The Portugal Golden Visa program is so hyped (or popular) because it is Europe’s most lucrative visa program. In addition, the numerous advantages of this Portugal Golden Visa make it a popular option for investors from abroad.
There are various reasons non-European citizens are requesting Golden Visas to Portugal. The rules are easy and straightforward to understand, and, once granted, holders of Golden Visas are able to enjoy several benefits of having Portuguese residency.
In this article, we’ve shown a few benefits that make the Portugal Golden Visa popular:
High-quality healthcare
Portugal’s healthcare system is ranked 22nd among 89 countries. It also got excellent marks for the high quality of its infrastructure. Another study by the World Health Organization rated Portugal 12th in overall healthcare quality.
Medical care is provided free of charge in public hospitals. This is accessible to all citizens as well as Portugal Golden Visa holders.
You can get appointments faster in private clinics than in public ones and get a higher level of services, such as consultations via phone with your physician.
In Portugal, private health insurance plans cover a portion of the entire expense of treatment. Where public health insurance generally covers part of the cost of prescription drugs. Although, it is usually necessary to pay 10 to 85 percent of medical expenses.
High-quality and affordable education
Not only residents of the nation but even foreigners with residency permits can enroll their youngsters in a school or kindergarten that is open to the public. Children are allowed to attend the nursery as young as three months. Then, they can enroll in the school at age six.
There aren’t any queues at kindergartens, and kids learn in small groups. Your child can attend a preschool with English-speaking teachers or opt for mixed English and Portuguese education.
Public schools are free to residents and citizens in the country. The Portuguese school’s certificate of secondary education is recognized and accepted throughout every EU country. Parents have the choice to send their kids to either a boarding school or a private school.
Generally, in public schools, the Portuguese language is used to teach students, whereas, in private schools, classes are taught in English, German, French, and other popular languages.
In Portugal, your children receive the best higher education, as four universities in Portugal come onto the list of the best universities in the world.
Travel visa-free to Schengen countries
With a Golden Visa, you get registration in the Schengen area central system, so you can travel to Schengen countries without requiring an additional visa.
The Schengen area includes 26 European countries that have officially ended the requirement of all passports and any other type of border control at their mutual borders.
After five years, you can obtain a Portuguese passport when you apply for citizenship in Portugal. You can travel to 187 countries visa-free or visa-on-arrival with a Portuguese passport.
Benefits to family members
If you are a Portugal Golden Visa holder, your family can benefit from it too. When you make the required investments, your spouse, as well as children and dependents, may apply for the Portuguese Golden Visa without additional investments and eventually obtain citizenship as well.
The application process for the main applicant and for the dependents is simultaneous.
The family members listed below are eligible to apply with the main applicant:
- Spouse,
- Children younger than 18 years old.
- Children younger than 26 years if they are full-time students and unmarried.
- Parents of the applicant, if they are over the age of 65.
Tax benefits
The Golden Visa Program doesn’t impose any tax obligation on you until you live for more than 183 days in the country. And if you do, you will be a tax resident of Portugal.
The country offers a tax-friendly system for foreigners considering moving to Portugal to become tax residents.
With the Non-Habitual Residence (NHR) program, you get certain exemptions on your income tax for up to 10 years of residency. The program was modified slightly in 2020, which excludes pensioners from tax exemptions on their pension income.
Summary
Portugal, the safest country, ranked 5th in Europe for safety, holds several achievements. But, no doubt, Portugal Golden Visa is the most popular visa program.
Portugal offers a lot of benefits to its citizens. Like, they don’t impose a tax on you until you spend more than 183 days in the country. And even when you become a tax resident of Portugal, there are various tax exemptions for up to ten years.
Your spouse and dependents can get the Golden Visa without making additional investments; also, the education system and healthcare facilities are high quality.
