Best beach towns in Portugal to live

When you hear about Portugal, you will usually think of the popular cities such as Lisbon and Porto but also the beautiful coastal towns with beautiful views and beaches. There are plenty of places when choosing a beach town in Portugal and in this article, we’ll show you some of the best beach towns you could invest in.

Most beach towns are concentrated either around Lisbon or the region of the Algarve, but don’t let that limit you in your exploratory efforts.

These seaside destinations will leave you speechless while satisfying any thirst for the sea and sand.

Without any further ado – let’s begin…

Comporta

Comporta is a charming beach town about an hour’s drive south of Lisbon. Situated on the Alentejo coast, Comporta is blessed with long stretches of empty beach backed by dunes, pine forests and rice paddies.

Comporta is a hideout for celebrities, artists, architects, and those searching for one of the best hideouts in Europe. If you have an online business, Comporta is the ideal place to work remotely and enjoy a sophisticated and private lifestyle!

Vila Nova de Milfontes

The largest beach town on the Alentejo Coast, Vila Nova de Milfontes features an exceptional combination of beaches, history and nightlife. There are several secluded spots along the coast where you can go for a quieter living.

The population of Vila Nova de Milfontes swells as high as 50,000 in summer, if you’re looking for a festive beach atmosphere while also having quiet spots to unwind, then Vila Nova de Milfontes is your go to.

Lagos

The beautiful Algarve region in southern Portugal ends in red and yellow cliffs, sea caves, and rocky outcrops on golden beaches. Lagos is one of the most interesting of these towns and is located right beside some of the most beautiful beaches in the world.

Lagos has a lively nightlife, it’s a beach town that offers something for every kind of traveler, but it’s best for families because it’s away from the younger and overcrowded places.

The Algarve region is considered a high-density interior area, meaning the only properties available here are commercial. If you’re looking to invest in commercial properties for the Portugal golden visa then Lagos it’s your best bet!

If a seaside town isn’t necessarily on your list, don’t let that limit your efforts. At Golden Port Visa we’re going to help you find the perfect property that fits your lifestyle.

We have an exclusive portfolio where you’ll find the best properties that no other immigration consultancy has.

What you need to know about Portugal property rental income

Portugal has attracted foreign investors worldwide to invest in the Portuguese real estate market. Investors are guaranteed favorable rental property income, which has raised the profile of Portugal as an investment destination and a beautiful home to many.

The real estate market has attracted investors for the construction and purchase of properties. And as the world falls in love with Portugal, this has generated many hotels to cater to the millions of tourists in the country – this is the best time to invest in Portugal!

But every investor in Portugal needs to be aware of what is expected of them regarding tax obligations. This article will cover everything about the Portugal Golden visa rental income.

What taxes should I be aware of?

When purchasing a property in Portugal, you should be aware of two important taxes:

Property acquisition tax (IMT): It can range between 6% and 8%, depending on what kind of property you buy, where in Portugal is located and at what stage the of its construction is when you buy it.
Annual property tax (IMI): It can go between 100 to 500 EUR, also depending on similar factors as the IMT.

You’ll also have to pay stamp duty. This is calculated at 0.8% of the price of the property you’re investing in.

The land registry fees are valued at €1,000 and negotiate lawyer’s fees.

Learn more about buying a property in Portugal here.

Rental income tax in Portugal

As a foreign investor or a resident, if you own a rental property in Portugal, you must pay tax on the income derived from it.

Rental income tax in Portugal has different categories; if you searched for this, you might have seen it is a bit complex.

Here’s a simple overview of the categories in rental income in Portugal:

Individual not resident in Portugal

Rental of a Portuguese building

If you’re a natural person not resident in Portugal and you’re renting under a furnished or unfurnished rental contract, the tax rate is 25%.

This is based on the rent you’ll receive, from which are deducted the property tax and the maintenance costs of the building.

Furnished tourist accommodation for rent in Portugal

You’ll be subject to VAT if your turnover is over €10,000.

However, it is advisable to consult a competent accountant as it is quite possible to adopt a simplified income tax if your turnover from seasonal rents doesn’t exceed €200,000 per year.

A non-Portuguese resident will be taxed here at 25% for a tax base of 35% of the turnover. This amounts to an overall tax of approximately 8.75% of your turnover.

Individual resident in Portugal

Taxes on income from a Portuguese property

If you’re a Portuguese resident and decide to rent out one of your properties in Portugal. Whether furnished or not, you’ll be taxed at 28%.

The basis of taxation is the rents received, net maintenance costs, and property tax.

Rental of furnished apartments for tourists

You’ll be subject to VAT if your turnover exceeds €10,000

Taxation on this type of rental of real estate in Portugal by a resident is between 14.5% and 48% on the basis of 35% of turnover.

Legal person resident in Portugal

Taxes on property rental income in Portugal

Whether the property is rented, furnished, or not, the tax rate is 21% plus a possible municipal tax of up to 1.5%.

Taxation is based on the net accounting result, with the possibility of deducting interest and depreciation.

Rental of furnished apartments for tourists

If you buy an apartment in Portugal on behalf of a company to rent it to tourists, this activity will subject you to VAT at the rate of 6%.

