Portugal Golden Visa For Uk Citizens - Lomelono Travel Solutions

You are aware that Portugal offers great real estate deals. But did you know that there is also a Golden Visa program? You were probably wondering what the best European country to retire in was, and that’s why we figured you’d like to know more about the Portuguese Golden Visa!

Would you like to own your gold-plated apartment in Lisbon? If so, then you should better apply for the Golden Visa within the next two months.

Portugal has a program for Non-EU citizens who are willing to buy a Portuguese real estate property and invest at least 500,000 Euros in it. The main idea behind the program is to attract foreign capital to Portugal.

Since 2012, Portugal Golden Visa offers the right to live and work in Portugal and travel freely across the EU in exchange for qualifying investment in the country. The program collected more than €6 billion from 10,903 applicants.

Portugal Golden Visa For Uk Citizens

UK citizens can apply for Portugal’s Golden Visa as of January 1st, 2021. If you are a British national, the program poses you the right to free travel across the Schengen area.

In this article, you’ll find out:

Table of Contents

Does the Golden Visa Portugal Lead to Portuguese Citizenship?

Yes, this program may lead to citizenship. You can obtain Portuguese citizenship after five years of the application, provided that you have (2) a clean criminal record, (2) no unpaid taxes in Portugal, and (3) pass a basic Portuguese language test.

Important Note for UK Citizens

UK citizens were not able to apply to this program before Brexit. However, now that Brexit is in full effect, British citizens can apply for a Golden Visa in Portugal. This program will grant a UK citizen the right to travel freely around the Schengen area. A right which, unfortunately, Brexit partially took away.

Furthermore, Portugal is very popular among UK expats, especially in the Algarve region for retirement. The number of registered UK expats in Portugal already reached 35,000 by 2022. This is just the number of registered expats. The total number of UK expats in Portugal is almost twice this number.

Golden Visa Program in Portugal

If you are a non-EU/EEA citizen, at least 18 years old, and have a clean criminal record, then you are eligible to apply to this program. The first step to obtaining a Portuguese Golden Visa is to make an investment in the country. The qualifying investment methods include:

Purchase of a real estate property with a minimum value of €500,000
- If the property is in a low-density area, the minimum investment amount is €400,000
Purchase of a real estate property with a minimum value of €350,000 which is older than 30 years and needs renovation.
- If that kind of property is in a low-density area, the minimum investment amount would be €280,000
Investing an amount of €500,000 in Portuguese investment funds or venture capital
Owning a company that creates a minimum of ten jobs for citizens of Portugal
A capital transfer of €1,5 million to Portugal
Investing a minimum amount of €250,000 in the arts or in the reconstruction or refurbishment of national heritage projects

The process of purchasing property in Portugal takes between one to three months. Note that, residential properties in Lisbon, Porto, and in towns along the coast don’t qualify for a Golden Visa; however you can choose to buy a commercial property and apply for a Golden Visa.

The next step after the property purchase is to prepare the necessary documents for the Golden Visa application and then submit them online.

Following this step, a visit to Portugal is necessary for a biometrics appointment at a SEF office. SEF is the Portuguese Immigration and Border Service.

You will then receive your approval and your Golden Visa Residence cards.

Portugal Golden Visa:
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Portugal Golden Visa Benefits for UK Citizens

Faced with Brexit, citizens of the UK have been searching for alternative ways to maintain their travel rights across Europe. With the Brexit process complete, it is harder for UK citizens to move about freely in the EU. The Gloden Visa Portugal is a great method to assure you unincumbered access to the EU, as well as a route to obtain Portuguese citizenship.

Direct and indirect benefits of the program include:

Visa-Free Travel to 188 Countries in the World

Portugal is already a member of the European Union (EU). When you gain a Portuguese passport, you will gain the same rights as other EU citizens in terms of visa-free travel. When the investors obtain their Portuguese passports, they immediately gain the right to visa-free travel to 188 countries in the world.

