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South Africa has been experiencing a mass exodus in recent years. This outpouring of residents has been attributed to various reasons including; high reported levels of violent crime, unaffordable and rising private education costs, exorbitant private healthcare fees, weakening currency strength and poor career progression opportunities.
Many South African’s have emigrated to Middle Eastern destinations including Dubai, Abu Dhabi, Doha, Riyadh and Bahrain in recent years seeking greater career opportunities & higher levels of personal security. Whilst this is an excellent short/medium-term solution, it is often dependent on the continuation of working visas. Once South African’s finish working, their residency options become more limited.
Most South African’s who have emigrated, have little intention of returning in the future, however, unfortunately, some will be left with limited choices, unless they take action.
One solution which provides South African’s with the ability to live outside of South Africa permanently is Portugal’s Golden Visa Scheme.
The scheme was set up by the Portuguese Government in 2012, to generate inward investment in exchange for citizenship rights.
The scheme has been a major success and has attracted thousands of investors to Portugal seeking not only citizenship but an attractive real estate opportunity too.
Below we briefly list some of the other main benefits of becoming a Portuguese citizen.
– Strong political stability
– Attractive tax benefits (10% tax cap on foreign income)
– Strong historical real estate investment growth 6% per annum
– Right to live & work in the EU
– Visa-free travel to Schengen area (26 countries)
Invest 350,000 USD into a property in Lisbon or Porto.
Obtain residency within 4 months.
Spend 7 days in Portugal in year 1 & 14 days in Portugal for the following 6 years.
Obtain full citizenship/passport rights for you and your family for life.