From January 2022, the changes the Portuguese government has made to the Golden Visa Portugal will become effective.

There are three ways by which an investor can avail of the Portugal Golden Visa:

  • An investor can make an outright purchase of real estate property whether for private or commercial purposes.
  • An investor can invest capital into the Portuguese economy.
  • An investor can start a company that will employ Portuguese nationals for at least three years

How will these changes affect the Golden Visa Portugal program from January 22?

Investment in Real Estate

The Portuguese government would like to transfer the focus of real estate investments from the high-density areas like Lisbon, Porto, the Algrave, and the high density coastal towns like Setubal and the Silver coast to low-density areas like the Azores, Madeira and the cities and towns in the interior of Portugal.

Fortunately, there are no changes in the amount required for property investments.

  • €280,000 for existing properties requiring renovation in low density areas
  • €350,000 for existing properties located in urban re-generation areas
  • €500,00 for all other properties in Portugal

Capital Investment

  • The present capital transfer of at least € 1million has been increased to €1.5 million.
  • The present amount of €350,000 into private equity or venture capital funds providing capital to specified companies has been increased to €500,000.
  • The present €350,000 investment in companies that are scientific or technological in nature has been increased to €500,000
  • The present €350,000 business investment in the form of either the purchase of shares in a Portuguese company or setting up a company has been increased to €500,000 and must generate at least five permanent jobs for at least three years.

What you should do now about investments and the Golden Visa Portugal

As highly experienced professionals in this field, Orience International would like to help you choose the investment that is best for you and recommend the following points to consider before the changes take effect.

Here are four essential things that need to be considered when making a decision on investing in real estate for obtain the Golden Visa Portugal:

  1. Location

Choose a property in a city or area that has an outstanding appreciation rate or that has the potential to increase in value.

  1. Project

Choose a real estate project that is located in an excellent area and that is masterfully designed.

  1. Return on Investment

Aside the Golden Visa Portugal, you would like a respectable return on investment. Porto, for example experienced a 6.77% increase in value higher than the country’s average and 0.75% higher than the increase in Lisbon.

  1. The Right Partner

To achieve a respectable return on investment by choosing the right property, the right partner is necessary to not only help you make the right decisions for your personal situation but also give you peace of mind.

At Orience International, we put our client first and will put ten years of experience in this business to make sure that your investment is managed properly and in the best manner possible by well-educated and trained professionals. We will be with you from the beginning when choosing the property that is right for you, help you with all the necessary forms and documentation, to managing your property for you if you so wish, up to eventually selling the property if you so desire.

We will also help you apply for the Golden Visa Portugal in the fastest and most convenient way possible. Our success rate is one hundred percent as proven by clients who have assured us that they would choose us again or recommend our services to their relatives and friends.

 

For those looking to open a business in Europe, expand their business in Europe, or want to send their children to school in Europe then a second citizenship is the best option for you.  A Portuguese citizenship is now easily available through the Portugal Golden Visa or Portugal citizenship by Investment Program.

A Portuguese passport allows the holder free movement meaning that one can live, work, and study in Portugal and anywhere else within the European Union, European Economic Area, Switzerland and the United Kingdom and can travel visa-free to 186 countries.

Portugal Golden Visa investment opportunities

The Portugal Golden Visa is an investor’s residence permit and is the most successful citizenship by investment program in Europe and in the world as the Portuguese government encourages varied investments in real estate, capital investments and business investments that will create employment opportunities.

Investment Opportunities in Real Estate

The Portugal Golden Visa real estate option is perhaps the most popular way to get residency in Portugal. This is because Portugal is seen as a prime destination among property investors, with a flourishing real estate market, high rental yields, and a booming tourism industry.

The Portuguese real estate market is diverse and cheaper in comparison to the other countries in Western Europe and has many low-density real estate options that are highly encouraged by the Portuguese government.  For example, an investment of at least €400,000.00 in an urban regeneration area is highly feasible. The stable and dynamic Portuguese economy that is fueled by the continuous growth in the tourism sector has led to a rise in the profitability of short and long term rentals.

