Schengen area: Portugal is a member of the Schengen area, which means, that with a residence permit you can freely travel around 26 Schengen countries without the need for a visa.
- Low tax rates: Portugal has one of the most favorable tax regimes in Europe with a flat tax rate of 20% from income and a tax-free threshold of 10 000 euro per year. Besides, there are tax incentives for pensioners and non-residents.
- High quality of life: Portugal is known for its beautiful beaches., mild climate and delicious cuisine, which makes it a desirable place to live.
- Affordable cost of living: compared to other Western European countries, the cost of living in Portugal is relatively low.
- Excellent healthcare: Portugal has a public health system, accessible to all residents, as well as private healthcare options.
- Growing economy: Portugal has a growing economy with a focus on such industries, how technologies, tourism and renewable energy.
- Stable political climate: Portugal has a stable political climate, which is attractive to those, who seek stability and security in their host country.
- Multicultural society: Portugal is a multicultural society with a long history of immigration, which makes beginners feel at home and at home.
Disadvantages of residence permit in Portugal
Although a residence permit in Portugal can provide many benefits, there are also some potential downsides, which should be taken into account:
- The process of obtaining a residence permit in Portugal can be expensive, because there are fees, related to the application, extension of residence permit, passing background checks and medical examinations.
- A residence permit in Portugal is usually issued for a limited period of time., usually one to two years, and must be renewed regularly. This can lead to additional costs and administrative problems..
- Risk of deportation. If a resident violates the terms of their permit or commits a crime, he risks being deported from Portugal.
- Non-citizens may have difficulty accessing certain social services, such as healthcare, which are usually only available to citizens or permanent residents.
It is important to consider these shortcomings carefully., before applying for a residence permit in Portugal.