Portugal is a famous destination for ex-pats in Europe, and its popularity has not decreased despite recent world events. Portugal is one of Europe’s oldest countries, with a good reputation, a high human development index, and a high degree of security, making it one of the world’s most globalized and peaceful countries.
Portugal has been a member of the European Union and the Schengen Area since 2002, and its currency is the euro. The official language is Portuguese. However, English is commonly spoken, particularly among younger generations and in tourist areas.
Portugal, a relatively small country with a population of about 10.3 million people, has a rich history, vibrant culture, outstanding food, a pleasant climate, beautiful beaches, and picturesque countryside.
Portugal is dedicated to developing renewable energy sources such as hydro, wind, and solar. Such resources provide almost 40% of the energy generated in Portugal, including the world’s most efficient wind tower. Portugal has simplified its legislation to make it easier for non-EU nationals to receive a residence permit based on their investment.
Portugal’s economy is transitioning toward business-oriented services, while manufacturing still accounts for a third of the country’s GDP. It is also the world’s largest cork supplier and benefits from a thriving tourism business. The person is eligible to seek Portuguese citizenship after five years of residency.
Portuguese citizenship gives you the freedom to live, work, and study in any EU country, as well as visa-free or visa-on-arrival travel to 187 countries across the world. The resident permit permits visa-free travel inside the Schengen Zone of 26 European countries and only requires a seven-day stay in Portugal on average per year. If the candidate has lived in the country for five years, he or she is eligible for citizenship.
Dual citizenship is permitted in Portugal. The applicant may establish genuine connections with the Portuguese community in order to improve the chances of getting citizenship approval.
The residency permit permits you to live, work, and study in Portugal, as well as travel freely within the Schengen Area of Europe. The Portugal Golden Residence Permit Program (also known as the Portugal Golden Visa Program) is a five-year residency program for non-EU citizens.
The Portugal Golden Visa is a residence-by-investment program that allows non-EU investors to live, work, and study in Portugal in exchange for a EUR 280,000 investment. After 5 years, successful applicants can apply for permanent residency or citizenship in Portugal through this scheme.
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The Portugal Golden Visa program has become Europe’s most popular plan, with investors drawn to its flexibility and benefits. Since its inception in 2012, the investor visa program has received extensive international promotion, garnering over a thousand primary applications each year. A family with dependent children can obtain a residency visa in Portugal by investing €500,000 (€280,000 or €350,000 reduced option) in real estate.
During the application period for the Portugal Golden Residence Permit, the principal candidate must make two journeys to Portugal:
It’s a quick way to get permanent residency and citizenship in an EU country – with the Golden Visa, an applicant can get Portuguese citizenship in as little as five years.
The required investment options were updated and new ones added under Act 63/2015 and Regulatory Decree 15-A/2015. The following options are now available to investors:
Real estate holding time: Five years minimum
Minimum Real estate investment : EUR 350,000 (for homes older than 30 years or in urban renewal areas) (for properties older than 30 years or in urban regeneration areas)
Ownership layout: Joint ownership
Rental income: 3–5 percent
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