SECURING RESIDENCY PERMIT IN EUROPE
For individuals seeking to diversify their investment portfolio and secure residency in Europe, the Portugal Golden Visa Program offers a compelling opportunity. Portugal’s residency by investment program stands out as an attractive pathway to access the benefits of European residency, with those investing in the program having the opportunity to become European citizens despite a short stay requirement.
UNDERSTANDING THE PORTUGAL GOLDEN VISA PROGRAM
As one of the most popular Golden Visa programs in the world, Portugal’s Golden Visa allows non-European Union citizens and their families to obtain residency permits by investing in the country, with one of the most popular routes within the program being the investment fund option. This option allows individuals to invest a minimum of EUR 500,000 into qualifying funds such as private equity and venture capital funds, which must be held at least 5 years after receiving the Portugal residence permit.
It is important to note that increased program popularity, combined with the impact of COVID-19, has produced a considerable backlog, resulting in delays in the processing of visas. Fortunately, new laws introduced in January 2024 allow for naturalization for Portugal Golden Visa applicants after five years from the application date, rather than five years from the issuance of the Residence Permit. This change also allows for a much earlier return of the investment sum.
WHAT ARE THE BENEFITS OF THE PORTUGAL GOLDEN VISA FOR UK INVESTORS
The Portugal Golden Visa continues to attract global UK and global investors through its streamlined residency program, now focusing on two primary investment pathways. Investors can obtain residency by either committing EUR 500,000 to a Portuguese Investment or Venture Capital Fund—with a mandatory five-year maturity and at least 60% investment in Portuguese commercial companies—or by making a EUR 250,000 donation supporting artistic production or cultural heritage preservation through qualified public entities or foundations.
This refined approach maintains the program’s core advantages: a straightforward application process, minimal annual stay requirements of just seven days, and the potential to secure Portuguese citizenship after five years.
Such citizenship provides transformative benefits, including the right to live and work in portugal, unrestricted access to the entire European Union, a powerful passport enabling visa-free travel to 180 countries, and opportunities for healthcare and education across member states. Portugal’s additional attractions—its strategic Atlantic location, peaceful environment, welcoming culture, and affordable living costs—further enhance the golden visa’s appeal. Despite evolving investment criteria, the program remains an attractive avenue for global investors seeking international mobility, economic opportunity, and a strategic European foothold.
Why Live in Portugal?
Moving to portugal from uk has long been a popular choice for expats, and it’s easy to see why. The country offers a rich blend of culture, history, and natural beauty, making it an attractive place to call home. With a diverse landscape ranging from stunning beaches to picturesque mountains, Portugal provides a variety of environments for those seeking a change of pace.
What is the cost of living in portugal?
The cost of living is generally lower than in many Western countries, and the country’s health care system is ranked highly, offering solid services in most areas. Additionally, Portugal’s Mediterranean climate ensures a mild year-round weather, ideal for those wanting to enjoy an outdoor lifestyle.
Cost of Living Insights
For individuals contemplating relocation to Portugal, the country offers a compelling and financially advantageous environment:
- A family of four can expect monthly expenses of approximately 2,396.4€, excluding rent
- A single person’s estimated monthly costs are around 678.0€
- Overall cost of living is 11.3% lower compared to countries like Japan
(Source Numbeo)
Lifestyle and Location
Whether you’re drawn to the historical charm of cities like Braga or the coastal beauty of towns like Ericeira, Portugal offers a diverse range of living environments. The country combines affordable living costs with high-quality services, making it an increasingly popular destination for expatriates, retirees, and professionals seeking a balanced Mediterranean lifestyle.
The combination of economic affordability, excellent healthcare, pleasant climate, and rich cultural experiences positions Portugal as an exceptional choice for those looking to start a new chapter in a welcoming and dynamic European country.
Best Places to Live in Portugal in 2024
The cities on this list offer a mix of traditional charm, modern amenities, and unique lifestyles that suit a variety of tastes. From the bustling city of Porto to the relaxed coastal towns like Ericeira, there are plenty of places where you can enjoy an affordable and enriching life.
For those seeking a quieter, more laid-back experience, towns like Braga or the Algarve region offer peace, natural beauty, and a strong sense of community. On the other hand, those wanting to be closer to major cities without the high costs might look to cities like Seixal, just across the river from Lisbon, or Vila Real, which combines history with modern living. No matter where you decide to settle, each city provides its own unique experience for those looking to embrace the Portuguese way of life.
THE PATH TO EUROPEAN CITIZENSHIP
After five years from the application date, and upon meeting certain requirements, investors may apply for permanent residency in Portugal or directly for Portuguese citizenship. Once granted citizenship, investors and their families have the right to live, work, and study anywhere in the European Union, as well as the ability to travel visa-free to over 180 countries.
If you are considering seeking a golden visa for portugal or are interested in any other golden visa for europe, feel free to contact us.
With over 30 years of experience, Harvey Law Group is a leading international law firm specialised in Citizenship and Residency by Investment programs, operating in over 20 offices worldwide. If you would like to discuss your requirements further, you can contact us by email at [email protected].
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