Portugal Golden Visa for Americans: Visa requirements and eligibility rules
A new life in one of the treasures of the world awaits foreign investors from non-EU countries.
A life promising sun, sea, sand – and a major investment.
Portugal’s Golden Visa Program offers people who are looking to move overseas the perfect opportunity, as they embark on the exciting next chapter of their lives.
In simple terms, it is a fast-track initiative for foreign investors from non-EU countries to obtain residency in Portugal.
The opportunity is not the only one in the world, however, it is one of the most popular.
Golden Visa for Americans
The United States of America is among the many countries in the world that the program is open to.
The distance between the two nations is around 7,330km. There is a huge distance, as well as a huge contrast, between the two countries.
However, it is the significant appeal of Portugal which is making Americans consider the life-changing move. And who can blame them?
American citizens are eligible to apply after they meet all of the Portugal Golden Visa requirements and eligibility criteria.
Many in America will be attracted to the tax benefits offered by it.
Those who own businesses in America may opt to expand their business to Portugal due to the tax-related incentives, while owning real estate in the country is also sure to be of much appeal.
The residency by investment program allows individuals to live, work and study in Portugal.
Meanwhile, compared to tax requirements in America, those who opt to make the move overseas to the southern European country on the Iberian Peninsula could save significant amounts of cash and be able to spend it how they like.
How to qualify
Of course, there are a number of requirements that need to be met to ensure people qualify for this opportunity.
Changes are set to be introduced in 2022 but there is still time to access the program in its current form. The major changes will result in an increase in the minimum investment thresholds.
But what are the eligibility rules for Americans hoping to invest with Portugal’s Golden Visa Program?
Although real estate is the most common form of investment, it is not the only option.
People can secure permanent residency in just five years and investors only need to stay in Portugal for a minimum of seven to fourteen days a year.
On the lower end of the scale, people can make a €280,000 investment in real estate, however, investments are usually higher.
Meanwhile, it is important to note that a range of factors should be taken into account before making an investment decision – not just the price.
The area, the state of the property, transport links and local facilities are also key points to take into consideration.
Another option for investors is to transfer capital totaling at least €1 million into a Portuguese bank account, or by creating at least 10 jobs in the country.
Bouncing back from financial crisis
Launched in 2012, the program was designed to generate major investment into Portugal and it has done just that.
It has encouraged several billion Euros in real estate investment and more than 2,000 family applications each year.
Along with countries around the world, Portugal’s economy was destroyed by the global financial crisis in 2008.
But rather than sit back and watch as the damage unfolded, the country’s leaders spurred into action and took steps to combat the economic destruction.
The Golden Visa Program played a crucial role in kick-starting the country’s economy and in ensuring that it bounced back strongly.
But nine years after being introduced, the scheme continues to attract major investment.
Individuals from far and wide have taken advantage of it and that is expected to continue.
USA citizens have the opportunity to not only move abroad and make a major investment, but also to play their part in strengthening the Portuguese economy.
A new life in warmer climates
Investing into the real estate market is without a doubt an extremely inviting offer, with the potential to generate significant returns for individuals, while helping to secure permanent residency in the beautiful country.
Another major factor which attracts people to the program is the visa-free travel across the Schengen member states that it permits.
Compared to the hustle and bustle of parts of the USA, Portugal’s warmer climates offer something extremely different.
The peace and tranquility of Portugal, along with its cultural appeal, cuisine, sunshine and lower cost of living are all key factors.
Do your research and budgeting
While the benefits of leaving your home in the USA behind and setting up a new life in Portugal, potential investors must carry out their own research, due diligence and budgeting before making a final decision.
But, if you are ready to embark on this adventure, the dreamy landscapes of Portugal await you.
This could be the opportunity that you have been waiting for. The chance of a lifetime to move to a dream destination, while also making a significant investment.
Portugal is ready for you. So what are you waiting for?
Story by Martin Zlatev