The tax rate is 21% (excluding municipal tax) and the tax base, if the simplified scheme is opted for, is 4% of turnover for a hotel activity.

Non-Habitual Tax Residents Portugal

The Non-habitual tax scheme (NHR) registers foreigners who are residents in Portugal. This registration ensures that double taxation on income earned from other countries doesn’t occur.

If you’re a high net worth person, retiree, or successful entrepreneur with income from other countries, you can benefit from the NHR.

Here’s a list of the benefits granted from registering in the NHR tax scheme in Portugal:

Tax exemption on all foreign earned income
You don’t pay wealth tax
You won’t pay inheritance tax
Subsidized rate for all income earned in Portugal (you’ll pay 20% tax for 10 years on all your income earned in the country)

When you earn your income in Portugal, you’re to pay income tax. Depending on whether you’re a tax resident or not, you’ll still pay taxes. The only difference is the rate at which residents and non-residents pay.

Spain vs Portugal golden visa

Portugal and Spain’s residency by investment or Golden visa attracts hundreds of investors each year for the benefits and advantages of holding a European residency permit.

Both countries offer golden beaches, exquisite gastronomy, amazing weather year-round, and a stable lifestyle in the heart of Europe.

It is no wonder that so many high-net-worth individuals from the United States, UK, Middle East, and beyond are seeking legal residence by investment through these nations’ Golden visa programs.

If you’ve been wondering which golden visa program is right for you, this article will help you sort that out.

Portugal and Spain provide the Golden Visa programs to non-European Union nationals to obtain permanent residency – or citizenship in the long run and gain access to the European Union.

What are these Golden Visa Programs?

Portugal = easy and affordable investment options.

Portugal’s Golden Visa program was launched in 2012 as a legal process based on the law that invites foreign investors from non-EU countries to obtain fully valid residency permits in Portugal for themselves and their families in exchange for a qualifying investment into the country.

The Portuguese Golden visa requires applicants to spend a minimum of €280,000 on real estate in low-density areas of Portugal.

The minimum residency requirement is 7 days the first year and 14 days the following years to maintain your residency permit. You’ll be able to apply for citizenship after 5 years.

Spain = fastest way to get a temporary residency permit.

Spain’s Golden Visa program was launched in 2013 to encourage foreign investment and welcomes their families in exchange for a qualifying investment to boost the state economy.

The Spanish golden visa requires applicants to spend a minimum €500,000.

In Spain, the rules are more flexible. There is no residency rule to maintain the visa, you’re only required to visit Spain once in the first year.

The Spanish Golden Visa lets you first live as a temporary resident with an opportunity to become a permanent resident after the first five-year period. You’ll be able to apply for Spanish citizenship after you live in the country for ten years.

Both programs allow you to obtain valid residency permits for yourself and your family, eventually leading you to the possibility of getting an EU passport.

What benefits will you get as a European resident?

Portugal and Spain’s golden visas offer similar fantastic benefits and advantages for non-EU residents:

Freedom of movement: Movement without restrictions in the Schengen Area.
Health & Education: You and your family can enjoy quality education and world-class healthcare in Portugal or Spain.
Pathway to citizenship: Both programs offer an indirect path to citizenship if you meet all the residency requirements, but the time to get there will differ.
Ease of process: both programs have an easy, straightforward application and renewal process.

Which Golden Visa should I pick?

We’ve prepared this comparison table to help you sort out which golden visa works best for you.

Pathway to EU citizenship

Once you get a golden visa, you must meet the criteria to apply for citizenship. Here’s a quick overview of Portugal and Spain’s requirements.

Citizenship requirements for Portugal

Five years of living in Portugal, on average seven days per year
Having no unpaid taxes in Portugal
A2 Portuguese language exam
No criminal record in the home country

Citizenship requirements for Spain

10 years of living in Spain uninterruptedly
No criminal record in the home country
A2 Spanish language exam
Take a test on knowledge of the Spanish Constitution and social-cultural customs

Family eligibility

Portugal’s golden visa allows a spouse and dependent children (under 18 years old or still completing studies) to be included, as well as your parents – if they’re dependent on you.

For Spain, the investor’s spouse, children under 18, and parents can be included as dependent on an application.

Portugal and Spain’s golden visa taxation

When you hold a golden visa in Portugal or Spain, you won’t be required to become a tax resident unless you spend more than 183 days of the calendar year in either of the two countries.

Here’s a quick overview of Portugal vs Spain golden visa taxation:

Country	Income tax	Corporate tax	Inheritance tax	Foreigner tax
Portugal	14.5% – 45%	21%	None	NHR tax exemption scheme
Spain	19% – 45%	25%	1% – 7% (depending on the region)	None

Portugal has one of the most favorable tax schemes for foreigners in the EU. The Non-Habitual residency (NHR) gives tax exemptions to golden visa holders for up to 10 years.

Portugal’s golden visa program holds the most benefit for those whose country of citizenship does not require them to declare their global income.

If you’re from the U.S., you can certainly take advantage of the golden visa, but whether it’s the best option for you depends on your personal tax obligations.

The holder of the NHR status does not need to pay tax on:

Dividends, interest and royalties
Capital gains
Rental income from a real estate outside of Portugal
Income from employment in another country

It’s important to keep in mind though, that Spain tax investors on their worldwide income if you live in Spain for over 183 days per year. Tax is charged at 24.75% on income derived in the country, like rental income.

