Ever since its launch all the way back in October 2012, the Portuguese residence programme has garnered attention like a forest fire. Launched to help the economy grow and prosper, and to maximise the inflow of foreign investors, the Portugal residence by investment programme has been a success in its major aspects. It is a one-time investment plan, that allows buyers and investors to make investments in various properties in the nation of Portugal, against a residence permit, which gives you the perks similar to that of being a legal citizen, without actually moving into the country.
Commonly known as the Golden Visa Programme, the Portugal Residence Permit Programme is a five-year-long investment plan that allows non-European nation resident investors to make investments in the Portuguese economy. They are granted residency after five years, along with a chance to apply for permanent citizenship in the nation of Portugal. This was a carefully curated move, introduced by the Portuguese government back in late 2012, to improve the economy that was in shambles since the late 2000s. You can find more information about the residence permit in Portugal here.
The Golden Visa is not just an investment in Portuguese properties for the rich, rather it is a way of getting better exposure to newer and more developed markets of the European Union, and a chance to gain many facilities from the same. The following article discusses some of the major benefits that one can experience if they are enrolled in the Golden Visa Programme endorsed by the government of Portugal:
Increased Rights In Portugal
If you are planning to invest in the Portugal Residence Permit, then you are automatically entitled to a vast variety of rights that the locals already enjoy. One gets to live in the nation, obviously, and also get access to various rights, such as the right to live, work and study freely within the country. This is also applicable to the family members of the investor as well so that no near or dear one is left behind. The country is also known for its great educational system which is generally recognised all over the globe. So if you are the head of your family, and are planning to make investments in foreign properties, the Golden Visa could be the best choice for you and your family members.
Along with this, the investors are also entitled to enjoy the best in class services and the great health care system of the nation.
Visa Free Movements
If you are an investor in the Golden Visa Programme of Portugal, then you and your family members can travel without a visa in the European Schengen region. All you would need is a valid passport and the tickets. That is it. No need to wait in long queues, both online or offline, to get a visa approved to some of the most beautiful locations all around the world.
For the untreated, the Schengen region of Europe covers some such as Sweden, Switzerland, Norway and Finland, along with many more. These countries are well-exposed to tourism and the European markets, making them perfect to grow and expand your business and get adequate exposure to the EU world.
Added Tax Benefits
Like the various EU states, Portugal too does not tax the people who are contributing to the society. With this, it means that there is no income tax in Portugal, and whatever a person is earning from whatever means is completely theirs to keep and spend. This is another factor that makes Portugal a go-to destination for the new-age investors, as they are constantly looking for ways to maximise their savings.
If you enrol in the residency permit programme, then you are also eligible to get a double citizenship, one from your original country, and the second one from Portugal. You might also want to expand your business to the European markets, which would make it a great deal, as you would not be taxed for anything during the first ten years of your stay.
Additional Benefits
Apart from getting a home in a foreign land, the Golden Visa Programme is a complete package that would give you and your family a well-secured and bright future. If you make an investment in the economy of the nation of Portugal as one of the applicants of the Residence by Investment scheme, you would be given all the benefits that a local citizen enjoys, from free education to over-the-top healthcare access, all round the clock.
What All Is Required To Join?
To apply to the programme, one needs to qualify a few parameters that are set by the government to prevent the misuse of the scheme, and to safeguard it from fraud. These parameters are:
Age
The person applying to the residency programme must be an adult, which is they should be at least 18 years old. This is to ensure that no minors are making these important decisions, even on behalf of someone else.
Capital
To apply, you must give proof of a set amount of income and capital on you, or associated with you. This could be divided into the following forms:
- Make a capital transfer to a Portuguese bank, or investment in the property of at least 1.5 Million Euros.
- A 500,000 Euros investment in a public or private research expedition.
- A 250,000 Euros Investment in art and heritage management systems.
A Clean Slate
Applicants must be of a sane mind, should be able to make valid decisions, should carry valid and original health insurance, and should be free from any sort of criminal activities or connections.
A failure to meet any of these parameters would simply mean disqualification from the process. So make sure to maintain these before applying.
Conclusion:
By the end, it should be now clear how the Golden Visa Program of Portugal works, and how one could actually make use of the same. The programme is a boon for those who are looking for a new life in a better place. With some money, you can also own a residency in a foreign land.
