The Portugal Golden Visa program has become one of the most appealing investor visa programs in the European Union in recent years. Investors from all over the world are interested in receiving a second citizenship or residency visa in exchange for their investment, allowing non-EU investors to live, work, and study in Portugal. The Portuguese Golden Visa program provides specific benefits to investors and their families.
Immigration to Portugal can be facilitated in a variety of ways. However, the Golden Visa program is the quickest and most popular way to obtain citizenship or permanent residency in Portugal. The government simply requires a five-year wait before granting full residency or citizenship. Many other countries, including Italy and Spain, would like ten years. After five years of investment, simple legal paperwork can be created to obtain citizenship or permanent residency in Portugal.
One of the main advantages of the Golden Visa Portugal is the ability to freely travel within the Schengen area for 90 days every 180 days. After obtaining citizenship or permanent residency, a Portuguese passport is available, entitling the holder to visa-free travel to more than 100 countries, including the United States and Canada. Portugal has the world’s fourth most mobile passports.
After settling in Portugal, residents are eligible for tax breaks under the Golden Visa scheme. If an investor spends more than 183 days in Portugal per year, they must pay tax on their entire international income. However, there is no income tax due for the first ten years and no inheritance tax. Capital gains tax, which is 28%, allows for deductions for expenses and depreciation. The annual property tax (IMI) is calculated at 0.3% to 0.8% of the property’s value.
Portugal also has a relatively high standard of public education from kindergarten to university. It has a literacy rate of 99.44% and consistently achieves above-average PISA results. Although English is taught in many foreign schools, Portuguese is the official language of instruction in public schools. The Portuguese Golden Visa also allows access to some of Europe’s most prestigious educational institutions.
Portugal has a public healthcare system known as the Serviço Nacional de Saúde (SNS). According to the Global Health Innovation Index 2021, Portugal ranked third in terms of patient care and healthcare infrastructure. It currently ranks 12th among EU/EFTA members in terms of healthcare spending, at 9.1% of GDP. 30% of spending is private, while 70% is public. As a result, the majority of the expenses incurred by Portuguese doctors are covered by public health insurance.
Golden Visa Through Real Estate
Real estate investment is the most popular way for investors to obtain a Portuguese Golden Visa. This is due to the fact that they can generate a passive income stream with this option. Furthermore, property in Portugal is becoming more expensive and can eventually be sold for a profit. Wondering how to get a Golden Visa in Portugal? Talk to our team for a one on one consultation.