The Portuguese Golden Residence Permit
The Golden Visa Programme in Portugal was launched in 2012 and, since then, there have been granted 7208 residence permits for pursuing investment activities, with 2014 being the year with most permits issued (1526). 6804 (six thousand eight hundred and four) of these residence permits were through the acquisition of Real Estate. There are several ways to obtain the Portuguese visa, but the most popular seems to be the investment of 500,000€ into a freehold property, there is a reduced version of this at 350,000€, however, there are certain criteria that must be met to validate that lower investment.
Portugal is an attractive country
With Portugal affirming itself in recent years as an increasingly cosmopolitan, competitive, innovative and creative country, people from all over the world are drawn to this wonderful country’s quality of life and safety. Portugal is the fourth most peaceful country in the world and was recently elected the best country for expats to live in. Blessed with warm weather and long summers, the people who live here have 903km of coastline to explore and fall in love with.
Portugal is a member of several global and European organizations, communities, treaties, as well as one of the most globalized and peaceful nations in the world, which consolidates its position in the competitive and innovative nation's market and makes it a very sought-after destination by investors from the entire world. Innovation and creativity are part of the country’s identity. The giant tech Google considers Portugal to be a leading country in Europe for the digital app economy. It’s the 8th country in the EU-28 with the highest number of high-speed broadband subscriptions per capita, a leading country in the execution of operations through the ATM network and Via Verde, the electronic toll network, is a Portuguese invention and groundbreaking on a global level in toll management.
The preferred investment is Real Estate
Since 2012, there have been issued 12.254 residence permits to family members of the investors. Data collected until February 2019 shows that real estate is the preferred investment for the visa, with a total investment of 3.982.571.724,45€ in real estate property. The visa allows you and your dependent family (Children & Parents) to gain a residency permit in Portugal for 12 months and is then renewed on a 2-yearly cycle, to qualify for renewal you simply have to spend a minimum of 7 days in Portugal per year. This visa will allow you to travel freely across Europe within the Schengen Zone. Citizens from China, Brazil, Turkey, South Africa and Russia have been the biggest investors in the Portuguese Golden Residence Permit program.
The most attractive part of the visa is that after 5 years of title you can then apply for permanent residency within Portugal and after those 5 years you can apply for citizenship, the basic requirements to qualify is the initial investment, a clean criminal record and the ability to spend a minimum of 7 days in Portugal each year, without the need to reside in Portugal this visa has become the most attractive and popular option across Europe.
Once residency has been granted you will have the right to live, work and study anywhere within the European Union, once citizenship has been granted you will become a European citizen and will have the same rights of anyone in Portugal.
If you need more information on the Portuguese Golden Visa, feel free to contact our experts at Portugal Homes for all you need to know about granting the residence permit through investment.
Sources: SEF ARI, SEF
About Portugal Homes
PortugalHomes.com specializes in selling Holiday Homes and Investment Properties. We help buyers find the right property overseas whether it be for Golden Visa, NHR, Investment or simply a place in the sun, our properties are selected with great thought in mind to give our clients the best opportunities, we offer the complete service from Introducing them to Legal Representatives, Currency Exchange, Mortgage Advisors, Property Management, Rental and Furniture Packages along with making sure all our staff are trained to fully understand the buying process and taxes for every scenario, we provide the complete service to anyone looking to buy a new or resale property overseas for holiday use or as a short or long-term investment.
To find out more, please contact us:
- Phone: +351 213 471 603
- E-Mail: info@portugalhomes.com
