Portugal Residency By Investment: What Do I Need To Know?
Growth is something that all of us seek, to improve our standard of living and create more opportunities for our families. However, with growth comes change, and sometimes it is not always beneficial to everyone.
Are you looking to invest in Portugal? If so, you’re in the right place.
Whether you’re looking to purchase a property or retire in Portugal, let’s look at how Portugal residency by investment works in this unique country.
Portugal Golden Visa Program
The Portugal Golden Visa program, which was established in October 2012, encourages international investors from non-European Union nations to get fully-valid resident permits in Portugal for themselves and their families.
Participants in the program must complete all background checks and make investments in local real estate. The right to live, work, travel, and study in Portugal as well as visa-free entry to the Schengen Areas will be granted to successful candidates six months after receiving their residency permit.
Access to Portugal’s healthcare system and consumer rights are also available. Those who have lived in Portugal for five years are entitled to petition for Portuguese citizenship.
What Makes Portugal Residency By Investment So Popular?
The investor and their family receive benefits under the Portuguese Golden Visa. Here are a few of them:
- They can travel without a visa within the Schengen Zone. With Portugal’s Golden Visa, you can freely enter and move across the area without worrying about obtaining a visa.
- One can launch a new business in Europe or expand an already established one thanks to Portugal’s Golden Visa. Portugal is an economically stable nation, therefore your company will move into the stage of ongoing development.
- Holders of the Golden Visa for Portugal are entitled to 10-year tax breaks. It is strongly advised to enrol in the Non-Habitual Resident (NHR) program, which was designed with this objective in mind.
- The Portugal Residency By Investment enables its holder to create an account with any (very secure) European bank with ease. Concerning the security of your deposits, you won’t need to.
- Only one week must be spent in Portugal each year for your Golden Visa to be renewed. You would need to have lived in the country for at least six months before you could apply for naturalization. When requesting a resident visa from Portugal through investment, this stipulation is absent.
- A Portuguese residency permit offers its possessor the exceptional opportunity to guarantee a bright future for their children. The Portuguese Golden Visa also serves as a ticket to the most esteemed universities in Europe.
- The ability of the investor and their family to become citizens in 5 years is one of the critical benefits of the Portuguese Golden Visa. It is the quickest period that a Golden Visa program offers.
The Cost Of Permanent Residency In Portugal
To be eligible for a Golden Visa, applicants must buy real estate in Portugal. One way to accomplish this is to buy one or more properties for a value of less than €500,000 or to rehabilitate a property that is older than 30 years for less than €350,000. Additionally, if the property is in a low-density region, a 20% discount is given, translating to €400,000 and €280,000, respectively.
Property transfer tax, annual property tax, additional municipal property tax, stamp duty, and family procedure analysis are additional costs in addition to the acquisition of real estate. Other ongoing expenses that come into play throughout a person’s stay in Portugal include the cost of fresh ARI permanent residency cards, which run €5,206.60 per family member.
These figures don’t include additional connected expenses like professional fees, official application forms, passport and citizenship certifications, courier fees, and other outlays.
You can expect a detailed quote from Inzeit Consultants when you choose us as your business consultant.
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You must work with a company authorized by the government to qualify for any Residency by Investment scheme. The Inzeit Business Consultants with decades of experience have assisted over 1,100 families in obtaining second citizenship.
We can answer any questions you have about Residency By Investment or the golden visa program or give you a free online consultation if you’re curious. We will be happy to help you secure a better, more affluent future for you and your family.
So, get in touch with the best business consultants to get settle down!