Portugal’s golden visa is the best way to move to Europe with real estate opportunities and travel objectives? Why live and invest in Portugal ? Because is one of the major touristic attractions of Europe and the perfect retirement home! Can foreigners get a mortgage in Portugal? For a Golden Visa Portugal Mortgage, you should ask the local banks located nearby the property. There are no restrictions on foreigners. However, you still need to get your Portuguese Taxpayer Identification Number (TIN) first. Should I hire a lawyer for the Golden Visa Program 2020? Engaging a Portuguese lawyer will make your life easier during the Portugal Golden Visa processing time and protect you from entering in overpriced transactions. The Portuguese tax law requires the appointment of a Portuguese tax representative. Local lawyers are included in our pricing.
Usually, you complete the application through your lawyer, and it can take up to 6 months for approval. It is technically possible to do everything on your own, but I wouldn’t recommend it. If you want to bring along your family members, their application is submitted simultaneously. A processing fee of €532.70 is paid for the first applicant and €83.10 for each of the remaining family members. When your application is approved you pay an approval fee of €5,274.40 for each applicant. After ten to twenty days, you should receive your residency card valid for one year.
In order to be eligible for the scheme you must conduct an investment activity either as an individual or a company set up in Portugal or another EU Member State, meet the time requirements above and do one of the following: Purchase real estate property with a value of at least 500,000€ (five hundred thousand euros) or 400,000€ (four hundred thousand euros) for the Algarve as it is classed as a low-density area. Read even more information on Do you want to have freedom get the golden visa today.
Established in 2012, Portugal’s Golden Residence Permit Program (ARI) enables non-EU/EEA citizens to obtain a special residence permit in exchange for a 5-year investment in Portugal. What’s unique about the permit is that the investor only has to spend about seven days per year in Portugal to maintain the residency, while still reaping all the benefits of being an EU resident—including visa-free travel in the entire Schengen area. By far the leading share of Golden Visas have been issued to Chinese nationals (although their share has been declining recently), followed by Brazilian, South African, Turkish, and Russian citizens.
As well as being able to experience the Portuguese lifestyle for yourself, the Golden Visa scheme will also provide you and your family with the opportunity to explore the rest of Europe and discover all that it has to offer. Those enrolled in the scheme will benefit from the following: No visa required to enter Portugal , Visa exemption for travelling through Europe (within Schengen Area). You can live and work in Portugal. Dependent family members can also obtain temporary Portuguese residency. See even more info at this website.