Many people around the world aspire to live in Portugal, Ronaldo's country of origin.
One of the most well-known programs in the world, Portugal's golden visa allows foreigners to get Portuguese citizenship. The majority of immigrants eagerly await obtaining their Portuguese EU citizenship and joining Cristiano Ronaldo's welcoming island of Madeira.
On the other hand, applicants for Portugal's golden visa might need to hurry up with the application process. The golden visa scheme, which grants non-EU citizens residency privileges in exchange for investments, particularly in real estate, has been hinted at by the Portuguese government as being discontinued. The golden visa program for real estate investors in Portugal is about to expire.
Portugal's parliament agreed on July 19, 2023, to eliminate real estate investments while maintaining the golden visa scheme. Until the president signs the visa, which is anticipated to happen at the end of August or the beginning of September, real estate investors may apply.
To become a permanent resident or citizen of Portugal through the Golden Visa program, a candidate must make a minimum investment in Portugal and hold it for five years. After merely five years of waiting and 35 days of residence, one is qualified for permanent residency in Portugal, dual citizenship, and a second passport.
Starting at €250,000, immigrants have access to a variety of cost-effective investment options, including purchasing real estate, generating jobs, investing money, moving money, and making presents. More than 90% of Golden Visa investors purchase real estate because of Portugal's promising real estate market.
The most common investment option for Golden Visa holders is real estate in Portugal, which can be bought as a second home, primary residence, or rental property and costs between €280K and €500K EUR. Real estate must be located in Portugal's interior or in the autonomous regions of the Azores and Madeira in order to be eligible for the country's Golden Visa program.
Traveling visa-free for 90 days every 180 days to over 130 nations, including Canada, Japan, Singapore, the United Kingdom, and the United States, is one of Portugal's golden visa's key draws for immigrants. In Portugal, dependents are also widely defined, allowing family members to live, work, travel, study, and get citizenship there.