Portuguese passport ranks #6 globally, and the country is considered one of the best to live and retire. EU citizens can move into it without any problems. For people from non-EU countries, Portugal has established a golden visa investment fund that allows receiving residence permits for exceptional contributions to its economy. Find out how to get a residence permit in Portugal through investment, the program requirements, and how it can lead to citizenship.

Who Can Apply for the Portugal Golden Residence Permit Program

A Portugal golden residence permit has the following conditions for applicants:

  • Be 18 years and older.

  • Have no history of criminal activity.

  • Be in good health.

  • Have outstanding character.

  • Proof to have sufficient assets to fulfill the chosen investment option.

The application process, during which these requirements are checked, usually takes 3 to 6 months. After that, an investor can get the necessary contributions to obtain a residence permit in Portugal.

How to Get a Residence Permit in Portugal

To get a residence permit, one must comply with Portugal's golden visa requirements and make one of the seven eligible investments. Here are all the options that investors have:

  1. Investment in property of at least €280,000.
  2. Investment fund purchase for €500,000.
  3. Make €250,000 contribution to arts and culture.
  4. €500,000 R&D investment.
  5. €1,500,000 capital transfer.
  6. Investing €500,000 in business.
  7. Starting a business that creates at least 10 workplaces.

Those are the minimum requirements that are hard to come by when investing in real estate. As Victor Esik, an expert in immigrant investment, explained to us, to meet this minimum requirement, a property you buy must have been built more than 30 years ago and be situated in a low-density area. In other cases, you will need to pay 350, 400, or 500 thousand euros to be eligible for the program. An applicant must hold the investment for at least five years after making it.

Obtaining Citizenship with a Portugal Golden Visa

Five years after getting a residency permit with Portugal's golden visa scheme, an investor and all the family members he or she included in the application can apply for citizenship. The only requirement is that they must spend seven days each year holding the golden visa in Portugal before application. After that, they become full-fledged EU citizens with all the benefits it gives.

Portugal Golden Visa Benefits

A golden visa grants numerous advantages for business and quality of life. Here is what you and your family will get for investing in the country's economy.

Freedom to Move Across Europe

A residency permit alone will allow you to stay for 90 days in the Schengen zone countries and travel without a visa. When you get citizenship, you can also work and register for business there.

Tax Exemptions

Since no permanent residence requirements exist, investors can gain non-habitual resident status. It gives a total exemption from paying taxes on global income for 10 years and reduces the local income tax rate to 20%, more than two times lower than usual.

Healthcare and Education

Residual permit grants access to the country's free healthcare and education system. Both rank high by global standards, ensuring good quality of life and a bright future for children.

Conclusion

Portugal's golden visa program allows wealthy people to get a residence permit quickly and easily and use the many benefits of living in the EU. The minimum investment amount is €280,000 in real estate investment. If you want to learn about golden visa schemes in other countries, we suggest reading this article about the best Golden visa programs by Immigrant Invest.