Of all the Citizenship by Investment (CBI) programs being offered by EU countries in Western Europe, few can match Portugal’s Golden Visa when it comes to value, credibility, passport-power plus location.
Portugal. Just saying it makes one think of a country of such immense beauty, it has consistently been the third most popular holiday location in Western Europe behind heavyweights Spain and France. And while Portugal has had its economic issues over the years, its economy is on the upswing, and its tourist top destinations like the Algarve remain upmarket and as popular as ever.
Portugal shares the Iberian peninsula with Spain, and is the westernmost country on mainland Europe. Despite being on the coast of the Atlantic ocean, Portugal enjoys weather and a climate more akin to its Mediterranean neighbors like Spain and Italy, and enjoys 3,300 hours of sunshine per annum, more than any other country in Europe.
As an investor seeking a Portuguese passport and citizenship, you would be required to purchase prime real estate of the minimum value of 500,000 in an area of your choosing. For this figure you could purchase several fully furnished holiday apartments that can be rented to holidaymakers immediately and earn you an income. You could instead purchase a six-bedroom villa complete with large garden and swimming pool, for your use and also to be rented when you are not in residence.
Almost 1000 Golden Visas Granted Since 2012
Many EU Nations with CBI programs are reluctant to reveal how popular their program is proving to be. Not so Portugal, who have granted citizenship to almost 1000 applicants and their families since the Golden Visa program began in 2012. It’s not hard to see why Portugal’s CBI program is proving so successful. Many of these investors are wealthy Chinese business people drawn to the twin combination of the stability of an EU passport and the beautiful country of Portugal and its warm, friendly inhabitants.
When scanning the prices of Citizenship by Investment programs, one can easily make the mistake of viewing them purely as the price of a passport or the cost of citizenship. Not so with Portugal’s Golden Visa package. So buoyant are Portugal’s tourism and property markets, it may be more logical to think of it as a property deal with citizenship and passport thrown in!
Benefits of Portuguese Citizenship
Let’s face it, lots of countries are vying for your investment right now, and only too keen to hand you a passport in return. A quick look at the 2ndPassports.com homepage reveals that EU nations as varied as Malta, Hungary and Austria, Belgium and the UK are offering programs of varying degrees of cost and commitment. All have their positives and their negatives.
However few come close to offering the balance of an EU passport with all that that entails, to a highly respected Western European nation that is also a sumptuous country with warm friendly people such as Portugal, but with as little demand on your residential time.
Below is a list of the three main benefits of Portuguese citizenship:
6th Most Powerful Passport in the World
In the spirit of the great Portuguese explorers Cristopher Columbus and Vasco de Gama, ownership of a Portuguese passport is a guarantee of freedom of travel. The Portuguese passport ranks 6th in 2ndPassports.com’s World Passport Rankings based off visa-free access to 172 countries worldwide.
The Portuguese passport delivers visa-free access to the entire continent of North and South America, plus the Caribbean and Central American nations famed for banking and tax shelters. Visa-free access is also granted in South Africa, Japan South Korea and Australasia. As an EU member state, Portuguese citizenship entitles the holder to visa-free access to the 26 nations of the Schengen Area.
Only 1 Week Per Year Residency Required
To be eligible for Portuguese residency which is the first step toward full citizenship one only needs to spend one week per year in Portugal. If one decides to take advantage of said residency (which extends to the applicant’s spouse and children), they will find that they can travel freely throughout Western Europe’s Schengen Zone with just their Portuguese residency card.
Recoverable Real Estate Investment
Applicants must invest a minimum of 500,000 in Portuguese real estate, but this can be sold by the owner on receipt of citizenship, which is granted after six years of residency. After those initial six years, the property will have increased in value substantially, plus it will have earned the owner a significant figure in holiday lettings.
Logically, an investor with citizenship in Portugal may choose to expand their property portfolio, rather than reduce it. Certainly it would seem that is exactly what Chinese investors are doing. Most are choosing Portugal as a secondary base, and from there sending their children to the best European schools.
Second Citizenship Programs
If this article has fired your interest in Portuguese citizenship, the next step is to contact us at 2ndPassports.com and we will advise you on what to do next, and guide you through the entire citizenship process. 2ndPassports.com employs its own European based legal team, and they liaise with the governments of all EU nations with CBI programs. We deal with the best real estate developers in Portugal, and can get you a piece of the more lucrative property deals that will see you double and triple your investment in no time.
For further information about all of the excellent Citizenship by Investment programs featured on 2ndPassports.com, don’t hesitate to contact us direct via email, or if you prefer WhatsApp or Telegram. You can also speak directly to one of our expert representatives using our encrypted phone and Skype lines.
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