Portugal has become a preferred destination for many investors and tourists looking to relocate to the country. It has a low cost of living, a favorable climate, and various business opportunities. Portugal has a well-developed transportation system that links it with other countries. The main international airport in Portugal is located in Lisbon and it is by far the busiest airport in Portugal. In addition to this, Portugal has beautiful countryside with countryside spots like Cascais, Madeira, and Alvor.
Portugal’s favorable demographics attract people from all over the world to invest in Portugal. Portugal’s demographics are characterized by young people, middle-aged people, and elderly people which result in high population growth. Portugal population is expected to continue its rise until the middle of the next century. Due to the high fertility rates, Portugal’s population expansion will be slower than that of most countries.
Portugal’s Immigration Laws
Portugal’s laws on immigration are strict. And you need to have your foreign residence permit to sponsor a non-immigrant family member into Portugal. You may also sponsor an immigrant into Portugal if you meet their financial requirements and provide them with accommodation and employment. You may sponsor an immigrant into Portugal if you meet their educational requirements and provide them with accommodation and employment. If you meet their investment requirements, you will not be eligible to apply for a Portugal golden visa by investment.
Portuguese law also stipulates that you may sponsor an immigrant into Portugal who does not have a residence permit. Immigrants who do not have a residence permit in Portugal are required to apply for a residence permit after six months from the date of their application. An investor visa is different than a residence permit. The residence permit is obtained by the immigrant when he or she reaches Portugal.
Portugal Visa by Investment
Portugal visa by investment allows investors to stay in Portugal without applying for a visa. Investors who have a permanent address in Portugal can apply for a Portugal golden visa program. Immigrants who have obtained a residence permit, but want to stay in Portugal for business purposes can apply for an investor visa. In case of failure to obtain a Portugal investor visa by investment, the applicant may still apply for a Portugal visa by investment.
To be eligible for a Portugal golden visa by investment, you need to invest at least EUR 5,000. To apply for an investment visa, you need to fulfill the investment requirements. These requirements are based on the level of investment, whether it is corporate or residential, and the amount of stay that is required. You will need to fill an application form and return it to the immigration authorities. The form is available for download online at the Portuguese Embassy. There is also a fax service available.
Get All Your Ducks in Line
If you want to get a Portugal visa by investment, you need to make sure that you have all the documents needed and that they are updated. There is no such procedure that has been validated and verified as of now. You have to ensure that your documents are updated so that if you are required to appear in an examination panel, it would be easy for you. Several companies help immigrants obtain a visa by investing in Portugal. These companies will assist you in getting a Portugal golden visa.
Tax Benefits
The Portugal Golden Visa program offers excellent tax benefits to residents. Investors only pay taxes on their global income if they stay in Portugal for more than 183 days a year. However, Portugal has a very affordable tax system for those who want to live in Portugal. There is no income tax for the first 10 years. Non-residents are subject to 28% tax on their income earned in the country. It can be reduced by rental income. Capital gains tax is 28%, including expenses and depreciation. There is no inheritance tax in Portugal. The annual property tax (IMI) can range from 0.3% to 0.8% of the value of the property, with some exceptions.
Citizenship and Passport
Applicants for citizenship and passports can apply for permanent residence and Portugal citizenship after 5 years. To obtain Portugal golden visa, you must pass a basic language test, at which point the applicant must prove linkages with the country. 7 Sky Immigration can advise you on this matter throughout the process. Once the applicant has obtained a residence permit or citizenship, there is no need to renew the golden visa and thus the investment can be waived.