Portugal Residency by Investment and Spain Residency by Investment: Your Guide to Golden Visas

If you’ve been dreaming of living in Europe, enjoying a high standard of living, and opening doors to greater travel opportunities, the Portugal residency by investment and Spain residency by investment programs offer an ideal solution. These programs, also known as “Golden Visas,” allow foreign investors to gain residency in exchange for financial contributions to these countries’ economies. This guide delves into the requirements, benefits, and comparisons of these two prestigious programs, helping you choose the best path to European residency.

Understanding the Concept of Residency by Investment

Residency by investment programs are designed to attract foreign capital, boost the economy, and promote development in various sectors, such as real estate and business. Both Portugal and Spain’s residency by investment programs are among the most sought-after in Europe, offering significant benefits like visa-free travel across the Schengen Zone and a path to permanent residency or citizenship.

Why Choose Residency by Investment?

• Ease of Access: These programs provide a straightforward route to residency compared to traditional immigration methods.
• Family Inclusion: Dependents, including children and sometimes even parents, can benefit from the program.
• Travel Benefits: Residency allows visa-free travel across Schengen countries.
• Tax Incentives: Both Portugal and Spain offer appealing tax regimes for foreign investors.

Portugal Residency by Investment

Portugal’s Golden Visa program is internationally recognized as one of the most flexible and rewarding residency by investment schemes. It allows investors and their families to live, work, and study in Portugal, with minimal physical stay requirements.

Requirements for Portugal Residency by Investment

Portugal offers various investment routes to qualify for its residency program:

1. Real Estate Investment
   • Purchase property worth at least €500,000.
   • Reduced to €350,000 if the property is over 30 years old or located in a designated low-density area.
2. Capital Transfer
   • Transfer at least €1.5 million to Portugal.
3. Job Creation
   • Invest €500,000 in a business creating at least 5 jobs.
4. Research or Cultural Investment
   • Invest €500,000 in scientific research or cultural preservation.
5. Investment Fund
   • Commit €500,000 to an approved investment fund.

Benefits of Portugal’s Golden Visa

• Low Stay Requirement: Just 7 days per year on average.
• Path to Citizenship: After 5 years, you can apply for Portuguese citizenship without needing to live full-time in the country.
• Global Mobility: Visa-free access to 26 Schengen countries.
• Tax Benefits: The Non-Habitual Residency (NHR) program offers tax exemptions for the first 10 years.

Application Process

1. Select your preferred investment route and complete the investment.
2. Gather required documents, including proof of investment and personal identification.
3. Submit your application through Portugal’s immigration services (SEF).
4. Attend a biometrics appointment and await approval.

Spain Residency by Investment

The Spain residency by investment program, also known as the Spanish Golden Visa, is another popular choice for investors seeking European residency. It offers residency to individuals and their families in exchange for investments in Spain’s economy.

Requirements for Spain Residency by Investment

Like Portugal, Spain offers multiple investment options:

1. Real Estate Investment
   • Purchase property worth at least €500,000.
2. Capital Investment
   • Invest €1 million in Spanish company shares or bank deposits.
   • Invest €2 million in Spanish government bonds.
3. Business Development
   • Create a business project in Spain that generates jobs, promotes economic activity, or contributes to innovation.

Benefits of Spain’s Golden Visa

• No Minimum Stay Requirement: You are not required to live in Spain to maintain your residency.
• Family Inclusion: Immediate family members, including dependent parents and children, can be included.
• Travel Freedom: Visa-free access to Schengen countries.
• Path to Permanent Residency: Apply after 5 years of residency. Citizenship is possible after 10 years of residence.

Application Process

1. Decide on your investment route and complete the investment.
2. Collect necessary documents, such as proof of investment, clean criminal record, and health insurance.
3. Submit your application via Spain’s immigration services or at a Spanish consulate.
4. Once approved, you’ll receive a residency visa valid for 1 year, renewable every 2 years.

Comparing Portugal and Spain Residency by Investment

Both Portugal and Spain residency by investment programs have unique advantages and cater to different investor preferences. Here’s how they compare:

Investment Flexibility

• Portugal: Offers a variety of investment routes, including lower thresholds for real estate in low-density areas and investment funds.
• Spain: Primarily focused on real estate, but also provides options for business and capital investments.

Stay Requirements

• Portugal: Requires only 7 days per year.
• Spain: No minimum stay is required to maintain residency.

Path to Citizenship

• Portugal: Citizenship can be obtained after 5 years of residency.
• Spain: Citizenship requires 10 years of continuous residence.

Tax Advantages

• Portugal: Offers the Non-Habitual Residency (NHR) program with significant tax benefits.
• Spain: Taxes can be higher, depending on your residency status and income sources.

Choosing Between Portugal and Spain

Your choice between Portugal residency by investment and Spain residency by investment depends on your individual goals.

• If you prefer flexibility, lower investment thresholds, and a quicker path to citizenship, Portugal is ideal.
• If you want access to Spain’s larger economy and a no-stay residency option, the Spanish Golden Visa may suit you better.

Common Questions About Residency by Investment

Can I Include My Family in the Application?

Yes, both Portugal and Spain allow applicants to include family members such as spouses, dependent children, and in some cases, dependent parents.

Do I Need to Live in the Country?

Portugal requires minimal stays, while Spain imposes no minimum stay requirement for maintaining residency.

How Long Does the Process Take?

Approval timelines vary, but most applications for both programs are processed within 6–12 months.

Are There Any Risks Involved?

Like any investment, there are risks involved, especially with real estate. Research the market and work with licensed professionals to mitigate risks.

Final Thoughts

The Portugal residency by investment and Spain residency by investment programs offer unique opportunities to gain European residency while investing in promising markets. Both programs provide family inclusion, travel freedom, and a pathway to citizenship, but each has its nuances. By understanding the requirements, benefits, and processes, you can make an informed decision that aligns with your financial and lifestyle goals. Whether you choose Portugal or Spain, these Golden Visas represent a gateway to a brighter future in Europe.