Monday, May 20, 2019
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Portugal — valuable opportunities for residence permit

 
By 3.4.2019         Phone:9632855771       Mail Now Send Mail   Post Comments

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 maintaining.

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,  


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