A major plus for the Portuguese program is the ability to apply for a Portuguese passport five years prior to obtaining residency, contrary to the ten years needed for acquiring a Spanish passport.

Golden Port Visa is here to assist you through the entire process. We are more than an immigration consultancy – we are your trusted Portuguese partner that will help you achieve your relocation goal.

We specialize in assistance with residency and property investment in Portugal.

Portugal Golden Visa Real Estate Investment

The Portugal Golden Visa has met some major changes on 1 st January 2022. According to the new rules, the regions where you can make real estate investments to qualify for Portugal’s golden visa have changed, and the investment threshold has increased.

This post will give you insights into the new changes and the current state of the Portugal golden visa properties eligible for Portuguese golden visa.

It’s true that there has been confusion and panic about properties in Portugal. However, the new rules don’t lower your chance of getting a Portugal golden visa through real estate investment.

Overview of Portugal Golden Visa changes

Two main changes have been introduced:

Where you can buy a residential property has been limited to some locations.
Investment amounts for capital transfers and cultural and fund investments have been raised.

While the changes on the restriction for property acquisition might be confusing. It’s important that you become familiar with the terms of low-density areas and high-density areas, as well as interior and non-interior regions.

If an area has fewer than 100 inhabitants per km2 or a GDP per capita less than 75% of the national average, it’s named “low-density”.

In “interior areas,” you’re free to make either residential or commercial property investments. However, in “non-interior,” you can only invest in commercial properties, such as offices or hotels.

Eligible Real estate investment options

Real estate investment is still an option for Portugal Golden Visa investors. Here are some routes you can take to qualify.

Residential real estate

You can choose to buy residential real estate in an interior area and pay €500,000. But there’s also the possibility of investing €350,000 in an urban rehabilitation project.

If the residential property is in a designated low-density area in Portugal, you’re also eligible for a 20% discount on the minimum investment threshold.

Commercial real estate

You can buy commercial real estate anywhere in Portugal if it is worth at least €500,000.

An investment of €350,000 is also possible if the property is part of an urban rehabilitation project. You’re also eligible for a 20% drop on the minimum investment threshold.

If you’re going to invest in real estate in Madeira Islands or the Azores. The minimum investment for these areas is €500,000, but there is no discount available as these islands aren’t included in Portugal’s low-density areas, as well as Lisbon, Porto and the majority of the Algarve.

You might be thinking that buying a house in popular spots and qualifying for a golden visa at the same time isn’t possible.

That’s not true, though.

Although the “most famous” places have been taken away from the equation, there are many locations where you can find your ideal property. Such as Comporta, Alentejo and Sagres.

Getting a golden visa in Portugal through real estate investment is still possible. Once you go through all areas, you’ll realize that Portugal’s real estate scenario is promising, but this search isn’t a simple DIY.

Whether you choose to live in the historical city of Évora or the Seaview from coastal towns.

You’ll need a local team assisting you from the best real estate options to beating the local bureaucracy.

Golden Port Visa is here to assist you through the entire process. We are more than an immigration consultancy – we are your trusted Portuguese partner that will help you achieve your relocation goal.

We work with exclusive real estate developers in Portugal to offer a wide array of properties to fit your needs and lifestyle. Contact us to schedule a free call or send us an email to know more about the program.

Portugal Low-density areas: Golden Visa eligible areas

Low-density areas in Portugal are getting a lot of attention from foreign investors and locals. As major cities are getting crowded daily, people are looking for quieter spots. In this post, you’ll learn more about low-density areas and how you can invest.

But first, let us explain what a low-density area is.

Low-density areas are regions that have less than 100 inhabitants per square kilometer or per capita GDP. For example, Lisbon and Porto aren’t listed as low-density areas.

However, the Algarve and some districts of Évora are included in the low-density areas.

Considering the rising popularity of Portugal both as a hub for technology and financial centers, investing in the country has become more important.

Let’s have a look at some of the most important advantages.

Spend less money to obtain a European residency

The purchase of real estate for €280,000 is one of the lowest investment requirements in Europe’s golden visa programs.

Furthermore, spending an average of seven days each year in Portugal may make you eligible to apply for citizenship after five years.

Invest where you can make a profit

If you compare Lisbon and Porto’s real estate market with real estate in low-density areas, you’ll find it’s still more affordable than other bigger cities in Europe.

Portugal has hit big numbers in tourism in the past two years. And as the world is falling in love with Portugal, if you buy a property in Portugal, you can rent it out and earn a high profit.

Short-term touristic renting is getting popular, which makes real estate a good investment to go with.

These are some of the best low-density areas you might want to look at in Portugal.

Alentejo

The Alentejo region of Portugal is a popular rural tourism destination. Many wineries are located here.

There are many areas in Alentejo that are eligible for the Portugal golden visa. From excellent beaches to rolling hills, Alentejo has ample options for you.

Here’s a short overview of some places you want to look:

Évora

The capital of the Alentejo. Évora is two hours from Lisbon and a little over two hours from the Spanish border. Buying a house here means you’re still very close to Lisbon and can enjoy the quiet life in the countryside.

