Obtaining Resident Permit by Investing in PortugalBy Alison Hojbjerg • Feb 6th, 2013 • Category: Property News & Info
Last week, the Portuguese government launched a campaign in an attempt to attract foreign citizens to invest in Portugal. This should prove to be very attractive to non EU members seeking to obtain a residence permit. The so called “investment resident permit” (IRP) is also referred to as “The Golden Visa”.
This status can be achieved by:
1. Acquiring real estate of over Euros 500.000
2. Transferring capital of over Euros 1 million
3. Creating 30 jobs
with a general requirement that these investments are maintained for at least 5 years.
During the “Living in Portugal” campaign, the minister of finance said that there were plans to invest heavily in the residential tourism segment in order to attract high-end investors who would then also contribute to job creation in the real estate industries. In partnership with the Portuguese Resorts Association and the government, the tourism board will launch a road show later this month to show case some of the holiday homes available on the market to countries including the UK, Germany, Sweden, Russia and Holland.
The minister also said that the tax regime in place is now “one of the most competitive tax regimes in Europe”, essential to attract foreign investment.