Capital Investments

Portuguese capital investments are regulated by the Portuguese Securities Market Commission and promise a high return on investments. These include venture capital investments in real estate, start-up technology companies, energy and industry. A capital transfer of at least €1,000,000 to a Portuguese bank is the first step towards a Portuguese residency visa that may be invested in private equity funds or Portugal Golden Visa venture capital funds.

Other investment options are the investment of at least €350,000 for the creation of a commercial company or for research in science and technology in public or private scientific research institutes.

Capital transfers of at least €250,000 to support Portuguese arts or for the reconstruction of important national heritage are also possible.

Creating Employment Opportunities

Business investment options that the Portuguese government encourages is setting up a business that will provide at least ten Portuguese nationals with a full-time job like for example investing €1,000,000 in a Portuguese company or reinforcing the share capital of a company with at least a purchase €1,000,000 worth of shares that will create at least five full-time jobs for Portuguese nationals.

Portugal Golden Visa tax benefits

Portugal’s Golden Visa income tax benefits are a big draw for foreign investors looking to get the most out of their financial contribution. Visa holders don’t need to pay extra taxes on income produced outside of Portugal.

There’s also an option to register as a fiscal resident for tax purposes in Portugal. This is a fantastic option as it’ll allow you to then directly benefit from Portugal’s Non-Habitual Tax (NHR) Regime. NHR is a generous tax program with numerous benefits pertaining to your global income. It offers tax-free incentives on certain categories for a period of up to ten years.

Additionally, any Portuguese-sourced income would be taxed at a flat rate of 20% during the first ten years and there is also the option to pass on your wealth to a spouse or dependent without incurring inheritance or gift taxes.

For those looking to invest in a second passport without giving up your citizenship or for businesses looking to set up European Union operations, a Portuguese passport is now easily available through the Portugal Golden Visa or Portugal Passport by Investment Program.

Why Portugal? 

Portugal lies on the Atlantic coast of the Iberian Peninsula in Southwestern Europe and hugs 832 kilometers stretch of the Atlantic coastline. It enjoys sunny weather for most of the year and boasts of excellent fresh produce and a delectable cuisine of mostly seafood like sardines and cod fish. It is an excellent option for expat families as they can avail of quality education, easy access to healthcare and an overall high quality of life.

Advantages of a Portuguese passport  

A Portuguese passport allows the holder free movement meaning that one can live, work, and study in Portugal and anywhere else within the European Union, European Economic Area, Switzerland and the United Kingdom.

A Portuguese passport holder can travel visa-free to 186 countries.  

Citizenship

  1. Portugal recognizes dual citizenship and requires only 35 days over 5 years residency in Portugal.
  2. Investors do not need to relocate in order to obtain citizenship.
  3. There are multiple investment routes leading to Portuguese citizenship.

Portugal Golden Visa investment opportunities

The Portugal Golden Visa is the most successful residency program in Europe and is the most popular investment immigration program in the world.  This is because of the following:

  1. There are many low-density investment options in comparison to other countries in Western Europe. There are many diverse and cheaper real estate market in comparison to the other countries in Western Europe.
  2. Portuguese investments promise a high return on investments. This is due to a stable and dynamic economy that is fueled by a continuous growth in the tourism sector that has led to a rise in the profitability of short and long term rentals.
  3. Portugal offers very generous tax incentives that include tax reductions or total exemptions over a ten year period.

Portugal Golden Visa real estate option

The Portugal Golden Visa real estate option is perhaps the most popular way to get residency in Portugal. This is because Portugal is seen as a prime destination among property investors, with a flourishing real estate market, high rental yields, and booming tourism industry.

Many expats buy properties in Portugal for tourism purposes, or to serve as a second home or a retirement destination. You can invest in newly-built properties in thriving Lisbon or Porto starting from €500k, or invest in used property for the Portugal Golden Visa starting from €400K.

