Portugal Golden Visa
The unexpected shock of the pandemic that shook the lives of everyone across the globe led to different responses from different groups of people. One trend that has been on the rise is the surge in the applications for residency by investment. Millionaires capable of investing in other nations are looking for alternate residency so that they and their families have a safe and secured place to live during the crisis. One such residency program is the Portugal residency through investment.
In the first four months of 2021 itself, 770 applicants received their Golden visa for Portugal. Indians are among the top enquirers for this visa pathway. The reasons that Portugal Golden Residence Permit Program gained so much popularity are –
- It is a 5-year residency by investment program for individuals not residing in the European Union area
- The beneficiary can live, work and study in any part of Portugal and is free to travel anywhere across the Schengen area of Europe
- There are just seven days of residency required in Portugal in the first year and 14 days in the two subsequent years, which is counted towards citizenship after five years
- Low taxation system to save money while enjoying all the social benefits
- Provision to become a citizen after five years of residency along with family
- Excellent standard of living with good working and studying facilities in a peaceful and safe environment
To be eligible for the Portugal Golden Visa program, the applicants have multiple investment options as listed below –
- Minimum capital transfer of EUR 1 million amount into a Portuguese bank account or other approved investments
- Investment of EUR 350,000 in research activities (private or public) that are of national scientific or technological significance
- EUR 250,000 investment in art production or national culture heritage restoration
- EUR 350,000 for the acquisition of units of investment funds or venture capital funds
- EUR 500,000 investment in a real estate purchase
- EUR 350,000 investment in real estate for the refurbishment of properties older than 30 years
- Investing in a business that would create a minimum of 10 new jobs
Recently, Portugal has developed a non-habitual resident (NHR) taxation regime with reduced tax rates on foreign income for ten years. The intent is to attract investors and high-net-worth individuals to invest in Portugal and help its economic growth against the benefits of becoming residents of the country with family.
For more information about the Portugal Golden visa and understanding the terms and conditions of the investment options and residency, speak to the experts at Abhinav Immigration Services. We have well-informed and highly proficient consultants to guide you on your pathway to your favorite destination. To set up your counseling session, call us on (+91) 859 533 8595 or write to [email protected] today.