Portugal, with its picturesque landscapes, cosmopolitan cities, quaint villages, Mediterranean cuisine, and love for good wine, has been drawing in affluent clients and investors from around the world. It is one of Europe’s most sought after tourism locations and offers a myriad of investment and lifestyle benefits for those that opt to apply for a Portugal Golden Visa.
This investment migration program was launched in 2012. It has since raised over 6 billion euros in foreign direct investment which has served to support Portugal’s economic development. During the course of 2021, over 102 Portugal Golden Visas were granted to US applicants. Fueled by the uncertainty that the pandemic generated, demand from the US market grew exponentially. US investors chose to secure a “Plan B” that provided them with greater global mobility, a diversified portfolio of investments, and a safeguard should another crisis occur.
A residence by investment permit such as the Portuguese Golden Visa, allows eligible high-net-worth individuals to invest in varying approved categories of investment with amounts ranging from EUR 250,000 to EUR 1,500,000. The most popular investment categories are real estate (EUR 280,000-EUR 500,000) and qualifying Portuguese funds (EUR 500,000).
The Portuguese Golden Visa grants the right to live, work and study in Portugal as well as travel freely throughout Europe’s Schengen Area for 90 out of every 180-day period. In order to comply with the terms of the permit, the visa holder must be in Portugal for a minimum of 14 days in the first two years and 7 days each following year. After five years, they become eligible to apply for Portuguese citizenship, subject to meeting all compliance and government requirements.
With one of the most seamless and efficient residence by investment programs in Europe and a ten-year tax incentive scheme that foreigners who relocate there can avail, it is no wonder that demand for this Mediterranean gem has soared. Experienced and qualified advisers are readily available to provide guidance to those interested in investing in Portugal.
Contributed by Civitas Post.