The Portugal golden visa program has been running since 2012 and is set to expand its benefits further by 2023.
The Portuguese residency program has become increasingly popular over the past few years, as it offers a permanent residence permit in Portugal to non-EU citizens in exchange for investment into the country.
This article will provide an overview of the Portugal Golden Visa program, including what makes it so attractive, the requirements to qualify, and what you’ll need to do to apply for residency in 2023.
Benefits of Portugal Golden Visa
The Portuguese Government has created this investment program to attract foreign investors, allowing them to gain permanent residency after meeting the following criteria:
If you’re a UK citizen, the Portugal golden visa helps you beat Brexit
Dual citizenship (not every EU country allows it, but Portugal does)
Residency in a safe, stable, and politically neutral country
Travel visa-free across the Schengen area
A fast-tracked pathway to EU citizenship
Travel visa-free to 186 countries
Flexible minimum stay
Free healthcare
Tax benefits
2023 Expectations for the golden visa
Portugal’s golden visa program has become a hot topic in recent years, and the 2023 deadline will only add to its popularity.
The suspension announcement has only increased the popularity of the Portugal golden visa.
But it is about to get much stricter with new rules for 2023.
Portugal’s Immigration and borders service has already responded to the backlog problem by adding new staff in all their branches, as it’s expected a new influx of applications for 2023.
The delays don’t affect your ability to complete the visa application, but they will increase the overall time it takes to gain permanent residency.
Changes to the Program in 2022
The new rules of the Portugal residency by investment or golden visa program limit locations where you can invest in a property.
The minimum investment remains the same, while there are geographical restrictions on the qualifying areas.
You can no longer purchase a property in major cities such as Lisbon or Porto or coastal towns of the mainland.
Only property investments inland and low-density areas are eligible. But if you want to invest in a property in Portugal’s major cities, the only way to unlock this restriction is by investing in commercial properties, for example, hotels.
Requirements for Applying
The requirements of the Portugal golden visa are straightforward, and all the investment options also have a standard list of documents. You must meet the following criteria:
You must be 18 years old or above
You are not an EU/EEA/Swiss citizen
You don’t have criminal records in your home country and Portugal
You invest in Portugal
Why Portugal?
Are you looking for a great place to invest? Portugal is an ideal location for many reasons.
From its low taxes and generous incentives to its robust economy, stunning landscape, and warm climate, there are many benefits of investing in Portugal.
Portugal boasts one of the lowest corporate tax rates in Europe, making it an attractive option for businesses who want to take advantage of the various tax breaks and incentives available.
The country also offers investors a strong economy that has been growing steadily over the past few years due to government-led reforms. This gives investors confidence that their investments will be secure in the long term.
And let’s not forget Portugal’s breathtaking scenery – from miles of sandy beaches along the coast to picturesque towns and villages nestled in rolling hillsides, Portugal is a stunningly beautiful country with plenty of natural attractions.
If you want to retire early, Portugal is the best choice. Considering factors like healthcare costs, housing expenses, and lifestyle preferences.
In short, Portugal’s golden visa program is an incredible opportunity for families who are looking to relocate or find a safe haven.
Not only does the program offer exciting opportunities such as residency and tax benefits, but it also provides access to Portugal’s warm and inviting culture.
Furthermore, Portugal is one of the most stable countries in Europe, making it a great choice for families who want to feel secure.
The program’s cost is relatively low compared to other European programs, and the application process is straightforward.