Tax benefit GOLDEN VISA
GOLDEN VISA
The Portuguese Golden Visa program (also known as Visa Gold or ARI) offers non-European citizens a quick and easy way to obtain a five-year residence permit and the possibility of applying for Portuguese nationality and a European passport in the 6th year.
The Golden Visa allows free movement in the Schengen area and is an excellent opportunity for third-country nationals to buy holiday homes, make financial investments, establish their businesses in the EU or simply move around in a country known for the excellent quality of life, beautiful beaches, great climate and its magnificent history and culture.
The ARI permit can be granted if the applicant fulfills one of the three investment situations in Portugal:
1. Purchase of real estate worth at least € 500,000 (€ 350,000 or more if located in the urban regeneration area and meeting specific criteria.)
2. Transfer of capital equal to or greater than 1 million euros
3. Creation of a minimum of 10 workstations
The investment must have a minimum duration of five years, among other relatively soft obligations. It gives the right to family reunification and is a gateway to gain access to the permanent residence permit and to Portuguese nationality.
This scheme, created in 2012, actively participated in the dynamics of the Portuguese market.
Until the first half of 2019, 7,216 residence permits had been issued for the purchase of property worth 500,000 euros or more and 439 visas for the purchase of property to be restored with a price at least 350,000 euros.
UPDATE: On Monday February 10, 2020, the Portuguese Parliament approved the 2020 budget, which included new laws surrounding the Golden Visa program. Properties in major cities such as Lisbon and Porto may no longer be eligible for the program from 2021 and investors will have to buy outside of these locations. The new legislation has not yet been released by the government but is expected to be implemented by the end of this year. If you want to invest in Lisbon or Porto and be sure to benefit from the Golden Visa before the law changes, you will have to act quickly to avoid exceeding the deadline. Purchases of real estate before the deadline are not affected.
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