The most economical investment route for the scheme is to make a €280K investment in the rehabilitation of real estate in low-density areas. The Portugal Golden Visa property for sale must at least be more than thirty years old and undergoing renovation.

Portugal Golden Visa investment fund

Investing in private equity funds or Portugal Golden Visa venture capital funds is a good option for acquiring residency in Portugal. The funds are managed by accredited fund managers who are accredited by Portugal’s regulatory body, the CMVM. Your dedicated fund manager ensures that the Portugal Golden Visa fund investments are appropriately managed in start-ups or medium-sized projects with optimal growth potential.

For the Portugal Golden Visa qualified investment fund, you can choose from sectors like energy, industry, technology, and real estate.

Portugal Golden Visa tax benefits

Portugal’s Golden Visa income tax benefits are a big draw for foreign investors looking to get the most out of their financial contribution. Visa holders don’t need to pay extra taxes on income produced outside of Portugal.

There’s also an option to register as a fiscal resident for tax purposes in Portugal. This is a fantastic option as it’ll allow you to then directly benefit from Portugal’s Non-Habitual Tax (NHR) Regime. NHR is a generous tax program with numerous benefits pertaining to your global income. It offers tax-free incentives on certain categories for a period of up to ten years.

Additionally, any Portuguese-sourced income would be taxed at a flat rate of 20% during the first ten years and there is also the ability to pass on your wealth to a spouse or dependent without incurring inheritance or gift taxes.

Speak to one of our Portugal Golden Visa Consultants so we can understand your objectives and help you move forward.   We have an experienced, hands-on team, who help clients from around the world acquire Portugal Golden Visas or homes, while diversifying their portfolio with safe and robust investments.

 

The investment visa in Portugal, also known as Golden Visa, offers foreign entrepreneurs the opportunity to acquire a residency permit through the investment of a minimum amount on a Portugal real estate, as well as the chance to benefit from the advantages of living in Portugal, where there is the perfect Mediterranean weather, and the cost of living is low. With this investment visa in Portugal, the non-European investors and their families have the right to live, work and study in the country with tax advantages for their purchased property, as well as the chance to have a better quality of life.

The investment Visa

The Golden Visa Portugal was approved in 2012 and has benefited Portugal’s economy. An estimated amount of six billion euros have been invested in the country, which greatly emphasizes the importance of foreign entrepreneurs that invest in Portugal. The affordable prices in real estate makes Portugal the target location for investors to establish a business that has a great potential.

In fact, the sale of properties for investment increased by 23% in May of 2020, during the first months of confinement due to the pandemic, surpassing the €146 million.

Benefits of the Golden Visa Portugal

The investment visa in Portugal gives foreign entrepreneurs the chance to live in one of the top safest countries in the world that offers access to 2 of the 10 best European universities, ensuring the best quality in health services and in international education. A great quality of life can be achieved without giving up on certain luxuries, such as dining in high-rated restaurants for an affordable price compared to other European countries.

Additionally, Portugal is home to a large community of international entrepreneurs from around the globe, turning the capital of the country, Lisbon, into the center of a huge digital and tech startup melting pot for entrepreneurs to share their knowledge and develop their businesses.

Who can request it

The investment visa in Portugal is available for all non-European real estate investors and their respective family members that invest a minimum of €280,000 in a property. Once the investment visa is granted, the permit holders will be eligible to reside in the country, travel freely within the Schengen area without the need of an additional visa, and after renewing the residence permit two times for every two years, by the end of year 5, they will have the opportunity to apply for the 7th most valuable passport in the world and obtain the Portuguese citizenship.

New updates of the Investment Visa in Portugal

However, the new updates for the investment visa in Portugal will encourage foreign investors to target other areas of the country with low population, rather than in the more popular cities, such as Lisbon, Porto, Braga and the Algarve. The update in the requirements for the Golden Visa Portugal, which will be effective in January 2022, will encourage investors to target the Autonomous Regions of the Azores and Madeira, among others, which will contribute to a more balanced environmental and social status of the country.

