Portugal, perched on the Iberian Peninsula in Europe, means “warm port” in Latin and celebrated its declaration of independence on June 10th, 1582. It abuts the vast Atlantic Ocean to the west and south, and borders Spain to the north and east. Besides the territory of the European continent, Portugal holds sovereignty over the Azores and Madeira in the Atlantic Ocean. Lisbon, the capital of Portugal, has the westernmost point of Europe – The Cape Roca. Portugal is a modern industrial and agricultural country with prominent metal refining, chemical, and oil industries, yet it is best known for as a world-leading producer of cork, made from cork oak. Portugal was an important cultural birthplace in the modern western history and became a global empire with Spain during the 16th century. Portugal is a member of the EU, and as one of the world’s developed countries, it is also a founding member of the Eurozone.
Portugal Permanent Residency by Investment
Portugal is another full EU and Schengen member country that offers accessible citizenship and residency via an investment program with flexible residency requirements of just two weeks in Portugal every two years. The advance of this program is that it does not require the investor to permanently reside in Portugal.
While it is not possible to obtain citizenship directly by investment, temporarily residency permits are obtainable through investment. The naturalization (citizenship) or permanent residence is possible after 5 years of temporary residency status.
To obtain residency in Portugal, investors are required to invest a minimum of 500,000 Euros in real estate and maintain the investment for a period of 5 years. However, exceptions can be made with necessary approval for properties that require renovation. In the event such an investment is approved, the minimum investment can be reduced to 350,000 Euros (renovation cost is included) or 280,000 Euro in low-density areas of Portugal.