Portugal Golden Visa (Types of Investments, Requirements, Advantages)
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00:00 Intro
00:50 Portugal Golden visa
-What is it? Who Should Consider it? (EU or non-EU citizens)
--The Portugal Golden Visa is for non-EU citizens who want to invest and live in Portugal. If you are an EU citizen, you can just come and reside in Portugal.
-Requirements
--Clean criminal record, non-EU citizenship.
-Financial Requirements
01:47 -Types of eligible investments
-1.5 million eur transferred to a Portuguese bank. This is most expensive option, but also the most hassle free option, since your money deposit is highly liquid and not tied to a fund or one or more properties. It used to be 1 million, but for 2022 it jumped to 1.5 million EUR.
--The second and most popular option so far is buying property to the sum of 500k euros. That is the same amount as previously. But here we have a huge difference. Properties in Lisbon, Porto and most of the Algarve do not count towards your golden visa in Portugal. So if you want to go with this option, you will have to get a property in the inner parts of Portugal or on the Portuguese islands like Azores and Madeira. You can still buy property in Lisbon for example, but you cannot use this as grounds to get your golden visa.
-If you go with the real estate route, in some cases you can get the investment down to 350k euros, if the property is older than 30 years. Then again, we also have the new rule, and Lisbon, Porto and most of the coastal areas of Portugal are not an option anymore.
Then there is the investment for scientific research, which was 350k and now is 500k.
And the same applies if you want to invest in a company with at least 5 employees, before 350k, now 500k.
There is also the option of investing, actually 250k in cultural or art projects related to Portuguese heritage.
And finally my favorite option, which is investing in a qualifying Portuguese fund. However, here the minimum jumped from 350k to 500k euro.
04:07 Pros and Cons Portuguese Golden Visa
Pros:
-Come and go as you please from Portugal (you can stay the whole year if you like) and 90 days in 180 days in any other Schengen area country.
-You can renew it by staying a minimum amount of time in Portugal (in the first year it is just 7 days, then after the second year a little longer but still not much)
-You can work while in Portugal in any activity without a work permit.
-You can actually get the Golden Visa and make of it a profitable investment, although that is quite difficult considering the fees and also considering the changes in 2022.
-It leads to permanent residency and citizenship in Portugal. If in the long term your plan is live in Portugal most of the time or to get Portuguese citizenship and live in any country of the EU, the Portugal golden visa is an excellent option.
Cons:
-It involves a significant investment that could be otherwise invested in other, more profitable business ideas.
-If you stay more than 6 months a year in Portugal you will become a tax resident. Taxes in Portugal are very high. You don’t need to do it though, to keep renewing the Golden visa. In Portugal this can be an advantage as you can apply for the permanent residence permit after 5 years even if you are not living all the time in Portugal as a golden visa holder.
06:35 Alternatives
-Alternatives to the Portuguese Golden Visa
--If you want to live in Portugal
---D7 Visa
---Business visa
If you want to spend more than 6 months a year in Portugal, there are much cheaper alternatives than the golden visa. They are especially a good option if you don’t want to invest a sizeable amount of money in one of the Golden Visa options
You will however, become a tax resident in Portugal if you spend more than 183 days per year in the country, and that is necessary to renew all kinds of residence permits in Portugal apart from the ones available in the Golden Visa category
--If you want to consider other countries
---Golden visa in other countries (Spain, Greece, Latvia)
---Non-lucrative visa in Spain
---Andorra (ultra low tax option) 400k.
