Portugal travel objectives, real estate options and Visa for Europe? Why live and invest in Portugal ? Because is one of the major touristic attractions of Europe and the perfect retirement home! How do I get a Golden Visa for Portugal? Who is eligible for Golden Visa? Only Non-European Union Nationals can apply for a Golden Visa. EU nationals are not admitted to the Portugal investor visa program. The investment must be maintained for 5 years. Investors must stay in Portugal for at least 7 days in the first years, and at least 14 days in the subsequent 2 years. That’s a super and unique advantage for investors living in insecure and unstable countries.
Will the changes impact existing investments? Existing investors will be “grandfathered” into the old rules. However, there are two uncertainties: What the cutoff date will be for being granted the Golden Visa according to the old rules. What stage of the process you need to have reached when the cutoff date comes around. Regarding the cutoff date, even the end of the year (December 31, 2020) now seem unlikely. My guess would be late 2021, but it could be sooner or the rule change may be permanently changed. Your residence card will allow you to travel freely within the Schengen countries (you also need to bring your passport), without applying for any visas.
In order to be eligible for the scheme you must conduct an investment activity either as an individual or a company set up in Portugal or another EU Member State, meet the time requirements above and do one of the following: Purchase real estate property with a value of at least 500,000€ (five hundred thousand euros) or 400,000€ (four hundred thousand euros) for the Algarve as it is classed as a low-density area. See more info on Get a 2nd passport with a golden visa in Portugal.
While the program has benefited more than 6,500 foreign investors so far, it has also been beneficial for the Portuguese economy. As of this writing, the total investment into Portugal as a direct result of the program has reached a whooping €4,851,321,701. That’s almost five billion euros. That’s great news for prospective investors, as the program has broad support from nearly all political parties in Portugal. While a conservative government introduced the program in 2012, the current socialist coalition government has even expanded the program since seizing power at the end of 2015.
As well as being able to experience the Portuguese lifestyle for yourself, the Golden Visa scheme will also provide you and your family with the opportunity to explore the rest of Europe and discover all that it has to offer. Those enrolled in the scheme will benefit from the following: Low minimum stay periods (7 or more days in first year and 14 or more days in subsequent years). After 5 years you will have the possibility of obtaining permanent residency or citizenship and a Portuguese passport. Read additional details at this website.