Portugal amongst best countries to live and obtain residency

Forbes has elected Portugal as one of the 7 best places to get residency and a second passport in Europe.

According to Forbes, the American interest in establishing residency or citizenship in Europe has more options today than ever in history…

and they all fall under the extended version of the Golden Visa Programme:

– Purchase of property – at least 500,000€ (combined);

– Purchase of property built at least 30 years ago or located in urban rehabilitation areas – at least 350,000€ (including refurbishment costs);

– Transfer of funds – at least 1M€;

– Investment in research activities conducted by public or private scientific institutions – at least 350,000€;

– Acquisition of shares of investment funds or venture capital funds dedicated to the capitalisation of companies – at least 350,000€;

– Incorporation of a company with head office in Portugal, combined with the creation of 5 permanent jobs or increase of share capital of an existing company with head office in Portugal, combined with creation or preservation of at least 5 jobs for a minimum period of 3 years – at least 350,000€;

– Investment in art and culture – at least 250,000€;

– Creation of a minimum of 10 jobs;

To maintain Golden Visa residency status, one must spend 7 days in the country the first year and 14 days every two years thereafter. Portugal recently lowered the residency requirement before one is eligible to apply for naturalisation from six years to five, making the programme even more attractive. To become a Portuguese citizen, one has to pass a test in Portuguese on the country’s history.

The remaining six countries on the list are Cyprus, Greece, Latvia, Malta, Montenegro and Spain. According to Forbes, Portugal has one majour benefit when compared to these countries: the Non-Habitual Resident tax regime.

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