Golden Visa
Initiated in 2012, the Portuguese Government's Golden Visa Scheme has reportedly seen nearly 5 billion euros already invested into the country and over 8,000 third country nationals granted temporary residence permits (14,000 people if you take into consideration their direct dependents).
It isn't hard to see why it's been so powerful as Portugal, with its warm climate, gorgeous beaches, fine cuisine and laid-back attitude, remains an extremely attractive proposition for those looking to live, retire or invest abroad.
As well as being able to go through the Portuguese lifestyle on your own, the Golden Visa strategy will also offer you and your family with the opportunity to explore the rest of Europe and discover all that it offers.
Those registered in the strategy will benefit in the following:
- No visa required to enter Portugal
- Visa exemption for travelling through Europe (within Schengen Area)
- You can live and work in Portugal
- Dependent family members may also obtain temporary Portuguese residency
- Low minimum stay periods (7 or more days in first year and 14 or more days in subsequent years)
- After 5 years you will have the possibility of obtaining permanent residency or citizenship and a Portuguese passport
In order to be eligible for the scheme you must conduct an investment activity either as an individual or a company set up in Portugal or another EU Member State, meet the time requirements above and do one of the following:
- Purchase real estate property with a value of at least 500,000$ (five hundred thousand euros) or 400,000$ (four hundred thousand euros) for the Algarve as it is classed as a low-density area
- Purchase property property to refurbish that has been constructed over 30 years ago or situated in an urban regeneration area and with a value of at least 350,000$ (three hundred and fifty thousand euros) or 280,000$ (two hundred and eighty thousand euros) for the Algarve
- Create a capital transfer of at least 1,000,000$ (one million euros)
- Create at least 10 job positions
- Create a capital transfer of 350,000$ (three hundred and fifty thousand euros) for investing in research activities conducted by public or private scientific research institutions involved in the national scientific or technological system
- Create a capital transfer of 250,000$ (two hundred and fifty thousand euros) for investing in artistic outcome or encouraging the arts, for reconstruction or refurbishment of their national heritage, through the local and central government, public associations, public corporate sector, public foundations, private foundations of public attention, networked local authorities, local corporate sector organizations, local associations and public cultural associations, pursuing activities of artistic output, and reconstruction or maintenance of the national heritage
- Make a capital transfer of at least 500,000$ (five hundred thousand euros), for purchasing shares in investment funds or in venture capital geared to capitalize small and medium businesses which, in turn, must present a viable capitalisation Program
To find out more on the best way to start Portugal homes the process, please get in touch with one of our specialists who can help advise you through from beginning to end.