Comporta

As Comporta is on the beachside, it is an ideal location for tourists. People from all around Europe consider Comporta as a runaway location for vacations.

The properties in Comporta are more affordable than those in Lisbon and other major cities in Portugal. You can choose from various types of houses here.

We specialize in assistance with residency and property investment in Portugal. Contact us to schedule a free call or send us an email to know more about the program.

Everything you need to know about the ETIAS Visa Waiver

Uk citizens, Americans and many other travelers will soon face another hurdle when traveling to Europe. This article will outline everything you need to know about the ETIAS Visa Waiver, from its costs to what it means to you as an American or UK traveler.

The ever-changing global dynamics and the concerns of the European Commission regarding border control created the need for a system to streamline the process, which is now known as ETIAS, the form of an automated travel authorization system.

Traveling from your country to several European countries can be as simple as searching, booking, and flying. But with changes like these, you realize how non-consistent global regulations are regarding freedom of movement.

What is ETIAS Visa Waiver?

ETIAS stands for European Travel Information and Authorisation System. A complete automated IT system designed to optimize EU border security. It will keep track of all non-EU nationals who currently do not need a visa to enter the Schengen area.

The process of the ETIAS travel authorization is completely online, quick, and easier to navigate than a standard visa application which usually requires in-person meetings with the consulate officials.

This system will gather, record, and update all the information regarding your travel to Europe.

Based on this information, the authorization system will allow or refuse entry to the Schengen Area.

When does the ETIAS begin?

According to European Officials, the ETIAS launch date has been pushed back from 2021 to 2023 – the delay gives border officials and travelers time to fully prepare for the new method.

How do I get an ETIAS Visa Waiver?

To apply for the ETIAS, you need to complete an online form that requires you to answer sets of questions that will determine whether your application is approved.

This will take around 20 minutes to complete because it is short, and you can submit it and pay the application fee electronically.

You must meet the eligibility criteria, and your purpose for visiting a country (or countries) in the Schengen Area must meet the requirement for the ETIAS.

You’ll need a valid passport to apply. The form will ask for information including but not limited to your name, work experience, first European Union country union you intend to visit, any criminal record, background and eligibility questions, etc.

It may not be a visa, but for British citizens, ETIAS is mandatory to enter European countries. A person who does not have valid authorization will not be granted entry to any EU country.

That is why it’s extremely necessary to have a second passport because you never know when you’re at the border being refused entry to a certain region you’ve traveled to all your life to.

How long is the ETIAS valid?

Once granted, your ETIAS application is valid for three years. You will be allowed unlimited visits to Schengen member nations throughout that time. Each visit can not last more than 90 days in 180 days.

How much does ETIAS Visa cost?

An ETIAS Visa waiver will cost you around €7 per application. The fee is valid for individuals aged between 18 to 70 years old.

Do UK citizens need a visa for Europe?

UK citizens do not need a visa to enter Europe. However, as of 2023, they will need an ETIAS visa waiver. British passport holders can travel to and stay in the Schengen states visa-free for up to 90 days in 180 days.

ETIAS visa waiver is mandatory for all British nationals planning a trip to Europe for business, tourism, or transit.

Do Americans need a ETIAS Visa Waiver?

Yes. U.S citizens over the age of 18 will be required to apply online for the ETIAS online visa to enter any of the Schengen member countries.

All US citizens traveling to Europe for short-term stays will need an ETIAS Visa with them before their trip.

If your trip is shorter than 90 or 180 days, you can travel around Europe with a single ETIAS authorization.

With so many regulations, countries merging, and border shifts, you’ll find yourself in a county you don’t feel comfortable in, and they are not treating you well.

Most people will continue this life of discomfort by not taking action.

We specialize in assistance with residency and property investment in Portugal. Contact us to schedule a free call or send us an email to know more about the program.

Portugal Golden Visa Investment Options: Which one to choose?

When it comes to golden visa programs, Portugal’s always come to the mind of investors by being known as the most flexible program. We’ll introduce you to the different Portugal Golden Visa investment options, their pros and cons to help you choose the option that works best for you.

Before investing in Portugal, you’ll need to obtain a NIF Number and open a Portuguese bank account. This is one requirement to opt for the Portugal Golden Visa program. We invite you to learn more about the Portugal Golden Visa Investment requirements here.

Once created, you need to choose an investment option. We’re going to list the options offer by the Portuguese government and then go in-depth into each one:

€500,000 investment in Real Estate (commercial properties or high-density areas)
€500,000 investment in a Fund in Portugal
€350,00 investment renovation of a property that is 30 years old, or;
€280,000 investment in the renovation of property located in a low-density area
€1.5 million capital transfer
Creation of 10 jobs in Portugal
€250,000 donation to Arts/ National Heritage/ Culture
€500,000 investment in Scientific and Technological research

Portugal Golden Visa Investment Properties: The most popular option

This investment route is what most investors choose to go through. It can be any type of property located anywhere within Portugal.

However, as of January 1st, 2022, residential properties in Lisbon, Porto, and mainland coastal towns don’t qualify. If you want to go for these spots, you can invest in commercial property and be eligible for the Portugal Golden Visa.

Portugal has no restrictions on foreigners acquiring properties. This option is the most attractive as you have the opportunity to invest in the growing Portuguese real estate market.

