Portugal Golden Visa: The Definitive Guide 2023
Portugal’s Golden Visa initiative, launched in October 2012, has become a leading choice for residency through investment, attracting over 12,000 applicants.
In the recent update of September 2023, significant changes are on the horizon. While the new law won’t have retroactive effects, it will soon exclude real estate purchases and related funds as qualifying investments. However, specific Portuguese funds will remain eligible. Legal experts advise swift action to secure your place in the program.
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What Is the Portugal Golden Visa?
The Portugal Golden Visa program, officially known as the residence permit for investment activity (ARI), stands as a residency by-investment initiative tailored for non-EU citizens.
Launched in October 2012, this program aimed to attract international capital into Portugal, addressing a crucial need following the 2008 economic crisis. It has proven highly successful, raising over €6 billion since its inception.
Portugal offers an idyllic landscape, expansive coastlines, a sun-soaked climate, welcoming locals, and delectable cuisine. What makes it even more appealing is its high quality of life at an affordable cost. These aspects draw international investors, granting them the opportunity to live, work, and study in the country.
Moreover, the Portugal Golden Visa program paves the way for permanent residency or citizenship within just five years.
Why Choose Portugal’s Golden Visa?
- Affordable Investment Options: Select from a range of affordable investment options for your residence permit.
- Flexible Stay Requirements: Spend only seven days per year in Portugal to maintain your residence permit.
- Schengen Zone Access: Enjoy visa-free travel within the Schengen states.
- Fast-track Citizenship: Become a Portuguese citizen in just five years, one of the quickest paths in Europe.
- Global Mobility: Gain visa-free access to 188 countries with a Portuguese passport.
Living, Working, and Studying in Portugal:
- Live, work, and study in Portugal with your Golden Visa.
- Access public services, including healthcare and education.
- Work permits allow you to start your own business in Portugal.
- Extend the Golden Visa to your family, including your spouse, children, and dependent parents.
Citizenship and Passport:
- Apply for citizenship after holding the Golden Visa for five years.
- No outstanding tax payments and clean criminal records are prerequisites.
- Pass a basic language test in Portuguese.
Tax Benefits and Overall Advantages:
- Portugal Golden Visa holders are tax-responsible only if they spend over 183 days per year in Portugal.
- Benefit from the non-habitual residency (NHR) program, offering income tax exemptions for the first 10 years.
- Available for non-EU/EEA/Swiss nationals.
- Minimum age requirement: 18 years old.
- Clean criminal records are mandatory.
- Investment funds must originate from outside Portugal.
- US citizens can apply for the Portuguese Golden Visa.
- Explore real estate advantages and tax incentives for American investors.
For personalized assistance and guidance on Portugal’s Golden Visa Program, contact us today. Let us help you make Portugal your new home!
British citizens, both within the UK and globally, are strategizing in light of Brexit’s impact on their travel freedom. With UK passports losing their Schengen Area privileges in 2021, UK residents are turning to Portugal for its attractive perks: unrestricted travel across Europe, an appealing lifestyle, and the opportunity for European citizenship through investment.
Starting from January 1st, 2021, UK citizens gained eligibility for Portugal’s Golden Visa program, granting them the right to travel freely within the Schengen Area.
Portugal Golden Visa Investment Choices:
What Investments Qualify for the Golden Visa? The Portugal Golden Visa program provides diverse investment options, including:
- Real Estate Acquisition (Soon to Stop)
- Purchase real estate worth over €500,000 in Portugal.
- In low-density areas, the minimum drops to €400,000.
- Renovate properties over 30 years old in urban rehab zones for €350,000 (€280,000 in low-density areas). Multiple properties can fulfill the minimum requirement.
- Fund Subscription (Soon to Stop for Real Estate Funds)
- Invest a minimum of €500,000 in a qualifying Portuguese fund.
- Capital Transfer (Soon to Stop)
- Transfer at least €1.5 million to Portugal.
- Establish ten new full-time jobs in a self-owned Portuguese business.
- In low-density areas, create eight jobs in a self-owned business.
- Invest €500,000 in an existing Portuguese business, creating a minimum of five new full-time jobs for three years.
- Contribute €250,000 to preserve national heritage in Portugal.
- Invest €500,000 in research and development activities in Portugal.
Note: Residential properties in Lisbon, Porto, and coastal towns don’t qualify, but commercial properties in these areas are eligible.
You cannot use a loan from a Portuguese institution for the minimum investment. However, you can secure the amount as a loan from a non-Portuguese financial entity and transfer it. If your investment surpasses the minimum, you can take a loan from a Portuguese bank for the exceeding amount.
Real Estate vs. Funds:
Selecting Your Path for Portugal Golden Visa Investment Deciding between real estate and funds for your Golden Visa investment can be challenging.
Golden Visa Portugal Criteria Minimum Residence Obligation
The Portugal Golden Visa program boasts a minimal residency demand. Golden Visa residents are expected to spend an average of seven days annually within the country.
|Validity Period||Stay Requirement|
|Initial GV Residence Permit||Two (2) years||Fourteen (14) days within two years|
|Subsequent GV Residence Permits||Two (2) years||Fourteen (14) days within two years|