Last updated on 12.08.2022
Portugal’s Golden Visa Program is the best choice for high-net-worth individuals who want to expand their business and enjoy the benefits of the sunniest country in Europe.
The Portugal Golden Visa main benefits are: the low entry investment amount and the choices available – especially in terms of high-quality real estate assets; the low costs, the processing time, and the possibility to obtain a European passport within 5 years.
By being a Portugal Golden Visa holder, you and your family will receive the right to live, work, and study in Portugal and freely travel throughout Portugal and European Union (Schengen Area).
Why is the Portugal Golden Visa so popular then?
Compared to other golden visa programs, Portugal’s golden visa is one of the most affordable and attractive because of its benefits. Realistic investment options, short stay requirements, and the quick path to becoming an EU citizen.
Portugal’s golden visa investment options begin at 280.000+ EUR. A significantly lower amount when compared to surrounding countries’ requirements. In Austria, you’ll be required to invest at least 2,000,000 EUR if you want to become an Austrian citizen and the minimum investment in Malta is 690,000 EUR.
And the option of residency by real estate investment is not common among other visa programs.
There are several ways of immigrating to Portugal. The golden visa is the fastest way to have a Portuguese permanent residence permit or citizenship.
While other programs will require 8 to 10 years to have a passport, the Portguese Golden Visa requires a five-year wait to apply for citizenship by filling out simple legal formalities.
You can secure dual citizenship, there are no additional requirements for this, but we recommend checking that dual citizenship is allowed in your country. In reality, however, few countries check that you have actually let go of your other citizenships.
One of the benefits of living in Portugal is the proximity to many prosperous countries. Business travel is simple compared to living on another continent. You can check the member countries of the European Union here.
Thanks to the multiple investments made in Portugal, the local economy is constantly growing and is open to technological innovations – and the best place for remote working.
Portugal is known for its beauty, and the safety ranking enhances all benefits for tourists, investors, and new residents. A sought-after country for its landscape, location, and affordable properties.
Visa-free travel within the Schengen region for 90 days every 180 days. Sounds good, right?
If you opt for the Portuguese citizenship, you will receive a Portuguese passport and can travel without a visa to over 100 countries – including the USA, Canada, and Australia. You and your spouse can work freely across the Schengen region without travel restrictions. Your family will also enjoy these benefits.
One of the most attractive benefits for business people is the generous tax benefits. The Non-Habitual Resident (NHR) program provides tax advantages to those moving to Portugal.
Some key tax advantages of the program are:
Exemption from paying personal taxes for ten years.
Almost all revenues acquired outside the country are non-taxable.
20% flat tax for some Portuguese-sourced income within the first ten years.
No wealth tax.
No inheritance taxes.
No additional fees for transfers.
Qualifying types of tax-free income in Portugal include:
Real estate income.
Professional profits are derived from eligible occupations (business and self-employment).
Public and local schools are available and free. The primary language spoken is Portuguese. There are a lot of opportunities for learning the language quickly. Give your children a chance to dive into Portuguese culture and create friendships with the locals.
If you spend more than half of the year in the country, you and your family will qualify for coverage through the country’s healthcare system. But if you stay less than half of the year in the country, you are considered a temporary resident.
Therefore, you do not yet qualify for resident/citizen insurance. But, the cost of private insurance is relatively low though, ranging from 150 to 1000 EUR per year depending on the age of the applicants.
One factor when looking for a new country to acquire citizenship is safety, and according to the 2020 Global Peace Index, Portugal has ranked the third safest country in the world, only falling to Iceland and New Zealand—calculated based on factors such as militarization, ecological threats, and political stability.
Whether you are applying alone or with your family, know this is a valuable key benefit of the Portugal Golden Visa.
To top it all off, the Portuguese people are polite, friendly, and welcoming to any visitor, and we don’t say this because we are Portuguese, but because it’s the truth.