You can then choose to rent the property or live in it yourself.

Renovation of property or properties located in low-density areas

The government in Portugal offers this lower investment threshold for investors who are willing to purchase a real estate property that is at least 30 years old and renovate it.

Keep in mind though, that it’s unlikely you can find such options in city centers, especially Lisbon.

If you choose to make a real estate investment or renovate a property in a low-density area in Portugal, you get a 20% reduction on the minimum investment required.

If you want to look for a property in a low-density area by yourself this is going to give you some headaches. You need to know the area, the neighborhoods to find your ideal property – having a trusted Portuguese partner that’ll give you local insights will make the process easier and less stressful.

For more information on real estate in Portugal, we recommend you our Guide on buying a property in Portugal.

€500,000 Investment in a Fund in Portugal: High Risk, High Reward

This option gained popularity in 2019 because it has a low minimum investment price and low costs. This investment has to meet specific qualifications to be valid for the Golden Visa.

Some qualifying funds focus on real estate, while other focus on equity, companies, startups, or commodities.

Before investing in one, you should know the pros and cons of the Portugal Golden Visa investment fund:

Pros

No extra costs, unlike real estate acquisition.
Someone else manages the fund, and you won’t have to worry about your investment.
You’ll diversify your investment rather than investing in just one or two properties.

Cons

It’s hard to find and identify qualified funds, meaning your GV application might take more time than those choosing the real estate option.
It’s riskier than conventional investments like real estate.
Exiting can be difficult if you wish to get out before the fund dissolves
Someone else is in control of your investment

If you go with a Golden Visa fund, you should expect to be presented with low to medium-risk options and returns accordingly.

Capital transfer: Convenient option

This is the most straightforward route to the Portugal Golden Visa. Make a €1.5 million capital transfer, and you’re done.

This option is the most conservative since your capital will simply move from one place to another without investment risk.

Your capital would be sitting there, locked away safe and sound, but without the chance of earning returns.

If the amount drops under €1.5 million at any point, the Golden Visa status could be revoked. Once you become a permanent resident or a Portuguese citizen, you’re free to remove the capital from the bank.

Creation of 10 jobs in Portugal: The cheapest option

There is no minimum amount you’re required to spend on job creation. You need to found and run a company for at least five years (until you become a citizen or permanent resident) and create ten jobs within the company.

The ten positions need to be newly created and full-time.

While it can be cheap and convenient to start a company and hire an expert to run it for you, you need to have at least ten people employed in this company and pay them full-time salaries.

It might take a while for a new company to see any returns on your investments.

Donation of €250,000 to Arts/ National Heritage/ Culture

This option seems to be quite ambiguous as offered by the program. You must donate €250,000 to Portuguese Art, National heritage, or culture to qualify for this.

The upside of this route is that it’s cheap and convenient. Once you identify the institution to donate to and do the paperwork, it’s done.

The downside is that it’s a donation. You’ll be saying goodbye to your money forever, but you get a residence and eventually Portuguese citizenship.

€500,000 Investment in Scientific and Technological Research: The Ambiguous Option

A €500,000 investment in scientific or technical research is conducted by an accredited national institution. This route’s terms are so unclear that nearly no one chooses to go throught it.

The Portugal Golden Visa program is anything but lacking investment options. As a quick summary, you can go the Real Estate route if you want to live or retire in Portugal or if you’re looking for a traditional investment.

We specialize in the Portuguese residency by real estate investment. At Golden Port Visa, we’ve worked with clients from all over the world and help them find their ideal property in Portugal and get a Golden Visa.

Still have some questions? Check our Portugal Golden Visa FAQ here here or contact us and speak to our consultants who can assist you.

FAQ - Portugal Golden Visa Investment Options

What is the cheapest investment option for Portugal golden visa?

Technically, it’s the option to create ten jobs. But remember the employees must be kept throughout the entire golden visa process and must be paid a full-time salaries. We recommend going with the real estate investment which gives you a return at the end of five years.

Can foreigners buy property in Portugal?

Yes! Portugal has no restrictions on foreigners buying property whether is commercial or residential in Portugal.

Is it better to invest in property in a low-density area in Portugal?

If you choose to invest in a low-density area, you get 20% off the minimum investment. This could be a smart idea if you plan to retire in Portugal or have a idyllic lifestyle in Portugal.

Does Portugal golden visa lead to citizenship?

Not directly, but yes. After five years of having the golden visa, you could apply for Portuguese citizenship if you’ve lived there for at least six years and are a tax resident here.

Greece vs Portugal Golden Visa Program

Last update Greece vs Portugal golden visa: 20.09.2022

Are you trying to decide between the Greece vs Portugal golden visa programs?

If so, you are not alone. Both countries offer attractive golden visa programs that grant the holder the right to live and work in the country, as well as access to world-class education and healthcare systems.

In this blog post, we will compare the Greece vs Portugal golden visa programs to help you make an informed decision.

We will cover the requirements, benefits, and costs of each program, as well as the pros and cons of each country.

Whether you are looking to relocate for business or personal reasons, we hope this comparison will help you choose the best golden visa program for you.

