Portugal’s government has confirmed that the country’s Golden Visa Program will be subject to several new changes, starting from January 1, 2022. The changes are as follows:
1. Real Estate Investment in Lisbon, Porto & Algarve will not be considered for the Portugal Golden Visa Program. However, the minimum investment requirements in real estate shall remain unchanged at €500,000.
2. Funds Investment will increase from €350,000 to €500,000.
3. The capital transfer amount will be increased from €1 million to €1.5 million.
4. The capital transfer for research activities will also increase from €350,000 to €500,000.
5. Those incorporating a commercial company or reinforcing the share of a commercial company, will be required to create at least five jobs and invest €500,000 instead of €350,000.
Overview of Portugal Golden Visa Program
Portugal Resident Permit for Investment Activities (ARI), also known as the Golden Residence Permit Program (GRP), came into effect in October 2012 in order to attract foreign investors, who could acquire a Portugal Residency through investments.
The Portugal Golden Visa allows visa-free access to all Schengen areas, and allows for a stay in any Schengen member country for upto 90 days, every six months.
The Investment requirements must be more or equal to €500,000 in Real Estate. Until recently, there were no restrictions on the type or location of real estate properties.
Since 2012, a total of 16,910 family members have been included on the Golden Visa applications. Persons who receive Portugal’s Golden Visa can become eligible for citizenship after five years.
Who can apply:
Main Applicant
⦁ Must be at least 18 years old or above
⦁ Non-EU/EEA Citizen
⦁ Have personal health insurance
⦁ No criminal history
⦁ Must meet the minimum investment requirement in real estate
Dependents
⦁ The legal spouse of the main applicant
⦁ Children of the applicant and/or spouse under 18 years of age
⦁ Children above 18 years of age must be unmarried, financially dependent and studying
⦁ Dependent parents of the main applicant or of their spouse
Advantages:
⦁ Visa-free access to all Schengen member countries. Allowed 90 days’ legal stay, every six months
⦁ Residency requirement is minimal. You are only required to stay 14 days – either continuously or cumulatively - over two years, to be eligible for the Golden Visa
⦁ Can include family members up to three generations
⦁ Free education at public schools and subsidized education in private schools
⦁ Eligible to apply for Citizenship or PR after five years
⦁ Do business or work in Portugal
⦁ Can rent out properties for additional income
To know more, kindly connect with one of our Immigration experts@[email protected] or
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Website: www.guardian.pro
