The Employment-Based Fifth Preference Visa, or EB-5, as it is popularly referred to, is issued by US Citizenship and Immigration services (USCIS).
To qualify for the Portuguese residency, the applicant must either:
1) Make an investment of €500,000 in real estate in Portugal:
2) Since 2015, there is a new option for Property Acquisition:
The purchase of a property constructed over 30 years ago, or located in an area of urban regeneration, with the intent of refurbishing it, for a minimum of EUR 350,000.
The EUR 350,000 threshold includes not only the property’s price, but also the investment in the refurbishment works.
Applicants can apply for permanent residency after 5 years, and Portuguese citizenship after 6 years. There is no residency requirement during this period. For citizenship, one must pass a basic Portuguese language test.
Once the applicants have obtained their permanent residency or citizenship, they are then free to sell their investment.
Qualifying family members include spouses and all children under the age of 18. Children aged 18 and over qualify if they are financially dependent on the main applicant. Dependent parents may also qualify, depending on the circumstances.
Investors will only be taxed on their worldwide income if they are resident in Portugal for over 183 days during any calendar year. However, Portugal has a very favourable tax regime for anyone who is considering living in the country. No taxes are charged your on overseas income for the first 10 years. For non-resident individuals, tax is charged at 28% on income generated in the country. This can be reduced with expenses for rental income. Capital gains tax is charged at 28%, and there are allowances for costs and depreciation. There is no inheritance tax in Portugal. Annual property taxes (IMI) can vary between 0.3% and 0.8% of the property valuation, but there are a range of exemptions.
The standard rate of corporate tax is levied at 25%, and the standard rate of VAT currently being applied is 23%.
Other requirements: Applicants deciding to live full time in Portugal will require Medical insurance. However, families will have access to all public services, including state medical care and schooling.
Our experienced consultants and immigration lawyers will manage the entire application process with document preparation and validation and all government formalities. We partner with the best real estate developers and agents and will arrange for the client to view the properties and get the best possible investment opportunities. Please contact us and our team will be delighted to assist you.