Важная финансовая информация о стране Portugal Golden Visa

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Portugal Golden Visa

Choosing a place to live is possibly the most crucial choice anyone faces. So many issues depend on this decision that we could not list them all if we wanted to. This is even more pressing when choosing a place for your family office.

Fortunately, some countries strive to make that decision a breeze. Today we are talking about one of those countries that have decided to bet on becoming one of the best destinations to live within Europe: Portugal, the land of Lusitanian heritage.

Portugal is one of the favorite destinations for tourists, investors, and people who want to live in a first-class jurisdiction with fiscal facilities within Europe. The key? Its Golden Visa program is widely considered to be the best in Europe.

For all those looking for a safe place to shelter from financial insecurity, the persecution of authoritarian governments, or the anti-business policies of socialist countries, Portugal is presented as an option that combines European standards with more affordable costs.

Why Portugal?

Portugal today is one of the European countries with one of the best residency by investment programs in Europe. These are the main reasons why more and more people choose to obtain Portuguese residency:

Living the goods of Europe at a lower price: Portugal is one of the cheapest countries in the European Union but maintains the infrastructure and quality of services of the most avant-garde countries in the European continent.

When you compare the cost of living in the main Portuguese cities with other European cities, you are inevitably surprised. A person can live comfortably in Portugal with €2000, a figure far below what other European jurisdictions require. Due to the low prices and the country's beauty, there is no doubt that if your project is to settle in Portuguese lands, it is a good idea!

One of the most peaceful countries in the world: Portugal is today the third most peaceful country globally, so living in anguish and concern for your safety would be a thing of the past if you decide to move to Portugal.

Going for a walk in Portugal, unlike other European jurisdictions, does not pose a greater danger to anyone, making the country ideal for emigrating with your family and enjoying a quiet life.

Very high quality of life: from those who have gone to live there to the tourists, everyone agrees: Portugal is a welcoming country, where the pleasure of living is contagious! With 300 days of sunshine a year, what better than a walk on the beach every day?

Also, the Portuguese, besides having a hospitable country, are friendly, very friendly! Whether you are a retiree, a temporary resident, or a worker, your welcome will be charming thanks to the locals, who will be happy to help you discover the Portuguese way of life.

Besides, some organizations listing countries with the highest quality of life put Portugal as the first European country on the list, even ahead of Malta and Spain.

European life with a tropical climate: Portugal has 300 days of sunshine a year. That's why it's good to live all year round in Portugal. The winters are mild, the summers not too hot, with only a few differences in temperature between the north and the south, due to the Atlantic Ocean's presence. The north is, therefore, a more humid place.

Political stability: Portugal had a hard time with the European debt crisis, which caused its rulers to prioritize political stability to concentrate their efforts on moving the Portuguese economy forward. Even after having successfully emerged from one of the biggest economic crises in contemporary history, the Portuguese government continues to bet on working in consensus with all the actors in the country's politics. This is the opposite scenario that countries with populist and authoritarian leadership experienced, which is another reason why Portugal is a safe place to live and do business.

Relaxed fiscal environment: the tax burden in Portugal is lower than in many of its European neighbors. Furthermore, on the island of Madeira, there is a free economic zone called the Madeira International Business Center, which allows entities to operate with tax advantages such as the fact that only 5% of income is taxed until 2027.

The Euro: one of the most critical aspects of the country you choose to live in is the currency they use and its stability and value against other currencies. In Portugal, this concern is practically non-existent because the official currency is the Euro, which enjoys an enviable reputation and has one of the best valuations in the world.

Becoming a resident of Portugal with the Golden Visa

The Portuguese government's work over the past few years has resulted in one of the most attractive and affordable investment residency programs in the entire European Union.

The most successful residency program in Europe is the Portuguese. Known as Golden Visa, this program allows a person who is not from the European Union, the European Economic Area, or Switzerlan, to invest in Portugal and obtain a permanent residence permit for that person and his direct relatives.

