Dreaming of relocating to warmer climes? Since Brexit, making the move to Europe has become a trickier task than it once was, but the good news is that Golden Visa programmes have made it possible for affluent would-be expats to continue to bring those long-held dreams to life.
Portugal, with its rich culture and long, balmy summers remains one of the most popular destinations for relocation within Europe, and with its favourable cost of living when compared to the UK and many other countries in western Europe, it’s easy to see why.
In 2024, global mobility and secure residency options are more valued than ever before, and Portugal’s Golden Visa programme provides a pathway for non-EU/EEA citizens to European residency and potentially citizenship. This attractive initiative offers a compelling proposition and includes various investment options, for everyone from investors to retirees, and entrepreneurs worldwide. Here, we take a look at exactly how it works, and how you could soon be planning your move to this vibrant nation.
A golden ticket to Portugal
The Portuguese Golden Visa programme is a residency by investment (RBI) scheme, created to encourage foreign investors to boost the Portuguese economy. It was launched back in 2012, and until just last year, applicants had the option of investing a minimum amount of capital into real estate in order to become eligible – however, as of late 2023, this is no longer the case.
In order to apply for the Golden Visa, eligible individuals must now make a qualifying investment in the country, starting at a minimum of €500,000 in an eligible investment fund.
There are three types of qualifying fund; venture capital funds, private equity funds, and Portugal Golden Visa funds – each of which comes with its own set of pros and cons and thus, you should consider which type to go for carefully before making any rash decisions. Venture capital funds can be high risk, and tend to focus on maximising capital gains as opposed to yearly dividend payments, and typically have an averaged fixed maturity of ten years. Private equity funds, on the other hand, do focus on yearly dividends, with investments placed into either traditional markets or financial instruments – and there are varying levels of risk to choose from depending on your tolerance. The final option Golden Visa funds – often run for a length of six to seven years and offer low to medium risk and smaller returns.
There are also several other routes you can take to to qualify, including the creation of ten or more jobs in Portugal; a minimum capital transfer to increase shares of a company and create five jobs; the donation of at least €250,000 to arts, national heritage of cultural organisations in the country, or the investment of at least €500,000 in scientific and technological research.
To date, the Portugal Golden Visa programme has proved to be a roaring success, with applicants having already invested upwards of €7 billion in the nation by late 2023, providing a welcome injection for the economy. The programme provides a unique avenue for individuals and families to gain residency in Portugal and myriad benefits accompany it. From the intriguing culture and robust economy – and of course, that favourable climate – Portugal is a compelling destination for those seeking a better quality of life.
The benefits of relocating to Portugal
There are numerous benefits of a new life in Portugal, but one of the most pertinent in our post-Brexit world is unrestricted access to the Schengen Area. When the UK parted ways with the EU, British citizens lost the right to live and travel freely within Europe, but by becoming a resident and later, a citizen of Portugal, this is a benefit you can start to enjoy again once more. Holders of the Golden Visa holders can travel freely across 26 European countries without the need for additional visas or permits, and whether for business or leisure, this unrestricted access opens doors to new opportunities and experiences.
Beyond the practical benefits, Portugal is also known for offering an appealing quality of life, which is enough to draw in numerous Golden Visa applicants on its own. The country’s healthcare and education systems are both of a high standard, and welcoming communities make relocating largely a smooth and seamless process. From individuals to families of all ages, as well as retirees seeking a tranquil lifestyle or entrepreneurs pursuing new ventures, Portugal has got something for everyone.
How Dumont & Dos Santos can help
Navigating the intricacies of the Portuguese Golden Visa programme can be daunting, but with the right expertise on hand, it needn’t be. Reputable consultancy firm Dumont & Dos Santos specialises in immigration and residency services, offering comprehensive support to Golden Visa applicants, and with a wealth of knowledge and experience on their side – and yours – are available to guide you through the entire application process, to ensure a smooth and successful move.
The bottom line
If you’ve been dreaming of a brighter and sunnier new life in Europe, this appealing Portuguese Visa programme offers a golden opportunity you can’t afford to miss out on. With a range of attractive investment options to choose from, as well as favourable living conditions and an encouraging economy, there’s no time like the present to make your move and finally make that vision a reality.
With expert guidance on hand to make the entire process painless and hassle free, obtaining residency in Portugal has never been more accessible, and whether you’re seeking new business prospects, a peaceful retirement, or simply a change of scenery, Portugal is ready and waiting to welcome you.
To learn more about the Portuguese Golden Visa programme and how Dumont & Dos Santos can help, visit dumontdossantos.pt.
