Portugal’s Golden Residence Permit Program (ARI) was established in 2012. The Golden Visa Program launched by the Portuguese Authorities is a fast track for citizens from non-EU countries to obtain a fully valid residency permit in Portugal (“Golden Visa”).. The Portugal Golden Visa is a temporary residency permit initially valid for a period of 12 months, after which it can be successively renewed for a period of 2 years thereafter, provided that the applicant continues to be able to prove compliance with the program’s requirements. Investors, who wanted to have a vacation home in popular Mediterranean cities like Barcelona or Madrid, typically opted for this Spanish Golden Visa, shooting two birds with one stone. Explore citizenship and residence by investment programs through our transparent and research-based approach. The permit is renewed every five years, provided that the main applicant preserves his or her investment. Starbucks...or maybe even your arch-enemy? The Golden Visa fees can vary, depending on the situation and on the person. All three countries have multiple investment routes that lead to the Golden Visa residence permit. Why Nigerians are interested in Citizenship by investment? Greece is closer to you if you come from middle east or asia. By Tricia Pimental. There is no doubt that Portugal, Spain, and Greece are all beautiful Mediterranean-like countries. Spain’s program saw a tremendous boost in 2017, growing by 140% in that year alone. Our platform is free to use and we do not charge any fee to clients. VAT exempted, Global House Prices 2020 (effect of covid from 2019), 0.7% for property above 600K euro and 1% for 1M euro property, NHR status issued for 10 years a flat rate of 20% if the income is derived from high value activities, Non-Dom Regime In The Greek Tax Bill 4646/2019 flat fixed tax 100,000€, Taxed both as capital gain (15%) and personal income tax (22% to 45%). Greece. She’ll describe all the peculiarities of the Portugal residency program, its advantages and disadvantages, and tell you about similar cases from her practice. The residence permits may be renewed every five years. There are seven investment options to obtain the Golden Visa in Portugal: 1. Get free access to our community & exclusive content. Visa-free travel. Get In Touch Now. Greece has rivaled Portugal in recent years in terms of the most popular citizenship by investment programs in Europe. If your preferred route of investment is real estate, then each country allows the investor to rent out the investment property. This shows housing prices in Portugal and Greece have largely resisted Covid. Permanent free entry and circulation in Portugal and the other 25 Schengen Space countries. Portugal levies no inheritance tax a better program than Greece. Gate community! 7. Note: Due to a pandemic related procedural change in 2020, each permit, including the first one, is valid for two-years. The golden visa in Portugal is designed to encourage investment from non-EU/EFTA nationals. Note: Global property prices Q2 2020 shows the affect of Covid-19 on property market published by Knight frank. The Portuguese passport allows the … Although Portugal’s Golden Visa program outweighs the counterparts in Spain and Greece, the family reunification allows for the most flexibility in the Greece Golden Visa program. The D7 (or passive income) visa is mostly targeted for retirees and people living off their own foreign income (investors, freelancers, remote workers) who want to live in Portugal full-time. The editor of the article is Christian Nesheim. Portugal is close proximity geographically, this way you dont have to fly far. Not only has the Golden Visa program helped people live and work in the area, but it has also done wonders for the local economy. Portugal’s Golden Visa program was launched in October 2012. It is also important to take inheritance tax into consideration, because when you die the property inherited by family member will be subjected to tax. The Greek Golden Visa program enables an entire non-EU family, including dependent children up to age 24 and the parents of both spouses, to obtain permanent residency status in Greece within just 3 months (in some areas it takes less time) with a real estate investment of just €250,000. Greece issued the largest number of Golden Visas in 2019: 6044, and in 2020 the trend will only grow. Spain vs Portugal Golden Visa: an overview With golden beaches, enticing foods, and excellent weather, both Spain and Portugal offer safe and stable lifestyles in the heart of Europe. Serving HNW clients since 2011. The Greek entry level tax rate on income is 22%. Years 2 & 3: your permit is renewed for two year periods in each of these years. Statistically, let's compare the investment demands of these three countries in the context of Golden Visa. First, let’s take a brief look at the three programs. The Greek Golden Visa program launched in July 2013. How much is Antigua Citizenship by investment? Under the Golden Visa program, non-EU citizens simply need to carry out one of the investments set out in the law to qualify to obtain a residency permit in Portugal. Why Did Greece’s Golden Visa Performance Fall So Far Behind Portugal’s in 2020? Spain Due to COVID-19, all three countries temporarily suspended the immigration offices in charge of issuing the Golden Visa permits in 2020. Privacy policy. There is no minimum stay requirement and children up to the age of 21 are included in the family application. 