Portugal is a rich in culture and heritage. It is located on the area near the Atlantic Ocean which is one of the most coveted areas to reside in. The country is a member of the European Union, NATO, Eurozone, WTO, Schengen area, and the United Nations enabling its citizens to travel visa-free in more than a hundred countries. Portugal is a semi-presidential republic and its government is headed by a prime minister which is appointed by the president. Portugal is also known to have a warm Mediterranean climate which is distinctively wet during winter. It is trading primarily with Asia, the US, Canada, the European Union, South America, and Africa.

Residency by Investment Program

The residency by investment program of Portugal called the Golden Visa was launched in 2012. This was according to the specifications set by the Portuguese Foreign Affairs Ministry and the Department of Consular Affairs. In 2015, there were changes that were introduced into the program. The program offers 7 investment options for an applicant to obtain a residency status in Portugal. The most popular of such options is the real estate investment.

Under the program, the applicant must invest in a €500,000 worth real estate investment in Portugal which shall stay with the applicant for five years minimum. It could also be a €300,000 worth real estate which requires reconstruction and one that has been built for over thirty years in locations that are of historical and cultural significance.

Other investment options are the following: investing EUR 1 million in Portuguese company shares, investing a minimum of EUR 350,000 on research and development, investing a minimum of EUR 250,000 for the restoration and refurbishment of national heritage projects, registering a company with a minimum of ten jobs created, acquisition of at least EUR 500,000 worth of shares in investment funds.

There are several advantages offered by the Golden Visa program of Portugal. You only need to reside seven years every year in the country for you to obtain the residency. You also have tax relief for the first 10 years of your and it serves as a safety net in Europe.

Conditions of Eligibility

The residence status can be obtained by the spouse of the main applicant and children who are 18 years old. It also includes children who are still dependent on the applicant and under 26 years old. The applicant has to be at least 18 years old and with no criminal record. The applicant must also have a health insurance. Processing the Portugal Golden visa takes 3 to 4 months.