Portugal has become one of the most popular countries for foreign investors seeking a second home. The Portugal Golden Visa program was introduced in 2012 by the Portuguese government in order to attract foreign investment and generate capital for the country. The program has been an enormous success, with many individuals and families enjoying a new life in Portugal.
The Portugal Golden Visa Program is a hot topic right now. The government has been reevaluating and reviewing the program, with some changes proposed and expected to take effect to the 2023 Golden Visa Program, which may result in terminating the program.
No timeline was given, applications are still open, and investors currently going through the Portugal Golden Visa process will not be impacted.
The Portugal Golden Visa has generated at least 6.5 billion euros in investment by foreigners to obtain a residence permit in the country, most of the applicants went for the real estate option in Lisbon, Porto, Cascais, and other coast areas in the country.
Obtaining a Portuguese Golden Visa and the fast-track permanent resident status is no longer the only motive to consider buying property in Portugal. The country has established an excellent business climate for investors and tycoons with many incentives, such as reductions and exemptions on tax, as well as the benefit of traveling and commuting freely within the Schengen Area. Many wealthy investors and families used the scheme to become eligible for the Portuguese Citizenship after six years.
Another appealing feature of the golden visa is the ability to include your dependent family in the application. Your family can enjoy the same opportunities and a second home in a safe and stable country.
The application can include the following family members:
– You can apply for Portuguese residency by investing 280,000 euros in commercial real estate, one of Europe’s lowest investment thresholds.
– You are not required to relocate to Portugal in order to keep your residence permit. Staying in the country for an average of seven days per year will suffice.
– In six years, you can apply for Portuguese citizenship. This is one of Europe’s most demanded citizenships by investment route.
-You can travel to more than 185 countries without a visa when becoming a Portuguese citizen.
At Bluemina Citizenship & Residency, we have years of professional expertise in the permanent residency and golden visa programs and have seen firsthand the development of the sector. Our experts were chosen for their skill and expert knowledge to provide investors and individuals with the most efficient consultation, offering our clients a tailor-made and transparent journey in their quest for a Portugal Golden Visa through commercial real estate acquisition.
Contact us and speak with one of our skilled team members to answer all of your questions.