The business climate is stable and successful as the country has good business and trade relations with the United States and Brazil as well as other countries in Europe. This is a good factor to choose the location of investment to be Portugal.
The workforce is skilled and Portugal has a high rate of quality of life which makes it that much more attractive to investors and people interested in the Golden Business Visa of Portugal.
Portuguese Golden Business Visa program
The very popular Portuguese Golden Visa program is highly valued all over the world. People or entities outside the European Union can apply for the program. The minimum requirements are to keep the investment up for at least 5 years and spend the obligatory time that is set for the Golden Visa program in Portugal.
The available options for the Portuguese Golden Visa investments are:
- transfer of at least 1 million EUR;
- creation of 10 job positions in the country;
- buying the real estate for the value of not less than 500 000 EUR;
- transferring the capital to research that is made by public institutions that is part of some kind of national scientific system in the amount of 350 000 EUR.
Another form of investment is the acquisition of some real estate that is completed contractually for at least 30 years and in the urban area of the country.
Some other forms of investment are transferring the 250 000 EUR in order to support the art and maintenance of the heritage of Portugal. More business-related forms of investment are the transfer of not less than 350 000 EUR in investment or venture capital fund that is purposed to companies that meet some requirements.
The procedure of obtaining a Portuguese Golden Business Visa
The procedure starts with the first preparation for an application for the Portuguese Golden Visa program. The preparation process starts with getting the Portuguese fiscal number together with opening a bank account in a bank in Portugal.
Second preparation step is to seek the form of investing as discussed in the previous paragraph. The next action is to get all of the needed documents from the country of origin and have it translated in Portuguese and notary approved.
There is an application for the Portuguese Golden Visa, therefore, it must be filled correctly and there is also a fee that has to be paid.
After submitting the documents and the application form, and the approval form the legal institution, person or legal entity representative must set a time for an interview. Then after all of the submitted document review, interview and waiting, the residence card is presented with an obligatory requirement to repeat the procedure at the end of year one and year three.
Payments for obtaining a Portuguese Golden Business Visa
Not taking into account the initial investment sums, there are fees that have to be paid when applying to the Portuguese Golden Business Visa program. From the year 2019, the fee is 532 EUR for the processing fees of the program and if there are additional family members that are applying together with applicant it is additional 83 EUR.
The insurance for the Golden Business Visa per person costs around 5325 EUR.
Keep in mind that the rates can change and be a bit higher due to inflation. It is also recommended to have a lawyer in order to get the Golden Business Visa with ease but it will cost extra fees for the additional services of the lawyer.
Benefits of Portuguese Golden Business Visa
Portuguese Golden Business Visa is one of the most popular around the globe for a few reasons. There are large and affordable investing options that are allowing to get residency and citizenship for up to 6 years.
Very overlooked but also the beneficial outcome is the freedom to travel in the Schengen area which is a huge opportunity for foreigners.
A requirement for foreigners to stay in the country in return for the Golden Business Visa is only 7 days per year which is a really small amount of time that can easily be kept in order.
The passport is quite strong in Portugal and the quality of life, as well as all of the benefits of healthcare, education, and climate, is yet another perk of obtaining the Portuguese Golden Business Visa.
If you found that Portugal’s Golden Business Visa program is not suitable for your needs, then there are multiple other similar citizenship for investment programs you can check out.