The advantages of becoming a Portuguese resident through the Golden Visa are composed by the following:

You have permanent entry and free movement throughout the Schengen area (26 European countries).
After five years, you can apply for Portuguese citizenship.
Your dependent children and their dependent parents will also qualify for the same benefits as the primary investor.
You only need to spend seven days in the first year and 14 days in the following years in Portugal (consecutively or not).
The program is not blacklisted by the Organization for Economic Cooperation and Development (OECD), unlike many other Golden Visa programs
You have the option to become a non-regular resident of Portugal and pay reduced taxes in Portugal
You can choose from a range of relatively affordable investment options
You have the security of a second home in a safe and stable country
You have freedom of opportunity for you and your family.

The Portugal Golden Visa

The Golden Visa program in Portugal was first created in 2012 to attract foreign investment to the country. Today, it has generated more than 4.7 billion euros in direct investment in Portugal up to July 2019. Since the program's introduction, more than 7,700 investors have benefited from the program, along with more than 13,000 family members.

The Golden Visa Portugal program requires a minimum investment of EUR 280,000, and you can choose from a variety of investment routes.

A nice advantage of the Golden Visa Portugal is its low "permanence requirement." For your residence to continue and to renew the Golden Visa, you only need to spend seven days in Portugal in the first year and 14 days in the following years (consecutive or non-consecutive).

This makes the program particularly suitable if you do not intend to live permanently in Portugal, but wish to access the benefits of EU residence and eventually citizenship.

This is an excellent benefit for those who want to establish a family office in Portugal but do not want to relocate there permanently. Thus, it will allow you to have a tax-optimized safe second option.

At the same time, you can apply for the Golden Visa for the following family members:

Spouse or legal partner
Children under 18 years of age.
Dependent children under 26 years of age provided they are unmarried and enrolled as full-time students.
Parents of either spouse if over 66 (or 55 and dependents).
Siblings under 18 years of age on behalf of their spouse or partner if legally responsible.

As mentioned above, the "Permanency Requirement" is one of the Golden Visa's main benefits. Once you have the Golden Visa, you must renew your visa after the first and third year, but you will have to spend a few days in Portugal, in the following order:

In the first year, you must spend at least seven days in Portugal; and
In the second year to the fifth year, you must spend at least 14 days in Portugal (whether or not they are consecutive) during the following two years.

As for the tax theme, as a holder of Golden Visa Portugal, you will not have to pay any additional tax on your income produced outside Portugal.

However, you may wish to take advantage of the generous non-regular tax regime by establishing your tax residence in Portugal. This can help you maximize the tax efficiency related to your overall income.

The Non-Traditional Tax Regime in Portugal gives qualifying individuals the ability to become tax residents of a white-listed jurisdiction, while legally minimizing income tax on specific categories of non-Portuguese income for ten years.

Golden Visa holders automatically qualify for the non-regular Portuguese tax regime (NHR). Here is the list of types of income that may qualify for tax exemption:

Dividends
Interest
Real estate income
Capital gains from the sale of real estate
Occupational pensions
Royalty
Business and self-employment benefits derived from eligible occupations (but note relevant double taxation agreements in this regard)

This has made the Golden Visa of Portugal program one of the leading investment residency programs in Europe.

How to obtain the Portugal Golden Visa

To apply for this program, you must make a qualifying investment in the Golden Visa application. In this case, several investment routes fit different investor profiles:

Creation of 10 new full-time jobs

You should do this with a single-member limited company in Portugal. Starting a business in Portugal is by far the most popular option among those who opt for the Golden Visa. Why settle for a residence only when you can get one and make money along the way?

If you want a safe option that is profitable enough to live the Portuguese pleasures without a problem, then the offer from our experts will suit you: a TEVI, a simple business, that requires little initial investment, but has a more than attractive ROI. TEVI stands for Transfer Electric Vehicles Investment In a nutshell, a is a small transportation company consisting of a team of:

Nine drivers
An executive assistant
Two shifts per day
Four electric vehicles
A 200km journey per day

The simplicity of this business model means that it does not require as much maintenance, complex accounting services or huge investments. And at the same time it takes advantage of a market in full expansion (electric vehicles).

