Among the countries offering citizenship by investment, Portugal is very well known for its excellent residency by investment program, namely, Golden Visa. Being a member of the European Union has also made this country a desirable choice for foreign investors. Recently, the five-year permanent residency requirement for Portugal citizenship changed to a thirty-five-day stay. Citizenship applicants do not have to move to Portugal to obtain citizenship. Besides, the short period of staying in this country to maintain and legalize its citizenship is a huge advantage for businessmen who are not willing to move out of their home country. Only seven days per year and thirty-five in total are the requirements of obtaining Portugal citizenship. This is not the case with other members of the European Union, requiring their applicants to stay in their target country for most of the year. Thus, Portugal citizenship applicants have to acquire a valid residence permit for five years, although they do not have to reside in the country in this period.
Another aspect that makes investing in Portugal rather attractive is the diverse and inexpensive investment options the government has provided for the applicants. The stable economy and its diverse real estate market have paved the way for relatively small investments to enter international real estate markets easily. Portugal Golden Visa requires a starting investment of a minimum of USD 350,000. Investors can choose between investing in Portugues real estate or Portugues investment funds. This latter option has gained significant attention recently for multiple reasons: i) emerging startups and medium-sized businesses, ii) solidifying the economy of the country, iii) more funds imply more profit-making organizations, etc. These, in turn, signify that investors can expect higher returns for their investments and shares in the long-term.
The real estate market of Portugal is flourishing due to its tourism industry growth. In 2019, Lisbon was recognized as the most interesting European city for property investment. In the same year, more than twenty-seven million tourists visited Portugal. This is mainly due to foreign property ownership conditions and reasonable mortgage rates. Investments in Portugal’s real estate market covers 90% of all the investments made in the country. Investors can either buy properties directly or make a mixed property and renovation investment.
On top of these, tax-waiver/reduction programs included in the Portugal Golden Visa lead to the total investment tax exemption in the course of ten years. This has become possible through the Non-Habitual Tax Regime (NHR) program offered by the Portugal government exclusively.
It is also possible to obtain Portugal’s permanent citizenship, considering the qualifying investment is maintained for over five years. As a summary, the Golden Visa requirements are as follows:
To learn more about the requirements and processes for Portugal Residency and Citizenship programmes, feel free to schedule a consultation with one of our Citizenship Specialists. Call +971 4 358 3309 or email us at info @ ikonnect.ae