Portugal Golden Visa – CLOSED DOWN
From 280,000 EUR
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Portugal Golden Visa
Portugal is a safe and stable country with an excellent and affordable quality of life, good healthcare and education options, well-connected airports, and a great climate. Portugal has been a member of the European Union since 1986 and of the Schengen Area since 1995. Portugal launched Golden Visa program in 2012.
Only Non-EU Applicants may apply for this program and there are no restrictions to nationalities. Health insurance is required. Eligible dependents include the spouse, dependent children and dependent parents, as well as, siblings under the care of the main applicant. Children over the age of 18 may also be considered as dependent given they are unmarried and financially dependent on the main applicant, or enrolled in an academic institution. Although there are no age restrictions for dependents, however, children lose residence status on becoming economically self-sufficient.
Requires considerably low investment when compared to other programs. As per law amendment in 2018, applicants have a right to live in Portugal and apply for the citizenship after 5 years of residence should they wish to do so and should they comply with the requirements. The main benefits of the program include the right to travel within the Schengen Area for 3 months within 6 months period. There is a little minimum stay requirement to obtain the residency status. Program allows siblings to be included too. No age restrictions for dependents.
Minimum stay requirement
Applicants must be able to enter Portugal for the first time on the basis of a valid Schengen Visa, and must then meet the minimum stay requirement of 7 days for the first year and 14 days in subsequent years. However, those willing to apply for the citizenship will be required to reside at least 183 days within a year for at least 5 years.
Language test is not required when applying for Portugal Golden Visa. However, should you wish to apply for the citizenship after 5 years of residency, you will be asked to sit for the Portuguese language test, which needs to be passed at the A2 level.
The process of becoming a resident under Portugal Golden Visa program takes around 6-12 months. After 5 years of residency in Portugal and complying with the requirements of the program one has a right to apply for the Portugal citizenship, which is then subject to additional tests.
Personal taxation for non-residents on Portuguese-sourced employment and pension income is charged at a 25%. Interest and rental income, capital gains and dividends are taxed at 28%. Foreign source income, employment income, pension income and business and professional income can be subject to exemption. There is no tax on gifts or inheritances between parents, children and grandchildren. There is also no wealth tax.
Real Estate Investment
If real estate option has been chosen, the property has to be financed by cash investment, taking a loan on it is not permitted. The investment can be in one property or multiple properties as long as the minimum investment is met. The property may be rented out as long as applicant still manages to stay in it at least 7 days within first year and 14 days subsequent years.
Applicants selecting the real estate route are required to make an investment ranging between €280,000 and €500,000 depending on the type of property and its location. The minimum investment in new property in Portugal is €500,000 whilst investment in property which is older than 30 years and situated in urban regeneration areas must be valued at least €350,000. Buildings which are older than 30 years in areas with less than 100 habitants per km sq., must be valued at least €280,000.
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