Since 2012, Portugal has been operating a “golden visa” program – obtaining a residence permit in exchange for investment. For investors, this is an opportunity to obtain visa-free travel in Europe and a short path to EU citizenship in just 5 years.
Portugal is a wonderful country to live in: with a good climate, incredible nature, a huge number of attractions, a high standard of living, quality education, and medicine.
History of the residence permit by investment program
The program has been operating since 2012 and for several years in a row has been considered one of the best in the world according to various ratings. Over the entire period, more than 9 thousand foreign investors have received a residence permit in Portugal.
Conditions for obtaining a residence permit in Portugal
The Portuguese program of obtaining a residence permit in exchange for investment is one of the most loyal in Europe. A residence permit can be obtained by both an investor and his family members – this opens up great opportunities for business, travel, education, and comfortable life in a stable country.
Investors often see Portugal as a pleasant place to relax and live for the whole family.
Investor requirements are standard for most European programs:
- Age over 18;
- No criminal record;
- Legal source of income.
Thanks to simple and understandable conditions, since 2012, more than 15 thousand family members of investors have received a residence permit in Portugal.
Residence permit in Portugal
The residence permit is given for one year and is renewed twice for two years – for a total of 5 years. To confirm your status, you need to spend 7 days in Portugal in the first year and 14 days every two years thereafter.
After 5 years, you will be able to obtain permanent residence and apply for Portuguese citizenship, which will give you even more freedom in travel and business.
Pros and Cons of participating in the Portugal Golden Visa program
Pros
+ Spouses and children can participate.
+ You only need to spend 7 days a year in the country.
Cons
– your children over 26 years old cannot participate in program;
– your parents over 65 years old cannot participate in program
Moreover, you can travel to Europe without a visa Portugal is a member of the European Union. In addition, having a Portugish residence permit allows you to visit 30 European countries without a visa: the 27 member countries of the EU, and Cyprus, Bulgaria, Croatia, and Romania.
With a residence permit, you can live in Portugal as long as you like. Children can study at the university, and parents can spend the whole year in a Portuguese villa.
In other countries, the standard Schengen rules apply a maximum of 90 days within six months.
Pros
+ You can stay in Portugal without restrictions.
+ The ability to obtain citizenship faster than by naturalization.
Cons
– You need a visa to the UK and Ireland.
Portuguese citizenship
Obtaining an EU passport in 5 years A Portuguese passport opens up even more opportunities. Thanks to their combination, many industry ratings give it top positions. For example, the Nomad Passport Index takes into account the number of countries with visa-free travel, the level of taxation, quality of life, and other parameters and puts the Portuguese passport in fourth place.
In the European Union, you will be considered a full citizen with all the privileges: you will be able to live, work and study freely in any country.
Citizenship applications can be submitted after 5 years. This is one of the shortest terms in the EU. In comparison with Spain and Greece, you can apply for citizenship only after 10 years.
In addition, Spain does not allow second citizenship. To obtain citizenship, investors must fulfill two conditions:
- Pass the Portuguese language proficiency test at A2 level (the basic level);
- The minimum stay in Portugal – one week per year.
Ordinary applicants also need to prove their connection to Portugal: for example, having a job, real estate, or family relationship with the Portuguese. Investors with a golden visa do not need to prove anything further.
Pros
+ The ability to obtain citizenship faster than by naturalization.
+ Free travel to more than 130 countries of the world.
+ Work, study, and rest in the European Union without restrictions.
Cons
– Confirm your knowledge of Portuguese at the A2 level.
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