What is Portugal's Golden Visa
The Portugal Golden Visa or sometimes known by its official name ARI (Autorização Residência para Atividade de Investimento) is an economic strategy that aims to attract foreign investments to countries facing economic challenges, particularly those resulting from global crises. The Programme was initially proposed by the International Monetary Fund (IMF) in 2008 as a tool to strengthen and revitalize struggling economies and had a positive impact on the real estate market due to the diverse range of properties offered in Portugal. In Portugal since 2012, the Programme was created as a way of enabling non-EU citizens the right to gain a residency permit in exchange for a 6-year real estate investment. During its more than 10 years of activity in Portugal, the Golden Visa helped people live and work in the country and has added over seven billion euros to Portugal's economy since its launch.
The Portuguese Golden Visa became one of the most popular residence-by-investment Programmes in the world because of the affordable property prices (one of the lowest of all EU capitals), together with Portugal's appealing living conditions, being one of the safest countries in the world, with a high quality of life and one of the best public health care systems in the world.
Those who gain access to Portugal's residence through the Golden Visa Programme only need to spend a minimum period of 14 days in the country, consecutively or intermittently, within each 2-year visa period, still keeping all the benefits of being an EU resident. The advantages of the Programme include visa-free unlimited travel within the Schengen Zone, and the option to live, work and study in Portugal.
Portugal is a southern European country located at the South-Western tip of Europe bordering Spain. It is popular for its landscape diversity, magnificent coastline, beaches, and warm climate. The location of Portugal has isolated it from its neighbours which have created a uniquely rich culture that attracts tourists and investors from all over the world.
As a recognized economic international hub, it is one of the European countries that have successfully improved their taxation and investment policies over the past few years to attract foreign direct investment to get the country back on its feet after the financial crisis.
Since the year 2018, The latest amendments and reforms to the citizenship and residency laws have made Portugal increasingly become one of the major residence destinations for foreigners across the world as the latest figures in the Immigration Frontiers and Asylum report (RIFA) have shown, one of the major changes was the amendment to the Nationality Law on July 2018, which reduced the required legal residence for foreigners to be able to apply for the Portuguese citizenship from 6 to 5 years.
The Golden Visa scheme which started in the year 2012 enables non-EU individuals and their eligible family members to obtain the right to reside in Portugal for up to five years, which can lead to Portuguese citizenship, it is one of the most recognized residency programs across Europe and the world as the Portuguese government has granted more than 12,000 Visas and over 20,000 dependent family members have accompanied them
There are many key advantages and benefits that investors will enjoy once they decide to invest in Portugal, as it is one of the most secure countries in the world, with a stellar reputation in the areas of human development, economy and quality of life. Moving to this developing multicultural country will for sure bring you future financial and economic benefits due to the attractive tax regime and the ability to obtain the European Citizenship through one of the most flexible and financially lucrative residency programs across the world.
Visa-free entry to Portugal and/or travel through Europe (Schengen Area).
Potential to live and work in Portugal, even with residency in a different country.
Family members can gain Portuguese residency.
Compared to other residency/citizenship programs, there are extremely low minimum stay periods.
Permanent residency can be obtained after five years.
Portuguese citizenship can be obtained after six years.
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As some of you may be aware there is ongoing government changes to the Golden Visa and has been a lot of media speculation, but after eight months of delays and debates, finally the new laws have come into effect here in Portugal and we’re pleased to say the Golden Visa program continues, albeit with a higher minimum investment level of 500,000 EUR, from 280,000 EUR and minus the option of property investment.
Having now had time to review the new rules, we’ll be launching our new fund range next week. I’m excited to announce that ourselves here at Holborn Assets will be the only company, in the world, to have access to an investment fund that enables investors to quality for the golden visa with 400,000 EUR.
It will pay an upfront return of more than 100,000 EUR, significantly reducing the capital required along with a guaranteed buyback of 500,000 EUR with asset backed security of capital. Further details are to be confirmed once launched, but already we can see a large demand for this lower investment level, from the response we’ve had so far. Please let me know if you would like to be notified when this becomes available.
Despite the changes in law, it gives me great pleasure knowing that that Holborn Assets will continue to be the No.1 provider for the Portugal Golden Visa. Furthermore, we continue to maintain our 100% success rate, with over 2000 applications.
For more information, or just a chat on all the latest developments, please click on the link below for a free consultation.