Portugal has been announced as having the best residence-by-investment program across the globe for the third year in a row.
The latest report by The Global Residence and Citizenship Programs 2017–2018 shows that Portugal currently has the world’s top residence-by-investment program.
Commonly known as the ‘Golden Visa’, Portugal’s residence-by-investment program achieved a score of 79 out of 100 after being assessed on ten indicators: citizenship requirements, compliance, financial requirements, processing time and quality of processing, quality of life, reputation, taxation, time to citizenship, total costs, and visa-free access.
The Golden Visa allows access to Portuguese residence permits, which then entitles the applicant to:
- Benefit from family reunification. They may also gain access to a permanent residence permit and Portuguese citizenship in accordance with the current legal provisions.
- Enter Portugal without the need for a residential visa.
- Live and work in Portugal – bearing in mind that the minimum residence requirement to qualify for the renewal of a Golden Residence Permit is seven days in the first year of residence for entitlement to the first renewal and then 14 days over the two subsequent two-year periods required for the next renewals.
- Apply for Portuguese nationality, via naturalization, in compliance with Nationality Law requirements.
- Travel visa-free within the Schengen Area.
The Golden Visa residence-by-investment program in Portugal has been very popular since first introduced in 2012, and it is easy to see why.
In addition to the Golden Visa program, Portugal has much to offer for overseas property investors.
The country has one of the lowest costs of living in the EU today. Its business-related costs and labour costs are both considerably lower when compared to many other Western European nations, and the crime rate is also amongst the lowest in Europe.
With a wide variety of attractive areas to live, from the bustling city of Lisbon, the spectacular Silver coast, to the ever-popular Algarve resorts. Add in over 300 days of sunshine per year and it is easy to see why Portugal’s residence-by-investment program regularly comes out top.