Nevertheless, as an investor, you do need to spend a week in the first year and two weeks in the next two years to retain the allowance.ĭuring the said 5 years, you are permitted to visit the country and any of the Schengen states completely visa-free. Upon completing the eligibility conditions for five consecutive years, you can apply for Portuguese citizenship without the need for permanent residency. The bar was set as low as €500,000 in high-density areas or €400,000 in low-density regions for property all across Portugal.Īs the name suggests, Golden Visa essentially provides you with a residential permit upon investment. Investment in the real estate sector became quite a lucrative affair with the initiative. You can choose from a real estate or venture capital fund investment, transfer capital for forming a company that creates at least 5 new jobs or issue a donation to the state for research or national heritage. Next up come the three options to acquire the visa. The constant requirement is that the investor should live outside of the EU, EEA and Switzerland as well as hold no criminal record whatsoever. The qualification criteria for the Golden Visa is a three-ended scheme with a blanket condition. Ever since its introduction, it has amassed a wealth of almost €6 billion for Portugal. This is when “Golden Visa” came into the picture.
While internal affairs were set in order, the nation needed outside stimulus to get back on its feet. With economies going for a free fall, Portugal’s situation worsened, thanks to the 2003 recession that kept the country stagnant for a while. The scheme came into place as a revival route from the global financial crisis that gripped Portugal and the world in 2008. The authorizations for residency of investment (or popularly known as ARI) was incepted in the year 2012. Let’s dive deeper into how this creates an opportunity for you. The changes were structured towards increasing the minimum capital investments in the country.
The postponement of the restrictions makes it a ripe time to invest in the dense areas of Lisbon, Porto and Algarve, along with the coastal spaces in Setubal and Silver Coast. Pre-planned for July 2021, the amendments sought to curb the money-spinning investments in the area. In view of the recent turn of events, the Portugal government has taken a decision to extend the deadline for the country’s Golden Visa restrictions to the beginning of next year.
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