Portugal may be famous to the rest of the world for its Port wine and soccer superstar, Cristian Ronaldo, but here at Nomad Capitalist, Portugal is much more famous for offering one of the best Golden Visa programs in the world.. As an EU member state, Portugal offers a high standard of living in terms of work, healthcare, climate, infrastructure, stability, … Greece is closer to you if you come from middle east or asia. Can an investor be refused for a Golden Visa at initial application or at renewal? As of 2020, a similar tax incentive program is in the works in Greece. The Greece Golden Visa Program is a residence-by-investment program launched in 2013 that enables non-EU nationals and their family members to obtain permanent residence permits in Greece. 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. Portugal Golden Visa on Track to Raise €800m in 2018 Yes, Portugal Golden Visa DOES Lead to Citizenship, First Cases Confirm Portugal, Spain, Greece: A Statistical Comparison of Golden Visa Rivals Christian Henrik Nesheim Administrator Keymaster 2. Spain initially issues a Golden Visa permit that is valid for one year. Spain’s program saw a tremendous boost in 2017, growing by 140% in that year alone. Golden Visa in Portugal is a governmental programme that grants investors Portugal’s citizenship for investment in different areas of the country. Portugal’s Golden Visa Residency Program. Golden visa Greece Greek permanent residency by investment. This is largely due to the two programs being similarly priced and having similar requirements. This program empowers a whole family by providing a residency visa for all. 7. The golden visa in Portugal is designed to encourage investment from non-EU/EFTA nationals. The second important difference you must be aware is Portugal does not offer instant permanent residency. Specifically, this includes kids up to age 24 and the parents of the investor. SoundCloud. Can an investor be refused for a Golden Visa at initial application or at renewal? Join the most active community for DNs, PTs, online business A summary of Golden visa investments in Europe in 2019. Golden Visa Portugal through property investment. Portugal was, for many years, the unrivaled leader among Europe’s golden visa programs, but was this year suddenly surpassed by 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. 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. Your guide to a location-independent life. Portugal: Though not cheap, the Portugal golden visa is a pioneer of sorts. Years 2 & 3: your permit is renewed for two year periods in each of these years. 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. Aug 13, 2020 The Portuguese Golden Visa program is one of the most popular both in Europe and the world, and for good reasons: You can choose from a range of relatively affordable investment options that will give you both permanent residency and citizenship in 5-6 years. The applicant may file for Greek citizenship after seven years of permanent residency. The common denominator in all of them is the option to invest in real estate. Get In Touch Now. The Portuguese golden visa offers a fast-track to obtaining a residency permit in Portugal, alongside other benefits. Portugal, Spain, and Greece have three of the most sought after residency by investment programs in Europe. Schengen Golden Visa zone countries. At such a pace, Greece has every chance of overtaking Portugal next year. 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. Cyprus vs Portugal golden visa, what’s better depends on what you’re after. Golden Visa in Portugal. Best Citizenships (BC) is a global brand for citizenship and residence planning for wealthy HNW clients. There are no minimum residency requirements to maintain this visa. Below, we will take a look at each program and go through a thorough comparison. Privacy policy. The Greek entry level tax rate on income is 22%. However, I would suggest having a more detailed conversation related to your inquiry before finalizing your decision. There are several investment options, but the most common route is through purchasing real estate worth at least a quarter […] Only if the applicant chooses to spend more than 183 days of a year in the country, he or she becomes a tax resident. The Greece Golden Visa Program is a residence-by-investment program launched in 2013 that enables non-EU nationals and their family members to obtain permanent residence permits in Greece. Year 5: you obtain permanent Portuguese residency for yourself and relevant family members. The biggest advantage of Portugal Golden Visa against the Spain Golden Visa and the Greece Golden Visa is the fact that it leads to European citizenship without the need to reside full time in the country. Regardless of your need or stage, please feel free to ask us any questions you may have regarding the Golden visa programs. Year 5: you obtain permanent Portuguese residency for yourself and relevant family members. Explore citizenship and residence by investment programs through our transparent and research-based approach. The European Commission has been warned on the possibility of these visas to be misused by criminals and the corrupt. Greece is far away if you are from North America, Canada or Brazil. Don't worry, I won't spam you. So far, it’s been successful, bringing in $4 billion in revenue as of the start of 2018. Get free access to our community & exclusive content. The residence permits may be renewed every five years. The scheme began in 2012, and by May 2020 has been credited with investments of over 5.2 billion euros from over 20,000 persons (8,736 investors and 14,936 family members),. Property taxes include 6% IMT and 0.8% stamp duty, Approximately 6.4% (16,000€) for transfer tax, legal fees, land registry and notaries. The Greece Golden Visa was born. It has been particularly popular among applicants from China, Brazil, South Africa, Turkey, and Russia. A Golden visa is a type of residence visa with added benefits, offered by several European countries including Greece. Residents and citizens of Portugal, Spain, and Greece, who spend less than 183 days per year in the country, are exempt from taxation on almost all foreign source income. After 7 years, citizenship may be granted. Greece issued the largest number of Golden Visas in 2019: 6044, and in 2020 the trend will only grow. Greece appears to have the most generous definition of dependants. By the end of 2019, Greece had already received 3.6 billion euros (e.g. How much is Antigua Citizenship by investment? The Portuguese passport allows the … If you are considering moving to or basing yourself in Portugal, you may have come across two popular paths: The D7 visa and the Golden Visa. Our platform is free to use and we do not charge any fee to clients. It offers non-EU/EEA applicants and their families a special residence permit in exchange for a 5-year investment in Portugal. After 7 years, citizenship may be granted. This visa is valid for five years and can be renewed periodically. 