portugal golden visa program
Portugal is one of the oldest countries in the world, with nearly 900 years of history demonstrating its strong identity and internal cohesion. The country is politically and economically stable and welcomes all nationalities. It is part of the Schengen Area and is one of the safest countries in the world. Its history, culture and beauty, alongside its hospitality, gastronomy and affordable cost of living, are just a few of the country's main selling points.
10.31 million (2017)
USD 217.6 Billion (2017)
The Golden Residence Permit Programme was established by Order n. 11820-A/2012 and Order no. 1661-A/2013, which amends Act no. 23/2007 and lays down the legal framework for the entry, permanence, and exit of foreigners from Portugal.
The Programme is administered by the Portuguese Servico de Estrangeiros e Fronteiras (SEF), the country's aliens and border control authority.
Since its launch in 2012, total investment under the Portugal's Golden Visa program now stands at more than EUR 3.7 billion (Till March 2018).
The most popular programme in Europe, a total of 6,050 residence permits have been issued since the programs inception in 2012 till March 2018; with the figure increasing to 10,181 when counting the family members of the main applicants, granting them and their families free access across the Schengen area, paving the way to European residency. Majority of the investments flow into the capital of Lisbon, where the real estate market has seen significant increases, bringing it steadily inline with other European capitals.
The application process for the visa is simple.
You must invest either 280,000 Euros, 350,000 Euros or 500,000 Euros in a property.
Paperwork can be done remotely and applicant is only required to stay 7 days per year in Portugal. A nice excuse for a holiday.
A Portuguese bank account and tax number must be obtained and biometric data provided. Generally the whole process takes 4-6 months to be completed.
As the first batch of golden visa holders completing their five years of residence in Portugal have started to trickle through, reports confirm that the investors are obtaining not only permanent residence (PR) permits but also citizenships after physically residing for just 35 days (7 days per year) in the country.
A great deal of uncertainty has always surrounded the question of whether participants in Portugal's golden visa program would in the end, after holding the temporary golden visa for 5yrs (1+2+2 years), qualify for a) permanent residence status and b) citizenship.
Through this applicants can gain the residency of Portugal. Also, there is a favourable tax regime for those who do invest. The residency card provides freedom to all family members to travel throughout the EU Schengen visa zone easily and without any further visa applications. Eventual passport holders gains European residency, which means they have ability to study, work, live and travel freely anywhere within the European Union.
The Portugal Golden Visa Program offers excellent tax benefits for the ones becoming resident. Investors are only taxed on their worldwide income when they are resident in Portugal for more than 183 days in an year. Portugal has a tax regime for those who are considering living in the country which is very favourable for them. On income for the first 10 years no taxes are charged at all. Tax is charged at 28% on income derived in the country for non-resident individuals. This can also be reduced with expenses for their rental income. Capital gains tax is 28% and also, there are allowances for costs and depreciation. There is no inheritance tax in Portugal. The annual property taxes can vary between 0.3% and 0.8% of the valuation of property, but range of exemptions is also there.
The top five nationalities approved for the Portuguese Golden Visa since 2012:
Under Golden Visa, an individual must have been legally resident in the country, 7 days per year for five consecutive years to apply for citizenship
Spain, a country on Europes Iberian Peninsula, includes 17 autonomous regions with diverse geography and cultures. Capital city Madrid is home to the Royal Palace and Prado museum, housing works by European masters. Segovia has a medieval castle (the Alczar) and an intact Roman aqueduct. Catalonias capital, Barcelona, is defined by Antoni Gauds whimsical modernist landmarks like the Sagrada Famlia church.
46.53 million (2017)
USD 1.311 Trillion (2017)
In September 2013, the Spanish Parliament launched the program enabling foreigners to obtain Spanish residence by investment. It is possible to choose between the following investment options: government bonds worth EUR 2 million, a bank deposit worth EUR 1 million or property worth EUR 500,000. It is possible to apply for permanent residency in Spain after living in the country for five years. Citizenship can be applied for after living full time for ten years. Although the temporary residency permit (the golden visa) can be easily renewed without living in the country, the route to both permanent residency and citizenship requires the investor and their family to reside in Spain.
