Main Benefits of Portugal Golden Visa
Whether you wish to relocate to Portugal or simply enjoy easy access across the EU, there are lots of benefits of gaining a golden visa.
When you apply for the Portugal golden residence permit, you can also add your spouse, children under 18 years of age, and any dependant family members to your application. This lets you and your partner work freely in Portugal as well as across the schengen area with no travel restrictions.
Also, your children would also be able to attend Portugal’s most prestigious schools and universities. In short, gaining residency in Portugal has real potential to unlock new possibilities for your future.
With Portugal situated on Europe’s West coast, Lisbon is fast becoming known as “the California of Europe” thanks to its booming real estate market, a sharp rise in foreign business start-ups, as well as its favourable year-round weather.
According to A Place in the Sun’s ‘10 Best Places to Buy Abroad in 2017’ index, Lisbon currently ranks at number three. In addition to the potential investment returns, the capital is considered one of Europe’s friendliest and most welcoming cities, according to expats. Add in glorious weather with average highs of 15°C even in December and January, as well as above average political stability and security, and Portugal is a truly desirable destination.
It was only in 2012 that the law was changed in Portugal permitting houses to be rented at market value. It was largely down to this that housing prices in Lisbon increased by an impressive 30% between 2013 and 2016, according to Savills figures. Now, real estate in being snapped up rapidly; more than half the properties on the market sell within six months, with 20% even selling within just three months.
Under the Golden Visa Programme, there are no maximum stay requirements, but you are required to spend at least seven days in the first year and 14 days in each year thereafter, not necessarily consecutive, until you are granted permanent residency at the end of year 5. After year 5, there are no minimum or maximum stay requirements.
All your close family members, including your dependent adult children aged up to 25, can apply with you. Your family members can be your spouse (wife or husband), your dependent children aged up to 25, your parents and your dependent minor siblings.
If you choose property investment route, you can rent out the property you bought! Average rental income is between 4% and 8% of the value of the property. Most management companies provide three or five years guaranteed rental income.
As a Golden Visa holder, you will have all the benefits of the Schengen Visa. Your residence permit will allow you to travel in the 26 member states: Austria, Belgium, Czech Republic, Denmark, Estonia, Finland, France, Germany, Greece, Hungary, Iceland, Italy, Latvia, Lithuania, Luxembourg, Malta, the Netherlands, Norway, Poland, Portugal, Slovakia, Slovenia, Spain, Sweden, Switzerland and Liechtenstein.
One of the most attractive benefits of the Portuguese Golden Visa is that you have the option to apply for permanent residency after five years and citizenship after six years of residency in Portugal.