Applying for Portugal Golden Visa in 2021: Latest Rules and Regulations

May 17, 2021

Portugal Residency Program, also known as Portugal Golden Visa is one of the most popular residency programs in the world. As the Portuguese government decided to make some changes to the program and changed the application process due to Covid-19, our team of immigration experts decided to prepare an overview of the latest rules and regulations. Find out what you need to know to apply for Portugal Golden Visa in 2021 below.

At the moment, the government of Portugal decided to digitalize the whole visa application process, which makes the application faster and more convenient. Besides, this gives the program advantage over other European programs.

What are the main changes to the program?

From 1st January 2022:

  • The capital investment/deposit category: Minimum investment requirement will rise from the current EUR 1 million to EUR 1.5 million;
  • The investment fund category: Minimum investment requirement will rise from the current EUR 350,000 to EUR 500,000;
  • The property investment category: Minimum investment requirement will remain unchanged at EUR 500,000 and EUR 350,000 (renovation properties) but qualifying for the golden visa through these options will be limited to the country’s interior as well as the autonomous regions of the Azores and Madeira;
  • The job creation category: The minimum capital required for incorporation/capital injection in an existing company that then must proceed to create five new job positions sustained for a consecutive three years will rise from the current EUR 350,000 to EUR 500,000;
  • The Science and Research Activities category: Minimum investment requirements will rise from the current EUR 350,000 to EUR 500,000.

About Portugal Golden Visa

The Portuguese Residence Permit Program or Portugal Golden Visa, grants the right to live, work and study in Portugal, with visa-free access within the EU countries. The program investment options include creation of at least 10 jobs via investing into business; investment of €1,000,000 or purchase of real estate within a range of €280,000 – €500,000, depending on where it was built.

Portugal boasts an excellent reputation and is considered one of the world’s most globalised and peaceful nations. The country offers high quality of life and one of the highest Human Development Index ranking. Portugal is among the oldest nations in Europe and country offers rich history, exceptional local cuisine, lively culture, stunning rocks and beaches, and peaceful countryside.

The Portugal Golden Visa Residence Program, requires at least four trips to Portugal during the five-year period: 2 should be done at the initial application (to choose the qualifying investment option and to start the legal process and at each renewal (year 1 and year 3). Alos, the family reunification is possible at any stage of the program.

Program benefits

Portugal residency by investment program grants the applicant a 5-year residency permit and let’s apply for permanent residence and citizenship after this period. The Program requires only 7 days a year visit to Portugal in a 1 year and 14 days visit during each subsequent 2 years to keep the permit. Portugal residency allows the whole family to travel without a visa to all Schengen Zone countries and gives access to high-standard education.

The Key Benefits of Portugal Non-Habitual Tax Resident Regime

Possibility to earn income on your overseas wealth – tax-free, or at a preferential rate of tax.

Dispose of your overseas assets tax efficiently or using tax exemptions.

Protection and growth of overseas wealth in a tax-efficient/tax free white listed jurisdiction.

Opportunity to pass on your wealth without inheritance or gift taxes (including to the family members like children and/or spouse).

Possibility to enjoy retirement without tax on the overseas pension.

Flat rate of tax of 20% on the salary received in Portugal.

 

Current Qualifying Investment Options

Property investment from €280,000

  •  €500,000 – purchase residential or commercial real estate (€400,000 – the reduced rate of 20% applied when purchasing a real estate located in low GDP or low populated density areas).
  •  €350,000 – purchase residential or commercial real estate over 30 years old requiring renovation. (€280,000 – a reduced rate of 20% applied when purchasing a real estate located in low GDP or low populated density)

Creation of 10 Jobs or Business Investment

  •  Create a minimum of 10 new jobs OR
  •  Invest a minimum of €350,000 in business and create a minimum of 5 permanent jobs
  1. Capital Transfer From €1,000,000
  •  Applicants are required to make a capital investment into specifically approved investment options or Portuguese bank account.

LONDON BASED SOLUTIONS ADVISERS – Portugal Residency

Full Support with our Immigration Advisers & Property Consultants:

Property search based on your requirements (from residential properties to high-value luxury developments)

  • Property virtual tours, 3-D tours, and in-person tours available.
  • Due diligence checks and additional property checks completed by our experts.
  • Residency & Citizenship document preparation and submission.
  • Full support until you receive your second passport & residency.

Mann’s Solutions is an international immigration law firm with offices in London, Hong Kong, and Moscow and has expertise in offering UK Visas and Immigration by Investment services to high net worth individuals. Our immigration advisers are regulated by OISC and IMC (Investment Migration Council).

For further information or to discuss your circumstances in a private consultation with our immigration lawyers in London Office, please contact us at enquiries@manns-solutions.com or call +44 207 993 63 46.