In October 2012, The Portuguese Ministry of Affairs enacted a law enabling non- EU/EEA citizens to obtain The Portuguese Golden Visa, a special residency permit, through Portugal’s Golden Residency Permit Program (ARI) in exchange for a 5-year investment in the country.
Portugal is a culturally rich country that offers safe and quality living making it a very attractive destination for families. Other benefits and advantages of the Portugal Golden Visa extend to include:
- Visa free access to 26 Schengen countries
- The ability to work and do business in the country without a work permit
- No tax on global income
- The eligibility for permanent residency or citizenship after 6 years
- No requirement for business background, educational background, or language proficiency
- The ability to include up to three generations in the application.
Introduction of a new investment path:
Initially, most of the Golden Visa applicants chose to obtain their permanent residency through Real Estate Investment. In this case, applicants are required to invest a minimum of €350,000 in a property that is at least 30 years old or that is located in an urban renewal area. However, if property is centrally located or newly built, investment amount goes up to €500,000.
Recently, the option to obtain the Portugal Golden Visa through an Investment Fund is gaining an increased popularity. This option requires a minimum investment of €350,000 in a fund that complies with the Golden Residence Permit Program.
Despite the popularity of the real estate investment option, many investors are currently choosing to invest in the fund as it is considered a more risk-free investment option. With 6 years lock up duration (5 years of immigration policy compliance + 1 year for SEF’s unexpected processing delays on renewal), applicant enjoy the opportunity to be able to collect 100% of their initial €350,000 investment at the end of this period.
Therefore, for applicants who are not considering residing in the property they purchase in Portugal, the Portuguese Investment Fund is probably a more sensible investment path owing to its extremely high return.
If you are looking for an investment opportunity that allows you to work, travel, live and send your children for the best education in the Schengen EU zone, Golden Visa programs are solid programs with high return on investment. Please allow Bluemina’s team of expert consultants to assist you in understanding your different residency by investment options and to guide you on your application to become a global citizen.