Portugal’s Golden Visa Program Offers Residency And Profit

Obtaining residency in a foreign country can be one of the most valuable benefits of buying real estate abroad.

I write frequently about obtaining residency through property purchase, and the examples of good programs are almost always in Latin America.

But now it’s Europe’s turn… specifically, Portugal. Portugal has launched a program called the Golden Visa program that targets the foreign investor and property buyer.

For the average buyer with no family connections in Europe, it’s the best residency program for the region.

Here’s Why Portugal’s Golden Visa Program Is So Valuable

First and foremost, Portugal is a great place to live, so residency in the country is naturally attractive. The Portuguese have the best beaches in Europe, and this country boasts moderate weather and an abundance of sunshine.

Also, Portuguese real estate is a bargain buy at this time, as the country still has not come back from the last recession and property crash.

To top it off, the U.S. dollar is strong against the euro, making properties significantly less costly for dollar-buyers than they were just a few years ago.

Finally, when you become a resident of Portugal, you have access to all 26 European countries in the Schengen area. Signed in 1985, the Schengen Agreement pre-dates the European Union and creates a “borderless” zone to allow visa-free travel among the signatory countries. Originally, the agreement included the 10 members of the European Economic Community and became EU law in 1999.

When you obtain a visa under this program, you are eligible for permanent residency after five years and for Portuguese citizenship after six years. As an additional benefit, a Golden Visa allows you to include family members.

You have 10 options for obtaining an investor visa in Portugal under the Golden Visa program. These vary from million-euro bank transfers and the creation of 10 jobs to investing in artistic or cultural activities.

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