The Portugal residence by investment program was first introduced in 2012. The Portugal Golden Residency program rapidly became a popular path towards European residence for wealthy foreigners. Approved applicants receive temporary residence totaling 5 years, after which the investor can apply for permanent residence. After 6 years of living in the country, they become eligible for Portugal citizenship. The Portuguese passport is one of the world’s best, with visa-free travel to the U.S. and freedom of movement across Europe. The Portugal tax regime is also very advantageous to non-domiciled individuals as they are not liable for their foreign income.