Portugal Golden VISA Program for
2020-21
INTRODUCTION
Portugal located in the European continent, is one of the top immigration destinies since the country opened its gates through the Portugal Golden Visa Program. The program started in the year 2012. The country provides different pathways for investment to help immigrants choose the one that closely helps them with their immigration. Portugal generates the largest quantity of corks in the world. The country believes in sacredly maintaining their heritage and culture. Portugal has attracted many multi nationals to open their branches there. Portugal has its own music genre.
This program allows investors to choose from one of the below – Invest in Real estate a minimum of Euro 500,000 if investing in a new property or Euro 350,000 if investing in a 30 year older property Start a company which could provide employment for a minimum of 10 locals Donate Euro 250,000 to the organizations that work on maintaining the heritage and culture of Portugal Become angel investor in one of the R & D projects – Euro 350,000 Capital transfer of Euro 1 million into personal bank account in a bank in Portugal Invest funds of Euro 350,000 to acquire units in an organization based in Portugal.
No other countries have these many options for investors. Greece Golden visa program too grants its visa in exchange for the real estate investment in the country, while France requires the investor to invest in the business of the country. The whole of the process takes 3 to 6 months. The options are affordable and are one of the best in the whole of Europe. The program doesn’t require the investor to live in Portugal for a period more than 7 days every year to maintain the permanent residency there. The holder of this visa gets access to other Schengen countries without the requirement for any VISA. The holder can live, study and work in any of these countries. The immediate family of the applicant can also obtain this VISA.
Eventually, the investor will obtain Citizenship of the country. It could take 6 to 8 years to obtain the citizenship. This is not similar to Citizenship by Investment program. Portugal is an affordable country providing high quality life. Portugal has strong infrastructure to support business in the country along with great climate. The country’s landscape is amazing like a dream. Portugal passport allows the holder to travel to more than 160 countries visa free. Portugal doesn’t need its residents to pay any taxes there if the resident lives for less than 183 days in the country.The visa is valid for a period of 5 years and is renewable further on.
The investor should be more than 18 years of age.The investor should be able to prove the source of Income and also the income should come from outside of Portugal. It is one of the strongest Investment Immigration Programs in the whole of Europe. In 2020, new rules were issued on this visa program. Now the initial visa will be granted for 2 years and subsequently residency will be granted for the next 3 years. This needs to be renewed every 3 years. The residency card granted helps the investor to travel across the Schengen area allowing them to live, work and study in the place they like.
For the first two years of temporary residence, the investors will have to stay in Portugal for a period of 14 days. During the subsequent 3 years, they will need to spend a minimum of 21days in Portugal every year. It is important that the applicant works with an experienced international investment immigration firm to help them understand the Portugal Golden Visa program and proceed in accordance to their requirement. SOURCE:
https://www.apsense.com/article/portugal-golden-visa-
program-for-202021.html
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