Portugal — valuable opportunities for residence permit
Portugal Republic located in the South-West of Iberian Peninsula is westernmost
country of the continental part of Europe. Additionally, Madeira and the Azores
are governed by Portugal.
Image by amurca from Pixabay
It is the country with warm subtropical Mediterranean climate, beautiful
landscapes and rich animal kingdom. It is a sight for sore eyes. However, this
article is not about beauties but opportunities offered to a Portugal resident.
This Republic is a politically stable establishment with a well-developed
economy, low crime rate and high overall living standards and health care
As many other countries do, Portugal has an intention to advance its economic
growth by means of engaging foreign investments. For this reason Portugal
government offers residence permit to the citizens of countries which are not
the members of the European Union and European economic area, as well as to
people who do not have citizenship of Switzerland.
In addition to the above, Portugal residency offers numerous benefits. Except
for stability, state residents obtain the following opportunities:
- visit the countries of the Schengen area without a visa;
- start business in any country of the European Union;
- use taxation allowance for the first 10 years of dwelling;
- not to pay taxes on income of foreign origin.
It can be seen that Portugal proposes a lot of advantageous opportunities to
investors and businessmen in exchange for their contribution to the country’s
economy. The government has started the program of Portugal residency by
investment called the “Golden visa”.
The point of the program
Being launched in 2012, “Golden visa” program is a beneficial option for foreign
investors, as well as for their families. It gives an opportunity to receive
residence permit in Portugal by means of financial contribution.
The government offers three investment options to obtain the status of the
country’s resident: immovable property, government’s projects and creating new
jobs. Let us have a closer look to each variant hereunder.
1. Investment to immovable property
The applicant has to make a contribution to one of the following objects offered
by the program:
- estate purchase - this real estate cannot be sold or otherwise alienated
for a five-years term; however, within this term it can be exchanged for similar
immovable property of minimum USD 500,000 value;
- purchasing immovable property built over 30 years ago or being under
reconstruction for the purposes of major renovation.
2. Injection of capital
In this case you have entire four options of investment:
- purchase shares or equity positions of Portugal companies;
- purchase shares of corporate stock from investment funds or venture capitals
for the purpose of small and middle-sized companies capitalization;
- invest the capital to scientific research;
- invest monetary funds in securing and renovating cultural heritage of Portugal
and for local talents support.
3. Creating new vacancies
Not such a bulk of option here. An investor can contribute a defined sum to an
existing or new Portugal company with the purpose of creating at least five
vacancies for at least three years. Another option for the applicant is the
opportunity to furnish proofs of the fact that 10 vacancies have been created in
direct result of his activity.
The applicant should also take into consideration that he/she should be present
in the country for at least seven days a year. The resident is able to receive
residence permit for not only him/herself but also for his/her wife/husband,
children and parents, providing them with the right to be employed. These are
the main points of Portugal Golden Visa scheme. Some other peculiarities of
residence permit obtaining are explained in details at https://migronis-citizenship.com/portugal-golden.
Participants of this investment program approved by the Portugal government can
also apply for receiving permanent place of residence in the country or for
receiving the passport. It is possible after five years of uninterrupted
inhabitancy on the country’s territory with temporary residence permit. However,
in this case, the necessary requirements include language mastering of at least
a beginner's level and the presence of accommodation and permanent income.
Handily, Portugal government acknowledges dual citizenship so you don’t need to
renounce your initial passport.
Portugal Golden Visa Program is a great backup opportunity for proprietors which
allows getting tax benefits and makes international business running easy.
TAGS: Portugal immigration
, Portugal visa
, Portugal Golden visa scheme
, Portugal residence permit