Demand on Portuguese Golden Residency And Extra Incentives

The Portuguese Golden Residency is receiving increasing interest from foreign investors for several reasons, most notably its lenient residency requirements in Portugal. A one-week stay per year is sufficient to maintain residency.

Last year, the program broke records in the number of applications and approvals. The acceptance rate exceeded 72%, and the total number of approved applicants reached 5,000 visas, the highest number since the program’s launch in 2012, breaking the previous record of 4,000 visas set in 2017.

Since the program accepts investors from outside the European Union, according to data from the program’s administrative body, American citizens are the nationalities most in demand for Portugal residence by investment, followed by Chinese and Brazilians.

What Portuguese Golden Residency think about the incentives?

In light of official promises to improve the Portuguese Golden Residency Program, the government is considering improving the following details:

1. Additional tax incentives to support the investors on long-term.

2. Restructuring the program to make it more economically and socially transparent.

3. Improving the integration of the tax system and the Portuguese Golden Visa

Prime Minister’s Statements on Portuguese Golden Residency

In this regard, the Minister of the Prime Minister’s Office stated in an interview with Bloomberg that the government is not considering ending Portuguese Golden Residency Program, but rather expanding it. He said, “There is no intention to stop it; it’s not on the table.”

He noted that “Portugal’s Immigration and Borders Unit is processing 45,000 pending applications for Portuguese Golden Residence Program, and most of them are expected to be completed by the end of this year.”

He added, “Through the upcoming changes, we are working hard to attract foreign investment and global talent to raise the level and quality of the country’s economy. We are also working hard to review our tax system and the details of our program to make it more efficient and effective from both an economic and social perspective.”

Portuguese Golden Residency recent benefits

In today’s interconnected world, Portugal Residency by Investment Program is an indispensable option, not only because of the incentives it offers, also not because of the recent surge in interest from international applicants and investors. Indeed, Portugal is a unique choice for:

◈ Cultural diversity in a country that embraces cultures and is renowned for its unique geographical location.

◈ The ability to build an international network of professional and business relationships in a country experiencing commercial growth.

◈ Portugal is known for its rich history, mild climate, stunning natural beauty, and excellent European healthcare system.

◈ Ease of integration in a country characterized by a hospitable population and a high percentage of English speakers.

◈ Easy access to international universities and Portuguese educational institutions.

◈ The ability to live, work, and travel throughout the European Union.

◈ The ability to obtain permanent residency in Europe and Portuguese citizenship in the future.

What about permanent residency and European citizenship?

The right to work is a prerequisite when seeking European residency by investment programs. While Portugal already has a comprehensive program for job seekers or business owners, you can also obtain a work permit through the Portuguese Golden Residency.

On the other hand, Portugal is an attractive destination for obtaining permanent residency after five years of residence. What makes it a good destination for permanent residence is its safety, strong healthcare and education systems, stunning climate and landscapes, moderate cost of living, and widespread use of the English language. All of this makes it a great retirement destination. Furthermore, with the Portuguese Golden Residence Program, you can add your family members to your application to benefit as whole family from the program’s benefits.

Although Portugal currently requires a five-year residency period to qualify for European citizenship, the Portuguese Residency Program Unit is actively considering extending the residency period to ten years instead of five to qualify for Portuguese citizenship. Therefore, it is advisable to take advantage of the current conditions and apply for the program with all its benefits now.

It is worth noting that Portugal allows you to retain your first citizenship if you acquire it in the future, provided your home country accepts dual citizenship.

While this article discusses many of the benefits of the Portuguese Golden Residency, it may not be suitable for some. Therefore, you can consult one of our expert advisors to clarify the picture and explain the difference between residence by investment and citizenship by investment. We are an accredited authority for obtaining either program from one of the countries that offer it.