For the first time ever, Portugal gives a Golden Visa to someone for their contribution to the country's culture
Sep 28, 2021
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That’s never happened before the person has obtained the Portuguese Golden Visa for their investment in cultural legacy preservation. The memorable event took place on May 21.In conforming with Imidaily statistics, the Golden Visa participants choose one of three variants to get a European residence permit by:
- acquiring real estate (residential or commercial)
- investing in the country's economy
- setting up a new business with the creation of at least ten new jobs as an obligatory requirement.
How can I get the Portuguese Golden Visa?
However, the Golden Visa program provides many more alternatives for obtaining permanent residence, as mentioned above. Each participant can choose the most convenient way for themselves to gain Portuguese permanent residency. Among them are:
- Purchasing real estate prices begin at €280,000. You can buy a residential or commercial item, a new property, or one that needs to be renovated. In the case of purchasing a building for reconstruction, the least possible investment sum is decreased.
- Contributions in funds the lowest investment sum is €350,000, and the highest is €500,000. This option has a profit margin of 3 to 10 percent every year.
- Investing in the local economy €1 million is the smallest amount of contribution. This program variant includes opening a bank account, establishing a business, or buying shares in Portuguese firms.
- Business there are two modifications of this type of contribution: you can create at least five jobs and invest €350,000, or make at least ten employments and invest €100,00.
- Cultural heritage preservation: in this scenario, you should invest €250,000. Profitability and return are not to be anticipated. This is a one-time payment. Its primary benefit is the assurance of future citizenship.
- Scientific activities: the smallest investment of €350,000 is required. The other criteria are the same as the variant of investing in culture.
What are the benefits of the Golden Visa program?
The Golden Visa holder has some profits from the Portuguese permanent residency:
- Family members of investors are also provided with a residency permit
- 5 year right to become a citizen of the EU
- It is not necessary to give up your original passport if you are a dual citizen of Portugal
- Possibility to travel freely in 26 Schengen member states
- Portugal offers tax breaks for 10 years (no global income tax)
- Free public education for the investor's children, as well as access to European-quality health care for the investor and his or her spouse
- Portugal is ranked fourth in the world for safety.
How can I get a Golden Visa?
If you want to become a resident of Portugal with the help of a Golden Visa as soon as possible, use the services of migration organizations as Migronis. With the agency's support, the shareholder is granted residency unanimously and gets the visa without any hassles, difficulties, or significant delays. The Migronis specialists support applicants at every step of obtaining a visa. The agents:
- verify that the applicant's investment funds and make sure they are open and transparent
- assist you in selecting a real estate property, firm, or fund to invest in
- gather all required papers
- fill out the questionnaires
- translate and apostille documents
- handle all correspondence with the migration authorities
- monitor the application's progress.
Tags: English