About 200 million euros were invested in Portugal under the visa program “gold ” to attract foreign non-European companies that want to create , buy real estate or transfer money to the country .
So far , 318 have been granted residence permits to foreigners who joined the program , according to a government source quoted by Lusa . About 80 % relate to the purchase of real estate , and 20 % to financial transfers .
Released earlier this year , the program ensures a residence visa to foreigners whose investment in Portugal create ten jobs , or make the acquisition of property worth more than 500,000 euros , or the transfer of one million euros to the country . The investment activity has to be developed for at least five years.
Chinese , Russian , Angolan and South African lead investors covered by the program .
A month ago , there were 226 visas awarded , totaling 106 million of foreign investment .
If you are non European, this could be a good business opportunity, has well has the possibility to live in the beautiful central Portugal area still waiting to be discovered.
The benefits are many. Essentially a simplified and privileged way to enter or stay in Portugal, which allows the holder to settle and invest in this country, and also create links with the Portuguese territory and other territories that we are related through the “Schengen Area” and eventually countries with which Portugal has international agreements privileged. It is the simpler way entry and stay in Portugal, and has particular conditions for assignment. It is a visa that creates bonds that, if kept in certain conditions, may allow a later application for allocation of Portuguese or the request for a permanent authorization.
The Schengen Area is a group of 26 European countries that have abolished passport and immigration controls at their common borders. It functions as a single country for international travel purposes, with a common visa policy. The Area is named after the village of Schengen in Luxembourg where the Schengen agreement, which led to the Area’s creation, was signed. Joining Schengen entails eliminating internal border controls with the other Schengen members, while simultaneously strengthening external border controls with non-Schengen states.