Portugal is a southern European country located at the South-Western tip of Europe bordering Spain. It is popular for its landscape diversity, magnificent coastline, beaches, and warm climate. The location of Portugal has isolated it from its neighbors which have created a uniquely rich culture that attracts tourists and investors from all over the world.
As a recognized economic international hub, as of the year 2019, Portugal has more than 70 double taxation agreements and more than 48 investment protection treaties, it is one of the European countries that have successfully improved their taxation and investment policies over the past few years to attract foreign direct investment to get the country back on its feet after the financial crisis.
Since the year 2018, The latest amendments and reforms to the citizenship and residency laws have made Portugal increasingly become one of the major residence destinations for foreigners across the world as the latest figures that were published in June 2019 in the Immigration Frontiers and Asylum report (RIFA) have shown, the major change was the amendment to the Nationality Law on July 2018, which reduced the required legal residence for foreigners to be able to apply for the Portuguese citizenship from 6 to 5 years.
What is the Golden Visa Program
The official name of the program is the ARI (Autorização Residência para Atividade de Investimento), this residency scheme which started in the year 2012 enables non-EU individuals and their eligible family members to obtain the right to reside in Portugal for up to five years, which can lead to the Portuguese citizenship, it is one of the most recognized residency programs across Europe and the world as the Portuguese government has granted more than 7,000 Visas (from the program inception in 2012 up to the end of 2018), this program offers several different options for investors to qualify for the Portuguese residency whether it is through Real estate investments which start from €280,000 EUR, business formation and creation of jobs, or capital transfer.
Upon making and registering the required investment, applicants will receive the residence permit which has a validity period of 1 year and can be renewed for two subsequent periods of two years, and they can apply for family reunification at any point after obtaining the residency.
There are many key advantages and benefits that investors will enjoy once they decide to invest in Portugal, as it is one of the most secure countries in the world, with a stellar reputation in the areas of human development, economy and quality of life. Moving to this developing multicultural country will for sure bring you future financial and economic benefits due to the attractive tax regime and the ability to obtain the European Citizenship through one of the most flexible and financially lucrative residency programs across the world.