Introduction
The Portuguese Golden Visa is a residency program that allows non-EU citizens to live and work in Portugal. In return, these individuals must make a qualifying investment in the country.
The program was launched in 2012 and has since been extremely popular, with over 8,000 applications approved. The majority of applicants come from China, Brazil, and Russia.
There are many advantages to the Portuguese Golden Visa program, but there are also some disadvantages that are often not discussed. In this article, we will talk about 5 advantages of the Portuguese Golden Visa that no one will ever tell you!
What is a Portuguese Golden Visa?
A Portuguese Golden Visa is a residence permit that allows non-EU citizens to live and work in Portugal. The permit is granted in return for qualifying investment in the country, such as the purchase of real estate or the creation of jobs for Portuguese citizens. The program was launched in 2012 and is available to citizens of any nationality.
The Advantages of a Portuguese Golden Visa
The advantages of the Portuguese Golden Visa include the ability to live and work in Portugal, visa-free travel throughout the Schengen Area, and the ability to become a Portuguese citizen after five years. Additionally, the program offers tax incentives, including no tax on income generated outside of Portugal, a discounted tax rate of 20% on income generated within Portugal, and no taxes on savings or investments made within the country. Furthermore, the Portuguese Golden Visa makes it easier to open a business in Portugal. The permit is also renewable every two years, and family members can also be added to the permit. Finally, the visa also grants access to Portugal’s public healthcare system, allowing non-EU residents to receive quality medical care.
Who is eligible for Portuguese Golden Visa
The Portuguese Golden Visa program offers a unique opportunity for foreign investors to become citizens of Portugal. To be eligible, applicants must meet certain criteria and make investments in Portuguese real estate or businesses. In particular, they must have either purchased residential property valued at 500,000. EURO or more, or made an investment of 350,000. EURO into a new business venture located in Portugal. Additional requirements may also apply depending on the type of investment made.
Fulfilling these conditions will give those who qualify access to all the benefits that come with being a citizen of Portugal, including the right to reside anywhere within the country, as well as free travel throughout Europe’s Schengen Area. This includes visa-free entry into many European countries. Additionally, individuals can enjoy lower tax rates compared to other European nations.
Those interested in applying for the Portuguese Golden Visa must provide documentation demonstrating their financial solvency, such as proof of income or assets held outside of Portugal. Furthermore, applicants are expected to demonstrate language proficiency and pass background checks conducted by law enforcement agencies. Ultimately, meeting these prerequisites is necessary to acquire this visa.
Individuals wanting to take advantage of this scheme should ensure they have the necessary funds and qualifications before submitting their application. Doing so could potentially open up a plethora of opportunities for them in one of Europe’s most fascinating destinations – Portugal!
Why Get a Portuguese Golden Visa?
There are many reasons why people choose to invest in a Portugal Golden Visa. The main reason is that it allows them to gain a residence permit in Portugal, which is considered to be a safe, stable, and welcoming country. Additionally, Portugal offers excellent lifestyle opportunities, with its world-class beaches, vibrant cities, and great food and wine. The country is also popular amongst retirees, as it has a low cost of living and a warm climate. The Portuguese Golden Visa also offers excellent tax incentives, making it an attractive option for entrepreneurs and investors who want to benefit from the country’s advantageous tax regime. Furthermore, the visa also provides visa-free travel throughout the Schengen Area, which includes 26 countries. This makes it easier to travel within Europe without having to obtain separate visas.
How to Get a Portuguese Golden Visa
The process of obtaining a Portuguese Golden Visa is relatively straightforward. The first step is to make a qualifying investment in Portugal, such as the purchase of real estate or the setting up of a business. The second step is to submit an application for a residence permit, which is available online. Once the application is approved, the applicant must then travel to Portugal to collect their visa.
Conclusion
The Portuguese Golden Visa is a great option for non-EU citizens looking to live and work in Portugal. The visa allows you to live and work in the country, as well as travel visa-free throughout the Schengen Area. Additionally, the visa also offers excellent tax incentives and the ability to apply for Portuguese citizenship after five years. The process of obtaining a Portuguese Golden Visa is relatively straightforward, and it can be completed in a matter of months.
