A Dual Guide to Portugal and Spain Golden Visa Programs

man and woman holding Spanish flag Madrid
Image by depositphotos.com

Modern times allow you to manage your time and work remotely. This opportunity has led to several consequences. If a person does not need to be at the workplace, it is worth considering moving to another city or country.

Making an important decision is always difficult, as you must look for the best option. However, the world is changing, and many countries offer programs like Portugal Golden Visa. The high demand for this and other offers is understandable, but figuring out the conditions on your own is pretty challenging.

It is much easier to make an action plan and get professional help now than before. An expert, Vladlena Baranova (Immigrant Invest agency), shares this opinion. Reviewing several popular migration destinations for wealthy freelancers will help you assess how much you need expert advice.

Available Investment Options via Portugal Program

Familiarization with popular offers begins with this program. The low cost of participation causes much attention to this option. The investor can choose the best option from the following:

  1. Donation. It is a contribution to the development of Portuguese art. In this case, the cost starts from 250 thousand euros. However, returning the donation after receiving an EU golden visa by investment is impossible.
  2. Purchase of residential or non-residential property. The requirements for the purchase object depend on the option chosen. For example, it is necessary to evaluate the specified value, the age of the buildings, and the population density in the area to participate in the program. The amount of capital is from 280 thousand. 
  3. Investments. Migrants invest in funds approved by the government. The minimum contribution is 500 thousand euros. You should seek advice to choose the recipient of the investment.

The application processing time is from one year, during which the investor fulfills the obligations.

Requirements of Portugal Golden Visa

The selection criteria are considered simple. Only adult investors who have obtained capital through legal means can participate. In addition, the list of documents includes: 

  • results of medical examination;
  • information on the existence of criminal proceedings against the person;
  • bank account statement.

The verification of the submitted documents takes up to 18 months. The decision is provided in the manner determined by the principal applicant.

Key Advantages of Portugal Golden Visa

Several benefits help attract foreign capital to the country’s budget. The first is the opportunity to obtain citizenship after 5 years of stay in Portugal. For this, the investor must stay here for 53 days. This rule is valid for the specified period. 

The affordable investment amount is no less attractive. It is allowed to include other family members in the application. They receive residency status on favorable terms. In addition, the speed of investment return is from 5 years (except for options that involve donations).

Available Investment Options via Spain Programme

Sunny Beach and the country’s popularity have led to an increase in demand for the Spanish program. Participants who have completed the application process can enjoy the rights and freedoms of the local population. However, the cost of the Spain Golden Visa is set according to the terms of the offer as follows:

  • from 500 thousand euros – purchase of real estate;
  • from 1 million – deposit in a state bank or purchase of shares in a Spanish company;
  • 2 million or more – a donation to pay off Spain’s debt.

It takes 3 months or more to process a foreigner’s request. This advantage attracts those who want to complete the paperwork and obtain residency status quickly.

Requirements of Spain Golden Visa

You can apply for consideration at any consulate. You must prepare documents indicating the investor’s reliability and legal work. The list of required documents includes:

  • information on financial independence;
  • extracts from the medical service;
  • information on the absence of criminal records.

Family members exempted from processing fees and other expenses are added to the application. Thus, migrants get the opportunity to move with their partners and children.

Key Advantages of Spain Golden Visa

The speed of processing applications, which is three months or more, is noteworthy. A short period for review and verification distinguishes the Spain golden visa program from others. In addition, migration will allow you to get other pros:

  • tax exemption in case of absence of privately owned real estate;
  • the cost of extending a residence permit is 2,500 euros;
  • residents can visit EU countries under the rules of the visa-free regime.

The stable political and economic situation also adds to the list of advantages. After obtaining a residence permit for 3 months, the investor must stay in the country for at least 183 days a year. 

How Will Golden Visa Benefit You

Despite some differences in the offers, they have something in common. The opportunity to travel without a visa is available to Spanish and Portugal golden visa program participants. The countries in question now allow you to retain your first citizenship if the investor’s country also permits it. 

Moving to Europe with your family is not a problem. A wealthy migrant pays an increased participation fee and pays for the processing of applications. Thanks to the permit, children can receive education of high standards and enjoy benefits when applying to higher education institutions. 

Specialists help you compare programs and learn more about the benefits of participation. Accredited agents can assist you in preparing documents and submitting a request at the consulate. In addition, the experts have enough experience to handle difficult situations comfortably.