Portugal’s golden visa is the best way to move to Europe plus real estate opportunities and travel tours? Why live and invest in Portugal ? Because is one of the major touristic attractions of Europe and the perfect retirement home! What is Portugal’s Golden Visa Program Definition & History? The Golden Visa Portugal is an investor visa program designed to attract foreign capital and business people in exchange for residency and, after 5 years, citizenship. Portugal launched the Program 2012 and by today the program attracted more than 4,4 billion EUR and more than 7200 investors. 95% of this amount has been invested in real estate. The applicants must invest in real estate for at least 500’000 EUR for 5 years. The majority of applicants are coming from China followed by Brazil, South Africa, Turkey, Russia and Lebanon.
Will the changes impact existing investments? Existing investors will be “grandfathered” into the old rules. However, there are two uncertainties: What the cutoff date will be for being granted the Golden Visa according to the old rules. What stage of the process you need to have reached when the cutoff date comes around. Regarding the cutoff date, even the end of the year (December 31, 2020) now seem unlikely. My guess would be late 2021, but it could be sooner or the rule change may be permanently changed. Your residence card will allow you to travel freely within the Schengen countries (you also need to bring your passport), without applying for any visas.
In order to be eligible for the scheme you must conduct an investment activity either as an individual or a company set up in Portugal or another EU Member State, meet the time requirements above and do one of the following: Purchase real estate property to refurbish that was constructed more than 30 years ago or located in an urban regeneration area and with a value of at least 350,000€ (three hundred and fifty thousand euros) or 280,000€ (two hundred and eighty thousand euros) for the Algarve, Make a capital transfer of at least 1,000,000€ (one million euros), Create at least 10 job positions. Find additional details on https://www.idealhomesinternational.com/services/golden-visa-portugal-residency-portugal-property-for-sale-portugal-real-estate-portugal_458.
Who is eligible for the Golden Visa? Any third country national—meaning anyone except Portuguese and EU/EFTA citizens—can apply for the Golden Visa after completing a suitable investment into Portugal. The investment can be made as an individual or through a legal entity meeting certain requirements. You will also need to meet the (minimal) physical presence requirements mentioned below. Maintain the investment for a minimum period of five years. Spend a minimum of seven days in Portugal during the first year, then not less than 14 days in each subsequent 2-year period.
As well as being able to experience the Portuguese lifestyle for yourself, the Golden Visa scheme will also provide you and your family with the opportunity to explore the rest of Europe and discover all that it has to offer. Those enrolled in the scheme will benefit from the following: Low minimum stay periods (7 or more days in first year and 14 or more days in subsequent years). After 5 years you will have the possibility of obtaining permanent residency or citizenship and a Portuguese passport. Read even more details on here.