Golden visa programs are present in several European countries, for example, Turkey, Montenegro, Malta, and, of course, Portugal. They allow people of high net worth to get residence permits or citizenship in the country by making significant investments in the country’s economy. In the case of Portugal, there are seven investment options in its olden visa program and a separate visa program for startups. In this article, we will get into details of Portugal’s golden visa investment options.
About Portugal Residency by Investment
The country’s golden visa program is considered one of the most popular and successful. Since its start in 2012, a little shy of 30,000 people (both investors and their dependents) have gained residence permits using it. Golden visa applicants are not obliged to pass the language mastery test and only need to spend seven days in the country each year for the permit not to be voided. For regular permit holders, the mandatory residence period is 183 days. The list of Portugal golden visa investment options is long, so every investor can find a favorable option.
An analog to Portugal’s golden visa by investment program is its HQA visa. It is granted to entrepreneurs who invest in opening innovative startups in the country and investing in R&D projects. The HQA visa grants the same benefits as a golden visa, including tax exemptions if a holder gets non-habitual resident status.
After five years of having a golden or HQA visa, a person can apply for citizenship.
Investment Options for Portugal Golden Visa
Portugal’s golden visa offers a total of seven investment options:
- €280,000 purchase of a real estate
- €500,000 contribution to the investment fund
- Starting a business and creating jobs
- Investing €250,000 in cultural heritage restoration
- Investment in business or research
- Large capital transfer
Since getting Portugal golden visa with real estate investment is one of the most popular and also complex options, we will take a closer look at it.
Golden Visa in Portugal Through Property Investment
A real estate investment has a couple of sub-options, each with a different required minimal investment amount. Investors can choose from four types of property:
- €500,000 investment in new, regular residual, or commercial real estate.
- €400,000 if it is situated in an area with a low population density.
- €350,000 if the property is designated for restoration or was built more than 30 years ago.
- €280,000 if it is meant for restoration or was built over 30 years ago and is also in a low-density area
The applicant will also have to pay 6-8% of the property value as a transfer tax and a 0,8% stamp duty. As Victor Esik, a specialist from Immigrant Invest, pointed out when we consulted with him on the matter, it is worth mentioning the recent rules concerning some coastal area regions. Since November 1, 2022, residual property in designated coastal, and some mainland areas will no longer qualify for Portugal’s golden visa. These new rules have no effect on commercial property – it will still qualify regardless of its location. To make sure that a private house or villa you are about to buy will get you a golden visa, consult local authorities since zoning rules can be a bit vague and confusing.
Conclusion
Portugal’s golden visa has seven investment options, which include real estate investments, contribution to cultural projects, and creating workplaces. Entrepreneurs can also get an HQA visa with similar benefits. Real estate investment’s minimal requirements depend on the age of the building, its location, and the population density in the place where it is built. If you would like to compare similar programs in Europe, we suggest you check an article by Immigrant Invest about the Maltese golden visa program: https://immigrantinvest.com/permanent-residence-in-malta-en/.