Golden Visa: the fastest way to obtain a European passport
Contributed by Global Citizen Solutions
28 August, 2019
In times of instability, whether it is economic uncertainty or political unrest, a second passport can become an asset to any investor. European citizenship brings many benefits, from the added ease of travel to the right to work and live anywhere on the continent. In the case of Portugalâs Golden Visa, investment can lead not only to a greater sense of security but also significant financial returns.
The best Golden Visa program in Europe
According to many investment analysts in Europe, the Portuguese Golden Visa consistently ranks more highly than the rest. Patricia Casaburi, CEO of Global Citizen Solutions, a company that specializes in assisting Golden Visa applicants, "many overseas investors are looking to Portugal to invest, not only for the stability and opportunities it can bring but also because the country has a dynamic housing market which can result in lucrative financial returns".
Why has Portugal's citizenship by investment program suddenly become so popular? Well, it is largely due to the many benefits associated with the scheme, as well as the generous incentives introduced by the Portuguese government. The Portuguese economy is also on track for healthy growth over the next few years and has many interesting and diverse opportunities to take advantage of.
EUR 4 bn worth of investment has been made through the Golden Visa scheme
A recent report from the Portuguese border control service SEF (ServiÃ§o de Estrangeiros e Fronteiras) revealed that investment in Portugal's Golden Visa reached almost EUR 4.5 bn this year, with over 7,000 investor visas issued, as well as a further 12,000 visas granted to dependents and family members. These developments show that the scheme has been without a doubt a great success, and also instrumental in revitalising the Portuguese economy after the financial crisis. In the past year there has been a significant increase in interest from investors in the US, Turkey and Vietnam.
The fastest way to obtain a European passport
For many, the main draw of citizenship by investment programs in Europe is the possibility of obtaining a European passport. Portugal is a particularly attractive option as the country forms part of the European Economic Area (EEA), and residency guarantees investors the right to freedom of movement throughout the 26 countries in the Schengen Area, as well as visa-free travel to many other countries worldwide. Portugal also has a liberal definition of dependents which can be included under the investment visa, meaning that family members can also join investors and benefit from the same rights. Children are not subject to age restrictions, just as long as they are registered as full-time students.
Fast-track to European citizenship
Another benefit which makes the Portuguese Golden Visa stand out among the other citizenship by investment programs in Europe is the period of time it takes in order to obtain citizenship. Golden Visa programs in Europe can require up to ten years of continued investment, whereas with Portugal's Golden Visa investors can obtain citizenship in just five years.
Dynamic housing market with enticing investment opportunities
When it comes to investment opportunities for Golden Visa investors in Portugal, it doesn't just have to be about obtaining citizenship. Applicants for the Golden Visa scheme have the opportunity to invest in cities such as Lisbon and Porto, which have seen continued growth in the tourism sector in recent years. As a result, they boast some of the highest rental yields in Europe when it comes to both long- and short-term leases, as well as a stable market which is forecast to grow continuously over the next 5 years.
Lucrative tax incentives
In addition to the many benefits applicants can enjoy through investment in the Golden Visa, the Portuguese government has also introduced a number of measures to encourage investment in the country. The non-habitual tax status is a scheme under which investors of high economic and cultural worth can benefit from considerable tax reductions, or in some cases a complete exemption.
There is no time like the present to make an investment in Portugal
With high living standards and considerable financial returns, Portugal is the perfect choice for those looking to invest or relocate. Its Golden Visa scheme gives all of the benefits of others in Europe, and its investments reward with much higher returns.
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