Citizenship planning is also unique for every investor. An investor needs to consult with their immigration expert, Tax Lawyer, accountant, or wealth advisor to establish a financial plan that will meet all their personal, family and business objectives.
The Portuguese culture creates a vibrant atmosphere as it involves so many different aspects such as art, religion, literature and even soccer. Portugal has great opportunities for foreigners that are looking in acquiring and additional residency.
South Africans seeking to emigrate or simply acquire an additional residency, who are unable to meet the skills points criteria to move to the more traditionally popular destinations, are now increasingly seeking out alternative global locations that offer both the lifestyle and security that they desire for their families, hence Portugal has become a popular choice.
Different Pathways to the Portugal Golden Residence Permit:
The Portugal Golden Residence Permit Program is a minimum of 5 years residence investment program for non-EU-Citizens. The Golden visa rewards applicants with residence permits. As of April 2020, the initial residence permits became valid for two years (used to be one year) and the subsequent permits became valid for three years each. After 5 years, the applicant will be able to apply for both their permanent residency and citizenship otherwise the Golden Visa will need to be renewed.
There are currently numerous investment pathways to acquire the Portugal Golden Visa, the most popular are the below:
The private equity option has become very popular in 2021 due to its simplicity. Due to it’s popularity, the Portuguese government has confirmed that the amount for the fund option will be increased to 500,000 EUR in January 2022. For those interested it is now the time to invest.
Basil Mohr-Elzeki, VP Global sales at Stuart International, mentions the following benefits of the fund option:
Overall if risk, cost or time is a criteria, private equity can be a viable option for your pathway to Portugal. Keep in mind, the clock is ticking as the minimum will increase in 2022 – by starting the process now you save over 40% on the investment amount.
Processing time:
The Golden visa for Portugal processing time can take anywhere from 8 to 10 months.
Additional Benefits:
Worried about your assets when you break tax ties with South Africa, here are some tips.12/13/2024 - 09:15
Understanding and Changing Your Tax Residency Status in South Africa12/02/2024 - 14:00
Avoid nasty tax surprises by checking your tax residency status with SARS11/26/2024 - 12:23
Reporting Requirements for Ceasing South African Tax Residency11/20/2024 - 07:53
Financial Emigration: Legal and Compliance Considerations11/13/2024 - 08:55
Government Faces Several Obstacles in Imposing Exit Tax on Retirement Inter...