The only EU residency program that requires the applicant to live in the country for just one week in a year, the Portugal Golden Visa Permit is a practical option for those looking for a path to EU residency and citizenship, but are not yet ready to relocate. Portugal scores as the 12th most globalized country in the world according to the KOF Globalization Index in 2016. Steeped in history and culture combined with world-class beaches it offers exceptional infrastructure and a stable political and investment environment.
The Golden Residence Permit grants residency for 5 years: it has to be renewed after the first year and then after subsequent two year periods. A minimum stay of seven days is required during the first year and 14 days during the two year periods. At the end of 5 years, the applicant may apply for a permanent residence card and one year after that apply for Portuguese citizenship.
Applicants can apply for the Golden Residence Permit- that is the Golden Visa by investing in a property for a total value of equal or above Euro 500,000, or, investment in a property for a total value equal to or above Euro 350,000 if the property is more than 30 years old or located in urban regeneration areas designated for refurbishing. Property rights can be held for life or sold after 5 years once permanent residence is established. The property can be rented out to generate an income. ActiveAvenues offers real estate investment options at the lower investment amount with: guaranteed annual rental return, easy and flexible exit strategy, funds return guarantee after 5 years and 7 days accommodation per year.
Up to 3 family generations can migrate with one application through the Portugal investment visa which would cover: applicant, spouse, children under 18 years of age and unmarried children over 18 years of age, who are financially dependent on the main applicant, dependent parents of the applicant or of their spouse and minor siblings under the custody of the applicant. Golden Residence Permit grants the right to live and work in Portugal and visa-free travel within the Schengen member states. After naturalization, citizens of Portugal may travel live and work anywhere in the EU and travel visa-free to around 170 countries, including Canada, the United States, the European Union and the UK.
Applicants of the Golden Visa Permit will also have access to Portugal’s attractive holding company regime and an extensive network of double tax treaties. In addition, it offers the Non-Habitual Residence Regime offering benefits to individuals moving to Portugal. The incentives include a reduced tax rate of 20 percent on Portuguese source income from designated professional activities and a tax exemption on a wide variety of foreign source income, including pensions, interest, dividends, royalties, as well as income from overseas professional activities, subject to certain conditions. To be tax resident, the individual has to remain in Portugal for 183 days in the tax year, or alternatively, on or by 31st December of the tax year, they must hold a dwelling with the intent to use it as a permanent residence.