A Guide to Citizenship by Investment in Portugal
By TOI Staff February 22, 2023 Update on : May 30, 2023
Nestled on the western coast of the Iberian Peninsula, Portugal is a country steeped in history and brimming with breathtaking landscapes. From the medieval castles and quaint villages of the interior, to the golden sands and turquoise waters of its southern coast, this small nation is a veritable treasure trove of cultural and natural wonders.
Since its introduction in 2012, the Portuguese government has made it possible for private individuals to acquire citizenship through investment. This program allows foreign nationals to become citizens of Portugal without having to meet any specific residence requirements. So, what are the benefits of becoming a citizen of Portugal? Let’s take a closer look at this program and how it can benefit those who are interested in investing in Portugal.
What is Citizenship by Investment?
The Portuguese citizenship-by-investment program, also known as “Golden Visa”, is a process that allows foreign nationals to obtain Portuguese citizenship and a passport by making an investment into the country. The main purpose of this program is to attract foreign investments into the country and incentivize people who have high net worth or significant business interests in the country.
Benefits of Citizenship by Investment
Citizenship by investment offers a variety of benefits for those who decide to invest in Portugal. These include visa-free travel throughout the Schengen countries, access to free healthcare and education services within the EU, as well as certain tax considerations that can be beneficial depending on your individual circumstances. In addition, you will enjoy all of the rights and privileges afforded to citizens of Portugal including the right to vote in elections, hold public office, and own property. Finally, Portuguese citizens are able to obtain permanent residency status after five years and full citizenship after six years.
Since this information is updated annually based on different factors, then please be aware that nationals who hold Portuguese passports can now travel to 153 countries as their passport is ranked 15th according to https://visaguide.world/visa-free-countries/portuguese-passport/ which provides information on passport rank and a list of all countries that Portuguese passport holders can visit without a visa in 2023 besides the Schengen Area.
Requirements for Citizenship by Investment
In order for an applicant to be approved for Portuguese citizenship through investment they must meet certain criteria set forth by the government. These include having a valid passport from their home country, no criminal record or pending criminal charges, proof that they have sufficient funds or assets available for their investment (typically €500K or more), proof that their primary source of income is from outside Portugal (if applicable) and proof that they have not been refused entry into any other Schengen states (if applicable). The process typically takes about 6 months from start to finish once all required documents and payments have been submitted.
Citizenship by investment in Portugal provides numerous benefits such as visa-free travel throughout Europe, access to free healthcare and education services within the EU, certain tax considerations tailored specifically for those with substantial assets or businesses located overseas. If you meet all the requirements set forth by the government then you could potentially become a citizen of one of Europe’s most desirable countries within just 6 months! Investing in Portugal can provide you with stability and security while allowing you access to some of Europe’s most beautiful cities—all while maintaining your current lifestyle abroad. For those looking for an opportunity to invest overseas while still reaping all these rewards—Portuguese citizenship through investment may be just what you need!