Greece is a country in southeastern Europe with thousands of islands throughout the Aegean and Ionian seas. Influential in ancient times, it's often called the cradle of Western civilization. Athens, its capital, retains landmarks including the 5th-century B.C. Acropolis citadel with the Parthenon temple. Greece is also known for its beaches, from the black sands of Santorini to the party resorts of Mykonos.
10.77 million (2017)
USD 200.3 Billion
Greek Residency Law 4332/2015 In Bullet Points
Summing up, Greek residency is granted immediately upon the purchase of a property or properties in Greece to the minimum value of 250,000. This residency must be reapplied for every five years, but is credited to the holder so long as they remain owners of the property they purchased, or of a new property of equal or greater value. After seven years of continued residency, an individual is eligible to apply for full Greek citizenship.
The Greek residency permit is valid for travel throughout Western Europe's 26-nation Schengen Area and allows the holder the same options for living and working within the E.U. However when it comes down to the amount of visa-free travel beyond the Schengen Zone, that will still be limited by the quality of the card-holders original passport.
Malta is an archipelago in the central Mediterranean between Sicily and the North African coast. It's a nation known for historic sites related to a succession of rulers including the Romans, Moors, Knights of Saint John, French and British. It has numerous fortresses, megalithic temples and the al Saflieni Hypogeum, a subterranean complex of halls and burial chambers dating to circa 4000 B.C.
USD 12.54 Billion (2017)
The Malta Residency by Investment Programme is a Malta residency route open to Non EU nationals and their registered dependents who would be granted a Maltese residence permit allowing its beneficiaries a permit which will allow free travel within the Schengen Area. Such residence permit will also grant its beneficiaries the right to reside, settle and stay indefinitely in Malta. The Republic of Malta enjoys a stable political climate and a bi-partisan political scene that is largely convergent on issues of national and economic importance. Malta has weathered the financial crises well and shared the limelight with Germany as the only two states maintaining economic growth in the Euro Zone. Malta's banks have been ranked amongst the top 5 soundest banks in the world.
Legal Basis for Malta Residency by Investment
Malta Residency by Investment may be granted under an amendment passed in August 2015 to the Maltese Immigration Act, Chapter 217 of the Laws of Malta. These amendments provided the framework for the enactment of L.N. 288 of 2015. The 'Malta Residence and Visa Programme Regulations' provide for affluent persons of impeccable standing and repute to receive Maltese residency on the basis of a contribution to and investment in Malta.
Benefits of Malta Residency by Investment
Grounds for Refusal of Malta Residency by Investment
An application for Malta Residency by Investment shall be refused if the applicant:
Grounds for Revocation of Malta Residency by Investment
A beneficiary under the Malta Residency by Investment Programme shall cease to benefit from the certificate issued
under the Regulations if:
Taxation of New Residents
The basis for taxation under the Maltese tax system are based on domicile and residence. Residence for Malta tax purposes is established by demonstrating an intention to reside in Malta indefinitely. It may also be definitely established on the basis of a physical presence in Malta of at least 183 days.
Maltese tax residents who are not domiciled in Malta are taxable on a remittance basis. Non-domiciled residents of Malta are taxable on a remittance basis only on foreign-source income (not foreign-source capital) remitted to Malta and only to the extent remitted. Income and capital gains arising in Malta are always subject to tax in Malta at the applicable personal income tax rates.
Capital gains arising outside Malta fall outside the scope of Maltese tax whether remitted to Malta or otherwise. Capital and savings remitted to Malta also fall outside the scope of Malta tax.
Other tax benefits include:
Eligibility for Malta Residency by Investment
The salient conditions of the Malta Residency by Investment Programme under the Malta Residence & Visa Regulations are outlined below.
