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Grow your business with a Portuguese Golden Visa
In recent times, more and more countries have given thought to foreign-born investors becoming citizens and residents. Whilst some of these schemes are a lot more attractive than others, it can be challenging to decide which program to go through. One country’s program that stands out amongst the others is Portugal’s program. With access to 185 countries visa-free, Portuguese citizens are lucky to hold one of the top 10 best passports in the world. The fact that Portugal has taken a very pro-business stance in recent years, becoming one of the leading countries to set up a business, has meant Portugal has become an attractive place for business people looking to set up shop and become global citizens.
The Portuguese ‘golden visa’, or rather, the ability to become a Portuguese citizen through investing in the country is becoming a popular option for businessmen. Any nationality can apply, and there is a broad range of business benefits to gaining Portuguese citizenship.
For one, Portugal has a diverse economy that has steadily been increasing over the last few years. With several thriving industries, including machinery, electronics, automotive and shipbuilding industries, there are many business opportunities. This can only be helped by the fact Portugal is home to several world-class business schools, which have contributed to the creation of a number of highly renowned international managers.
Portugal also gives access to the Portuguese speaking countries in four continents; Europe, South America, Africa, and Asia, meaning endless opportunities for global partnerships. As it is one of the most powerful passports to have, Portuguese citizens receive visa-free travel to over 185 countries, including the 26 European countries in the Schengen zone. This means citizens have easy access to International Markets and can travel to all of Europe’s economic and business hubs. This makes it the perfect place to base a global company.
If you do live a busy lifestyle and do not want to base yourself in Portugal, then the great thing about their citizenship programs is that applicants only need to spend 7 days in the country in the first year. The perfect amount of time to get a break from the stresses of life whilst not taking too much time away from work.
Portugal also has a very attractive Non Habitual Residence (NHR) tax regime. The regime allows Portuguese residents who are not living in the country to not to get taxed on their foreign income. This means that income coming from self-employment, royalties, certain occupations, dividends, capital gains, and investment or rentals will not be taxed. The best aspect of the scheme is that it enables residents to potentially reduce their income tax to zero. This means that by getting a Portuguese passport, great savings can be made. Once becoming a tax resident of the country, this status is valid for 10 years, and unlike other European countries that have “golden visa” programs, is that residents are not required to live in the country in order to maintain their status. This affords applicants with a lot more flexibility in how they decide to live, unlike many other countries’ schemes.
What might be the most important factor of all is that those living in Portugal have an excellent quality of life. Steeped in history and culture, Portugal has a lot to offer its citizens and residents.
Why not talk to one of our specialists to find out more about getting Portuguese citizenship at www.bridgewaytrust.com?