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Portugal

Portugal boasts an excellent reputation and is considered one of the world’s most globalized and peaceful nations, with a high quality of life and a very high Human Development Index ranking. It is among the oldest nations in Europe with a rich history, lively culture, exceptional cuisine, stunning beaches, and idyllic countryside.


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Country Information 

Portugal is the westernmost European country. With its rich history, it stands among the oldest countries in Europe and is considered one of the world’s most globalized and peaceful nations. Portugal is considered very safe and has a low crime rate.

Population:

10.2 million

Languages:

Portuguese, with English widely spoken

Economy:

Business-oriented services and manufacturing-based

Currency:

Euro





​Living In Portugal — An Overview


Portugal is one of the oldest countries in Europe, has an excellent reputation, a very high Human Development Index ranking, and a high level of security, making it one of the world’s most globalized and peaceful nations.

Portugal is a member of the EU and Europe’s Schengen Area and has been using the euro as its currency since 2002. Portuguese is the official language, but English is also widely spoken, particularly by younger generations and especially in the tourist regions.

While Portugal is shifting towards offering business-oriented services, a third of its economy remains in manufacturing. It is also the world’s largest supplier of cork and enjoys the benefits of a strong tourism industry. With little of its own hydrocarbon energy resources, Portugal is committed to creating renewable sources of energy such as hydro, wind, and solar power. Over 40% of the energy created in Portugal is from such resources, including the most efficient wind tower in the world.

A relatively small country of approximately 10.3 million people, Portugal boasts a rich history, a lively culture, exceptional cuisine, a mild climate, stunning beaches, and an idyllic countryside.

Portugal has produced streamlined legislation to create an efficient process by which non-EU citizens may obtain a residence permit based on investment. The legislation offers three qualifying routes of committing funds to obtain residence status under the Portugal Golden Residence Permit Program, which must be maintained for a minimum period of five years. After five years as a resident, the applicant is eligible to apply for Portuguese citizenship.








Benefits of a Portuguese golden visa


  • Visa-free travel in Europe’s Schengen Area and the right to live, work, and study in Portugal
  • Eligibility to apply for citizenship after five years while keeping other citizenship(s)
  • Low physical presence requirement (14 days during the first two years and 21 days for the subsequent three years)
  • Excellent international and Portuguese schools and universities
  • High quality of life, local cuisine and wines, rich culture, mild climate, and a high level of security
  • International quality healthcare clinics and hospitals.


Portugal golden visa requirements

Applicants can choose any one option in any one of the following categories:

Capital transfer
One of the following options:
- EUR 500,000 for the acquisition of investment fund or venture capital fund units committed to the capitalization of companies incorporated under the Portuguese law, with a maturity of at least five years and with at least 60% of the investment portfolio in companies with a registered office in the national territory (real estate entities do not apply)
- EUR 500,000 for research activities of public or private entities that are part of the national scientific and technological system EUR 400,000 in a low population density area*
- EUR 250,000 in support of artistic production or in the recovery or maintenance of national cultural heritage EUR 200,000 in a low population density area*
Business

One of the following options:

  1. Creation of a minimum of ten new jobs
    • Eight new jobs in a low population density area*
  2. EUR 500,000 for the incorporation of a commercial company that is registered and headquartered in Portugal, creating a minimum of five permanent jobs for a period of three years (or for the increase of the share capital of a company already incorporated and headquartered in Portugal, creating at least five permanent jobs or maintaining at least ten jobs for three years)
*A low population density area is defined as less than 100 inhabitants per km² or with a GDP per capita below 75% of the national average.

Procedures for the Portugal golden visa

Applicants are introduced to the Portugal team to commence the process, either remotely or in person. This includes preparing legal documents, obtaining a taxpayer number, selecting a qualifying investment option, and opening a bank account. Once the investment is finalized and personal documents are collected, the application is submitted online and accepted by the government authority.
The client and family then visit Portugal to provide biometric data and original documents at the immigration office.
​

Upon application approval and payment of the residence card(s), a two-year residence permit is issued, renewable for one subsequent period of three years. The client can thereafter either extend the temporary permit again, apply for permanent residence, or apply for citizenship.



Portugal Real Estate

Everything you need to know about acquiring premium real estate in Portugal.



