USA among top three nations using Portugal’s Golden Visa Program

Portugal’s Golden Visa Program has continued to attract foreign investors amid the coronavirus pandemic. Launched in 2012, the scheme offers investors from non-EU countries the chance to secure permanent residency in Portugal in just five years.

There have been 334 applications for it so far in 2021

The main nationalities of the individuals that have received a Golden Visa consist of 139 from China, 30 from Brazil, 23 from the USA and 16 from Russia. Out of the 1,182 applications in 2020, there were 296 successful applicants from China, 126 from Brazil, 75 from the USA, 74 from South Africa and 72 from Turkey.

Therefore, the USA has been in the top three nations when it comes to the nationalities of applicants over 2020 and 2021.

A distance of 7,330km separates Portugal and the USA, with huge contrasts between the two nations. Sunshine, sand, a dreamy landscape and delicious cuisine await Americans looking to make the move overseas.

Furthermore, the tax-related incentives will appeal to business owners in America who may be looking to expand their company to the southern European country, while making the most of an opportunity to save hard-earned money.

But how do Americans qualify for residency by investment scheme?

In the program’s current form, USA citizens can qualify by making a real estate investment totalling €280,000. This amount is at the lowest end of the scale and people need to meet requirements to be eligible for this, including the property being in a low-density area.

But real estate is not the only option available for people. They can also qualify for the scheme by creating 10 jobs in the nation or by transferring capital of €1 million into a Portuguese bank account. Meanwhile, if people wish to take things slowly, they only need to stay in the country for seven to fourteen days a year.

Begin your journey towards residency in Portugal today!