Portugal Residency 2021 – All You Need To Know About the Portugal Golden Visa
The Portugal Golden Visa Program has proven to be one of the most successful golden visa schemes in Europe. Since its inception in 2012, over 7,800 investors have benefited from the program so far, and it has also been hugely beneficial for the Portuguese economy. As of today, the program has brought in nearly 5 billion Euros in Foreign Direct Investment and still continues to generate massive interest amongst investors. The move to change the Portugal Golden Visa Program which seeks to redirect foreign investment out of the two principal cities Lisbon and Porto where investors flock to mostly, creates a diversion of attention to the job-creation route which would not be affected.
“Now more than ever, is the best time for potential immigrant investors to divert their attention to job creation through establishing a business in Portugal”
1. PROGRAM IN DETAIL
The Portugal Golden Visa was designed to encourage investment from non-EU/EEA nationals. The golden visa program offers a fast-track to obtaining a residency permit in Portugal. The scheme began in 2012, and by August 2019 has been credited with investments of over 4.8 billion euros from over 7,800 investors.
To obtain the Golden Visa investors need to choose one investment option:
- Property investment in Portugal worth at least €500,000 or €350,000 in urban regeneration areas constructed more than 30 years ago.
- Capital transfer of at least €1 million into Portugal.
- Capital Contributions of €250,000 to Portuguese arts, culture, and heritage or €350,000 into scientific research.
- Creation of at least 10 jobs in Portugal through establishing a business with minimum €150,000.
Whichever options investors choose, one thing is for certain that this is a straightforward program which grants investors Portugal residency through investment within the shortest time possible (4-6 months). Aside from granting investors the right to reside in Portugal, the right to visa-free travel throughout Portugal and indeed the entire EU Schengen zone, investors can apply for and receive Portuguese citizenship after just 5 years which makes this program one of the most sought after.
2. WHY IS THE PORTUGAL GOLDEN VISA (NON-HABITUAL RESIDENCY) THROUGH COMPANY ESTABLISHMENT A GOOD OPTION IN 2021?
In a move which has seen the Portuguese Government make reforms to the Portuguese Golden Visa, now more than ever, is the best time for potential immigrant investors to divert their attention to job creation through establishing a business in Portugal. Investors have to understand that the main reason for this reform is that the he Portuguese Government wants the capital coming in through the golden visa channel to fuel business growth and job creation. This move pushes investors to consider the other lucrative channels for investment which will provide them with all the benefits, and is also the more affordable and easier alternative.
Wincore Advisory Group, facilitates such investment into establishing a business that creates 10 jobs in Portugal with access to hands-on-management, for a very minimal investment and fee.
HOW DOES THIS WORK?
- Investor invests in Transfer Electric Vehicles with a minimum capital in the minimum amount of €150,000 with a prospected Return on Investment (ROI) of 8-12% per annum.
- Hands-On Support with setting up the company structure, making the golden visa application, management of the business by a dedicated management team; recruiting the staff and supporting all the company activities.
- You basically invest and get your residency, while we do the rest. It is as straightforward as that!
Through this option Investors enjoy all the many benefits of the Portugal golden visa and returns on the investment, without the high expenditure or the hassle of managing the day to day business operations.
3. WHAT ARE THE MAIN BENEFITS OF THE PORTUGAL GOLDEN VISA PROGRAM?
- Travel Visa-Free to throughout the EU Schengen – 26 countries with your Portuguese Residency
- Initial 1-Year residency given and extendable for another 4 years with possibility to apply for Portugal Citizenship after 5 years.
- Investors and their families can freely reside in the Portugal
- Guaranty a bright future for your family
- Access to one of the best healthcare and education models (free)
- Safe haven for your wealth and your family (Plan B)
- Avoid potential turmoil in your home country
- Apply for Citizenship after you have been a resident for 5 years
- Stable political climate in a highly respected country
- Security & Peace of mind.
- Total confidentiality
- Optimize your wealth management & protection.
- Seize new business opportunities
- It offers investors a diversified economy and a skilled workforce
- Fast and effective way to obtain Residency legally and eventually, EU Citizenship
4. WHAT ARE THE TAX BENEFITS OF A NON-HABITUAL RESIDENCE IN PORTUGAL?
Introduced in 2009 by the Portuguese government to attract ‘high value’ industries and individuals, the Non-Habitual Residence (NHR) in Portugal is essentially a tax holiday for your first ten years living in the country.
Under the NHR, most income from a foreign source is exempt from Portuguese taxation for ten consecutive years, as is income that is taxable in another country. The tax residency is good for 10 years and does not come with the typical obligation that you visit or live in Portugal part of the year to maintain your resident status there.
This NHR scheme possible, in part, due to Portugal’s 71 double taxation treaties. According to the regime, as long as the source country of your income has the power to tax your income (regardless of whether or not they actually apply the tax), Portugal will not tax your foreign-sourced income.
As you can see Portugal is the number one tax choice, so it is not a surprise that Portugal is now a top choice for Ultra and High Net Worth Individuals who wish to take up residence in the European Union.
5. HOW CAN YOU BECOME A NON-HABITUAL RESIDENT IN PORTUGAL?
To qualify for the non-habitual resident program, you must either be a citizen or a resident of Portugal. Residency can be achieved through the Portugal Golden Visa program. In both cases, you cannot have been a tax resident in Portugal at least five years prior to your application to become a non-habitual resident. Obtaining the Golden Visa is a good place to start if you want to become a non-habitual resident in Portugal.
6. HOW CAN WE ASSIST YOU?
We have been helping successful entrepreneurs worldwide to obtain a Portugal Golden Visa. With an unequaled team of expert Citizenship by Investment & Residency by Investment consultants in worldwide immigration programs, Wincore Advisory Group will assist you and your family to choose the most relevant program to reach your targets. Protect your family in a safe heaven, your wealth, your privacy, your investment returns, and freedom.
As your trusted consultant, Wincore Advisory Group will deploy all its efforts to annihilate any obstacles or difficulties that might be surrounding your personal situation so as to be in the best position to obtain your Portugal Residency in fast-track time.
If you wish to discuss the many benefits of obtaining a Portugal Golden Visa or any other immigration program, feel free to contact us.
Wincore specializes in Tax, Corporate and Fiduciary matters. We provide pragmatic, flexible and efficient solutions to individual entrepreneurs, startup businesses, foreign and local SMEs, multinationals, wealthy international families, HNWIs and UHNWIs.
Wincore Advisory Group’s full range of services on : CRS (AEOI) – OECD exchange of information ; Economic Substance Regulations; Trust & Foundation; Asset protection, Estate & Tax Planning; Corporate Services; Sophisticated UAE Sponsorship Planning; Debt Collection Services in UAE; Residency & Citizenship Services ( Foreign second passports).