Portugal is one of the world’s most globalized and peaceful nations in the World with great weather all year round. A core member of the European Union, Portugal has maintained a low key stance in comparison with its hyped neighbours like Spain, France and Italy. Unknown to most, it is the oldest country in Europe having maintained its same borders since 868. Portugal also once owned half of the “New World” making it the largest and longest standing global Empire in the World.
The great majority of the population speaks English. It is more affordable! Its beaches are pristine and not overrun with tourists. It is safe. Portugal ranked 4th in the 2018 Global Peace Index as one of the most peaceful nations in the world (Italy ranks 38, France 61 and Spain 30). Portugal is a country that roots itself in common respect for one another and the population is known for its warmth and hospitality.
The Portuguese Golden Visa is an investment-based visa which allows the country to obtain foreign capital to assist in boosting the economy and build up less established urban areas. The program has a number of flexibilities which makes the process a lot smoother for the investor.
There are a few options. One of them requires investors to make an investment of 1 Million Euro into the country. This investment allows the investor to buy a number of properties. In another option to the program someone can make an investment of €280,000 – €500,000 to purchase Portuguese property. The thresholds vary depending on location and age of real estate. Ultimately new real estate developments in prime locations like Lisbon will fall under the €500,000 investment minimum to be able to apply.
First created in 2012 and recognised by the OECD
Brought over €4 billion in direct investment into Portugal
More than 7,000 investors have benefited from the program along with more than 12,000 family members
Currently, the top five nationalities of investors are from: China (3,952), Brazil (590), South Africa (262), Turkey (247) and Russia 228 (Data from October 8th, 2012 to September 30th, 2018)
Permanent entry and visa-free travel throughout the 26 countries of the EU Schengen Area
The ability after five years to apply for Portuguese Permanent Residency and Citizenship
Residency for dependent children / parents which provides access to European schools & public services on a single property purchase
Seven day residency requirement in the first year and 14 days in the subsequent years
Access to exclusive European investment opportunities beyond real estate
Potentially no taxes on global income because of Double Taxation treaty
The ability to choose to be a non-habitual resident of Portugal and gain tax exemption for certain sources of income for 10 years
The ability to rent your property for income when not in country
LCR works to be a trusted advisor by providing program management support and simplifying the process. These are the steps:
Project & Attorney Selection
Invest in a qualifying property
File the Application & Complete the SEF Interview
Receive visa & 1 year residence certificate
LCR’s specialist team is fluent in both Portuguese and English, with the necessary expertise in immigration investment to advise clients.
Together, the team helps potential investors examine the opportunity in detail to determine whether European residency would meet the needs of their families. Lifestyle, educational options and long-terms plans are just some of the things to consider for global families.
From there, LCR helps clients choose a project that offers strong, conservative investment, to ensure the process is as smooth as possible. LCR manages that process step-by-step, working together with immigration attorneys and property developers throughout the journey.
The EB-5 Program has lapsed. The US Congress is discussing the legislation that authorizes the program while USCIS reviews the regulations and policies for filing. Because of the recent court ruling that reversed the 2019 Modernization regulations, the investment level has shifted temporarily from $900,000 back to $500,000.
If the program is reauthorized before the regulations are updated, there may be another window of opportunity to file at $500,000.
LCR expects the program to be reauthorized before October 1, and continues to work with international families that want to explore alternative residency options.