Become a Resident of Portugal with a Golden Visa Programme
Portugal is offering a Residence by Investment programme that’s drawing the attention of many high-net-worth individuals because of its opportunities.
Residence by Investment programmes enable people to become legal residents of a country by investing in its economy. These programmes are popular for countries seeking funds to strengthen their economy, improve their infrastructure, and provide national benefits like jobs.
Portugal’s Golden Visa programme has an added benefit in that it’s a direct pathway to EU citizenship.
Benefits of the Golden Visa Programme
Portugal’s Golden Visa programme has many benefits besides future citizenship. The initial residency is valid for 5 years, after which you can apply for permanent residency. The residency permit also entitles you to visa-free access to EU and Schengen countries.
There is also only a 7-14-day minimum residency requirement in Portugal per year during the validity of the initial residency permit.
After you’ve acquired citizenship, you’ll also enjoy visa-free travel to over 180 countries, including Japan, New Zealand, the USA, the UK, and the USA.
Life in Portugal
For those interested in setting up a life in Portugal under the country’s Golden Visa programme, Portugal offers residents a high quality of life. It’s the westernmost country in Europe, situated on the Iberian Peninsula next to Spain. Residents enjoy a balmy Mediterranean climate, one of the warmest countries in Europe, with a climate of between 10-28 degrees Centigrade. The country also has a low crime rate, beautiful beaches, a delicious and healthy cuisine, friendly people and a rich cultural heritage.
Portugal enjoys national stability as an EU member. Its population of 10.2 million boasts a literacy rate of 93%.
Steps Involved in Portugal’s Golden Visa Programme
The application process is handled through Premier Consultancy and can be completed remotely. Their team will list the documents needed to issue you with a Portuguese tax number. Once the tax number is issued, you can set up a Portuguese bank account. You must then travel to Portugal to submit biometric data and provide the required original documents, which the Premier Consultancy team will inform you about. The necessary investment funds must be transferred to the Portuguese bank account. Your initial visa will be valid for two years and can be renewed for an additional 3 years.
There are four investment options for the Portugal Golden Visa. They include:
- A capital transfer of at least €500,000 in investment or venture capital funds to capitalise Portuguese businesses.
- An investment of at least €500,000 in research funding for scientific or technology work by Portuguese public or private institutions.
- An investment of at least €250,000 to subsidise artistic progress or preserve Portuguese cultural heritage.
- Establishing at least ten new jobs or investing €500,000 in a Portuguese business that creates at least five permanent jobs within three years.
If Portugal’s Golden Visa programme appeals to you, contact Premier Consultancy Group for more details and start the process of becoming a Portugal resident.
