Are your parents going to retire in the coming days, and are you pondering over the perfect retirement gift for them? If yes, you have come to the absolute right place. When the talk is about retirement, the foremost thing that tops the priority list is the place to settle in. Pensioners wish to live in a foreign country that offers a plethora of benefits in terms of cost of living, landscapes, culture, safety, hospitality, health system, etc. This ensures a safe, secure, and content life post-retirement.
Regarding the ultimate retirement present and the range of assets offered to pensioners, Portugal is the best choice to move in. Nowadays, the entire process of move-in to Portugal has never been as easy as with the Portugal Golden Visa Program. Since its start in 2012, this residency by investment program has gained immense popularity worldwide. As a result, more and more foreign investors are investing in the scheme.
If you aren’t sure yet, read the listed reasons to understand why Portugal Golden Visa is the ultimate retirement present for your parents. But first, let us dive in to know what exactly this scheme is.
What Is Portugal’s Golden Visa Program?
Portugal Golden Visa program, or the residence permit for investment activity (ARI), is a residency-by-investment scheme designed specifically for non-EU citizens. The foreigners get an incredible opportunity to get permanent residency or citizenship in as little as 5 years.
Portugal has a huge range of assets in terms of dreamy landscapes, hospitality, mouth-watering food, health system, etc. This range of features makes it an attractive destination for foreigners to move in post-retirement.
The program was launched in 2012 after the country faced an economic crisis in 2008. It was then the government decided to take measures to attract international capital. Since then, more and more foreigners have been investing in this scheme. By far, the scheme has raised more than €6 billion.
5 incredible Facts About The Portugal Golden Visa Program
Now understand the facts about this scheme which are enough to prove its worthiness.
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Access to live, study, or work
You need medical insurance upon obtaining a golden visa and opting to stay full-time in the country. And all thanks to this scheme- an individual gets access to high-quality public services, including medical and education.
Talking about the study, the country has several American internal and British private schools, which are well-known for offering quality education and are based on the Portuguese curriculum.
The investment in the program gives you the provision to work anywhere in the country. You even become eligible to start and run a business in Portugal.
This way, the program provides an opportunity to investors to live, work and study freely in the country.
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Travel and visa-free countries
A successful investment in the scheme offers you visa-free travel within Europe. You get registered in the Schengen area central system. In addition, within only 5 years, you can obtain a Portuguese passport if you wish to get permanent residency or citizenship. And this permits you to be visa-free in approximately 188 countries.
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Family reunification
The application process offers investors incredible opportunities to include main and dependent applicants. So, when you become the main applicant, you are permitted to extend the scheme to include your family members. The family members eligible to be included in the scheme are:
- Spouse
- Children aged under 18 years
- Parents of the main applicant (aged over 65 years)
- Dependent children (aged under 26); only if they are full-time students and unmarried
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Citizenship and passport
After around 5 years of holding a successful golden visa scheme, an investor is eligible to receive Portuguese citizenship or permanent residency. However, they must provide the following documents to qualify for citizenship:
- No outstanding tax payments
- Clean criminal records
- Entered and passed a basic language test in Portuguese
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Tax benefits
Once you have successfully spent more than 183 days of a year in the country, you become a tax resident and start receiving tax benefits. However, a hold of a golden visa or a stay of less than mentioned days won’t bring any tax responsibilities to you. That said, keep in mind the tax regimen in the country is highly favorable, specifically for foreign investors.
Endnote
Undoubtedly Portugal is the perfect choice for pensioners. Considering the range of assets and the residency by investment program, foreign investors should consider living a happy life here after their retirement. And the range of benefits that an individual receives on investing in the golden visa program, Portugal has to top the list of dream countries to move-in post-retirement. So, think no more and give your parents the ultimate retirement present- The Portugal Golden Visa.
