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Portugal, a Country Rich with History can be your Future

By May 17, 2019 No Comments
Portugal Residency

Located on the border of Spain, Portugal is the second oldest country in Europe. It’s rich history and robust economy makes it a great choice for second citizenship and residency.

Portugal is part of the 28-member countries of the EU and the Eurozone. It is a remarkable tourist destination that welcomes around 10 million tourists on a yearly basis. Tourism accounts for 10% of its GDP and manufacturing, agriculture, renewable energy, and trade sustain the Portuguese economy.

To revamp its economy after a major hit during the 2008 financial crisis, in 2012 Portugal introduced the most renowned Residency-by-Investment program in Europe, commonly known as the “Golden Visa.”

 

Here are the details:

 

  • Qualified applicants may obtain residency permits for themselves, their spouses, dependent children, and parents.
  • Applicants receive their residency permits within 2 months of making an investment and applying.
  • The residency permit holder can apply for naturalization after 6 years of legal residency in Portugal.

 

Why Choose Portugal?

 

  • Visa-free access to all European Schengen countries
  • Right to live, work, and study in Portugal
  • No tax on foreign income for non-residents
  • Dual citizenship is allowed in Portugal

 

What are your Investment Options?

 

Investment Option 1: Purchase of Real Estate

 

  • € 500,000: Invest in real estate of any type and in any area
  • € 350,000: Purchase and refurbishment of real estate property older than 30 years or a property located in areas of urban regeneration

 

Note 1: One or multiple properties can be purchased

Note 2: If a € 350,000 property is purchased, the price does not include the cost of refurbishments

 

Investment Option 2: Capital Investment

 

  • € 1,000,000: Flexible investment in Portugal (i.e companies, shares, real estate, etc.)
  • € 500,000: Venture capital investment (small to medium size companies, shares, etc.)
  • € 350,000: Investment in research activities
  • € 250,000: Investment in artistic production or maintenance of the national cultural heritage

 

Investment Option 3: Job Creation

 

  • Creation of at least 10 jobs in Portugal
  • No minimum investment value

 

Note 1: Any investment must be held for a minimum of 5 years

Note 2: Prices above are exclusive of application fees, VAT, and professional fees. Please contact us for an accurate quotation

 

What is the Timeline Breakdown?

 

Don’t start packing just yet. Below you will get a year by year breakdown to your road to becoming Portuguese.

 

Year 1: Make an eligible investment

 

Within 2 months you will receive temporary residency permit which is valid for one year. You will be required to visit Portugal for 7 days. A one-week vacation is one of the more exciting parts of the process.

 

Year 2: Renew your residency permit

 

Your residency permit is only valid for 2 years. At this point, you will need to visit Portugal for 2 weeks.

 

Year 4: Renew residency permit

 

Your permit will be valid for 2 years only so you will need to make another 14-day visit to Portugal.

 

Year 6: Apply for a permanent residency permit

 

Year 7: Apply for citizenship

If you are looking for a beautiful country to call home, look no further. Portugal is a great place for newlywed, businessmen, and families. It might not be the fastest or least expensive dual citizenship option but it is certainly one of the most exciting places to live in Europe that offers great opportunities.

Schedule a consultation meeting with us to find out more details about this program and how we can help you achieve this dream.

We love holding our client’s hands through this entire process and offering guidance and genuine support. However, Citizenship Bay’s scope of services is limited to assisting investors and their families in obtaining a temporary residence permit.

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