Portugal citizenship by investment is an excellent way for investors to migrate to Europe. The simple immigration policies and amazing investment opportunities enable investors and their families to explore the country as permanent residents and citizens. While there is no direct citizenship by investment in Portugal, investors can obtain a residency and eventually become eligible to apply for citizenship.
There has been a steady increase in the demand for Portuguese citizenship through investment. The Portugal citizenship by investment program is one of the best investment immigration programs in the world along with Malta and Cyprus, according to a report by Henley & Partners. The country offers everything – from great healthcare to a world-class education for children.
In the recent articles, we discussed why you should get Portugal citizenship by investment. It offers a lot of benefits and the process is simple. The processing time is about 3 to 12 months. Since the time is so less, investors preferred Portugal over other countries in Europe. It is also one of the cheapest citizenship by investment programs in the European Union.
This article will highlight the cost of obtaining Portugal citizenship through investment. It will shed light on the different investment alternatives that people can explore for migrating to Portugal. We will focus on Portugal citizenship through property investment and other alternatives as well. Let’s have a look at the cost of Portugal citizenship in detail.
Cost of obtaining Portugal Citizenship by Investment
There is no direct citizenship of Portugal that investors can purchase. We will highlight the cost of obtaining permanent residency by investment, which can eventually be converted into citizenship.
There are three different investment options to obtain Portugal citizenship. The first one is the property acquisition, which provides three alternatives to investors. Purchasing a property in Portugal also guarantees investors good returns on real estate income and secures their family with residential status.
- €500,000 of property acquisition in the approved locations for Portugal citizenship by investment anywhere in the country or.
- €350,000 investment in property that is more than 30 years old and located in an urban regeneration area or.
- €280,000 of investment in a property that is located in a low-density population area.
All the above three options focus on purchasing residential property in Portugal. The single application covers investors and their family of four members, who can stay together in the country.
The second option is an investment in funds. Investors can obtain Portuguese citizenship through investment by investing €350,000 in an investment fund or a venture capital fund.
The third option is an investment in a national heritage project. It involves an investment of €250,000 for the reconstruction of the refurbishment of a national heritage project.
The above were the project costs for obtaining Portugal permanent residency. Now, whether they are applying for Portugal citizenship through property investment or by investing in a venture capital fund, investors need to pay the government fees of €5336.40 per family member.
The renewal fees are 50% of that incurred after every two years. The processing fee for the application is €533.90. The lawyers and investment immigration company’s fee would account for anywhere between €2500 – €5000.
However, when investors acquire Portugal citizenship through property investment, there are different taxes, stamp duty, and fees involved. They need to account for those costs before making the investment decision.
How to get Portugal Citizenship by Investment
As mentioned earlier, there is no direct Portugal citizenship by investment program. Investors and their families can obtain permanent residency in the country. The Portugal PR needs to be renewed after every two years. After a residence in the country for 5 years, investors and their families become eligible to apply for Portugal citizenship through investment.
In around 6 years after applying for the Portugal residency by investment program, investors can acquire citizenship of Portugal. It automatically makes them a European citizen, allowing them to enjoy all the benefits of the European Union.
Getting a residency in Portugal is simple. There are only three stages to the process, and it takes only around 3 to 12 months.
The first step is to visit the embassy of Portugal and attest the required list of documents. Investors need to open a bank account, obtain a tax number, and transfer the funds for investment.
The second step is to submit the application online with the help of a professional law advisor. Investors also need to submit the application at SEF and submit their biometric details by visiting Portugal.
The final step is the approval and subsequent issuance of residence cards. After completion of 5 years as a resident of Portugal, investors and their families become eligible to apply for citizenship.
Portugal citizenship opens the door to new opportunities for investors and their families. They get visa-free access to the Schengen zone, which includes countries like France, Germany, Spain, Italy, The Netherlands, and many more. Apart from that, they can also travel visa-free to 160+ countries of the world.
Investors can send the children to world-class universities in Europe. They also get access to the universal and affordable healthcare system of Portugal, one of the best in the world. The country is also one of the most peaceful countries in the world, making it a desirable plan B for investors after retirement.
The cost of citizenship by investment in Portugal is worth the experience investors will get by living in Europe. They can enjoy the freedom and economic opportunities of the European Union. Their investment in property or investment funds can be realized within a few years of staying in the country and earning good returns on the investment.
If you need the assistance of a professional investment immigration company for obtaining Portugal citizenship by investment, My Global Citizenship™ can help. We are the leaders in permanent residency by investment programs, enabling investors to migrate to European countries without any hassle.
Contact us today for an online consultation.