COUNTRY PROFILE
• Capital: Lisbon
• Population: 10.7 million
• Area: 92,345 sq km (35,655 sq miles)
• Major language: Portuguese
• Major religion: Christianity
• Life expectancy: 78 (men) 85 (women)
• Currency: Euro
• Exchange Rate (as of May 2018): US$ 1.00 = 0.841852 EUR
The Portugal Citizenship(Golden Visa Program) was developed by the Portuguese Ministry of Foreign Affairs in October 2012, to promote foreign investment and to provide opportunities for Non-EU citizens to live and travel within a secure and stable EU country.
Foreign investors are invited to pursue investment activities in Portugal through the transfer of capital, creating jobs or acquiring real estate, in return for a five year Residence Permit that allows its holders to work, live, study and travel visa free in Schengen countries.
The investor first obtains a Schengen Visa valid for one year under the Portugal Golden Visa Program. After one year, a Residence permit is issued and this is then renewed at 3 and 5 years respectively. After 5 years the investor may then apply for a Permanent Residence Permit. The investor may apply for Citizenship and passport after 6 years of residency in Portugal
| Type of Program | Portugal Citizenship by Investment without the need to live in the country for extended period of time. Allows direct access to Portuguese citizenship after 6 years. |
| Type of Investments | Invest over EUR 500,000 in Real Estate (any type of property anywhere) OR choose a property that must be more than 30 years old to benefit from a reduced minimum investment of EUR 350,000 in High Density Areas (Lisbon, Porto etc) and EUR 280,000 in Low Density Areas. |
| Minimum Investment | Real estate minimum investment: €280,000 – €350,000. |
| Dual Nationality Permitted | Yes. |
| Personal Visit Required | Yes, for the submission of biometric data and 1-2 week per year for 5 years. |
| Minimum Stay | 7 or more days in the first year. 14 or more days in the second and third years. 14 or more days in the fourth and fifth years. |
| Capital Gains Taxes | Capital gains realized by non-tax residents on the sale of Portuguese properties are taxed at a flat rate of 28%. |
| Personal Income Taxes | Non-tax residents are only subject to taxation on their income generated in Portugal. Incomes generated outside of Portugal are not subject to taxation. Residents of Portugal are subject to taxation on their worldwide incomes and capital gains with exclusions according to double tax agreements. Portugal has in place a non-habitual tax residents program that allows citizens that have not resided in country in the last 5 years to apply for tax benefits if they decide to relocate to Portugal. |
| Business & Corporate Taxes | Corporate income tax rate of 21%. Withholding tax rates (%) (dividends / interest / royalties): 25% VAT rate: standard of 23% for mainland, intermediate rate of 13% and reduced rate of 6% apply. Rates in Madeira are 22%/12%/5% and in Azores 18%/10%/5% |
| Property Taxes | Buying Property: 1) Municipal Transfer Tax (IMT) – 6 to 8% 2) Stamp Tax – when signing a deed, the purchaser must pay the stamp duty at 0.8%. 3) Annual City Hall Tax (IMI) – tax payable by whoever owns the property on 31st December. The rate varies between 0.3% and 0.5% for urban properties and 0.8% for rural properties. |
| Processing Time | 90 days for residence permit cards (after 5 years can apply for citizenship). |
| Passport Validity | 10 Years. |
| Restricted Countries | None. |
| Visa Free Travel | Over 130 countries visa free. |
| 4th Best Passport in the World. |
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