The Portuguese Golden Visa has been in existence since 2012. Since then, it has undergone several changes and updates necessary for a program of this importance and impact.
Also, due to this, several news are being given by the news media, which may cause some confusion, so an update on the Golden Visa Program is important.
The Recent News on the Portugal Golden Visa
Following a speech by Portuguese Prime Minister António Costa a few days ago, the Golden Visa Program was targeted for reevaluation by the government.
Of course, since it's one of the world's most successful Residency by residency-by-investment programs, news has come out questioning the current government´s commitment to the program.
To this day, the Golden Visa Program is not scheduled to end. Quite the opposite.
Changes to the program came into force at the beginning of the year, which drove the resurgence of appealing investment options for acquiring real estate properties on low thresholds.
The Portugal Golden Visa Program is very much alive, despite the news triggered by this speech circulating the internet.
Regardless, any changes to the program would also not affect ongoing investments and pending applications between the moment they are announced and the time they are effective, and currently, it's neither.
"To this day, the Golden Visa Program is NOT scheduled to end. Quite the opposite."
The Golden Visa Program
A Golden Visa is a permanent residency permit for investment purposes that may include family members (also known as Family Reunification) like the spouse, dependent children, parents, and inlaws over 65.
It's aimed at non-EU citizens who wish to apply for Portuguese permanent residency (or Portuguese Citizenship after 5 years) in one of the safest countries in the world, where the sun shines for over 9 months per year.
With this residency permit, the holder benefits from Visa-free travel across most of Europe, and access to public health care and education.
From 2012 to this day, the Golden Visa Program has attracted over 6.5bn of investment to Portugal from more than 11.000 investors and 18.000 of their family members.
Although a large part of that investment has been mostly directed to the Real Estate sector, ever since being introduced for Golden Visa eligibility in 2018, Private Equity Funds have seen increased relevance, particularly in the last couple of years.
"Visa-free travel across most of Europe, and access to public health care and education."
Portugal Golden Visa Investment Options
Different investment options and diverse thresholds qualify and were updated in 2022 for a Portugal Golden Visa.
Acquiring a real estate property with a minimum investment of 280.000€ or more, depending on the location.
Investing a minimum of 500.000€ in acquiring Portuguese Private Equity Funds dedicated to capitalizing companies - to be eligible, the fund should be at least 60% invested in Portuguese companies.
Capital Transfer of a minimum of 1.500.000€.
Investing a minimum of 500.000€ in research conducted in the national scientific or technological system.
Investing a minimum of 500.000€ in artistic output, supporting the arts, or in reconstruction/renovation of Portuguese national heritage.
A Capital transfer of a minimum of 500.000€ for incorporation or reinforcement of a Portuguese company, combined with creating or maintaining 5 jobs for a minimum 3-year period.
Creating at least 10 jobs.
"sunny weather, the quality of life, and feeling truly welcome."
Benefits for the Portugal Golden Visa Holder
Among the numerous benefits a Portugal Golden Visa holder has, we could highlight the sunny weather, the quality of life, and feeling truly welcome by the Portuguese people in one of the safest countries in the world.
But there are also a few other more practical ones:
Residence Visa waiver for entering Portugal.
Visa-free travel within the Schengen Area, composed of the vast majority of European countries. This list of countries excludes Bulgaria, Romania, Croatia, Cyprus, Ireland, and the United Kingdom.
Family reunification of the spouse, dependent children, parents, and inlaws over 65.
Possibility of applying for permanent residence after 5 years and/or Portuguese Citizenship.
The possibility of access to the Non-Habitual Residence Program (also known as NHR), which grants qualifying individuals the possibility of becoming tax residents whilst legally avoiding or minimizing income tax on certain categories of income and capital gains for a period of 10 years. As a tax resident, you must stay in Portugal for at least 183 days in a year.
The Schengen Map
Portugal Golden Visa Holder Obligations
All these benefits come with only two strings attached:
The qualifying investment must be maintained for a period of no less than 5 years (while the permit is valid).
A minimum stay requirement of 7 days per year on average (14 days each 2-year period).
YPT Golden Visa & Investment
We see our clients as a family at YPT Golden Visa & Investment, so we worry and care about them. They matter.
We're not just saying this because it sounds good.
We take our work seriously and are passionate about our client's well-being and investments.
That’s why without a doubt we believe we should be anyone’s priority if considering a Portugal Citizenship by Investment Visa, aka Golden Visa.
So contact us by email at info@yptgoldenvisa.com for a free consultation or click here for more information.
YPT Golden Visa & Investment
References
https://home-affairs.ec.europa.eu/schengen-visa_en European Union official website
https://www.yptgoldenvisa.com/get-goldenvisa How to get the GoldenVisa
https://www.yptgoldenvisa.com/why-portugal-goldenvisa Why Portugal Golden Visa?