Portugal Golden Visa is Portugal’s version of Residency or Citizenship by Investment (CBI). It is one of the most attractive residency programs in the World. It is a way for the Ultra High Net-worth Individuals (HNIs) to attain a second passport. Portugal is part of the European Union (EU); therefore, High Net-worth Individuals from all over the World interested in doing business in the EU or making their children pursue education apply for Portugal Golden Visa or Citizenship by Investment. However, it should be noted, unlike other Citizenship by Investment programs, at first the applicants receive a residency permit to reside in Portugal and can only apply for citizenship in the sixth year post receiving the residence permit.
There are many ways to apply for the Portugal Golden Visa:
- Depositing 1 million Euros or more in a Portuguese bank account/ stocks/bonds or any other approved investment option.
- Invest 350,000 Euros or more in research activities or companies related to national scientific and technological systems.
- Invest 350,000 Euros in companies incorporated under the Portuguese law with a lock in of at least 5 years and, at least, 60% of the investments is realized in commercial companies with head office in national territory.
- Invest a minimum of 250,000 Euros for supporting arts or refurbishment or reconstruction of national heritage.
- Invest in a company and create at least 10 jobs, the number of jobs is reduced to 8 in areas of low population density.
- Invest a minimum of 350,000 Euros in a property that is at least 30 years old and situated in an Urban Regeneration Area.
Advantages of Portuguese Citizenship
- Portuguese Passport is considered one of the most powerful passports in the world. It allows visa free access to more than 115 countries.
- Portugal is part of the European Union therefore, there is freedom of travel, trade, and education throughout the Union.
- Compared to other residence programs of developed countries, Portuguese Golden Visa is a cheaper alternative.
- Portugal allows dual citizenship, therefore citizens of other countries that allow dual citizenship such as U.S., U.K do not have to give up their passport to obtain a Portuguese Passport.
- The residence requirement to maintain Portuguese residence is minimal, only 7 days a year.
Author: Ishwar Pratap Singh Sethi
Ishwar is a graduate of Symbiosis Law School, Pune. At Global Immigration Review Magazine he works in the capacity of Content Management Executive. Global Immigration Review Magazine covers global immigration, migration and mobility trends from the United States, United Kingdom, Canada, Australia, Grenada, Cyprus, Portugal, Turkey. Subject matter of coverage includes study visa, work visa, start up and entrepreneur visa, investment immigration like EB-5 visa and Portugal Golden Visa, citizenship by investment and more.