Investing in a residency by investment program can be an attractive solution for non-EU citizens who are looking to gain the advantages of living and working in Europe, and Portugal’s golden visa program stands out as one of the most attractive options. This invaluable asset offers many benefits – from increased mobility within EU countries and worldwide to well-rounded safety nets surrounding all investments. Whether applicants are looking for strong real estate returns’ stability, tax savings on foreign income, or access to some of Europe’s best healthcare systems, the Portuguese golden visa has something to offer every investor.
With the recent announcement by the Portuguese Prime Minister, Antonio Costa, that the program will be terminated by the Portuguese Government in the near future, now it is the time to apply and benefit from all the advantages that the program avails.
Here is a look into the reasons why it makes sense for non-EU citizens living outside Portugal to apply for this unique visa.
- Access to Tax IncentivesOne of the significant benefits of holding Portuguese residency is the tax neutrality. Golden Visa holders are treated as non-resident if they do not live in Portugal permanently, being only taxed on their income generated in Portugal. If one decides to live in Portugal, one can benefit from Portugal’s non-habitual resident (NHR) regime, which offers significant tax incentives for foreign income earned outside Portugal, such as dividends and pensions.
- Freedom of Travel within the Schengen Area: As a holder of Portugal golden visa, investors will be able to travel freely throughout all countries in the Schengen Area. This includes all European nations, including France, Germany, and Italy. Furthermore, investors can stay up to 90 days in any Schengen country without having to obtain additional visas or permissions.
- Access to Quality Healthcare Systems: Non-EU citizens who obtain Portuguese residency through a golden visa are granted access to one of Europe’s most respected healthcare systems. Moreover, they can also benefit from generous tax exemptions on medical expenses incurred within Portugal.
- Enhanced Security of Investment: The Portuguese golden visa program provides several safeguards to protect investors. All funds invested must be traceable and subject to anti-money laundering regulations, while the investment property must meet specific criteria in terms of size and location.
- Portuguese Nationality Eligibility in Five Years: After only five years of Golden Visa residency, investors can apply for Portuguese citizenship. Compared to other countries’ requirements for EU citizenship, which may be far more stringent, this is an incredibly short period of time, with low physical permanence requirements. The residency conditions are also quite accommodating and lenient in nature. Holders of the Portuguese passport have the opportunity to settle and work anywhere in the European Union while also having access to over 150 nations without requiring an entry visa.
Overall, investing in Portugal’s golden visa program can provide non-EU citizens with numerous advantages – from freedom of travel to reduced taxes on foreign income. By taking advantage of this unique visa program, investors can enjoy the many benefits associated with living and working in one of Europe’s most attractive countries. With so much to gain from this favourable opportunity, it makes sense for non-EU citizens to consider applying for a Portuguese golden visa today. As the window closes on the program, prospective investors should initiate their applications soon to benefit from the program.
At Passport Legacy, we are dedicated to helping you navigate the complexities of investing in the Portuguese golden visa program. Our team of experienced professionals can help guide you every step of the way, from choosing the right investment products to filing your application and beyond. Contact us today to learn more about how you can start taking advantage of this attractive opportunity.