Indians Among the Top 5 Golden Visa Portugal Investors

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The RIF Trust View on Indian Interest in the Portuguese Golden Visa

“I say golden visa, Portugal you say,” muses Binu Varghese, our Regional Director – India. “Although, I’m a little surprised to see that Indian focus on Portuguese Residency by Investment remains at this level,” she qualifies.

“Especially after Portugal removed the property option,” reasons Binu. “This probably explains why my compatriots were not higher in the investor table.”

“Anything to do with real estate is always going to be a big solution for the Indian market. They prefer that over any other form of investment. Bricks and mortar are what Indians believe in.”

Our Regional Director – India continues: “When clients ask me where I would advise to get a golden visa, Portugal has become a Pavlovian response. And not only because of the word association. With minimal physical residency requirement, 7 days a year, you can become a Portuguese citizen 5 years from applying for your golden visa in Portugal.”

“And once you’re a Portuguese national, you’re eligible for a Portuguese passport. This is the 3rd most powerful travel document in the world, enabling you to visit 181 countries without the hassle of a visa.”

Top 5 Golden Visa Portugal Investors

Portugal’s Agency for Integration, Migration and Asylum (AIMA) released its Migration and Asylum Report 2023 on Tuesday, September 17, 2024. “The publication of this Report represents the effort and demonstration of commitment to transparency and the provision of data,” explains the aptly-named AIMA President, Pedro Portugal Gaspar.

During 2023, Portugal granted 2,901 residence permits for investment activity, under Article no. 90-A, of Law 23/2007, of July 4th. Of this 2,901 total, 1,554 were given due to the right to Family Reunification, as provided for in Article No. 98 of the aforementioned law.

Of the 1,347 investors mentioned, 567 are from the United States. In second place comes Chinese investors who number 306. UK investors amount to 234.

Brazilians are the main resident foreign community. So, it’s little surprise to see that the report reveals they’re in fourth place, thanks to 219 investors. In fifth place are Indian investors, as in 199 of them.

Your Portuguese Residency by Investment Options

Golden visa. Portugal. Check. Check. Now you can travel freely across the 29 countries that comprise the Schengen area. You won’t have to negotiate the stress-inducing EU Entry/Exit System (EES).

Here’s how to secure a golden visa in Portugal to facilitate Schengen zone business and leisure travel:

1. Make a donation of at least €500,000 in public or private scientific research activities
2. Invest a minimum €500,000 in Portuguese investment or venture capital funds
3. Incorporate a company in Portugal for €500,000 or increase the share company of a Portugal business already in existence for the same value

If you choose the latter option, you will also need to create jobs for 5 Portuguese locals for no less than 3 years.

Golden Visa Alternatives

You can find Residency by Investment programmes other than applying for a golden visa in Portugal. Golden visa programmes are almost exclusively European and offer the same Schengen benefits. There is one exception, however, which we will, of course, cover too.

A Greek Golden Visa is still available at €250,000 and the real estate option will appeal to bricks-and-mortar-loving Indians. However, these are only for commercial properties repurposed as residential or refurbished livable accommodation. There is a finite number of these, so hurry while stocks last or you’ll have to meet the region-specific €400,000/€800,000 thresholds.

The Spanish Golden Visa is double the price, at €500,000. Again, there’s a property component. You should seize the moment with this too as the Spanish government has announced the programme’s closure but if you apply in time, you can still reap the benefits that won’t die with the programme.

That exception? The UAE Golden Visa, a $550,000 minimum investment. One of the advantages of this Residency by Investment programme is that you can include a limited number of domestic staff as dependents, along with members of your family.