7. some ideas out there. Get answers to all of your questions in the Nomad Portugal is an extremely family-friendly nation, and the Golden Visa Programme extends to dependants, providing an excellent option for families seeking a European base. Your guide to a location-independent life. Golden Visa Greece offering residency without citizenship Launched in July 2013 the Greek golden visa programme grants a five year residency visa in return for an investment in real estate. We'll assume you're ok with this, but you can opt-out if you wish.Accept Reject Reject The applicants enjoy free travel within the European Schengen visa zone. The Portuguese Golden visas offer residency to foreigners, who invest in properties, set up tech companies and create new jobs. Spain initially issues a Golden Visa permit that is valid for one year. To apply for the golden visa program in Greece, the applicant must invest at least EUR 250,000 in real estate or a new business in Greece. Portugal also offers a Golden Visa program, designed to boost the Portuguese economy by attracting foreign investment from non-Europeans. The Ultimate Guide to the Portuguese Golden Visa, How to Find Portugal's Best Real Estate Deals, The World’s Best Bank Accounts for International Travelers and Nomads, The Best Business Bank Accounts To Open From Anywhere, My Top Resources for Nomads, Travelers, & Expats, The World's Best Travel Insurance for Long-Term Travelers, Real Estate €350,000; Rehabilitation of a 30+-year-old property, Real Estate in Low-Density Areas; €280,000/€400,000, Investment in National Heritage, Arts, and Culture: €250,000, Right to live in Greece (not the right to work), Visa-free travel within the European Schengen Area, Low stay requirement in Portugal: 7 days/year on average, Spouse, Dependant Children, Dependant Parents, Spouse, Dependant Children, Parents, Parents in Law, Spanish Language Test, Spanish Citizenship Test, Greek Language Test, Greek Citizenship Test, Seven days/year for five years of residence, Ten years of residence, where the majority of each year is spent in Spain, 183 days/year for seven years of residence, Yes: Non-Habitual Residence Program; exemption for ten years, Yes: Proposed in 2020; 7% flat rate for ten years, 533.90 euros (+ 83.30 euros/family member), 2,000 euros, (+ 500 euros/family member older than 21, + 150 euros/family member under 21), 2,000 euros (+ 500 euros/family member older than 21, + 150 euros/family member under 21), It can lead to citizenship after five years of only spending an average of seven days a year in Portugal, A wide variety of investment options to choose from, It does not lead to citizenship without actually living in the country more than 183 days of the year for the second half of a period of ten years, Lowest investment requirement among Golden Visa programs; a minimum of 250,000 euros investment in real estate, Fastest processing time at three (3) months, It does not provide the right to work in Greece, It does not lead to citizenship without actually living in the country more than 183 days of the year for seven years. The Portuguese golden visa offers a fast-track to obtaining a residency permit in Portugal, alongside other benefits. The area is not so well known as some but it … A summary of Golden visa investments in Europe in 2019. This is largely due to the two programs being similarly priced and having similar requirements. By the end of 2019, Greece had already received 3.6 billion euros (e.g. You'll select your newsletter preference in Greece has already collected billions from Golden Visa programs in Europe. The parliament is working on creating a program where foreigners, who would like to relocate to Greece and become tax residents pay a flat rate of 7% for the first ten years of their residence. The Golden Visa for Greece is one of the most popular investment visa programs in the EU. The Greek Golden Visa Program does not give you a right to work in Greece. Spain launched its Golden Visa program in 2013. This program empowers a whole family by providing a residency visa for all. 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