Portugal Golden VISA Program for 2020-21
by XIPHIAS IMMIGRATION migration executivePortugal located in the European continent,
is one of the top immigration destinies since the country opened its gates
through the Portugal
Golden Visa Program. The program started in the year 2012. The country
provides different pathways for investment to help immigrants choose the one
that closely helps them with their immigration. Portugal generates the largest
quantity of corks in the world. The country believes in sacredly maintaining
their heritage and culture. Portugal has attracted many multi nationals to open
their branches there. Portugal has its own music genre.
This program allows investors to choose
from one of the below –
i.
Invest in Real estate a minimum
of Euro 500,000 if investing in a new property or Euro 350,000 if investing in
a 30 year older property
ii.
Start a company which could
provide employment for a minimum of 10 locals
iii.
Donate Euro 250,000 to the
organizations that work on maintaining the heritage and culture of Portugal
iv.
Become angel investor in one of
the R & D projects – Euro 350,000
v.
Capital transfer of Euro 1
million into personal bank account in a bank in Portugal
vi.
Invest funds of Euro 350,000 to
acquire units in an organization based in Portugal.
No other countries have these many options
for investors. Greece
Golden visa program too grants its visa in exchange for the real estate
investment in the country, while France requires the investor to invest in the
business of the country.
The whole of the process takes 3 to 6
months. The options are affordable and are one of the best in the whole of
Europe. The program doesn’t require the investor to live in Portugal for a
period more than 7 days every year to maintain the permanent residency there. The
holder of this visa gets access to other Schengen countries without the
requirement for any VISA. The holder can live, study and work in any of these
countries. The immediate family of the applicant can also obtain this VISA.
Eventually, the investor will obtain
Citizenship of the country. It could take 6 to 8 years to obtain the
citizenship. This is not similar to Citizenship
by Investment program. Portugal is an affordable country providing high
quality life. Portugal has strong infrastructure to support business in the
country along with great climate. The country’s landscape is amazing like a
dream.
Portugal passport allows the holder to
travel to more than 160 countries visa free. Portugal doesn’t need its
residents to pay any taxes there if the resident lives for less than 183 days
in the country.
The visa is valid for a period of 5 years
and is renewable further on. The investor should be more than 18 years of age.
The investor should be able to prove the source of Income and also the income
should come from outside of Portugal. It is one of the strongest Investment
Immigration Programs in the whole of Europe.
In 2020, new rules were issued on this visa
program. Now the initial visa will be granted for 2 years and subsequently
residency will be granted for the next 3 years. This needs to be renewed every
3 years. The residency card granted helps the investor to travel across the
Schengen area allowing them to live, work and study in the place they like. For
the first two years of temporary residence, the investors will have to stay in
Portugal for a period of 14 days. During the subsequent 3 years, they will need
to spend a minimum of 21days in Portugal every year.
It is important that the applicant works
with an experienced international investment
immigration firm to help them understand the Portugal Golden Visa
program and proceed in accordance to their requirement.
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Created on Dec 17th 2020 05:55. Viewed 308 times.