PORTUGAL GOLDEN VISA PROGRAM
The Portuguese Government launched the Portuguese Residence Program in 2012 to attract foreign investment. The residence program allows all non-EU citizens of good character to apply for a residence permit, known as the Portugal Golden Visa, when making a qualifying investment in line with the Portugal Golden Residence Program requirements. By far the most popular investment for this purpose is the purchase of real estate due to the feasibility of long-term and holiday rentals.
The Portugal Golden Visa is valid for a period of 5 years and allows the holder to reside or work in Portugal and to travel in the Schengen area. Family reunification is permitted. After maintaining an investment and holding the Golden Visa for a total of 5 years, the holder may then apply for permanent citizenship and the Portugal passport program, which would then be obtainable and in effect, giving EU citizenship.
The residence requirements are minimal, broadly an average of 7 days per annum during the 5 years of residence. There is no language requirement. The procedures have recently been streamlined and the timelines improved making it a fast and flexible route to residence. Portugal permits dual citizenship. Subject to due diligence requirements, any non-EU citizen may apply for this second passport.
Portugal is the most western nation of the European continent. It is surrounded by the Atlantic Ocean to the west & south, and Spain to the north & east. Portugal has a population of around 11 million.
Portugal is a member of the European Union, the Eurozone, Schengen and numerous international organizations, including the United Nations, the OECD and NATO. It is a highly developed country with a high-income advanced economy and high living standards.
The capital city is Lisbon and the official language is Portuguese but English is widely spoken. With its pleasant climate, excellent health care and low cost of living Portugal is an appealing country for the investor or businessman seeking a destination with excellent quality of life and good communication links. Portugal has long been a popular holiday destination for Europeans, particularly on the South Coast.
If the holder of a Portugal Golden Visa resides in Portugal for less than 183 consecutive days annually there is no requirement to pay taxes for income or gains generated outside Portugal. Income and capital gains taxes are payable in respect of income and capital gains arising in Portugal.