Australia Joins Portugal's Golden Visa: Citizenship After Five Years
Portugal's Golden Visa program, a popular residency-by-investment scheme, now allows Australian citizens to obtain Portuguese citizenship after five years. This opportunity has gained traction among Australians since 2020, due to COVID-19 lockdowns in their home country.
The program, open to non-EU, non-EEA, and non-Swiss citizens aged 18 or above with a clean criminal record, has attracted investors from various nations. Besides Australians, it has drawn Chinese, Turkish, Russian, and Brazilian citizens since its inception in 2012. The scheme has seen overall investment amounts surpass several billion euros, with over a thousand family applications received annually.
To qualify, applicants must make a qualifying investment. This could be subscribing to a fund for €500,000, setting up a company creating at least ten jobs, or investing €250,000 in arts or heritage projects. Initially, a temporary residency valid for two years is granted, renewable for three more years. After five years, applicants can apply for citizenship by passing a basic Portuguese language exam.
The Portugal Golden Visa program, the most popular of its kind in Europe since 2012, has seen increased interest from Australian citizens in recent years. While exact numbers are not specified, the program aims to encourage foreign investors to contribute to Portugal's economy and culture.