The best options to avail for an investment visa in Portugal are:

  • Investment fund of €280,000 – the property to be purchased must be a rehabilitation project (at least thirty years old and undergoing renovation) located in a low population density area, such as in the Autonomous Regions of the Azores and Madeira.
  • Investment fund of €350,000 – the acquired property must be at least 30 years old and in need of renovation. The investor can purchase the property located in urban areas, such as in Lisbon or Porto.
  • Investment fund of €500,000 or more – the investor can purchase a new, restored or old property in their preferred area of Portugal, perfect for foreigners that are looking for a second home or a retirement destination.

Nevertheless, the new update in the program will only allow the purchase of real estate in the interior territories or in the Autonomous Regions of Azores and Madeira until January 2022 for both the €350,000 and the €500,000 investment options.

Our team in Orience International will help you decide on the best investment option for you and your family, and will accompany you throughout the process.

 

The Portugal Golden Visa allows international entrepreneurs to widen their opportunities by investing in the huge digital and tech startup that Portugal offers. Furthermore, the country has a low cost of living, and ranks as one of the top safest countries in the world. The visa has different investment options, which will allow the applicant and their family members to get the residence permit, and then live, work or study in Portugal.

Process to obtain the Portugal Golden Visa

The process time of the visa is 90 days; however, there are no requirements to live in Portugal in order to obtain the permit. Once you acquire your Portugal Golden Visa, you will be eligible to travel within the Schengen zone without the need of any additional visa. 

Benefits of living in Portugal

The main reason entrepreneurs from around the globe are considering acquiring the Portugal Golden Visa is because the country is known as Europe’s hottest real estate market. Foreign investors are eyeing on properties all over the country to turn into a rental business, or to move in, for the many benefits that come from living in the country.

Portugal offers its residents a low-cost comfortable lifestyle that includes luxuries such as having the chance to enjoy some of the best food in top restaurants of the country, which is an affordable experience compared to other countries in Europe.

Another important asset of living in the country is the marvelous weather the Mediterranean country has: perfect temperature and climate throughout the year. Hence, Portugal has become home to many international entrepreneurs that share their knowledge and develop their business in the country, making Portugal a growing startup hub, which India, a potential superpower country, is part of.

Options for the indian population to obtain the Portugal Golden Visa

The Portugal Golden Visa is the most popular for Indians that are reaching to invest in a foreign property. Asides from the ideal Mediterranen weather, growing community of international entrepreneurs, and the good quality of life, the Portugal Golden Visa will allow Indian families a safe location to reside.

Due to the situation that the on-going pandemic has created, holders of this golden visa can relocate anytime in the safest country in Europe during the COVID-19. The country implemented a safety protocol in accommodations, and public places such as restaurants and shops to ensure the prevention of the spread of the virus.

Indian entrepreneurs that decide to live in the Mediterranean country through the Golden Visa Portugal will easily adapt because Portuguese people are good English speakers, making business transactions and everyday conversations more comfortable. This makes meeting people and forming new circle of friends an easy task in Portugal, whereas you will also have the opportunity to practice the native language.

Portugal Golden Visa through an investment

Wealthy Indians that decide to acquire the Golden Visa Portugal will be eligible to live, work and study in the country through an investment.

The most affordable option is the investment of  €280,000 in a rehabilitation project in a low-density area, if the property is not located in a low-density area, the acquired property and the renovation works must be equal to or be greater than €350,000.

Nevertheless, the best investment option available for the Golden Visa Portugal is by investing €350,000 in an investment fund, which will grant the applicant and their family members to legally stay in the country, and benefit from the advantages of the golden visa.

In addition, Indians becoming residents of Portugal brings the Indian and Portuguese startup ecosystems closer to facilitate joint innovation between the two economies, creating collaborations between inventors, incubators and aspiring entrepreneurs for both countries that will enable growth in their business.

To apply for the Golden Visa Portugal, Indian investors must prepare the legal documents and submit the application for residence. Upon its approval and payment of the permit issue fee, the residence certificate will be released with a validity of one year.

