Portugal is ranked 6th as a country that enjoys personal freedoms and is one of the leading relocation choices for entrepreneurs and retirees.
The Portuguese Investor visa is designed to encourage investment from non-EU nationals. It was launched in 2012 and has generated a large amount of foreign direct investment (approximately 2-3 billion EUR).
It offers a wealth of opportunities for investors in terms of global mobility, returns on investment and access to Europe.
Portugal has had a steady economic upturn since 2014, and is currently growing at a sustainable rate of 2-3% per annum along with falling unemployment rate of ~6%. This sunny Mediterranean country also boasts one of the most competitive tax regimes in Europe and has a Non-Habitual Resident program in place.
Benefits of Portuguese Golden Visa
1. Portuguese Golden Visas allow for increased global mobility;
2. Portugal is a member of the European Union and a Schengen member;
3. It is not mandatory to relocate/reside in Portugal, but the holder should visit Portugal for 7 days every year or 14 days in a 2 year period during the first 5 years;
4. The initial investment is returned/can be sold after 5 years;
5. Clients do not need to relocate to Portugal in order to apply for Portuguese Citizenship after 5 years;
6. Golden Visa holders that do relocate to and reside in Portugal can avail the 10 year tax exemption under the Non Habitual Resident regime.
AXESA advise all clients on the process from submission to successful application and exit or citizenship applications in the future for clients who relocate and reside in Portugal or move to another EU country.
Portugal Golden Visa Options
Applicants will need to meet the eligibility criteria and also invest in either of the following approved options:
1. A minimum of EUR 1 million invested in a Portuguese company or held in a Portuguese bank account for 5 years; or
2. Establishment of a Portuguese company that creates employment for at least 10 residents; or
3. A minimum EUR 350,000 investment in investment funds or venture capital companies that are supporting Portugese SMEs; or
4. A minimum of EUR 500,000 invested in real estate for 5 years;
5. A minimum EUR 350,000 investment in the purchase and redevelopment/refurbishment costs of a property that is over 30 years old, in an area marked for urban redevelopment; or
HERITAGE & RESEARCH
6. A minimum EUR 350,000 investment in Portuguese cultural or scientific research; or
7. A minimum EUR 250,000 investment in approved artistic development or national heritage projects.
The application time-frame from start to completion is 4 to 6 months. Once all documents have been reviewed during that period the initial Portuguese residency permit is granted for 1 year.
It can subsequently be renewed for another 2 years, so long as the investor has visited Portugal for a total of 14 days during that period. It is renewable for a subsequent 2 years.
Those who have not previously been resident in Portugal for the previous 5 years but wish to relocate, can do so and enjoy a 10 year Portuguese tax exemption. Any Portuguese sourced income will be taxed at ~20% (not the progressive rates) and foreign sourced income will be tax exempt (unless taxes at source subject to treaties and particular cases).
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A Route to Citizenship
It is not mandatory for Portuguese Investors/Golden Visa holders to relocate to Portugal but should they opt to do so they can live, work and study in Portugal. It offers ~300 days of sunshine, a safe and stable socio-political environment and is home to excellent academic institutions.
It is an established member of the European Union and is also a Schengen member therefore all Portugal Golden visa holders can travel freely throughout the Schengen area.
Unlike other programmes that require permanent physical residence in the jurisdiction in order to obtain citizenship, such as Ireland, Golden Visa holders can apply for Portuguese citizenship after 5 years.
Those interested in a Portuguese Investor/Golden visa as a route to European citizenship can then avail all the freedom of movement to live, work and study through the EU once they meet the Portuguese citizenship criteria.
Are you Eligible?
The Portuguese Golden Visa is suited for individuals who have:
1. a reputable character;
2. a traceable and clear source of funds;
3. an impeccable criminal record; and
4. are non-EU citizens.
Maintaining the integrity of the investment migration industry is of paramount importance to us, hence we work exclusively with clients that align with our ethos.