Minimum real estate investment

Not applicable

Type of​ ownership

Shared Ownership

Rental income opportunity

3-5% on residential property

Holding period of real estate

none

Portugal real estate

Portugal has long been a popular choice for expatriates. In general, the cost of living in Portugal is low in comparison to other European countries, and there are several advantages to purchasing real estate in the country. Portugal’s non-habitual resident tax regime provides excellent tax benefits including a set 20% tax on personal income over a 10-year period and no double tax charges on self-employment, employment, or pension income derived from abroad.

Recent legislation has determined that foreign retirees can live in Portugal and receive a tax-free pension income. The Portugal Golden Resident Permit Program allows foreign citizens to purchase a property in the country for a minimum value of EUR 500,000. The purchaser is eligible to apply for residence, and if the investment is maintained for a further five years, they can apply for Portuguese citizenship. The program has been a great success and has prompted an increase in the purchase of real estate in Portugal by foreign investors.

Acquisition of property in Portugal

Buying a new property in Portugal can be expensive, but ultimately, the cost depends on the location and the age of a house. In some locations such as city centers or historic villages, the new property option may not be possible. Buying an existing house usually requires less paperwork both at a contract level and when requesting financing. In Portugal, a house can be occupied immediately after the deed has been signed and registered. This is an important factor for some, particularly if there is an urgent need to relocate or to generate profitability by offering a property in the holiday home rental market, for example.



Are there any restrictions on the acquisition of real estate in Portugal by foreign buyers?

There are no restrictions on foreign buyers purchasing a property in Portugal. The only pre-requisite for potential buyers is having a Portuguese tax number, which is needed at the time of purchase. ​

How can immovable property in Portugal be acquired?

Immovable property in Portugal can be acquired locally or remotely (that is, it is not essential to be in the country at the time of acquisition). The real estate industry in Portugal exists as it does throughout Europe and has evolved towards a more interactive and online approach, such as through virtual tours, which is particularly beneficial to potential foreign buyers.

Does the applicant need to open a bank account in order to purchase property, and if so, what is the procedure?

The applicant must have a Portuguese bank account as well as a Portuguese taxpayer number when purchasing a property. Assistance is provided in preparing all the necessary documentation for acquiring a taxpayer number and opening a bank account, and this can be done locally or remotely.

What additional expenses will the real estate transaction incur?

Anyone purchasing a property in Portugal will pay property transfer tax, stamp duty, notary fees, and registration fees (signing of the title and registration of the deed is done at the land registry). Stamp duty is fixed at a rate of 0.8%. Deed costs vary according to the purchase price. Registration costs are EUR 250 per property. Other property transfer taxes include rustic articles at 5% and commercial, services, or land tax at 6,5%.

What kind of returns can be expected from property investment in Portugal?

Net yields range from 3% to 5% on residential property, 5% to 6% on commercial property, and 7% to 8% on industrial property.

How is rental income taxed?

Rental income is taxed at a flat rate of 28%. All expenses related to the property are deductible, such as insurance costs, levies, monthly costs, municipality tax, rental and property management fees, and any maintenance done on the property prior to or during the rental period.


Portugal residence by investment program frequently asked questions

The Portugal Golden Residence Permit Program, also known as the Portugal Golden Visa, offers residence to individuals and their families through significant economic contributions to the country.

Investment options include transferring capital into investment or venture capital funds, research activities, or cultural support. Applicants can also invest in low population density areas, create new jobs, or incorporate or expand a commercial company in Portugal to create or maintain jobs.

Benefits include the right to live, work, and study in Portugal, visa-free travel within the Schengen Area, and eligibility for Portuguese citizenship after five years.

The minimum investment starts at EUR 250,000.

Processing times for residence by investment applications may vary. Please contact us to find out more.


Yes, the main applicant can include their spouse, dependent children, and dependent parents in the application.

Applicants must spend at least 14 days in Portugal during the first two years and 21 days for the subsequent three years.

Required documents include a valid passport, proof of investment, health insurance, a clean criminal record, and other supporting documents.

Yes, after maintaining residence for five years, investors may be eligible to apply for Portuguese citizenship.

Applicants must make a qualifying investment, submit the application with the necessary documents, undergo a due diligence process, and visit Portugal during the application period.