Portugal’s Golden Visa and Dominica’s Citizenship By Investment programs are two such pathways.
How do they fare when viewed through the lens of eco-travel and sustainability?
Portugal’s Golden Visa: Eco-Friendly Gateway to Europe
Portugal, with its rich history and diverse landscapes, has always been a top destination for travelers.
The Golden Visa program, introduced in 2012, offers non-EU residents a chance to obtain residency by making significant investments in the country. But what sets this program apart is its alignment with sustainable initiatives.
Real Estate Investment with a Green Twist:
- Investors can opt for eco-friendly properties, promoting green construction and sustainable living.
Supporting Renewable Energy:
- Investments can be channelled into renewable energy projects, bolstering Portugal’s commitment to a greener future.
- By investing in the rehabilitation of historical properties, investors contribute to preserving Portugal’s cultural heritage in an eco-friendly manner.
The Portugal Golden Visa Program, also known as the Residence Permit Program, is a five-year residency-by-investment scheme designed for non-EU nationals. This program is part of Portugal’s strategy to attract foreign investors to the country.
It has gained immense popularity among global investors, making it one of the most sought-after residency programs of its kind.
Despite rumors about the program’s termination, the Portugal Golden Visa is not ending. However, significant changes have been introduced. As of July 2023, real estate investments no longer qualify for the program.
Instead, eligible investments will now include options such as investing €500,000 in non-real estate-related collective investment structures, setting up or investing in existing companies with a minimum of €500,000 and job creation, and contributions in artistic and scientific domains.
Key Features of the Program:
- Investment Options: The program offers a variety of investment routes, including real estate (with certain restrictions), investment funds, capital transfer, and business set-up
- Minimum Stay: Investors are required to spend an average of 7 days per year in Portugal.
- Family Inclusion: Dependents, including spouse and children, can be included in the application.
- Path to Citizenship: After five years of maintaining the investment, applicants can apply for Portuguese citizenship, one of the reasons for it to be known as well as the golden passport portugal
- Benefits: Visa-free access to the Schengen area, the opportunity to live in a country with a high quality of life, and potential tax benefits through the Non-Habitual Resident Tax Regime.
The Portugal Golden Visa Program offers a unique opportunity for investors to gain residency in one of Europe’s most beautiful and culturally rich countries. With a range of investment options and the potential for European citizenship, it’s no wonder the program has garnered such global attention.
As with any investment, it’s essential to stay updated on the latest program changes and consult with experts to ensure a smooth application process.
Dominica’s Eco-Friendly Citizenship By Investment
Dominica, known as the “Nature Isle of the Caribbean,” offers a unique Citizenship By Investment program that resonates with its eco-friendly ethos.
Investment in Eco-Tourism:
- Dominica encourages investments in eco-resorts and sustainable tourism projects, ensuring that the island’s natural beauty remains unspoiled.
- A portion of the funds from the program is channeled into conservation projects, ensuring the protection of the island’s rich biodiversity.
Promotion of Organic Farming:
- Investors can also support organic farming projects, promoting sustainable agriculture and reducing the island’s carbon footprint.
Dominica’s citizenship by investment program allows individuals to obtain a passport in just a few months. Here are the key details:
Economic Development Fund (EDF): Make a donation starting at $100,000.
Real Estate: Invest a minimum of $200,000 in government-approved real estate developments.
- Visa-free access to over 140 countries, including the European Union, Hong Kong, Singapore, Russia, and China.
- No income tax on worldwide income, no capital gains tax, and no inheritance tax.
- Opportunity to invest in the Caribbean’s thriving tourism industry.
- Second citizenship offers alternatives during global instability.
- Live in any of the 15 member states of the Caribbean Community (Caricom).
Main applicant must be over 18 years old, have an outstanding character, excellent health, no criminal record, and pass a detailed background check.
Family members such as spouse, children, parents, and grandparents can be included.
Comparing Environmental Impact of Both Options
Both Portugal and Dominica offer pathways for eco-conscious individuals to obtain citizenship while supporting sustainable initiatives.
While Portugal’s program focuses on green construction and renewable energy, Dominica’s program emphasizes eco-tourism and conservation.
For eco-travelers, the choice boils down to their personal preferences and the kind of environmental initiatives they wish to support. Both programs, however, ensure that investors can make a positive impact while obtaining global citizenship.
- Global Mobility: With visa-free access to over 140 countries, how might a Dominica passport enhance one’s global mobility and opportunities?
- Investment Decisions:Given the two primary investment routes (EDF and Real Estate), which one offers the best return on investment and long-term benefits?
- Natural Disasters: Considering Dominica’s vulnerability to hurricanes, how might this impact one’s decision to invest in real estate in the country?
In the world of sustainable travel, the journey is as important as the destination. Portugal’s Golden Visa and Dominica’s Citizenship By Investment programs offer not just a chance to become global citizens but also an opportunity to contribute to a greener and more sustainable future.
As eco-explorers, the choice is ours to make, ensuring that our global footprint is not just light but also green.