The main applicant:
Germany is a Western European country with a landscape of forests, rivers, mountain ranges and North Sea beaches. It has over 2 millennia of history. Berlin, its capital, is home to art and nightlife scenes, the Brandenburg Gate and many sites relating to WWII. Munich is known for its Oktoberfest and beer halls, including the 16th-century Hofbruhaus. Frankfurt, with its skyscrapers, houses the European Central Bank
82.79 million (2017)
USD 3.677 Trillion (2017)
Germany does not have an investor category per se. Instead, foreign nationals wishing to invest and become a resident of Germany must comply with the immigration laws related to self-employment, by taking up an economic activity in a local municipality. This is facilitated through a regionalized investment. A foreign national is to a) purchase real estate and b) make an entrepreneurial investment into a regional development fund. The main applicant must be at least 18 years of age, have no criminal record and may include his/her spouse, and dependent children under the age of 18, in the application.
Summary of Key Advantages
Cyprus, officially the Republic of Cyprus, is an island country in the Eastern Mediterranean and the third largest and third most populous island in the Mediterranean, located south of Turkey, west of Syria and Lebanon, northwest of Israel, north of Egypt, and southeast of Greece.
USD 21.65 Billion (2017)
Being at geopolitical crossroads, Cyprus enjoys a European political outlook and the lifestyle of a Mediterranean island which along with its favourable tax regime makes the country one of the top relocation destinations in the world (2014, Knight & Frank lifestyle review).Cyprus has been a member of the European Union since 2004, and a Eurozone Member since 2008. Besides the inherent benefits of EU Membership, the country enjoys high quality healthcare and education, as well as, a stable political climate. Permanent Residency under this programme grants the right to travel within the EU and it is considered to be the first step towards gaining Cyprus Citizenship. In this respect, the Cypriot authorities have recently simplified the procedure for issuing Permanent Residency Permits to Non-EU nationals.
In pursuance of the provisions of Regulation 6 (2) of the Aliens and Immigration Regulations, Cyprus grants Non-EU nationals the right to permanently reside in Cyprus with no renewal requirements. The process is based on a set eligibility criteria ensuring that the Permanent Residency status is only granted to reputable individuals.
Hungary is a landlocked country in Central Europe. Its capital, Budapest, is bisected by the Danube River. Its cityscape is studded with architectural landmarks from Buda's medieval Castle Hill and grand neoclassical buildings along Pests Andrassy Avenue to the 19th-century Chain Bridge. Turkish and Roman influence on Hungarian culture includes the popularity of mineral spas, including at thermal Lake Heviz
9.798 million (2017)
USD 139.1 Billion (2017)
Hungary offers temporary and permanent residence permits to business owners who take an active role in their company as directors. To start the business immigration procedure, we need to set up a Hungarian company, prepare a business plan, and ensure that all requirements for the company's successful operation are met. Once the director has his permit, the spouse and children can also apply for family unification and come to Europe. This program is available to all nationalities.
Doing business in Hungary
In order to be eligible for this program, you need to start and operate a Hungarian company. This is quite easy to do, however, because Hungary offers a very favourable business environment, with a low corporate tax (9%), cheap and convenient company formation, a central location in Europe and within the Schengen zone, and relatively low living and operating costs. If you wish to start a business in Hungary or move some of your existing business activity to Europe, we can assist you in writing a business plan that will satisfy the residency requirements and also help you realize your business goals.
The benefits of a Hungarian residence permit
By acquiring residency in Hungary through business ownership, you and your family will be able to travel freely to and within the Schengen zone, and take advantage of Hungary's low living costs, favourable business environment and central European location. Schedule a meeting with one of our business and immigration experts to discuss these benefits and the best procedure for you and your family!
Just form a new company in Hungary, you can immigrate to Hungary as a board member or director through business investment. The minimum investment including all costs required is EUR 50,000 for non-EU foreign citizens. The most popular company form among foreigners is LLC (or Kft in Hungarian). The minimum capital required to form a company is approx EUR 10,000 (HUF 3,000,000). One of the advantages of incorporating a company in Hungary is that there is no obligation to deposit the share capital in the bank, and 100% of this capital can be spent immediately after incorporation on company-related expenses (e.g. investment, warehouse rental, stocks, market research).