{"id":37028,"date":"2021-06-21T15:24:01","date_gmt":"2021-06-21T11:24:01","guid":{"rendered":"https:\/\/www.savoryandpartners.com\/?p=37028"},"modified":"2021-06-27T10:33:53","modified_gmt":"2021-06-27T06:33:53","slug":"a-breakdown-of-taxes-for-portugal-golden-visa-residents","status":"publish","type":"post","link":"https:\/\/old.savoryandparnters.com\/blog\/a-breakdown-of-taxes-for-portugal-golden-visa-residents\/","title":{"rendered":"A Breakdown of Taxes for Portugal Golden Visa Residents"},"content":{"rendered":"

Individuals seek out Portuguese residency for many different reasons. Some may consider moving to <\/span>Portugal for a lifestyle change<\/span><\/a> or to secure a pleasant destination for their retirement years. Others may not care to move to Portugal at all, preferring to use their Portuguese residency status as a means to travel freely through the Schengen Zone or have greater access to the European Union (EU) market. Whatever your reasons, obtaining residency through the <\/span>Portugal Golden Visa Program<\/span><\/a> will mean abiding by the country\u2019s tax regime.<\/span><\/p>\n

In This Article:<\/strong><\/em><\/h3>\n
    \n
  1. What is the Portuguese Golden Visa Program?<\/a><\/span><\/li>\n
  2. How Are You Taxed in Portugal?<\/a><\/span><\/li>\n
  3. Other Benefits Associated with the Program<\/a><\/span><\/li>\n
  4. Book a Free Consultation<\/a><\/li>\n<\/ol>\n

    To better prepare you for what you can expect when acquiring Portuguese residency, we provide a breakdown of taxes for Portugal Golden Visa residents.<\/span><\/p>\n

    What is the Portuguese Golden Visa Program?<\/b><\/em><\/h3>\n

    Launched in October 2012, the Portugal residency and Golden Visa Program is a legal process based on the law that invites foreign investors from non-EU countries to obtain fully valid residency permits in Portugal for themselves and their families.<\/span><\/p>\n

    The Portugal Golden Visa Program consists of <\/span>a few simple steps<\/span><\/a> and requires applicants to be at least 18 years of age, in good health, possess no criminal record, have confirmed investment sources and successfully pass due diligence checks. Individuals can apply as single applicants or as a family.<\/span><\/p>\n

    Related Article: Citizenship by Investment Or Residency by Investment – Which is Best for You and Your Family?<\/em><\/a><\/p>\n

    Eligible family members include the spouse of the main applicant and children (biological or adopted) under 18 years of age. Parents and children older than 18 years old can be included in the application if they are dependent on the main applicant.<\/span><\/p>\n

    If all the minimum criteria are met, applicants to the Portugal residency by investment program are required to <\/span>purchase property in Portugal<\/span><\/a> or make an alternative investment into the country \u2013 such as job creation or investing in a small local business \u2013 before the application can be filed.<\/span><\/p>\n

    \"Portuguese

    By fulfilling minimal requirements, you may be eligible for Portuguese citizenship after 5 years of holding your residency.<\/p><\/div>\n

    Successful applicants will receive their residency permit and will gain the right to live, work, travel and study in Europe as well as gain access to Portugal\u2019s healthcare and consumer rights. Portugal has a minimal residency that requires residents to visit the country for only 7 days per year for 5 years \u2013 the rest of the time can be spent wherever they wish.\u00a0<\/span><\/p>\n

    How Are You Taxed in Portugal?<\/b><\/em><\/h3>\n

    There are two things we can all be certain of in life \u2013 death and taxes. No matter where you go in the world, you will always be required to pay some form of tax. The real question is, how much tax will you be paying?<\/span><\/p>\n

    You Might Also Like: Can You Buy Citizenship in St. Lucia? \u2013 Yes, Here\u2019s How<\/em><\/a><\/p>\n

    Surprisingly, Portugal is a highly tax-efficient home when compared to other European Union countries, the United Kingdom<\/a> and the United States<\/a>. Once you are a Portuguese resident, you could potentially pay:<\/span><\/p>\n