New regulations about the Portugal Golden Visa have been implemented recently by the Portuguese government. The changes are about the requirements of real estate and the capital transfers investment. These updates will take effect on 1st January 2022. You can see these changes by clicking here.

Are you interested in the Golden Visa Portugal? Contact us

 

A big number of foreigners are choosing Portugal as their new home is increasing, thanks to obtaining the Golden Visa Portugal. The perfect Mediterranean weather combined with the low cost of living in the country attracts tourists from around the globe to turn a short-term vacation into a long-term stay through the Golden Visa Portugal

Portugal affords you a great quality of life without giving up on certain luxuries, for a full meal in a local restaurant you could spend less than €5, which is surprisingly low-priced compared to other countries, such as Australia, New Zealand, or the UK. Portugal is indeed the best choice for people that want to live in the part of Europe that offers an ideal Mediterranean lifestyle: warm summers and mild winters, splendid beaches, and spectacular gastronomy.

Why getting the Golden Visa Portugal is a good idea

Another reason why foreigners easily decide on moving to the country is for the lack of a language barrier – Portuguese people are good English speakers, which is an important factor to consider for expats to feel comfortable moving to a new place. This makes meeting new people and making friends with the locals an easier task than in other countries, plus you will have the opportunity to learn and practice your Portuguese with native speakers!

Additionally, there is a large community of international entrepreneurs from around the globe that are residing in the country, which has made the capital of the country, Lisbon, the center of a huge digital and tech startup melting pot for international entrepreneurs to share their knowledge and develop their business. Moreover, if you visit the airport frequently for work or leisure, the capital of Portugal, despite not being a major city in Europe, offers the perfect hub for bargain flights across the globe for an economical price.

The presence of different cultures within the country, especially in the food scene, allows foreigners living in Portugal to easily adapt to their new home. The local cuisine is known to be amazing, but it’s the fact that you can have some of the best Italian, Mexican, Japanese, Austrian and Nepalese food in the country that makes expats forget about their homesickness. Economical, multicultural, and delightful gastronomy is another reason why people decide to live in the Mediterranean country through the Golden Visa Portugal.

What the Portuguese residence offers you

Once you have decided that you want to move to the country, it will be an easier process if you are an EU citizen or a British national with a residence permit to live in Europe.

For entrepreneurs that are from outside the continent, the Golden Visa Portugal is one of the best routes to legally stay in the country. This visa will give you the right to work, live and study in the country through investment in real estate or other qualifying assets.

The recent changes in the requirements of this visa encourage foreign investors to target other areas of the country with a low population density, rather than in the more popular cities of Porto and Lisbon, to help the country gain a more balanced status between the urban cities and the remote areas, which have great development potential.

Furthermore, the Golden Visa Portugal will allow you to choose from a variety of schools with a high international standard educational system, which includes 2 of the 10 best universities in Europe. It will also allow you to travel to and from the countries within the Schengen Area without the need for an additional visa.

How to get the Golden Visa Portugal

The best investment option available to apply for this residency permit is by investing €350,000 in an investment fund, which will allow the applicant and their family members to legally stay in the country, and benefit from the advantages of being a permit holder.

If you are interested in applying to the Golden Visa Portugal, you must prepare the legal documents and submit the residence application. Upon approval and payment of the permit issue fee, the residence certificate will be released with a validity of one year. After 6 years, you will be eligible to apply for Portuguese citizenship.

Thinking of getting Portuguese residency? Contact us and let our team advise you!

New regulations about the Portugal Golden Visa have been implemented recently by the Portuguese government. The changes are about the requirements of real estate and the capital transfers investment. These updates will take effect on 1st January 2022.

Real state updates:

  • Investors will not be able to invest in areas with high-density population such as Lisbon, Porto, and the Algarve, as well as coastal towns like Setubal and the Silver Coast.
  • In inland territories or in the Autonomous Regions of the Azores and Madeira, only real estate investors will be eligible to acquire the Portugal Golden Visa if the housing properties are worth €280K and up (acquisition) than or equal to €350K (rehabilitation).