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. Thirdly, to decide which program to pick, think about which country is close to you from where you live. Greece plans to relaunch its much-criticized Golden Visa Program, becoming one of the first European countries to reopen its immigration process, after being among the first European countries to close it due to the situation created by the Coronavirus pandemic. Portugal Golden Visa Program. (must spend atleast 2 weeks annually). Although quite similar in principle, the programs vary in certain aspects. Why Nigerians are interested in Citizenship by investment? Once the two years are over, the next permit Spain issues is a five-year permit. We measured on average 30% more requests in 2020 than in 2019 for the Greek golden visa. Here are some of the important differences between the two golden visa programs.. There are seven investment options to obtain the Golden Visa in Portugal: 1. The Greece Golden Visa was born. The most important variance is in the stay requirement. Greece appears to have the most generous definition of dependants. The editor of the article is Christian Nesheim. There is a good chance this procedural will be permanent and the initial one-year permit will always be a two-year permit from here on. 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. Portugal initially issues a Golden Visa permit that is valid for one year. Below, you can take a look at the final verdict on all three programs. Portugal 4.4 billion). Two Experts Answer. Other benefits vary between countries. The Portugal Golden Visa program provides a fast track for non EU residents and investors to obtain a residency permit and citizenship rights. Year 1: your Golden Visa permit is issued for the duration of one year. It has been one of the leading European countries to popularize golden visas. Year 1: your Golden Visa permit is issued for the duration of one year. Best Citizenships is now a part of Yellow network, “Very honest and professional service. … Spain Get an individual consultation with a Portugal Golden Visa expert. 1-4 months: invest in your property and apply for the Portugal Golden Visa scheme. Starbucks...or maybe even your arch-enemy? Serving HNW clients since 2011. Portugal is a very unique program and has some distinct advantages when it comes to citizenship. Portugal 4.4 billion). The requirements to apply for citizenship vary greatly between Portugal, Spain, and Greece. Greece Golden Visa Benefits, Real Estate and Law. We asked for the cheapest family passport, they went as far as providing us a discount” – Muhamed,  UAE. The Golden Visa fees can vary, depending on the situation and on the person. 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. Every card after that is valid for two years at a time. Golden Visa in Portugal. This visa is for non-EU investors who invest a minimum amount as defined by law. Spain and Portugal have two of the most sought after immigrant investor programs in Europe.These countries both offer a Golden Visa scheme whereby a foreign national can receive a temporary (or “golden”) residence permit in the selected country in exchange for a sizeable contribution to that country’s economy. This means that with a resident permit from Portugal, an investor is equally free to travel freely across these 26 countries. Dependents per main applicant The residence by investment program set out the guidelines on how non-EU citizens could obtain permanent residence in the country by investing €250,000 in Greek real estate. In order to upkeep the residence permit and have the right to renew it, all three countries require the applicant to preserve the investment. 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. Rental income derived from property in Greece is at between 11% and 33%, and certain expenses can be deducted from gross income. The Greek Golden Visa program garnered approval and foreign interest very quickly for two reasons: 1. Our business model of online platform makes it cheaper and faster for clients as we directly with authorized agents, law firms and property developers approved by Governments without any intermediaries. The Greek Golden Visa program was launched by the Government to grant resident status to all real estate investors, and respective families wishing to invest in Portugal by the capital real estate investments to any citizen of Qatar, the USA, Russia, Ukraine, and other non-EU countries except Greek and EU/EFTA citizens. Today, for a 500,000 euro investment in real estate, you can get a residency permit. For the Golden Visa to lead to citizenship, the below requirements need to be met; It is essential to point out holding a Golden Visa in Portugal, Spain, or Greece does not require the applicant to become a tax resident in the corresponding country. Launched in 2012 the investor visa program has been actively promoted internationally by … Enquiry Factsheet Greece, on the other hand, kept a very strict profile against travelers. All permits as of then are valid for five years each. Stream Golden Visa Greece Vs. Golden Visa Portugal by Be Rich and Stay Rich with Enzo Caputo from desktop or your mobile device. The lowest investment threshold belongs to the Golden Visa program in Greece, with 250,000 euros in real estate. The permit is renewed every five years, provided that the main applicant preserves his or her investment. Greece issues a Golden Visa permit that is valid for five years. One such program is the Golden Visa Program for citizenship in Portugal. 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