Portugal Golden Visa for Americans
As a community full of digital nomads, freelancers, and entrepreneurs, we highly favor Portugal Golden Visa. It can allow you to gain residency, and eventually, citizenship within Portugal, along with many other benefits.
In this article, we’ll look into how gaining a Golden Visa could benefit Americans, and what exactly a Golden Visa is in Portugal. Just a quick reminder, before we delve into the details: We’re not investment experts, however, many of our members have already got their Portugal Golden Visa so this article is going to be based on what we’ve learned through their process and experience.
What Is Portugal Golden Visa?
A Golden Visa, as mentioned, grants you residency within a nation. Below we have listed just some of the ways that you can choose to gain your Portuguese Golden Visa if you’re an American looking to start a new life in Europe.
To be eligible to apply for the Golden Visa, you’ll need to be at least 18 years old and have no prior background of a criminal record. Once you meet these two requirements you can then set out trying to obtain the other requirements, which we have listed below.
Portugal Golden Visa Investment Methods
- Firstly, you’ll be able to gain the Golden Visa if you own property in Portugal worth a minimum of €500,000, this amount lowers to €400,000 if you settle for a property in a lesser populated area of the country.
- It lowers further to just €350,000 and €280,000 respectively if you look for a property that is a minimum of thirty years old and in need of renovation.
- Other than real estate acquisition, you can opt for Portugal Golden Visa investment funds which are available for an investment of €500,000.
- Outside of purchasing property, you can start up a company in Portugal and supply at least 10 jobs for Portuguese citizens or do a straightforward transfer of €1.5 million toward the Portuguese state.
- Lastly, you can invest €250,000 toward the arts of Portugal or any refurbishment of their national heritage projects.
Benefits of Living in Portugal as an American
There are many benefits to moving to one of Europe’s safest countries, which is continuing to grow in a variety of ways. Below we have managed to list just some of the most prominent advantages that you may want to be aware of as an American potentially moving to Portugal.
Healthcare and Schooling
Healthcare in Portugal is significantly cheaper than it is in the United States, as most Americans are consistently made aware of in their daily lives. If you have children who will need to adapt to a new school upon moving, note that there are international schools that run on an American curriculum, which will make the adaptation that much easier.
If you’re moving to a new country, it is understandable that you want to know what the tax situation may be there. Thankfully Portugal has a Double Taxation Agreement (DTA) with the United States, meaning you’ll not be double-taxed on the same income through both nations. This obviously couples well with having more income to keep for yourself, as life in Portugal is significantly cheaper than most countries, but particularly when compared to that of the daily life what it costs to live in America.
Portugal Citizenship Through a Golden Visa
A big motivator for Americans to apply for Portugal Golden Visa is that it leads to EU citizenship, without living in the country full-time. This means you’re free to leave Portugal and come back any time, as long as your stay in the country isn’t less than seven days per year on average. So, if you want to travel or have business interests outside the country, you can do this without harming your citizenship eligibility in the future.
Traveling in Europe
When you’re based in the US, it costs a lot to make frequent trips to Europe. However, when you live in Portugal, you can easily visit other European countries. Spain is an immediate neighbor where you can easily reach. There are also frequent flights to the UK, thanks to the big British community in the country.
What Else You Need To Know
There you have it. We’ve tried to give a quick introduction to Portugal Golden Visa and how you can benefit. It’s a straightforward process but having legal professionals next to you is highly advisable. We’re not professionals but if you contact us, we’d be more than happy to introduce you to some experts whom our community members have already worked with.
FAQ on Portugal Golden Visa for Americans
What are the Portugal visa requirements for US citizens?
If you’re a US passport holder, you can stay in Portugal for up to three months without a visa. However, for longer stays, you’ll need a visa/residence permit.
Is there a visa for Portugal from US?
If you’re a tourist, a visa for Portugal from the USA is not needed. However, if you want to relocate, you’ll need a residence permit.