Capital transfers changes:

  • The requirement of the amount of the capital transfer will increase from 1 million euros to 1.5 million euros.
  • The minimum subscription requirement of the Investment Fund will increase from 350,000€ to 500,000€.
  • Will increase investment in research from 350,000€ to 500,000€.
  • Investment into an existing Portugal-registered business will increase from 350,000€ to 500,000€.

It has to be taken into account that applicants have until the end of 2021 to take advantage of the current Portugal Golden Visa scheme.

The suspended rules of the Golden Visa of Portugal will continue in 2022

Due to the COVID pandemic, the government’s new Portugal Golden Visa rules had been suspended in 2020. They are now scheduled to move forward again. In fact, legislative amendments to Portugal’s Golden Visa program will go into effect in January 2022, preventing investors from buying properties in the areas named above.

These changes of the Portugal Golden Visa are designed to drive investment in low-density locations of the country, relieving pressure from metropolitan areas and encouraging foreign investment in other areas of Portugal.

Portugal Golden Visa new rules: the property sector expected to be affected

Real estate professionals have expressed concern about the changes, as they can hurt the real estate market. Therefore, it was expected that the suspended changes of Portugal Golden Visa would not go ahead.

However, the Golden Visa new rules will help boost low-density areas and balance out the property market.

There are low density areas with high growth potential that offer excellent property locations for Portugal Golden Visa investors and their families. Some examples are Douro Valley, Aljezur and Peneda Gerês. For only €280K, individuals can invest in low-density areas renovation projects and become eligible for the Portugal Golden Visa Program.

Will the Portugal Golden Visa changes impact existing investment in Porto and Lisbon?

You will not be impacted by the Portugal Golden Visa updates if you are in the process of purchasing a property in a high-density town.

However, if you are interested in purchasing a property in Lisbon, Porto or the Algarve, now is the time to do so as changes, because the new rules will come into effect on the 1st of January 2022.

The rest of Golden Visa’s investment routes will not be affected by the updates and will remain available. If you are not particularly interested in investing in real estate, the Portugal investment fund golden visa is a very attractive investment route. You can become a Portuguese resident for a minimum investment of 350,000€.

Portuguese Golden Visa, acquisition process

To apply for the Portuguese Golden Visa, applicants must prepare their documents and submit their residence application. Upon approval and payment of the permit issue fee, the residence certificate will be released with a validity of one year. In order to successfully obtain the permit, applicants must stay in the country for at least 7 days during the first year, and 14 days in the two following years.

Once you have the Portuguese Golden Visa, you will have the option to later apply for Portuguese citizenship, wherein you will be a holder of one of the most valuable passports: the Portuguese passport.

Are you interested in the Golden Visa Portugal? Contact us

International investors that are interested in applying for the Golden Visa Portugal must be aware of the new updates in the program. As announced, the new restrictions of this program will disqualify buy real estate worth €500,000 in cities such as Lisbon and Porto which are highly populated, as well as investing in the coastline of the country, a restriction that the Portuguese government has enacted in order for potential buyers to invest in second tier cities and rural properties, rather than in the typical urban areas. These changes in investment options will help Portugal gain a more balanced environmental and social status. Consequently, many investors opt to buy real estate higher value properties in remote places, such as purchasing a luxury property in a low-density area such as Guimaraes, with just over a 50,000 population or in Evora, known to be the second ‘most livable’ city in Portugal.

The best cities to invest

  1. The city of Coimbra, in the center of Portugal, is one of the best alternatives for entrepreneurs to buy real estate, for its large population (140,000) and its proximity to Lisbon and Porto. Healthcare businesses, universities and its historic heritage makes this town a good choice to invest in real estate; a five-bedroom house in the suburbs of Coimbra would cost around €225,000.
  2. Another alternative is the city of Braga, a beautiful city near the mountains that is filled with baroque palaces and ancient Portuguese architecture. The price of the apartments in this zone starts around €100,000, but you can also acquire a fully restored residence with five bedrooms, a pool and a sala de armas for €2,000,000.

