The Portugal Golden Visa program has gained significant global attraction. It offers the opportunity for non-European nationals to obtain residency permits who prefer to become resident citizens of Portugal through investment in their countries. In 2024, the Golden Visa remains one of the popular immigration programs for those interested in investing in European real estate or diversifying their portfolio.
As the popularity of the program increases, potential investors will have to take best practices for making successful investments that qualify under the visa. Updated regulations, competitive investment landscapes, and new opportunities enter into play in 2024 making it paramount that investors stay informed to make sure they take the most advantage out of the Golden Visa program.
Golden Visa
The Portugal golden visa 2024 program enables foreign nationals to obtain home residency through investment. The investors have several options including real estate, capital transfer, business, or job creation in Portugal.
Golden Visa holders are provided with numerous benefits including the right to live, work, and study in Portugal, healthcare access, and educational rights for children, etc. They can also travel freely within the Schengen Area without any additional visas or permits. Investors may also apply for permanent residency or Portuguese citizenship after five years, however, they should uphold the investment and officially become a resident.
Investment Options
The program of Golden Visa contains different types of investment. Each investment contains different minimum thresholds.
Investment in Real Estate: Purchase the property for a minimum value of €500.000 or 400,000 according to your financial goals if located in a low-density region.
Capital Transfer: To transfer at least 1.5 million EUR into a Portuguese bank account or acquire approved financial instruments.
Establishment of a Portuguese Entity: Creating a minimum of 10 new jobs on that entity, either through its creation or by providing an existing business tax residency.
Fund investment: Invest at least €500,000 in a Portugal fund that invests in Portuguese companies or startups.
Each approach has different opportunities, so choose the investment that fits your financial goals.
Choosing the Right Area for Real Estate Investment
Location is a key factor for investing in real estate under a Golden Visa. While Lisbon and Porto were historically popular choices, recent regulations have restricted investments in these major cities, pushing investors to explore alternative locations. In 2024, many investors are looking at the areas of Algarve, Azores, and Madeira.
These regions offer lower property prices and attractive returns on investment. Portugal has a busy economy with thriving tourism in both domestic coastal hotspots and their main urban centers. In addition to increased property values, this investment unlocks the low-density region visa criteria for less expensive areas.
Advancing Residency requirements
The Portugal golden visa 2024 is widely known for its stringent residency requirement. To get eligible for such a permit, the investor should remain for only 7 days on average per year in Portugal.
While the Portugal Golden Visa initially grants temporary residency, it opens the door to permanent residency and citizenship. After five years of maintaining the investment and fulfilling residency requirements, investors can apply for permanent residency or Portuguese citizenship.
