The most common way to obtain a Portugals Golden Visa is to invest in Real Estate. Non-habitual tax residents have a 10 year residence status. The visa can be renewed for 10 years. The process to apply for a Portugals Golden Visa can be a difficult one, so in this article we’ll go through the requirements and application fees. Once you have met the requirements, you can apply for your visa. After that, you’ll need to decide whether you’d like to become a tax resident in Portugal.
Real Estate investment is the most common path to a Portugal Golden Visa
Many foreign investors have been enticingly attracted by Portugal’s resurgence and its attractive tax incentives. The Portuguese Golden Visa is now open to US citizens, who can benefit from the real estate investment opportunities offered by this Mediterranean country. For American business owners, investing in Portugal’s real estate can help them extend their operations to the country. The benefits are numerous, and it’s no wonder why so many foreign investors are interested in the Portuguese real estate market.
The main criteria for acquiring a Portugal Golden Visa are: age 18 or older, no criminal record in one’s home country and a clean record in the country of residence. The money must come from outside of Portugal and must be invested in qualifying Portuguese real estate or venture capital funds. If you have a family in Portugal, the program allows for family reunification. The list of eligible family members can be found in the previous section.
Non-habitual tax resident status is valid for 10 years
If you are a non-EU citizen, you need to first apply for a residence permit in Portugal. There are various ways to apply for a residency permit in Portugal, the most popular of which are the Golden Visa Program and Passive Income. Depending on your nationality, you may be able to apply online or in the Portuguese embassy. Another important requirement is a NIF number, which is a nine-digit tax identity number. Non-residents can obtain a NIF number through a representative or lawyer, while residents can get it directly from local tax offices.
Portugal’s non-habitual resident (NHR) tax program was implemented in 2009 and was designed to attract high-net-worth individuals, pensioners, and other professionals to the country. Those who qualify for this residency program can legally minimize their foreign income tax by 20% for a period of 10 years. To qualify, individuals must be resident in Portugal on the 31st of December of the previous year and receive a Residency Certificate and Tax Identification Number. Portuguese companies may also benefit from the NHR tax regime, as they can use the non-discrimination rules and directives in the EU.
Portugal’s Golden Visa is a popular tourist visa that provides an easy way to work and live in the country. The process is quick and straightforward, and the fees for the visa are minimal compared to the rest of Europe. The first step in applying for the visa is to find a suitable investment. While most Golden Visa investors initially invested in real estate, there are many other investment opportunities available for Golden Visa investors, such as 10 jobs in Portugal. The minimum investment amount is not set.
Applicants must submit proof of their investment in order to obtain the visa. Although the primary claimant must hold on to their investment during the time they are granted the visa, they can sell it once they have become permanent residents of Portugal. The documents that prove the investment can be a deed, a promissory sale agreement, a deposit payment, or a subscription confirmation from the fund management. In the case of a real estate investment, a deed or promissory note is sufficient proof.
In addition to providing residency to non-Europeans, Portugal has also introduced new investment criteria. Since the program’s launch in 2012, 27,000 non-Europeans have received golden visas. There are eight investment categories to choose from. One of the most popular is a return on investment (ROI) scheme, which allows investors to receive their initial investment back after five years. However, there are some restrictions.
To apply, individuals must submit an online application and accompanying documentation. The documents must be translated or legalized, and they must be issued within three months of the online application. The SEF also requires a sworn statement attesting to their compliance with the minimum investment requirement. In addition, the applicant must submit documents proving their good standing in the Portuguese tax and customs system and social security system. The applicant must also provide receipts indicating payment of the application processing fee.
Renewing your residence permit
Renewing your Portugals Golden Visa residence permission is an easy procedure. To qualify, you must have lived in Portugal for at least 14 days. During your stay, you are required to contribute 350,000 EUR to an investment fund in Portugal. Your Golden Visa is valid for a period of three years and must be renewed at least once every three years. You must apply for a new Golden Visa before your current permit expires.
The Portugals Golden Visa is a residency by investment program available to non-EU citizens. To be eligible, you must be at least 18 years old, have no criminal record in your home country, and be able to contribute to Portugal’s economy. The process is simple, fast, and strict. If you qualify, consider investing in Portugal. There are many opportunities for foreign investors. Listed below are some of the requirements and how to renew your Portugals Golden Visa residence permit.