The best options to avail of the Golden Visa Portugal by investing in real estate are:

  • Investment of €280,000 in a rehabilitation project in a low-density area. The property to be purchased must be at least thirty years old and undergoing renovation. If the property is not located in a low-density area, the acquired property and the renovation works must equal to or be greater than €350,000.
  • Investment fund of €350,000. Entrepreneurs must invest in a start-up or medium-sized project under different sectors, namely real estate, technology or industry,  with great development potential as it will be handled by qualified experts, and the capital that is invested is tax-friendly.
  • Investment of €500,000 in real estate. The property can be new, restored or old as long as it is located within Portugal; perfect for investors that seek to use their property as a second home or a retirement destination. If they buy real estate that is located in a low-density area, the minimum investment amount will be reduced by 20%, bringing it to €400,000.

Nevertheless, the reason why international investors choose to acquire the Portuguese Golden Visa is for the benefits that come with this residence permit, which include the right of the applicant and family members to live, work and study in one of the high standard international schools that are in the country. Moreover, the Golden Visa Portugal will allow you to travel within the countries in the Schengen Area without the need of acquiring any additional visa. Portugal is known as one of the most peaceful countries in the world that offers a low-cost quality lifestyle and has a professional healthcare system.

The application process for the Golden Visa Portugal starts with the submission of the residence application along with the legal documents. Once approved, applicants must pay for the permit issue to acquire the residence certificate, which has a validity of one year. Afterwards, permit-holders along with their family members must stay in the country for at least 7 days during the first year, and 14 days in the following years. Once you are officially residing in the country, you may be eligible to apply for the Portuguese passport.

New regulations

New regulations about the Portugal Golden Visa have been implemented recently by the Portuguese government. The changes are about the requirements of real estate and the capital transfers investment. These updates will take effect on 1st January 2022.

You can know all the changes by clicking here

Are you interested in the Golden Visa Portugal? Contact us.

The exit of the United Kingdom from the EU politically and economically, has left British citizens residing in a European country wondering how it will affect them. According to the official website of the European Union, UK nationals, along with their family members, will have to apply for a new residence status. The new biometric residence card, which is similar to the residence cards that are issued to other non-EU nationals living in the EU, grants one access to the rights defined in the Withdrawal Agreement, wherein the cardholder and family members will be exempt from ETIAS and visa requirements when moving to the European country of choice. Here are the rules to be met by non-EU residents that opt to apply for the new residence card:

  • Reporting presence
  • Registering your residence abroad
  • Registering your EU family
  • Registering your non-EU family

In order to obtain the new card, you will have to ensure that you meet all the stated requirements, so you can keep using your current residence card until you get your new biometric residence card. Although it is not obligatory to get the new card, it is recommended.

Once you have updated your residency status and ensured that you have gathered all the required documents, you will continue to be allowed to live in the country you have been living in. Nevertheless, all the benefits you are entitled to while residing in the EU country have to be covered by the Withdrawal Agreement in order to be lawful. For expats that are planning to return to the UK, the right to live, work, and access benefits and services, such as healthcare in the UK or the right to vote, has not changed.

There are different options for British nationals to choose where to live in Europe after Brexit. For all the options, however, you will need to register as a resident in the country, register for healthcare, and exchange your UK driver’s license for one from the country. 

Living in Europe: best options

One of the best options is Greece, with its ideal climate and marvelous landscapes, wherein great business opportunities can be available within the 2,000 islands that the country has to offer. All UK nationals resident in Greece should get the new biometric residence document before the June 30, 2021 deadline, in order to retain the rights under the Withdrawal Agreement. The eligibility for residency depends on how long one has stayed in the country: for those residing for 5 or more years, they will be eligible for permanent residency and a 10-year renewable residency document; for those with less than 5 years residing, they will be eligible for a document with 5 years validity.

