Portugal government has decreased the minimum investment that is required to obtain the most popular golden residence visa permit from the existing €500,000 to €350,000.
Wirth the changes, now Portugal becomes the cheapest country that offers residency program in Europe. Currently, Greece offers the cheapest program in Europe, a country that is continuously losing the popularity among the wealthy investors mainly because of its economic instability.
The Portuguese golden visa program requires a candidate to invest at least an amount of €350,000 in the real estate, otherwise a transfer of one million Euros into the Portugal local bank or to create a minimum of 10 jobs in the Portugal.
Other than reducing the minimum required investment in the golden visa program, the various options include to make an investment of €500,000 in the small or medium enterprises in Portugal or an amount of €250,000 in a national heritage project or in any artistic production.
According to a recent report, Portugal's residency program was described as the best in the world. Since, the Portugal has located in Schengen area as it allows visa-free access to its residents for 25 countries in Europe makes it really attractive.
Also the investors are not taxes unless they are selling any real estate or business property. Portugal golden visa allows residency for two years and then two years increment for twice. After leaving for six years, a person will be eligible to apply for citizenship.