Portugal’s Golden Visa program offers a fast track to EU citizenship for non-EU citizens who invest in the country. Launched in 2012, the program has proven to be popular with investors from all over the world, with over 6,000 applications approved to date. In this blog post, we’ll take a look at what the program entails and how you can apply for it.
What Is the Portugal Golden Visa?
Portugal Golden Visa is a residence by investment program that grants visa-free travel within the Schengen Area to non-EU citizens who make an eligible investment in Portugal. The program was launched in 2012 and has since been extremely popular, with over 6,000 applications approved as of 2019.
There are two main types of investment that qualify for the Golden Visa: investing in real estate (minimum €500,000) or setting up a business in Portugal (minimum €350,000). There are also a few other options available, such as investing in government bonds or making a financial contribution to a Portuguese research institution.
Background of Golden Visa Portugal
In 2012, Portuguese Golden Visa Residence Permit (ARI) program was established. It is a residence by investment initiative meant to attract non-EU/EEA nationals to invest in Portugal. It gives a rapid way to obtain a Portuguese residency permit.
What distinguishes the scheme from all other European Golden Visa programs is that it may progress to Portuguese citizenship in five (or, more realistically, six) years without requiring actual residency in Portugal.
The program had attracted 10,348 investors as of 2022. As a result, the country received almost €6 billion.
Golden Visa Portugal Requirements and Eligibility
To be able to qualify for a Portugal Golden Visa, you must first;
- You must be a non-EU, EEA, or Swiss citizen, and you must make an eligible investment in Portugal.
- You are over the age of 18. (for the main applicant)
- You have a perfect criminal record.
- Your cash will originate from somewhere other than Portugal.
Portugal Golden Visa Changes in 2022
In 2020, the Portuguese Parliament indicated that the Golden Visa program will be reformed. For a long time, the detail of the alterations and their timeframe remained obscure.
The specifics were officially announced in February 2021.
What Are the Golden Visa Changes in Portugal?
The program has undergone two notable changes.
The Real Estate Option Has Changed:
- Where you purchase your house in Portugal matters
- Only the Azores and Madeira Autonomous Regions, as well as the interior areas, are eligible.
- The program does not apply to residential property in Lisbon, Porto, or other seaside locations.
Increased Minimum Investment Amounts:
- The amount of capital transferred increased from €1 million to €1.5 million.
- The size of the Investment Fund increased from €350,000 to €500,000.
- The R&D budget increased from €350,000 to €500,000.
What Are the Benefits of the Portugal Golden Visa?
There are a number of benefits that come with Portuguese Golden Visa. Firstly, it allows visa-free travel within the Schengen Area for. It also gives holders the right to live, work, and study in Portugal. After 5 of Portugal residency by investment, the applicants eventually citizenship if they meet certain requirements.
Portugal Golden Visa program is an attractive option for non-EU citizens looking to obtain EU citizenship via investment. With a minimum investment of €500,000 in real estate or €350,000 in business, the program provides a fast track to residency and eventually citizenship for those who meet the requirements.
If you want to make a profitable investment in an EU country and get residency, consider investing in Portugal. Thanks to many benefits it offers, it’s emerging as an attractive destination.