The request for documents depends on the location, where you will be instructed to visit the Aliens Department of your area. For example, those living in Attica and Thessaloniki will be visiting the nearest Hellenic Police station that has an Aliens Department.

Another place where British nationals can live in Europe after Brexit is Spain and Portugal. The biometric residence is needed to ensure your rights under the Withdrawal Agreement, regardless of how long one has lived in the country or is just planning to do so. If you have been registered as a resident before July 6, 2020, you will have a certificate that ensures your rights regardless if you choose to get the new biometric residence or not.

Different fees are also required to be paid in order to successfully acquire the biometric residence card and start living the European dream after leaving the UK. Furthermore, UK nationals that are seeking additional help to secure their rights under the Withdrawal Agreement can approach the UK nations Support Fund.

If you want more information about the European residence, we can help you.

Contact us

Portugal is in the process of updating its Golden Visa programs in 2021, as we had announced some months ago. The changes in the requirements of the Portuguese Golden Visa will encourage international investors to target other areas of the country with low population, rather than in the more popular cities of Porto and Lisbon. This will help the country gain a more balanced environmental and social status, as entrepreneurs must redirect their companies and funds to more remote places than in the typical urban cities. Nevertheless, international investors will still have the opportunity to benefit from this long-term plan, while experiencing the Mediterranean lifestyle in one of the safest countries in Europe.

The new deadline before international investors can acquire their Portuguese Golden Visa through investment in the metropolitan cities of the country is in March 2021; therefore, all the applicants that have submitted their residency permit petition before the end of 2020 are holding their breath for it to be released before the third month of 2021. The new restriction will fully affect investors that are planning to purchase property this year, as Portugal wants to spread the locations where international entrepreneurs are buying real estate.

These modifications in the Portuguese Golden Visa do not change its popularity among investors and their families that want to live, work and study in one of the most peaceful countries in the world. Portugal is consistently on top of the Annual Global Retirement Index for 2020 for its affordable lifestyle, high safety rating and the professional quality of healthcare; the main reasons international investors choose this country as their life plan despite the new restrictions. Aside from these advantages, the Portuguese Golden Visa will give you the right to work in the country, and choose from a variety of schools with a high standard international educational system, which includes 2 of the 10 best European universities. And as part of the Schengen Area, once you acquire the Portuguese Golden Visa, you can travel to the countries that are in the Schengen Zone without the need of another visa. Among the 26 countries that you could visit include Germany, the Netherlands and Finland.

However, the new restrictions in the Portuguese Golden Visa will not apply to the fund investment option or other investment options. Therefore, the investment fund option with a 350,000€ investment minimum remains the best opportunity for entrepreneurs to invest in a start-up or medium-sized project with great development potential. This investment opportunity introduced in 2018 has different sectors regulated by CMVM, Portugal’s regulator, where the applicant can choose to invest in different sectors, such as real estate, technology and industry. The main benefits of the Portuguese Golden Visa option are that the sectors are being handled by qualified experts, and the capital that is invested are tax-friendly, where dividends and capital gains are returned to the investor through subsidies or financed by the FDI, the Instituição Financeira de Desenvolvimento. On the other hand, the Algarve is another alternative for international investors that want to purchase real estate with the new restrictions on the Portuguese Golden Visa. It complies with the minimum requirement to be submitted for its lower density location, compared to more populous cities in Portugal, for as low as 280,000€ or 400,000€.

Portuguese Golden Visa, acquisition process

To apply for the Portuguese Golden Visa, applicants must prepare their documents and submit their residence application. Upon approval and payment of the permit issue fee, the residence certificate will be released with a validity of one year. In order to successfully obtain the permit, applicants must stay in the country for at least 7 days during the first year, and 14 days in the two following years. Once you have the Portuguese Golden Visa, you will have the option to later apply for Portuguese citizenship, wherein you will be a holder of one of the most valuable passports: the Portuguese passport.

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