Launched in 2012, Portugal’s Golden Visa Program offers non-European Union investors a fast track to obtaining a valid residency permit. The visa is initially valid for one year, renewable twice thereafter at 2-year intervals.
Applicants and their families may obtain their Portugal second passport by applying for Portuguese citizenship after 6 years of permanent residency. A Portuguese passport is a prized possession, as the country’s rich history and ease of travel makes this investment program quite popular around the world.
The economy of Portugal seemingly improves daily, now growing at its fastest rate since over a decade ago, largely due to a rise in industrial production. More and more entrepreneurs are gaining Portugal citizenship to take advantage of strong industry growth.
Some of the biggest industries they’re diving into include aeronautics, automotive, building materials and engineering/architecture.
Basic education is free for anyone with Portugal citizenship, with a compulsory age of six to fifteen, receiving a certificate of basic education at the end.
Higher education is found in polytechnics and universities, many of which are high-ranking academic institutions. Students can find degrees in just about any career field as they would in the UK or the U.S.
Housing and Real Estate
Homes are selling for great value, but prices are slowly and steadily climbing as the economy bolsters. There’s still value to be had for those who act quick in getting their Portugal passport. On top of that, real estate investors enjoy a solid 5.8% rental yield.
Your average standalone property in Portugal would run about $400,000 with a promising future ROI for those who may decide to sell in the future.
Health Care System
Those with Portugal citizenship will find that the standard for healthcare is very high in both the public and private sectors, now ranking at #14 in the Euro Health Consumer Index (EHCI).
Those with a Portugal passport will benefit from the public medical care funded in part by social security contributions made by working residents. In addition, health insurance can be covered up to 100% under qualifying plans.
BENEFITS OF PORTUGAL PASSPORT
– Visa-free travel in Europe (Schengen area)
– Live/work in Portugal while remaining the legal resident of another country
– Residency extended to family members
– Citizenship granted in 6 years
REQUIREMENTS FOR PORTUGAL PASSPORT
– Possession of a valid passport
– Documented proof of the source of invested funds
– The investor must not have a previous criminal record
EUR 500,000 in a fund that invests in small or medium sized businesses
Acquisition of real estate valued at EUR 350,000 (minimum)
Creation of 10 jobs (minimum) in Portugal
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« Dual citizenship isn’t a political gesture; clients view this as an asset to their business or brand. Citizenship is a tool for doing business, similar to an exclusive club membership, to be leveraged as necessary.»