What is the best way to invest in a Portugal Golden Visa?
It all depends on your personal circumstances and objectives. For investors seeking a Golden Visa with minimum hassle, investment funds are best. It is the fastest, most tax-efficient Golden Visa with the lowest overall cost of investment. Although capital transfer is simple and straightforward for this option too, the investment threshold (€1.5 million) is much higher than that of other options, giving less return to the investor as a whole.
Is it possible for me to be eligible for the Portugal Golden Visa if I have a criminal record?
The fine for the misdemeanor and the level of the penalty for the offense in Portugal will decide whether or not you are qualified for the Golden Visa. If you would have received a prison sentence shorter than one year, then you could be eligible; however, it is essential to contact an attorney to ensure that you're correct.
Is it possible for British citizens to apply for the Portugal Golden Visa?
Yes. British individuals have become third country nationals since the UK has left the EU, making them eligible for the Portugal Golden Visa. It's an excellent option for British people who want to get their lost EU rights back.
Are there citizens of any specific countries who are ineligible for the Portugal Golden Visa?
The Portugal Golden Visa is not available to citizens of the European Union, European Economic Area (EEA), or Switzerland. All others are treated equally. However, please note that Russian and Belarus nationals are excluded from the program until further notice.
Can Americans invest in Portuguese investment funds to get a Golden Visa?
Yes. Because of FATCA laws, not every fund is accessible to US residents, but many are.
Is it possible to use a mortgage to finance my purchase?
You may invest beyond the limit using mortgages, but you must first meet the minimal requirement without one. You are unable to borrow money from within Portugal to finance your Golden Visa, but you can obtain the funds you need from foreign sources. This is because the major goal of Portugal's Golden Visa initiative is to attract foreign investment to the country.
Is it possible for me to sell my investment if I change my mind?
Yes, in most situations. However, it will interrupt your citizenship timeline. A lock-in period may exist for investment funds.
Is it necessary to live in a real estate investment if I buy it?
The answer is no, you can rent out your property if you choose to.
If I obtain the Portugal Golden Visa, can I also get NHR tax status?
The answer is yes, however you must be a full-time Portugal resident to qualify and register as a tax resident. Even though Golden Visa holders can keep their immigration status whether or not they're a Portugal tax resident, the NHR scheme only applies when working alongside tax residency.
What are the costs and expenses associated with owning real estate in Portugal?
Portugal has some of the most onerous real estate taxes in the world. The most important tax is known as transfer tax (or IMT), which must be paid when you execute the purchase contract and sign the deed. Transfer tax is usually 6.5% of the property's value, but it varies depending on the band to which it belongs. There's also an ongoing annual municipal charge of 0.8%. Portugal assesses income from rentals regardless of your residency status.
What are the language criteria for Portuguese citizenship?
To become a citizen, you'll need to be able to speak Portuguese at A2 level on the Common European Framework of Reference for Languages (CEFR). There are no language restrictions for the Golden Visa.
Is it preferable to obtain permanent residency or Portuguese citizenship?
If you want to live in Portugal permanently, you can apply for citizenship or permanent residency. Citizenship gives you all the rights of an EU citizen, including freedom of movement. Permanent residency means you can stay in Portugal as long as you want, but you don’t have rights anywhere outside of Portugal.
What is a NIF and how can I acquire one?
The NIF is the Portuguese tax identification number. Regardless of whether or not they reside in Portugal, everyone who applies for a Golden Visa must obtain one. Having a NIF does not automatically make you a tax resident of Portugal. Any tax office in Portugal may accept your NIF application. Most Golden Visa candidates, however, prefer to have their lawyer handle it or fill out an application online instead.
Is it true that I must continue to contribute to Social Security if I live and work in Portugal?
If you choose to become a full-time resident of Portugal, you don't have to pay into Social Security contributions to receive healthcare. This is possible because healthcare is funded from income tax instead of Social Security contributions.
Is it true that I will need to pay taxes in Portugal if I obtain the Golden Visa?
Although residency and tax residency are different, a Golden Visa allows you to keep your residency without becoming a tax resident. If you visit Portugal more than 183 days out of the year, however, you will be classified as a tax resident and therefore required to declare all worldwide income to the government. Various aspects of your earnings may qualify for special treatment under Portugal's NHR income tax program.
How long does it usually take to receive a Golden Visa?
You can expect to receive your biometrics appointment after submitting your completed application to SEF in around six weeks. After that, the entire process takes 4-6 months for SEF to issue Golden Visa residence cards. If more staff members are hired by SEF, this time frame may shrink in 2022. The Portugal Golden Visa program is still quite popular.
Is it necessary to hire an attorney to prepare my Portugal Golden Visa application?
Though you could finish the process by yourself, it's not recommended because because so much money is at stake and the process is complicated, most people choose to hire an experienced professional.
If you have a Golden Visa, can you legally work or study in Portugal?
Yes. You and your family may conduct both activities. Portugal is a great place to start a company because of its low cost of living, tax advantages, and excellent business climate.
If I have a Portugal Golden Visa, do I need another visa to visit other countries?
The Portugal Golden Visa permits travelers to remain in the Schengen area for 90 days out of every 180. From a tourist perspective, this is extremely beneficial for applicants from countries that normally need a visa to enter Schengen. However, citizens of countries that already have visa-free access like Brits, Americans likely won't notice much difference.
Can I have two passports if I am a citizen of Portugal?
Yes, Portugal allows you to have two nationalities. (Dual Passport)
What are the benefits of EU citizenship?
The main advantages of EU citizenship are the rights to freely live, work, study, do business, and retire in any of the 30 countries in the EU and EEA (European Economic Area).
Is it true that the Portugal Golden Visa investment program guarantees immediate citizenship?
No, the Portuguese Golden Visa does not provide a fast track to citizenship. It is however a residency by investment program that if you choose to follow through with can eventually lead down the path of citizenship. Properly adhering program also has the large perk in comparison to other programs like Malta's, in that the money spent on obtaining this visa is more akin to an investment with potential returns rather than simply a donation which leaves you without any guarantee of progression or return.
Do I need to reside in Portugal full-time with the Golden Visa?
No, you are not obligated to live in Portugal full-time after receiving a Golden Visa. You can move there at any time with a Golden Visa.