Overview of Greece VS Portugal Golden Visa

There are common similarities between Greece and Portugal’s programs. They both are stunning and safe countries, with sunny Mediterranean weather and low living costs, delicious food, beautiful beaches, and rich culture, no wonder why so many tourists visit these countries every year.

Both schemes offer various qualifying investment options for non-EU citizens, allowing applicants and their families to get an EU residency in a few months.

Both programs eventually lead to the possibility of getting an EU passport.

So, you might be thinking, what are the differences then?

Portugal Golden Visa Program = Easy and fast tracked path to EU citizenship

The Portuguese Golden Visa requires applicants to spend a minimum of €280,000 on real estate in low-density areas of Portugal. You must spend an average of seven days the first year and 14 days the following years. Its process is simple to apply for temporary residence and also for Portuguese citizenship after five years – which grants you all the benefits of being a European Union citizen.

Greece Golden Visa = Cheap way to EU citizenship

The Greek Golden visa requires applicants to spend a minimum of €500,000 (previously €250,000) on real estate in Greece. This is sufficient to qualify for a Greek residence visa for the primary applicant and many family dependents (including dependent children under the age of 24 and both spouses’ parents). There is also no necessity to spend any time in Greece.

What are the benefits of being a European Resident?

Having citizenship in one of the European nations is an attractive and advantageous offer. Consider the key benefits of obtaining European citizenship:

High living standards, a modern healthcare system, and a high-quality education system.
Freedom of movement. What does this mean to you? Being an EU citizen allows you to work, travel and study anywhere within the Schengen area. A key benefit if you’re an entrepreneur with foreign partners.
There are no conditions for permanent residency, except in Portugal, where one must remain for at least a week in 365 days to have one’s status in the extended country.
A spouse and children may be granted residency with the main applicant. In some jurisdictions, even parents may be included in the application.

Which Golden Visa Program should I pick?

Pathway to European Citizenship

A Golden Visa is a pathway to permanent residency in a country. Once you obtain a Golden Visa, you must meet their citizenship criteria to apply for citizenship. Here’s a quick overview of Greece and Portugal’s requirements.

Citizenship requirements for Portugal:

Five years of living in Portugal, on average seven days a year
Having no unpaid taxes in Portugal
A2 Portuguese language exam
No criminal record in the home country

Citizenship requirements for Greece:

Seven days of living in Greece for more than 183 days each year
Greek citizenship examination
No criminal record in your home country

Golden Visa Europe Programs’ Taxation

This has nothing to do with the Golden Visa program but is a concern for everyone. As long as you’re not a tax resident in these countries, you only owe taxes on income earned in the hosting country. You don’t have to pay taxes on your foreign earnings.

There’s a Non-habitual Residency scheme in Portugal which is a tax policy aimed to help foreigners become tax residents in Portugal. it is one of the most appealing tax schemes in the European Union.

Now, how do you decide which program to apply to? There are definitely many similarities between Greece and Portugal’s Golden Visa in terms of application time, passport ranking, minimum investment required, and family eligibility.

It is important to keep in mind though, that Greece applies more economic restrictions to its foreign residents than Portugal. While Portugal Golden Visa holders can work without restrictions in Portugal, this is not the case in Greece, where you’re able to live but not work (unless you create your own business).

In terms of taxes, Greece imposes an income tax rate that starts at 22% to all its residents, while Portugal offers attractive tax incentices for its foreign residents under the NHR tax regime – so, if your main goal is to reduce your taxation then Greece’s Golden Visa might not be the best option to you. Real estate can also prove to be more costly in Greece than in Portugal, as property taxes are high in Greece.

A major plus for the Portuguese program is the ability to apply for a Portuguese passport five years prior to obtaining residency, contrary to the seven years needed for acquiring a Greek passport.

Greece offered the cheapest investment option a month ago with no residency requirements. On September 20th, the Greek government announced the minimum investment increase from €250,000 to €500,000.

Portugal has been recognized as one of the best countries to live in for expats. With more attractive and still affordable investment options available in Europe.

Portugal offers you stability, quality of life and more opportunities as a foreigner.

We specialize in assistance with residency and property investment in Portugal. Contact us to schedule a free call or send us an email to know more about the program.

FAQ - Greece vs Portugal Golden Visa

Does the investor have to pay taxes in Portugal on his/her worldwide income?

No. If the investor doesn’t spend 183 days or more in Portugal within a year, the investor is not a domicile. In that case, the investor doesn’t pay taxes in Portugal on the worldwide income, apart from that in Portugal.

Can I obtain an EU passport by applying to the Greece or Portugal Golden Visa program?

Yes, you can obtain an EU passport by applying for the Greece or Portugal Golden Visa program. The main difference is that you’ll be able to acquire a Portuguese passport after five years of residency, while it’ll take seven years to obtain a Greek passport.

Which Golden Visa program is the best? Comparison: Portugal vs Greece

It depends. It depends on the criteria of the investor, and there are many variables that go into answering that question. Nevertheless, we recommend applying for the Portugal Golden Visa as it has more investment options, offers great tax benefits to foreign residents, gives its holders the ability to work in Portugal, and ultimately is the fastest route to acquiring EU citizenship.

Americans Moving to Portugal: What you Should Know

Americans are moving to Portugal, be sure to read this article on the benefits of living in Portugal and how you can get your golden visa.

