European residency by investment programs are a great way for non-European Union nationals and their families to obtain the right to live, work and travel freely throughout the Schengen Area. Holding an EU residence card can prove to be very beneficial and advantageous. As such, these programs are highly sought-after by High-Net-Worth individuals and businesspeople as a means to secure a prosperous future for themselves and their loved ones while gaining the many benefits associated with EU residency, including access to quality education and world-class healthcare.
In This Article:
- About the Portugal Golden Visa Program
- How Much Will It Cost?
- Benefits of Being A Portuguese Resident
- Book a Free Consultation
These European residency by investment programs can be quite expensive. Bulgaria’s residency program alone requires a minimum investment of €512,000, while more prominent countries like The Netherlands require a minimum investment of €1,250,000. Fortunately, there are European countries that offer Golden Visa Programs at more affordable investment rates. One of these is the highly sought-after Portugal Golden Visa Program. We break down everything you need to know about how much the Portugal Golden Visa Program costs.
About the Portugal Golden Visa Program
Launched in October 2012, the Portugal residency and Golden Visa Program is a legal process based on the law that invites foreign investors from non-EU countries to obtain fully valid residency permits in Portugal for themselves and their families.
The Portugal Golden Visa Program requires applicants to be at least 18 years of age, in good health, possess no criminal record, have confirmed investment sources and successfully pass due diligence checks. Individuals can apply as single applicants or as a family. Eligible family members include the spouse of the main applicant and children (biological or adopted) under 18 years of age. Parents and children older than 18 years old can be included in the application if they are dependent on the main applicant.
In 6 months, successful applicants will receive their residency permit. They will gain the right to live, work, travel and study in Europe, as well as gain access to Portugal’s healthcare and consumer rights. After 5 years of holding residency in Portugal, individuals are eligible to apply for Portuguese citizenship.
If all the minimum criteria are met, applicants to the Portugal Residency by Investment Program must purchase property in Portugal before the application can be filed.
Successful candidates who meet all the requirements, have made the necessary investment and are granted residency permits will have to visit Portugal for 7 days per year for 5 years to fulfil residency requirements.
How Much Will It Cost?
Many fees need to be paid before, during and after the application process. Besides the investment amount, other costs need to be kept in mind. We break down what you can expect to pay for when applying to the Portugal Golden Visa Program.
Investment Options And Amounts
- Paying a Capital Transfer of at least €1 million.
- Generating 10 new jobs for a Portuguese business or single-member company (reduced to 8 positions if in a low-density area).
- Investing €500,000 in real estate. This is reduced to €400,000 if located in a low-density area.
- Investing €350,000 in a real estate rehabilitation project. This is reduced to €280,000 if located in a low-density area.
- Investing €350,000 into private equity funds.
- Property Transfer Tax (IMT) calculated at up to 8% or 6% if for non-habitational purposes.
- Annual Property Tax (IMI) calculated at 0.3 to 0.8% of the purchase price.
- Additional Municipal Property Tax (AIMI) calculated at 0.4 to 0.7% of the purchase price.
- Stamp Duty calculated at 0.8% of the purchase price.
- Family process analysis priced at €81.10.
On-Going Costs During The Period Of EU Permanent Residency
- New ARI permanent residency cards cost €5,202.60 per family member.
- Renewal of residency card after 12 to 36 months cost €2,601.30 per family member.
- Renewal of residency card after 36 to 60 months cost €2,601.30 per family member.
- ARI permanent residency after 60 to 84 months cost €2,601.30 per family member.
These estimates are subject to change and exclude extra associated costs like professional fees, official application forms, certification of citizenship and passport, courier and other disbursements. When choosing Savory & Partners as your authorized agent, we provide you with a fully itemized quotation with no hidden costs.
Benefits of Being A Portuguese Resident
The Portugal Golden Visa Program is a gateway to endless opportunities and a better, more secure life for an individual and his/her family. The benefits of a Portuguese residence card is more than worth every penny you will spend during the application process. And here’s why:
- Freedom of movement: As a permanent resident of Portugal, investors are also classified as a resident of the European Union. They will gain freedom of movement without restrictions in the Schengen Area.
- Health & Education: Investors and their families can enjoy quality education in schools and universities and world-class healthcare across Portugal and Europe.
- Minimal residency required: The program requires a minimal physical residency in Portugal of 7 days per year.
- Pathway to citizenship: When investors fulfil all the residency program requirements and hold their residency for 5 years, they are then eligible to apply for Portuguese citizenship.
- High-ranked passport: The Portuguese passport is ranked in the top 5 passports in the world for ease of travel.
- Ease of travel: If residents of Portugal successfully obtain citizenship, they can then enjoy visa-free or visa-on-arrival travel to over 185 countries and territories, including the USA, Singapore and Hong Kong.
Book A Free Consultation
Before applying to any Residency by Investment program, individuals must ensure that they are rendering the services of a government authorized agent and advisor like Savory & Partners. The internet is rife with fraudulent companies offering scams that promise citizenship within an implausible timeframe and at an impossibly low price. If it’s too good to be true, then it probably is.
As a British Authorised Agent with decades of experience and over 900 families approved, Savory and Partners specialize in granting second citizenship and passports to High-Net-Worth investors from the Middle East and beyond.
If you are interested in Portugal’s Residency by Investment program or have any questions and queries you would like cleared up, book a free online consultation today and one of our agents will happily aid you in securing a better, prosperous future for you and your family.
We are available on every channel convenient for you.