You can qualify for residency by investing €280,000 which is one of the lowest investment thresholds in Europe,
You don’t have to move to Portugal to keep your residence permit. Staying in the country for seven days on average per year will suffice,
You can be eligible to apply for Portuguese citizenship in five years. This is one of the quickest in Europe,
Once you become a Portuguese citizen, you get visa-free access to 188 countries.
Travel And Visa- Free Countries
The Golden Visa permit registers you in the Schengen Area central system. So, you can freely travel within Europe without an additional visa.
At the end of five years, if you decide to get Portuguese citizenship, you can get a Portuguese passport. The Portuguese passport allows you to travel to 188 countries without the need for a visa and ranks 6th among all passports, as of 2021.
Living, Working, and Studying
The Portuguese Golden Visa allows you to live, work, and study in Portugal.
If you decide to live in Portugal full-time with this permit, then you will be required to have medical insurance. You will, however, have full access to all public services including healthcare and education.
State schools follow the Portuguese curriculum, though there are numerous private British and American international schools.
The work permit allows you to work anywhere, as well as start and run your own business in Portugal.
As the main applicant, you may extend the Golden Visa to your family members. The application process is simultaneous for the main applicant and the dependents.
Following members of the family are eligible to apply along with the main applicant:
Children under the age of 18,
Dependent children under the age of 26, provided that they are full-time students and not married,
Parents of the main applicant, if over the age of 65 years old.
Citizenship and Passport
You may apply for citizenship after five years of holding a Golden Visa in Portugal.
In order to qualify for citizenship, you must have:
No outstanding tax payments in Portugal,
Clean criminal records from Portugal and from your home country,
Entered and passed a basic language test in Portuguese.
Later in the article, we will touch on the specifics of the Portuguese language test.
The Golden Visa program will not bring any tax responsibility to you unless you spend more than 183 days of the year in Portugal. In case you do, then you become a tax resident in Portugal.
Portugal has a favorable tax regime for foreigners who consider relocating to Portugal and become tax residents. Through the non-habitual residency (NHR) program, the country offers certain exemptions from income tax for the first ten years of residence. The program slightly changed in 2020, exempting foreign pensioners from getting tax breaks on their pension income.
As a Golden Visa applicant, you have the right to live and work in Portugal, but there is no requirement to do so. The country offers a favorable tax regime if you decide to relocate to Portugal. With your Golden Visa, you can enjoy free travel within the European Schengen visa zone. After holding a Golden Visa for five years, you can apply for citizenship or permanent residency in Portugal, leading to a passport. The Portuguese passport allows you to live, work, study anywhere within the European Union.