The Right To Live, Work, and Study in EU/EEA Countries

After five years of successful residency, the individual gains the right to become a citizen of Portugal. Since Portugal is an EU member country, the investors and their family members directly become EU citizens. So, they automatically gain the right to live, work, or study in any EU country.

The program grants you a temporary residency for two years. This can be renewed provided that you reside at least for seven days per year in Portugal. So, you can still maintain your old lifestyle in the UK while waiting for the permanent residency and citizenship of Portugal. You can opt to live in Portugal if you want to, the choice is yours.

Family Reunification

One of the most favorable advantages of this program is that the Golden Visa includes your family members too. The reunification covers your spouse and children under 18 years of age. It may also include children older than 18 years of age if they study full-time and are dependent on you.

Low Cost of Living and Healthcare

The general consumer prices in Portugal are 23.09 percent less than it is in the UK. Furthermore, the more you move away from the main cities, the cheaper the cost of living will be. Similarly, healthcare is also quite affordable compared to that of the UK.

Finally, Portugal ranks the fourth most peaceful country in the world according to the 2021 Global Peace Index. Hence, it is a very safe place with low crime rates compared to the UK and other European countries.

International Schools with British and International Curricula

In Portugal, British expats with children can find it easy to choose the best school for their children. There are various international schools in Portugal with different curricula including the international and British curricula. Some of the best ones are namely:

British School of Lisbon (with a British curriculum)
Astoria International School (with both a British and a Portuguese curriculum)
Redbridge School (with a British, French, and Portuguese curriculums)
International College of Porto (CLIP) (with a British curriculum)
International Preparatory School (IPS) (with a British curriculum)
St. Julian’s School (with both a British and a Portuguese curriculum)
Nobel International School Algarve (with both a British and a Portuguese curriculum)
Peter’s International School in Setúbal
Oporto British School in Porto

Other than the British curricula, some schools in Portugal offer international curricula as well. So, there are many alternatives for expats from the UK to choose the best school, and in this way, they don’t need to worry about the quality of schools in Portugal.

Favorable Tax Treatments in Portugal for UK Citizens

Portugal has Double Taxation Agreements (DTA) with many countries including the UK. DTA aims to prevent the circumstance of having to pay taxes on the same income in two different countries. With this agreement, if you earn income outside of Portugal as a UK citizen, the income will not be subject to taxation in Portugal. This means that you will be taxed on the same income only in one country.

Besides DTA, taxation in Portugal is favorable for expats compared to other European countries. Another taxation program Portugal offers is the Non-Habitual Resident (NHR) regime. Under this program,

Most of your foreign source income is exempt from taxation for ten consecutive years
If the foreign income is from a country Portugal has DTA with, then it will not be taxed
If you have a “high-added-value” profession, you will get generous tax exemptions
Even if your income is not from a Portuguese source, the taxation is still lower for the expats

You can see the list of the high-added-value professions here.

The NHR program is very popular among British citizens. Normally, citizens of EU/EEA/Switzerland can apply for the NHR program by being a resident in Portugal. As a UK citizen, you can directly benefit from NHR via Portugal Golden Visa.

Less Crowd and More Sunshine Compared to the UK

UK expats can enjoy the constant sunshine and the mild climate in Portugal as a side benefit of the investment program. Besides that, you can also enjoy the tranquility and the slowness of life which you cannot find in the UK. This is because the population in the UK is around 68 million whereas it is only 10,2 million in Portugal.

Get Golden Visa: Who We Are and What We Do

Get Golden Visa is a full-service investment immigration agency & investment advisory company. We provide end-to-end solutions on residence and citizenship by investment programs in numerous countries worldwide.

We have a local office in Portugal with legal professionals and chartered real estate professionals in our team.

We work with clients from all around the world, including the UK, interested in obtaining Portugal Golden Visas, D7 Visas, or in making property investments in Portugal.