Portugal – Europe is a member of the North Atlantic Treaty Organization (NATO) and the European Union (EU). Portugal has become a diversified country with an increasingly service-based economy. Portugal takes its art seriously and family is placed at the heart of everything. The country is admired for its architecture. The climate in the country is ideal with hot summers and mild winters. According to InterNations, an expat support network based in Germany, Portugal overall ranks among the top 3 out of 64 countries for leisure options, health & well-being, safety & security, personal happiness, travel & transportation, and digital life. From groceries to rent, the cost of living is undeniably low. Moving to Portugal has always been a very attractive proposition for people. The Ministry of Internal Affairs (MAI) reported that more than 82,000 new residence permits had been issued this year.
The Golden Visa Stream has proven to be the most favored and recognized stream for investors attracted to its ease and benefits. Eligible applicants can obtain residency within three to six months. The most attractive option is the ability to apply for European Citizenship after 5 years by fulfilling the 35 days residency requirements. It allows Visa-free travel within the Schengen Zone. It is an approved Government Program by the Portuguese Government. It started back in 2012, in this program, you are allowed to make an investment of €500,000 or €350,000 or €280,000 in real estate with full rights and acquire European Residency and Citizenship in the country (European Citizenship). The stability & success of the program is depicted by the total investment in this program which is approximately €4,622,042,687/=
Eligibility and Details of the Portugal Golden Visa Program
The requirements are simple and straight forward as follows:
1. You & your family should have a clear criminal background.
2. You must be able to make qualifying & acceptable investments in Portugal.
3. Medical insurance to cover any stay in Portugal.
Portuguese Government provides a very relax residency environment for investors, you & your family can enjoy a vacation trip & fulfill residency obligations! It is only seven (07) days in first year and fourteen (14) days in 2 years & subsequent 2 years and you can qualify for European Citizenship. Along with the relaxed residency requirements, you need to pass a simple basic Portuguese Language Test. The salient features of the program are mentioned below:
• Investment of €350,000 in an approved project.
• The project is owned by a huge real estate development company.
• This particular project will give you a return of 3% profit on your investment per anum, which is cumulatively 15% profit after 5 years.
How to proceed Permanent Residency Program
- Sign Client Facilitator Agreement (CFA). Collection of necessary documents to prepare Legal Package for attestation.
- Book appointment with the Portuguese Embassy for signature and attestation of documents in Investor’s country of residence. OR Visit Portugal to open a bank account in person and sign legal documents at law firm.
- Transfer investment funds into opened bank account.
- Execution of title deed and property transfer to Investor’s name.
- Online submission of main applicant’s file at SEF (Immigration and Borders Service) and payment of related fees— performed by lawyers through POA.
- Notification of approval sent online by SEF.
- Appointment at SEF for biometric collection of all family members.
- Mandatory trip to Portugal for collection of biometric data and other relevant procedures for 2 business days (implies valid Schengen visa).
- Notification of final approval from SEF.
- Issuance of residency cards.