Golden Visas are gaining in popularity across European countries because of their flexibility and relative ease to gain and they see an almost instantaneous access to EU markets due to their requirement for investment. Portugal is at the forefront of this movement with a scheme running for about 5 years aimed at attracting foreign investors into the country due to the massive economic boost it has provided them with so far.
The Golden Visa is granted for an initial year and then further prolonged every two years which also allows for uninhibited travel between all EU countries in the Schengen areas.
There are several different schemes that vary for Investors, Entrepreneurs, Students and high qualified workers and all require minimal basic requirements to be fulfilled such as a minimal stay in the country of seven days in the first year of the visa and a further fourteen in the following two. You also need to have no criminal record and be older than eighteen.
The most popularly pursued route is the option of investment with the Portuguese government offering a residency scheme which gives who spend 500,000 euros on a property in the country, the right to live in Portugal. After six years on the scheme applicants have the right to apply for Portuguese citizenship as well offering further incentives and opening up greater investment opportunities.
Investment options don’t have to come in the form of property however as other options include investing one million euros in capital, such as corporate shares or cash in a bank for five years, and investing in a, or starting your own, company that creates ten permanent jobs within Portugal. All of these options are available providing the investment doesn’t come from a country that is a fiscal island. If investing via a company it is possible to do it through a foreign one providing you can prove you own the majority of said company.
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