Travel attractions and Portugal real estate opportunities for Visa to Europe? Why live and invest in Portugal ? Because is one of the major touristic attractions of Europe and the perfect retirement home! Is permanent residence required? Many investors from South Africa, Lebanon, Russia, Saudi Arabia, Egypt, Libya etc. have not the intention to move out of their home country immediately right now. But they are looking for a Plan B in case of an unexpected event or emergency. They are searching for an option in case of revolution, social unrest or any other emergency situation. Another investor visa, for example, Malta, Italy and Switzerland are imposing a permanent physical presence for granting the residence permit. Not Portugal. That’s the reason why Portugal is so attractive for all investors looking for a Plan B.
In the first two years, you must spend at least a total of fourteen days in Portugal. To renew your residence permit and receive a new residence card, you need to go through a renewal process about one month before your current residence card expires. During the renewal process, you have to retake biometrics (fingerprints, etc.), provide up-to-date criminal records, and pay a fee of €2,637.20 for each applicant. Additionally, the processing fee is again €532.70 for the first applicant, and €83.10 for other applicants (family members). Your new residence card is again valid for two years. During this period you again need to be in Portugal for at least 14 days (consecutive or non-consecutive).
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. Find more info at https://www.idealhomesinternational.com/services/golden-visa-portugal-residency-portugal-property-for-sale-portugal-real-estate-portugal_458.
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.
Initiated in 2012, the Portuguese Government’s Golden Visa Scheme has reportedly seen nearly 5 billion euros already invested into the country and over 8,000 third country nationals granted temporary residence permits (14,000 people if you take into account their direct dependents). It is easy to see why it has been so successful as Portugal, with its warm climate, gorgeous beaches, fine cuisine and laid-back attitude, remains an extremely attractive proposition for those looking to live, retire or invest abroad. Discover additional info on https://www.idealhomesinternational.com/.