Your Guide to The Portugal Golden Visa Program
Looking to get a residence visa to Portugal? Well, you can receive one by making a significant investment in the country. The Portugal Golden Visa Program gives residence permits to non-EU citizens if they have made a significant investment in Portugal. It is also known as the residence permit for investment activity. The rules that govern the granting of the Portugal Golden Visa came into effect in October 2012 with an aim of attracting more international investors to the country.
Portugal is a lucrative option for anyone looking to reside in the EU. With its beautiful landscape and hospitable climate, Portugal also offers a lower cost of living, making it one of the most sought-after destinations. Investors are always willing to invest in the country and gain the right to live and work in Portugal.
Why is the Portugal Golden Visa Program useful?
There are many ways that the Portugal Golden Visa gives you a much faster and easier entry to Portugal as a resident by investment. Some of the biggest benefits of acquiring the Golden Visa to Portugal include –
- It offers one of the most affordable investment options in all of the EU.
- You can add your family members to the visa, including your spouse, children under 18 years old, dependent children (studying) up to 26 years of age, and other dependents like your or your spouse’s parents and minor siblings, if any.
- You can enjoy visa-free travel to any of the countries in the Schengen Zone for up to 90 days within any 180-day period, along with family.
- You only need to stay in Portugal for a minimum of seven days a year, unlike other visa programs that require you to stay full-time in the country to renew your visa.
- You can live in Portugal with your family and have access to the country’s education and healthcare services.
- After five years of acquiring the Golden Visa, you can apply for a Portuguese passport, which gives you access to the EU free market and the ability to travel to more than 100 countries.
These are some Portugal Golden Visa properties that make it a highly sought-after visa in the EU. But there are also certain criteria that you need to fulfill before you can apply for this coveted Portuguese visa.
What are the Portugal Golden Visa Requirements?
To be eligible for the Golden Visa Portugal, it is essential to fulfill the following eligibility criteria –
- You must be at least 18 years of age
- You have to make a significant investment in Portugal that can be considered beneficial to the country’s economy
- You must have a clean background with no past or present criminal charges
- The money you are investing must be your own
- You have to make a commitment to maintain the investment you have made for at least five years
The investment options that you have when applying for a Golden Visa include the ones listed below. You have to make at least one of the following investments to be eligible for the Golden Visa Portugal.
- Buy property worth no less than €500,000, with a minimum of €400,000 for investments in low-density areas.
- Invest at least €350,000 in a Portuguese urban revival area property, provided the project qualifies for investment by Portuguese Immigration and Borders Service. The investment limit is lowered to €280,000 for low-density areas.
- Invest in a qualifying Investment Fund in Portugal, which usually includes venture capital investments in startups or real estate. The lower limit of such investments is at least €350,000. These investments are governed by the Portuguese CMVM which is the Securities Market Commission.
- Get a Portuguese bank account and make a deposit of at least €1 million in the account.
- Invest in a Portuguese company with a lower limit of at least €1 million.
- Buy shares of a company worth no less than €1 million.
- Invest €350,000 or more to create a commercial company in Portugal or to reinforce the share capital of an existing company and create at least five jobs for Portuguese nationals through this effort.
- Create at least 10 jobs through your investments in Portugal.
- Invest at least €350,000 in scientific research at Portuguese institutions.
- Invest at least €250,000 in the arts or the reconstruction of Portugal’s national heritage.
Any one of these investments listed by the Portugal Golden Visa Program makes you eligible for the Golden Visa. But from January 1, 2022, some new rules are likely to be introduced. Before applying, you should go through the new Golden Visa rules with an experienced Portugal Golden Visa lawyer.
List of Golden Visa Portugal documents required
To apply for the Portugal Golden Visa, you will need to produce all the relevant and necessary documents along with your application. These documents include:
- A valid passport from your country of origin or any other government-approved travel permit.
- Proof of your investment in Portugal. Consult a Portugal Golden Visa law firm to know which proofs qualify.
- Declaration from the Portuguese bank or financial institution you have transferred funds to.
- Proof of your healthcare coverage.
- Criminal records of your present country of residence, which must be produced within three months of applying.
- Signed declaration to comply with the minimum investment period requirements.
- Authorization to SEF to access criminal records in Portugal.
- Proof of your tax and customs history in Portugal and your standing with the social security system.
- Receipt of your application fee payment.
Portugal Golden Visa application process
The Golden Visa application process is relatively simple. You need to complete the following steps.
1. Choose the type of investment you are going to make.
2. Arrange all the necessary documents, and make sure they are legalized and translated wherever required.
3. As you are required to make the investment from a bank account in Portugal, you will need to open a Portuguese bank account.
4. Complete your investment in Portugal.
5. Submit a pre-application. A Portugal Golden Visa law firm can complete this application for you and notify you if anything else is required.
6. Appear for your biometrics interview with SEF. This interview is usually scheduled within two months of submitting the application. You and all your dependents applying for visas need to be physically present to provide your fingerprints and complete the process.
If everything is in order, you and all your eligible dependents will have the Golden Visa approved. It takes about four months to receive your visas. The visa is issued for a period of two years initially and can be renewed beyond that. After five years, you can also apply for Portuguese citizenship.
Consult our experienced Portugal Golden Visa lawyers
The Portugal Golden Visa program is an amazing opportunity for investors who are looking for opportunities in Portugal. To make sure that your application is approved the first time, you will need some guidance with the documentation and application process.
Let our experienced immigration lawyers help you with everything you need, from the listing of documents to legalization and translation. We specialize in Portuguese citizenship laws and can provide you with a wealth of knowledge to help you close the application faster.