Investing in Portugal golden visa program is a great way to obtain permanent residency and citizenship. This program is specifically geared toward investors who are non-EU nationals. It includes information on the requirements to apply, costs, and investment options. It is the perfect way to become a citizen of Portugal without leaving your current home country.
The investment program for non-EU nationals
If you’re an investor interested in establishing a permanent residence in Portugal, you may have several options, including an investment program for non-EU nationals. The Lisbon-based program allows investors to invest in real estate or a company. It also grants the investor’s family members certain privileges. For example, the investor’s spouse and minor children are allowed to live in Portugal, and his/her children over 18 can study in the country. The program also allows the parent(s) of the investor to travel within the Schengen area without any restrictions. The program is not for everyone, though.
Offers permanent residency and citizenship
The Golden Visa program in Portugal allows applicants to apply for permanent residency and citizenship for their family members. The visa is valid for two years and can be renewed three times. The main applicant and all dependents must meet residency requirements. Dependent children must be enrolled in a full-time study or be accompanied by a parent who is at least 65 years old. The main applicant must be a student or be unmarried.
Requirements to apply
The requirements to apply for Portugal’s Golden Visa program vary by category. Investment in the arts & national heritage sector requires EUR250, 000 of capital, while investments in low-density regions require EUR200, 000. In addition, investment in scientific and technological research activities requires a EUR500, 000 investment. Investments in research activities can be made in a public or private institution. However, the investment must be substantial enough to create or maintain at least five jobs.
Costs
The Portuguese government has implemented several changes to its golden visa program to attract foreign investors to the country. The program offers two main options for business investment, one of which requires investors to invest EUR500, 000 in a company and create five jobs. The other option involves investing EUR250, 000 in science and culture projects. While these investments are both attractive, they come with significant costs. For example, the annual local tax for real estate acquisition is substantial. Additionally, there is a rental income tax if you rent out your property.