Our team can help you to start and operate this business. If you want to know more details about this offer do not hesitate to check our article about Portuguese companies here.

Real estate investment

The golden visa of Portugal can also be obtained by investing in real estate. The advantage of this program over others is that you have four different options that fit different types of budgets:

You can invest €500,000 without restrictions or;
€400,000 in properties located in low density areas (less than 100 inhabitants per km2);
€350,000 in properties over 30 years old that are undergoing restoration work;
€280,000 in properties over 30 years old that are in restoration work and are also located in low density areas (less than 100 inhabitants per km2)

Regardless of which option you choose to obtain the Golden Visa, you will be able to purchase one or more properties of any type.

The amount of the investment is net, which means you will need to keep in mind property taxes (maximum level for transfer tax on residential properties is 6% and Stamp Tax is 0.8%, for Commercial Properties the transfer tax is 6.5% and Stamp Tax 0.8%). And, if you decide to lease the property you buy, you can use that income to pay the property taxes without as much effort.

Existing business investment

Investment in an existing business registered in Portugal, or at least €350,000 to incorporate or increase the share capital and create at least five permanent full-time jobs for a minimum period of three years.

Bank account deposit

The transfer of at least €1 million to a bank account in Portugal for a period of five years. The transfer certificate must be issued by a financial institution for the transaction to be valid to apply for the Golden Visa.

Investment fund

Another option to apply for Portugal's Golden Visa is to invest at least €350,000 in a private investment fund or a venture capital fund generated to capitalize Portuguese companies. The requirement for investment in one of these funds to be eligible for the program is that the value in Portuguese assets must be at least 60%.

Requirements

The documents the Portuguese government requires from those who apply are:

Passport copy or travel document with a validity of at least three months;
Valid Schengen visa, or a short term visa - For the Residence Permit to be granted, non-EU citizens must validate their stay in Portugal within 90 days of their first entry into the country. A short term visa - Schengen visa, may be issued by the Portuguese consulate in the country of residence.
Proof of legal entry and stay in Portugal is mandatory;
Police clearance report of the country of origin or of the country where the applicant has resided for more than one year, duly recognized by the Portuguese authorities (authentication by the Portuguese consulate or apostille) (Required for all applicants over 16 years old);
A sworn statement by the foreign national, attesting that the same will comply with the minimum quantitative and time requirements regarding the investment activity in Portugal;
Declaration issued by the Portuguese Tax Authorities and social security attesting the absence of any debts of the foreign national to the said entities;
Proof of investment.

As you have seen so far, Portugal makes it quite easy to get a Golden Visa if you have the means. But you're probably wondering what the fees are involved in the process, so without further ado, let's get to it.

Fees for the principal applicant

•Analysis fee: €532.70 (for the Portuguese government to review and approve your documentation)

•Issue of the residence card after approval of the documentation: €5324.60

For each family member:

•Analysis fee: €83.10

•Issue of residence card €5324.60

Renewal fees:

•For the principal applicant and their family members, the renewal fee is €2666.30

If you plan to obtain citizenship and open the doors of Europe for you and your family once and for all, you must bear in mind that you will have to go through three renewals. But once you get your citizenship, you can forget about all these fees.

Who we are and what we can do for you?

At Mundo and NTL, we have been working for more than 25 years on the best ways to offer options to safeguard your assets and freedoms to investors, high net worth individuals, and families worldwide.

The last three decades have been enough for us to see that there are increasingly few areas where freedom, ease of doing business, and security are present at all times. But far from being discouraged by the growing loss of freedom that the world is experiencing, we have consolidated our values and services.

That is why today, we have a network of recognized experts that allow us to offer our distinguished readers the best residency programs to escape to a safe and free place. And the Golden Visa of Portugal is one of the latest additions to our list of offers.

If you have already decided to make your way in one of the best jurisdictions in the European Union and enjoy the benefits that Portugal offers its residents, do not hesitate to contact us to meet the team of experts that will make it happen!