How to become a resident and citizen of Portugal
It’s no secret among high-net-worth individuals that investment migration is an excellent way to improve global mobility, secure wealth, and increase options in terms of where they can live and conduct business. Global volatility is the new normal so having greater optionality is more important than ever. With so many residence and citizenship by investment programs to choose from, it may be difficult to decide which is best. A clear favorite has emerged in Europe, however–the Portugal Golden Residence Permit Program. A key attraction of Portugal’s ‘golden visa’ is that after five years, you can apply for Portuguese citizenship, with no need to relocate (although you might be tempted!).
Portugal – a prime location in Europe
Across the globe, interest in Portugal as a residence and investment destination is growing, and Filipino investors are no exception. Even investors from developed nations with strong economies and powerful passports, such as the UK and the USA, are choosing Portugal. Here are a few reasons why:
- Portugal has an excellent reputation and is one of Europe’s safest, most prosperous nations.
- World-class education, healthcare, and financial incentives are available in Portugal.
- The country’s economy is one of the most stable in Europe.
- Foreign visitors and investors are welcome in multicultural Portugal.
- Portugal offers a crypto-friendly environment, currently with no tax on cryptocurrency.
- You can invest in real estate to acquire the golden visa.
- Portugal is a member of the European Union (EU), so its residents can live and work in any EU country and also enjoy visa-free travel to Europe’s Schengen Area.
- After just five years of being a Golden Residence Permit holder, you can apply for citizenship.
- Portuguese citizens enjoy visa-free or visa-on-arrival travel to 187 destinations — that’s over 120 more than with a Filipino passport.
Multiple investment options available
There are many options available for acquiring a Portugal Golden Residence Permit:
- Capital transfer — four options, with the lowest being EUR 200,000 in support of artistic production or national cultural heritage in a low population density area
- Business development — two pathways, with minimum requirements of creating at least eight jobs or investing EUR 500,000 in a Portugal-registered company
- Real estate — two options, with a starting point of just EUR 280,000 invested in real estate in a low population density area
Portugal’s golden visa – a pathway to citizenship
As mentioned, one of the biggest attractions of Portugal’s golden visa is the pathway to being eligible for Portuguese citizenship after five years of residence. During that time, the minimum stay requirement is only 35 days. If you choose to invest in real estate, you have the right to rent out your property, so you could add a revenue stream for most of the year and use your new premium abode as a seasonal vacation home.
With so many benefits, it’s no surprise that Portugal takes the top position on Henley & Partners’ Global Residence Program Index in 2022.
To find out how to become a Portuguese resident and citizen, reach out to Scott Moore, Managing Director and Head of the Philippines office at Henley & Partners — the global leader in residence and citizenship by investment.
Written by: Scott Moore, Managing Director and Head of the Philippines office at Henley & Partners
ADVT
