By Laura Kemp • 22 September 2021 • 15:45
Expats rush to secure 'Golden Visa' for Portugal. image: Pixabay
British expats are choosing Portugal more and more as a place to settle, however, time is running out to easily secure the enticing ‘Golden Visa’.
The scheme, which has been in place for 10 years, is a residence visa for non-EU citizens who make an investment in Portugal, however, it is set to change on January 1, 2022, and the minimum investment required is due to increase.
At the moment, British expats can secure a Golden Visa by investing in property in Portugal, they are a quick way to obtain Portuguese citizenship as those who are on it can achieve citizenship within just five years.
The popular areas such as the Algarve, Porto and Lisbon are set to be taken off the scheme as the Portuguese Government hopes to encourage foreign citizens to invest in the quieter areas of the country.
British expats have been advised to apply for the Visa now if they are hoping to have a dream property in the more popular areas.
One person applying for a Golden Visa said: “I’m still in the process of applying for a Golden Visa but if successful it would give me a solid and immediate Plan B in these uncertain times and also something to look forward to in retirement.”
Another said: “It looks like there are some good opportunities for a return on my investment. I’m now looking forward to retiring in Portugal and also to the long-term opportunities for my children as dual nationals.”
Get Golden Visa, a company that helps non-EU citizens with the Golden Visa application is urging UK expats to apply now.
Werner Gruner, partner of Get Golden Visa, said: “Portugal loves to welcome different cultures- it’s in our DNA to make bridges between nationalities and continents.
“This beautiful country has a strategic location in the world, it’s part of Europe – within two hours of Paris and Frankfurt – but easy to reach from North America.
“Furthermore it ranked four out of 193 countries in the Global Peace Index 2021.
“Not only is it a safe country but it has an excellent health system, English is also spoken everywhere throughout the country and the cost of living is still more affordable than many other European destinations.”
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Originally from UK, Laura is based in Axarquia and is a writer for the Euro Weekly News covering news and features.
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