According to the US State Department, about 10 million Americans left the country temporarily or permanently in 2020. That’s more than twice the number of people who moved overseas two years ago.

Life in Portugal

The idea of moving to Portugal may seem daunting to you. And you probably are thinking, what’s life like in Portugal anyways?

The minute you set foot in Portugal, you can see why it’s so popular among expats.

Who doesn’t love the mild climate, wide beaches, golf courses, and natural beauty throughout the country? Its cities and towns look like fairytale-like villages, timeless cities with rich history and culture.

And, of course, the genuinely friendly spirit of the Portuguese makes it such a natural choice for anyone moving to Portugal.

Americans moving to Portugal have many advantages: a warm climate, stunning landscapes, the ocean on your doorstep, and a relatively low cost of living.

The country has a low crime rate, good education and healthcare, and there are significant tax advantages for residents.

Although the Portuguese generally speak good English, it is worth knowing some basics if you are committed to spending more time in the country.

How to move to Portugal From the USA

You should know certain things about living in Portugal as an American. To stay and live in the country, you’ll need to have a Portuguese resident permit.

This can be obtained if you work in the country, enroll in a long-term course of studies, marry a Portuguese citizen or invest in Portugal’s economy via the Portugal Golden Visa Program.

We’ll give you all the information about this program, the visa process, and the best investment option.

The Portugal Visa Process

You’ll need a visa to establish your residence as an American citizen. Some of the best common visa options include:

Golden Visa
D7 Visa
Schengen Visa (these are short-term, tourist visas required from some countries)

At Golden Port Visa, we specialize in the Portugal Golden Visa, a residency-by-investment scheme via Golden Visa open to non-EU nationals.

Introduced in 2012, the program offers different investment routes to investors including:

Purchase residential real estate in designated interior areas of Portugal worth at least €500,000 or €350,000. If you invest in a rehabilitation project and the project is based in a low-density area, then a 20% discount will apply to your investment.
Buy commercial real estate anywhere in the country worth at least €500,000 or €350,000. If you invest in a rehabilitation project is located in a low-density area, you’ll get a 20% discount.
Make a capital transfer of at least €1.5 million.
Make a contribution to scientific or technological research worth at least €500,000.
Support the arts or reconstruction of national heritage with a donation of at least €250,000.
Company incorporation and creating ten jobs, amounting to a minimum value of €500,000.

Benefits of the Portugal Golden Visa

The Portugal Golden Visa is granted based on an investment in Portugal. The residency by real estate investment has been popular with investors who wish to Buy Property in Portugal in 2022 – the program’s benefits include:

The right to family reunification
Visa-free travel through the Schengen Area
Permission to live, work and study in Portugal, as long as you spend at least one week in-country during the first year and two weeks in the following years.
After five years, you have the right to apply for permanent residence and citizenship.

Timeline Application Process

The time it takes to process and issue new GV applications will depend on how busy the immigration offices are.

Though you could expect a backlog of between 4 to 12 months, if you plan to apply for the Portugal Golden Visa – we advise starting now.

This is the application process in an overview:

Portugal golden visa timeline

Month 1-3

Application starts here

Get a NIF number,open a bank account € make your investment

Month 10th

Get your golden visa

You and your family get a two years valid care after submitting your fingerprints

Year 2

Renew your residence permit

In these two years,you must have spent 14 days in portugal to renew your card

Year 4

2nd renew or residence permit

With each renewal your residence permit will be extended for anothwer 2 years

Year 5

Apply for citizenship

At the end of the fifth year,you can apply for Portuguese citizenship or permanent residency

How to find the right property in Portugal

Going alone can be hard, especially if you don’t speak the language and you don’t have a trusted partner in Portugal.

Relocating is not an easy DIY project to go through. At Golden Port Visa, we assist you with all the legal paperwork, looking for your ideal property, and most importantly, we help you beat the local bureaucracy.

Learn more about the entire property-buying process in Portugal in our article, buying properties in Portugal.

Education in Portugal

Portugal’s population is well educated, and one in three Portuguese people speaks English. The number is higher among younger generations, especially those under 25, because English is widely taught in both public and private schools in Portugal.

As mentioned earlier, the GV applications might get delayed due to the high demand. We recommend planning your application since you might want to arrive in Portugal before September, when classes start in the middle of this month.

How can Golden Port Visa help you?

You’re about to embark on the most exciting journey – moving to Portugal! Golden Port Visa is here to assist you through the entire process. We are more than an immigration consultancy – we are your trusted Portuguese partner that will help you achieve your relocation goal.

We specialize in assistance with residency and property investment in Portugal. Contact us to schedule a free call or send us an email to know more about the program.

FAQ about Americans moving to Portugal

What is the Portugal Golden Visa?

The Golden Visa Program (GV) is a residency by investment program created by the Portuguese government in October 2012 that grants you a residence permit to live and work in Portugal and circulate freely in 26 European Countries (Schengen Area countries) and the Portuguese Passport (if after the initial 5 years of the investment, you choose to apply for citizenship) allows you to travel to 188 countries without the need for a visa.

Is healthcare in Portugal free?

Public healthcare is free for those under the age of 18 and over the age of 65. For other ages, it’s not entirely free, but it’s relatively cheap.

