One of the key benefits of the Portuguese golden visa is the rules on citizenship. Citizenship in any EU country means citizenship of the EU. European Union citizens are able to live and work anywhere in Europe including the UK.
Investors can apply for citizenship in Portugal after six years. That is five years under the investor visa scheme plus a further one year permanent residency. But to achieve this the investor does not have to live in the country. Spending just two weeks every two years in the first five years and potentially no time at all in the sixth year of residency.
The result of this is a route to citizenship without having to live in the country. Hence the attraction of buying a property, renting for income without needing to use that property, and potentially selling once the goal of citizenship is achieved.
To qualify for citizenship investors need to take a basic Portuguese test.
The road to citizenship is key for many of our clients considering a golden visa scheme as part of their long term plan for the family. The route is easier in Portugal than through the Spanish golden visa scheme (where it is 10 years demonstrating residence in the country). Hence the popularity of the investor residency scheme in Portugal which has seen over 400 applications in the first year and now growing month by month.