Their wandering minds and hearts cannot be contained and kept in one place, wanting to explore the world. Others even hope to be able to reside in a foreign country, out of their comfort zone, away from everything and everyone they know in hopes to be engulfed in a whole new culture.
Most of the time, these people are dreamers, and others just want a fresh new start in life. Either that or they are businessmen searching for a perfect place to invest in. However, residing or putting up a business in another country isn’t as easy as it seems. Some are fortunate enough to be handed the opportunity of being able to achieve this effortlessly whenever they wish on a silver platter. On the other hand, some are not lucky enough in the financial department to be given that luxury. Some have to work hard and earn enough money to even be able to save up for just the flight fare.
With this in mind, those who wish to invest somewhere should consider all the factors as well as the pros and cons so that their hard-earned money would not be put to waste. Someone who’s become or already is of high-net-worth must be able to choose the best country to invest in depending on their current circumstances as well as the advantages and benefits being offered. One of the most sought-after countries by investors nowadays is Portugal.
Portugal is one of the oldest southern European countries, famous for its beaches, food, and rich history as well as architectural heritage. This country boasts an abundant and diverse culture, Mediterranean climate, as well as a secure and solid setting which is ideal for bringing up families, managing business, and of course traveling. Investors find many opportunities in Portugal’s safe and rapidly growing market, including the following:
- Live and work in Portugal.
- Residence visa waiver for entering Portugal.
- Attain permanent residency or citizenship after five years of living as a temporary resident.
- Visa-free travel within the Schengen member states
- Inclusion of family members
How to Invest
You may still be wondering what more can invest in Portugal give you. You may opt to take a look at the Portugal golden visa program. The Golden Visa for Portugal is a desired visa by wealthy investors for it offers a wide range of benefits, these include:
- You can include the following family members on the visa with you:
- Your spouse
- Dependent parents of either yourself or your spouse
- Dependent adult children who are full-time students (up to age 26)
- Family members under the age of 18
- Any other dependents such as minor siblings
- You and your family members will be able to enjoy visa-free travel to the Schengen Zone countries for up to 90 days in any 180-day period.
- You only need to stay for a week annually to renew your visa.
- You and your family members can live in Portugal and have access to its healthcare and education if you choose to.
- After 5 years, you can apply for a Portugal passport. Since Portugal is part of the EU, a Portuguese passport will be able to provide access to the EU free market, including the freedom to travel to more than a hundred countries around the globe.
The Portugal Golden Visa is a residence visa issued to non-EU nationals who have made a significant investment in Portugal. These investments may be by purchasing real estate, making a capital investment, or creating employment opportunities. To be eligible for a Golden Visa, you must be able to fulfill the following requirements:
- Your age must be over 18
- A significant investment beneficial to the Portuguese economy must be made
- No history of criminal records
- You must own the money you seek to invest
- Commit to maintaining the investment for at least another five years
To be eligible for a Golden Visa in Portugal, one of the following investments must be made:
- Purchase a property with no less than €500,000 worth
- At least €1 million capital transfer in a Portuguese bank account
- Acquire at least €1 million worth of company shares
- Invest at least €1 million in a company
- Produce at least ten jobs for Portuguese nationals
- A capital transfer to support the arts or reconstruction of the national heritage of at least €250,000
- A capital transfer for research activities in science or technology by scientific research institutions, either public or private, of at least €350,000.
- Invest €350,000 in a property located in a Portuguese urban regeneration area. Make sure that the project qualifies for investment by the Portuguese Immigration and Borders Service before investing.
How to Apply
There’s a series of steps to be followed and accomplished to be eligible and acquire a Golden Visa. These are:
- Apply for a Portugal Golden Visa at the Portuguese Immigration and Borders Service (SEF).
- Register with the ARI Portal, which is the SEF’s online portal for handling the Golden Visa Application. You can register yourself or if you simply do not have the time, a legal representative may do it on your behalf.
- Attach soft copies of the required documents
- Pay for all the appropriate fees
- Wait for the SEF’s confirmation.
- Schedule an appointment at a local branch of the SEF for you to submit your Golden Visa application
- If you cannot or simply do not wish to apply in-person, you can get yourself a legal representative to apply on your behalf. This application will be accepted by the Portuguese authorities as well.
- The investment must already be performed before you apply for you must submit proof of the investment made including the certainty that you intend to maintain it for at least five years.
Be sure to have all the required documents necessary prepared and compiled for submission, including the essential papers that serve as your proof of the investment you have made. If you think about it, investing in Portugal is a great way of transacting a win-win give and take between you and the country. The investment is quite sufficient for what you will be receiving back as well. In addition to that, the application process is much easier compared to others. Both you and Portugal’s advancement acquire benefits in the process.