Portugal is located on the Iberian Peninsula and borders the Atlantic in the west and the south, and Spain in the east and north. Its population is 10.8 million, of which 270,000 live on Madeira and 245,000 on the Azores. The capital is Lisbon, with about 3 million people, and other major cities include Porto, Braga, Aveiro, Faro and Coimbra. Its Algarve coastline (photo above) is one of the premier holiday destinations in Europe and the country receives about 13 million visitors per year. Portugal has a first-world, industrialized economy and its population enjoys a moderately to high standard of living, but within the European Union it ranks as one of the smaller economies. It is a member of the Eurozone, EU, NATO and the Schengen area.  English is widely spoken.

Through the Golden Residence Permit,  investors receive permanent residency status after five years of temporary residence and Portuguese citizenship after an additional two years. The Golden Residence Permit does not grant immediate citizenship, but it gives residents access and limited visa free travel to the Schengen area and residents enjoy most of the benefits of citizens, such as the right to work in Portugal, free education, social assistance and medical care. 

A big benefit is the flexibility to reside outside of Portugal, even after the residence permit is granted, since the resident must spend a minimum of seven days in the first year and 14 in each of the following 2-year periods in Portugal. In addition, residents can apply for a family reunion visa so that their family members can join them as residents. On approval applicants will obtain a residence permit authorization card which serves as an ID and traveling document.

Portugal’s tax system is a big attraction to Golden Visa applicants. If you spend less than 183 days a year in the country, you are exempt from almost all foreign source income tax, plus there are no inheritance, gift, or wealth tax. There is also a special tax regime for non-habitual residents.

There are two investment options:

1. Buy real estate with a minimum value of €350,000 in a rural area or €500,000 in urban areas. If not for own use, the properties acquired can be freely rented out for commercial, agricultural and tourism purposes. In 2015 the government introduced a level of investment of €350,000 for certain categories of real estate, namely for property that is over 30 years old or located in an urban regeneration area and which requires renovation. This is reduced even further to €280,000 for similar renovation properties located in low density, less developed areas of the country. Portugal’s housing index shows average prices have increased by nearly 40% since 2013
2. Make an investment in Portugal of at least €1 million in a Portuguese company. The investment must be held for at least five years and must be attested by a bona fide signed declaration and evidence of having invested the minimum amount required, including stocks or shares of companies. It is possible to have co-ownership, with each co-owner making an investment of €500,000. Alternatively, applicants can establish a Portuguese company that employs more than 10 people. 

To receive citizenship applicants must have been resident in Portugal for at least 6 years, be at least 18 years old, have a sufficient knowledge (A2, a beginner’s level)  of the Portuguese language, have not been convicted for a crime which corresponds to a penalty of more than 3 years corresponding with Portuguese law. 

If you are interested in the Portuguese residency and citizenship-by-investment route, but feel uncertain about the next step, we can help.  We work with a network of highly skilled investor migration professionals and can introduce you to the top legal firms in the field of investor migration. This will be followed by a a no-cost, no obligation consultation. There is no referral or introduction fee and you will be contacted by professionals who will be able to answer questions and offer fast, efficient and cost-effective residency and citizenship solutions in Portugal. 

Please direct  questions to residencycitizenship@outlook.com