Since its inception back in 2012 Golden Visa Portugal has been the most popular residency investors in Europe. It offers foreign investors with residency for an investment that is eligible. In addition relatives of investors also benefited.
From 2012 to date, the programme been able to attract over EUR5 billion in investment and over 10,000 people.
The top three countries that have shown the greatest enthusiasm for Golden Visa have been China, Brazil, and Turkey. Today, Australian citizens are also interested for Golden Visa in Portugal. The primary reason is the lockdowns resulting from COVID-19. This program provides a simple and quick process to obtain the European residency.
Table of Contents
- Australian Citizens Can Obtain Portuguese Citizenship With Their Portugal Golden Visa
- About the Program of Golden Visa for Portugal
- Investment Options To Get Portugal Golden Visa
- Benefits of Portugal Golden Visa for Australian Citizens
- Family Members Can Benefit As Well
- Live, Work, and Study in Portugal
- You Can Travel Within Europe More Easily
- Lower Cost of Living
Australian Citizens Can Obtain Portuguese Citizenship With Their Portugal Golden Visa
The program could result in Portuguese citizenship within five years. Additionally, Australia allows dual citizenship.
In the initial step you’ll be granted a temporary residence that’s in effect for two consecutive years. You must stay in Portugal for at least 14 days in the period of two years. After that, you are able to extend your residency permit to another three years. You must remain in Portugal for at least 21 days in the three-year period.
Golden Visa within Portugal gives you to travel for free throughout the Schengen Zone as well. Therefore, even before you attain citizenship, you’ll be granted the ability to travel between Schengen countries without visas.
After the five-year period you will be able for citizenship. Additionally, you must pass an initial Portuguese language test to gain citizenship. A Portuguese passport permits you to study, work and live anyplace within the EU.
About the Program of Golden Visa for Portugal
Citizens who aren’t from those who are not from the EU, EEA, or Switzerland are eligible to apply to this program. Candidates must be above 18 years old as well as have an unblemished criminal history.
The first step is to ensure that you must make a qualifying investment to Portugal. You can choose from a range of choices for investment, including real property acquisition, fund investment capital transfer, numerous others.
Investment Options To Get Portugal Golden Visa
- Purchase a real estate investment for a minimum amount of EUR500,000. When the house is situated in an area of low density the amount required drops to EUR400,000.
- Purchase a property in real estate that has a minimum worth of 350,000 euros. It should be more than 30 years old and requires to be updated. If it’s located in a low density zone the investment requirement decreases to EUR280,000.
- Join a qualified Portugal Investment fund. The minimum amount that is required to do this is EUR350,000.
- Complete an investment transaction of EUR1 million
- Start a company that provides at least 10 jobs for Portuguese citizens
- Spend EUR250,000 on the arts or the renovation of national heritage sites in Portugal
The following are current requirements for investment for the programme. There will be modifications that will take effective on January. 1st 2022. In this regard the amount of investment for subscription to a fund will rise to EUR500,000. In addition, homes purchased from Lisbon, Porto, and along the coast won’t be considered eligible investments to be eligible for the Golden Visa.
Benefits of Portugal Golden Visa for Australian Citizens
Participants can reap the benefits from this program. Let’s examine a few of them.
Family Members Can Benefit As Well
Family inclusion is among the appealing features in this programme. The family members comprise your spouse and children younger than 18 years of age. If they are over 18 and full-time students , and are financially dependent, then they may also benefit. Parents over 65 may be considered too.
Live, Work, and Study in Portugal
Golden Visa in Portugal provides you with the opportunity to work, live and learn in Portugal. Family members of yours can also benefit also from these rights.
Therefore, your kids can benefit from the education program in Portugal. Portugal is home to a number of international schools that offer different curriculums including British as well as American. For instance, the British School of Lisbon, International School Cascais along with St. James Primary School are just a few.
You Can Travel Within Europe More Easily
Because Lisbon is located close to the rest of Europe You can travel more conveniently when you reside in Portugal.
Lower Cost of Living
In general prices for living expenses in Portugal is much lower than in Australia. According to Numbeo supermarket prices for groceries in Australia have been 91.55 percent higher than those in Portugal. The rent, the consumer and restaurant prices are at an average of 70 percent more in Australia than Portugal.