Is an American driver’s license valid in Portugal?

Yes, you can use a car in Portugal with your American driver’s license.

Is Portugal a safe country?

Yes, it is. Portugal is one of the safest countries in the world. It is always in the Top 10 list of the Annual Global Peace Index released by the Institute for Economics and Peace.

Capital Gains Tax Portugal

Portugal is the ideal country to buy a property or invest in the real estate market, with attractive returns on investments and many desirable locations to choose from.

Many investors have opted to buy property in Portugal, given that it is affordable compared with neighboring countries.

When it comes to taxation in Portugal, it can initially seem a little complicated, particularly with capital gains tax.

If you live in Portugal and own Portuguese property or other assets, you may face capital gains tax in Portugal, depending on your Portugal residency status.

However, taxation in Portugal, unlike in other countries, the capital gains tax in Portugal only applies to gains made on real estate and investments. Therefore, personal items are not subject to tax, and inheritances are only subject to a limited form of stamp duty.

This article focuses on the capital gains tax, which is important to know when buying and selling property in Portugal.

Exposure to capital gains tax will depend on your Portugal tax residency status, how you own the assets, and, if it applies to owning property, whether it is your primary residence.

Foreigners will also be able to have significant tax advantages in Portugal under the Non-habitual residence(NHR) scheme. You can learn more about Portugal’s Non-Habitual Residence here.

What is Capital Gains tax?

Capital gains are the profit you generate when selling a property. The owner of the property will need to disclose the tax return for the year in which the house was purchased and the respective that was paid when acquiring the property.

If works or maintenance were carried out on the property, these should be declared – for example, installing a new heating system.

You will need to show the invoices and the amounts that were paid. These will be carried out in the capital gains assessment.

If you are looking to reinvest your total selling price into a new property, then the potential capital gain may not be subject to tax.

This is only applicable if the house you sell is your permanent address and corresponds with your tax address.

An important consideration is the time period. You must purchase a new house and reinvest the total selling price 24 months before such a sale or 36 months after the sale.

If this is the case, you need to inform the Portuguese Tax Authorities you want to reinvest in the Portuguese property market.

Capital gains tax for non-Portuguese residents

If you are a non-Portuguese resident, the full capital gain from selling a property is taxable at a flat rate of 28%.

If you are an EU resident, you can choose to be taxed as a Portuguese resident instead of at the sale income tax rates. Nonetheless, you will need to declare your worldwide income to calculate the correct and relevant tax rate on the gain.

Portugal Golden Visa Specialists

+351 926 293 220‬

+351 926 293 220‬

Uncategorized

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Comporta

Vila Nova de Milfontes

Lagos

What you need to know about Portugal property rental income

Breaking down the Portugal property rental income:

What taxes should I be aware of?

Rental income tax in Portugal

Non-Habitual Tax Residents Portugal

Spain vs Portugal golden visa

Spain vs Portugal golden visa overview:

What are these Golden Visa Programs?

Portugal = easy and affordable investment options.

Spain = fastest way to get a temporary residency permit.

What benefits will you get as a European resident?

Which Golden Visa should I pick?

Pathway to EU citizenship

Citizenship requirements for Portugal

Citizenship requirements for Spain

Family eligibility

Portugal and Spain’s golden visa taxation

Portugal Golden Visa Real Estate Investment

Eligible Real estate investment options

Residential real estate

Commercial real estate

Portugal Low-density areas: Golden Visa eligible areas

Alentejo

Évora

Comporta

Everything you need to know about the ETIAS Visa Waiver

Table of Contents

What is ETIAS Visa Waiver?

When does the ETIAS begin?

How do I get an ETIAS Visa Waiver?

How long is the ETIAS valid?

How much does ETIAS Visa cost?

Do UK citizens need a visa for Europe?

Do Americans need a ETIAS Visa Waiver?

Portugal Golden Visa Investment Options: Which one to choose?

Portugal Golden Visa Investment Properties: The most popular option

Renovation of property or properties located in low-density areas

€500,000 Investment in a Fund in Portugal: High Risk, High Reward

Capital transfer: Convenient option

Creation of 10 jobs in Portugal: The cheapest option

Donation of €250,000 to Arts/ National Heritage/ Culture

€500,000 Investment in Scientific and Technological Research: The Ambiguous Option

FAQ - Portugal Golden Visa Investment Options

Greece vs Portugal Golden Visa Program

Greece vs Portugal golden visa:

Overview of Greece VS Portugal Golden Visa

Portugal Golden Visa Program = Easy and fast tracked path to EU citizenship

Greece Golden Visa = Cheap way to EU citizenship

Which Golden Visa Program should I pick?

Pathway to European Citizenship

Golden Visa Europe Programs’ Taxation

FAQ - Greece vs Portugal Golden Visa

Americans Moving to Portugal: What you Should Know

Americans moving to Portugal overview:

Life in Portugal

How to move to Portugal From the USA

The Portugal Visa Process

Benefits of the Portugal Golden Visa

Timeline Application Process

Portugal golden visa timeline

Month 1-3

Application starts here

Month 10th

Get your golden visa

Year 2

Renew your residence permit

Year 4

2nd renew or residence permit

Year 5

Apply for citizenship

How to find the right property in Portugal

Education in Portugal