Portugal's Golden Visa : More Americans Relocate to the EU. Talking with Jason Swan.

But first of all, let's take an overview about the country itself.

Portugal is a politically stable nation of 11.4 million people.

Located on the southwest coast of the Iberian Peninsula, it borders the Atlantic Ocean to the west and to the east, Spain.

It's a member of the European Union, and Portuguese citizens and permanent residents enjoy all the benefits of the 27-member EU, including freedom of movement around the EU countries.

A Portuguese passport is accepted by more than 180 countries in the world.

So, Jason, why did Portugal create the Golden Visa Program, number one? Tell us about it and why so many Americans have opted for it.

Well, the program was launched back in 2012, Jim, and there's been now over 40,000 applications submitted collectively.

And the program has changed somewhat since 2012, but it remains to be, by quite some distance, the most popular.

popular route into Europe for those either seeking residency here or citizenship here.

And there's been a particular spike from American citizens, I would say, since around 2023, towards the end of 2023.

And there's a number of reasons why not just Americans, but various nationalities, I think, consider the program.

As you quite rightly said, Jim, it gives access to the healthcare system here in Portugal.

It allows children to study here in Portugal and the option to enjoy living here up to 365 days every year without the need or the commitment, should I say, to live here full time or the need to be tax resident here either.

Now, when Portugal first created this Golden Visa program, was their focus primarily on trying to attract new investment?

Well, that is, there's twofold on that question, Jim.

I think first of all, Portugal, a large percentage of Portugal's GDP comes from the immigration and in particular the golden visa program with regard to government costs, both at the initial application stage, but also the renewal fees payable to the government as well.

So it's a great source of income.

the country but of course on each application there is upwards of 250 000 euros coming into the portuguese economy which has had a tremendous impact on on the country you know if you have a look at the statistics of portugal both from the immigration perspective and a financial perspective everything has been a one-way trajectory really over the past 10 years or so

What form does that investment take? For instance, you said 250,000 euros, which would be the equivalent of about 275,000 US dollars, $300,000 more or less.

Does that, for instance, does that include setting up a company, providing jobs, that kind of an investment? Or does it include a more passive investment, such as investing in stocks, bonds, mutual funds? Or is it all of the above?

Very much all of the above.

Jim, and investors have the choice of five categories.

The first is they can expand an existing business into Portugal or set up a new business here.

And as long as they create a number of 10 jobs in Portugal, that would be rewarded with a golden visa from the Portuguese government.

There's a second and third category by a description of a donation to the government as well.