Do you want to apply for a residence permit in the European Union for a profitable investment? Then, pay attention to sunny Portugal. Below we will tell you about the Golden Visa in Portugal by Investment and its alternatives: Green Visa, D7, and D2.
Why Portugal?
Portugal has several distinct advantages over other European countries. There are some tax incentives for investors. In recent years, Portugal has been showing stable and sustained economic growth. Medicine and education are well developed here. Besides, having a Portuguese passport or residence permit, you can visit all countries of the Schengen zone without a visa (and in total, it opens unhindered entry to 185 countries of the world). This passport is ranked 5th in the world passport ranking.
About Golden Visa program in Portugal
Acquisition of a residence permit through the purchase of the real estate. In terms of one applicant, the minimum investment threshold is 500 thousand, 350 thousand, or 280 thousand dollars. It all depends on the age of the property, as well as on its location (popular or provincial regions).
- Investments in a local business, or the purchase of its share for € 1 million or more.
- Development of your own, new business plan, and the creation of additional jobs.
- Financial equity participation in local shares and funds – from € 350 thousand
- Non-returnable investments in Portuguese cultural sites or foundations – at least € 350,000
The choice of options for obtaining an investor visa is quite diverse, but they all involve a solid financial investment on the part of the investor. It is allowed to return them no earlier than after 5 years, and even then this is not possible in all cases.
You have the right to live in Portugal permanently or spend only 7 days a year there, this will allow you to maintain tax residency in another country.
To obtain a residence permit, you must personally be present in Portugal, submit your biometric data and pass interviews with SEF.
However, you can move to live in Portugal using other visas. At first, this will be a temporary status, which, however, can be turned into permanent residence over the years.
Alternatives to the Golden Visa
Portugal has three cheaper alternatives to the Golden Visa. These are Green Visa, D7 visa (passive income), and D2 visa (entrepreneurship)
Green Visa
Many experts consider it to be another option for the Golden Visas. The decision to launch it was made by the country’s government in 2019. According to the conditions, the investor must invest at least € 500 thousand in various environmental facilities, or projects for the generation of renewable electricity in Portugal. And also the investor must finance and develop the field of ecotourism, organic farming – everything that can be attributed to the improvement and development of the ecology of Portuguese nature.
Read more about Green visa in Portugal
D7 – visa for persons with passive income
D7 Visa In high demand, like the Golden Visa. It is also called the “retirement visa”. However, everyone who has managed to confirm their financial independence can become its owners. To obtain a D7 Visa, you must:
- have their own or rented housing in Portugal, maintain it at their own expense;
- open a deposit at a local bank;
- show the Portuguese fiscal authorities that you have a permanent passive income of € 7,200 per year.
Having received a D7 visa, the applicant has the right to issue a temporary resident card also to his family members. At the same time, its adult members show a passive income of € 3,600 per year per person, and the applicant’s children – € 2,160 per year.
This visa allows its holders to work in Portugal. It is issued for a year and can be renewed twice, each time for 2 years. After five years, you can apply for permanent residence, and then citizenship (a scheme similar to the Golden Visa).
Another important note – unlike the Golden Visa, the D7 visa applicant is required to become a tax resident in Portugal, thus residing in the country for at least 6 months a year.
D2 – Business visa
A D2 visa is a good option for businessmen who do not have a source of stable passive income or remote work. The D2 visa is eligible for businessmen who plan to open a branch of their existing company in Portugal or start their representative office there to enter foreign markets.
- The amount of investment is minimal compared to the Golden Visa and other European business visas – the amount of investment must be at least 5 thousand euros. The visa requires the business to be a tax resident of Portugal.
- Requires you to reside in Portugal for most of the year (unless your business requires you to travel).
Outcome
We would like to emphasize that, according to local laws, if a foreigner has lived in Portugal for 5 years legally and without interruption, with the status of a residence permit, he has the right to apply for a permanent residence card with the subsequent registration of full citizenship.
