The Portuguese Golden Visa programme is a 'residency by investment' scheme designed for non-EU citizens and their families. It's been one of the most popular choices for relocation or having a second passport in Europe.
Portugal launched the programme in October 2012 with a view to attracting much-needed international capital into the country following the 2008 financial crisis. The programme proved to be a great success, raising 5.5 billion Euros in a little over eight years.
Portugal offers a dreamy landscape, a wide coastline, a climate full of sunshine, hospitable people, and delicious cuisine. Better yet, it provides this high quality of life at a very affordable cost of living. These features make Portugal a very attractive destination for international investors to invest in and obtain the right to live, work, and study in the country.
Furthermore, the Portuguese Golden Visa programme provides the opportunity to become a permanent resident or a citizen in Portugal in only five years.
FOR THE FAMILY
The Golden Visa does not only extend to you as the investor but also to your direct family members.
According to InterNations, Portugal frequently tops the Family Life Index. An impressive 94% of those who move to Portugal are satisfied with their family lifestyle compared to the global average of 79%. When it comes to educational standards, over four in five parents (81%) say that the quality of education in Portugal is generally high.
Golden Visa applicants have the right to live and work in Portugal, as well as visa-free access to the rest of the Schengen zone.
After holding a Golden Visa for five years, residents can then apply for citizenship, allowing them to move, live, and work in any other of the 26 EU member states and visit 97 countries around the world visa-free (compared to 60 for Russian passport holders). GV holders in Portugal are free to enjoy Europe's golden standards, be it in terms of quality goods & services, judicial systems, social policies, or sustainable development.
FOR THE NATURAL
WAY OF LIFE
Statistics from 2016 - 2020 have shown that Portugal remains a top destination for families seeking a safe haven. Why?
Partly thanks to its Mediterranean climate with an average of 2.799 sunshine hours a year - more than we find in Athens or Nice. What's more, Portugal boasts 934km of breathtaking Atlantic coastline, sub- tropical archipelagos, and mountainous regions bursting with biodiversity.
Portugal is ranked as the 12th best place to live in the world
Standing sentinel on the west of the Iberian Peninsula with spectacular sun-soaked beaches lapped by the azure waves of the Atlantic, Portugal holds a lot of attraction for expats looking to slot into the slow rhythms, great cuisine and gorgeous surroundings of this Western European gem.
Bordered by Spain on one side and the Atlantic Ocean on the other, Portugal’s beauty abounds with long stretches of pearly white beaches and arching mountains. A population of just over 10 million leaves plenty of room for expats to explore its many architectural treasures, historical sites, phenomenal food culture and natural scenery without having to fight off large crowds. Home to some of history’s greatest mappers and explorers, Portugal itself holds plenty of treasures for inquisitive travellers and expats.
The country does present plenty of work opportunities, but most expats arrive looking for a better quality of life rather than for financial and professional reasons. Ultimately, sun worshippers seeking a less frenetic pace of life, a relatively low cost of living and great food, will fall in love with Portugal.
The 3rd safest country in the world
Portugal is in the top 3 of the 2020 Global Peace Index - beaten only by Iceland and New Zealand, ranked far higher than its neighbouring countries: Spain and France.
Forbes Magazine ranked the best countries to live after the outbreak of COVID-19 – and placed Portugal the third safest country in the world, where English is widely spoken. The magazine highlights the affordable cost of living, quality health care and investment in good infrastructures, which place the country in a good position in this ranking. The magazine also mentioned sunshine, which is present all year round, and the wide beaches along the coast, which are clean, in a country where pollution rates are low and streets have no litter.
HOW TO OBTAIN GOLDEN VISA THROUGH PROPERTY?
By the acquisition of one or more properties with a total value equal to or exceeding 500.000 €, or of one or more properties over 30 years old or located in urban renewal areas, with rehabilitation works, in accordance with the corresponding legislation, totalling an amount equal to or greater than 350.000 €.
The government establishes the possibility of reducing the amounts in question by 20% if the properties in question are located in areas of low population density. According to current law, it is considered a territory of low population density if it has less than 100 inhabitants per km2 or if the GDP of that region is below 75% of the national average.
This is the most common way to obtain Golden Visa and accounts for 90% of all GVs issued in Portugal.
It is important to highlight that investors can apply for a Golden Visa through the acquisition of one or more properties, provided that the sum of the amounts is equal to or greater than 500,000€.
In low-density area the amount can drop to 400,000€. There is no requirement to live in the property - it may be rented for residential or commercial purposes.
If the property is old (over 30 years) or is located in an urban rehabilitation area, the minimum investment amount will decrease to 350,000€.
To apply for a Golden Visa in this category, it's mandatory to carry out the necessary restoration work at the acquired property, either individually or with the help of a construction firm.
In low-density areas, this threshold can drop to 280,000€.
After collecting the necessary documentation, your lawyer submits your Golden Visa application to the Portuguese authorities online.
The residence permit is granted for a period of one year, renewable for two successive periods of two years, and requires the maintenance of the investment for a minimum period of five years and the presence in Portuguese territory for 7 days (consecutive or not) in the first year and 14 days (consecutive or not) in the subsequent periods of two years.