Portugal is situated in south-west Europe within the Iberian Peninsula, exhibiting a varied climate and bustling cities, yet for the purpose of today, its global ties are important too, making the desire for the Portuguese passport increasingly popular. This stems partly from the COVID-19 pandemic, during which many of us have had a desire to move overseas to explore new environments and find better, healthier lifestyles, as opposed to the extensive periods of lockdown we have all known for the past two years.
Specifically, we will be looking at how Portugal’s own residency by investment, or, golden passport scheme, distinguishes itself from other competitors across Europe and other continents. Why? You may ask, and, quite simply, with so many programs and investments on offer, relocation can become confusing, and at Creimerman it is our goal to make your movement overseas as stress free as possible and so talking you through Portugal’s exciting offer is a great place to start!
Before introducing you to all the information related to Portugal, if you are considering options for citizenship by investment, contact us!. Our specialized team can help you with all your concerns. Click here.
Why Portugal?
We touched briefly on the variety to be found in Portugal, not only of cities and landscape, but also history and cuisine, factors which although small add up to make a country attractive, and Portugal has all of these in abundance.
In terms of the scheme itself, you have four options, something which makes Portugal a great option as you’ve got more scope with deciding were your investment ends up, ultimately allowing you to retain greater control of your capital assets while making sure you experience the best of Portugal.
Here are those four options:
1. €1,500,000 deposited via transfer into a Portuguese bank
2. €500,000 in acquisition of an investment fund or venture capital fund units in a Portuguese company at least 5 years old
3. €500,000 into research as part of the national scientific and technological system
4. €250,000 in support of an artistic program to maintain national cultural heritage
The price of option 3 and 4 drops by €100,000 and €50,000 respectively if the investment is made in an area where population density is lower, meaning the mutually beneficial nature of the scheme is really embraced by Portugal, hopefully satisfying any concerns you may have had beforehand regarding residency by investment.
These four options allow for a multitude of destinations for your money to be decided upon, and if you should invest in a company, your ability to develop workforces in the European country could lead to healthy returns!
One other avenue for investment covered by this scheme which involves a slightly more personal gain is through real estate investment. As we all know, if we are moving abroad having somewhere to live is crucial, and so being able to gain residency by buying a home in Portugal settles two big issues in relocation at once, visa and property.
This requires €500,000 to be invested into a property of €400,000 if it is in a low-density area, as with the previous options, setting Portugal apart as a competitive location for residency by investment, while also giving you the freedom to explore the country and settle in any location which you become attracted to, probably the most difficult decision you’ll have to make during the process!
What are the benefits to me?
- Your permit is initially valid for two years and can be renewed
- Right to work, live and study
- Waiting time of only 3 to 6 months
- Visa-free travel in the EU
- Citizenship is available after 5 years as a resident
- Cuisine, wines and coastline desirable the world over
- Healthcare is second to none, providing peace of mind in your new home
So, if you are interested in finding out more about Portugal, contact us today! Below this article you will find a link to set up a free fifteen-minute consultation with us to discuss your options further.
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