What is the Portugal Golden Visa?
Launched in 2012, the Portugal Golden Visa is a residency permit granted to investors who make qualifying investments in the country. The program aims to attract foreign capital and stimulate economic growth by encouraging investment in real estate, business, and other sectors.
The Golden Visa program in Portugal has become one of the most popular residency-by-investment schemes in Europe. It offers non-EU nationals an opportunity to obtain residency permits through qualifying investments, allowing them to live, work, and travel freely within the Schengen Area. Here’s everything you need to know about the benefits and getting a Golden Visa in Portugal.
The Benefits of the Golden Visa
- Residency: The visa grants you and your family members the right to live in Portugal.
- Travel: Enjoy visa-free travel across the Schengen Area.
- Citizenship: After five years of residency, you may be eligible to apply for Portuguese citizenship.
- Family Reunification: Your spouse, children, and dependent parents can also benefit from the visa.
- No Minimum Stay Requirement: You only need to spend seven days per year in Portugal to maintain the visa.
The Visa Qualifying Investment Options
To qualify for the Golden Visa, you need to make one of the following investments:
1. Real Estate Investment
- Purchase property worth at least €500,000, or
- Buy property in low-density areas for at least €400,000, or
- Acquire real estate older than 30 years or located in urban regeneration areas for at least €350,000.
2. Capital Transfer
Transfer at least €1.5 million into a Portuguese bank account or approved investment fund.
3. Job Creation
Create at least 10 jobs in Portugal.
4. Research and Development
Invest at least €500,000 in scientific research conducted by public or private institutions.
5. Cultural Heritage
Invest at least €250,000 in the arts or national heritage preservation.
6. Investment Funds
Invest at least €500,000 in venture capital funds or startups.
The Portugal Golden Visa Application Process
- Choose your investment option and make the qualifying investment.
- Gather the required documents, including passport copies, proof of investment, criminal record certificates, and health insurance.
- Submit your application online through the Portuguese Immigration and Borders Service (SEF).
- Attend a biometric appointment in Portugal.
- Receive your Golden Visa residence permit, initially valid for one year.
- Renew your permit every two years by maintaining your investment and meeting the stay requirements.
The Portugal Golden Visa Costs and Fees
Apart from the investment amount, applicants should budget for government fees, legal assistance, translation and notarization of documents, and travel expenses. Government fees usually range from €5,000 to €10,000 depending on the number of applicants.
The Portugal Golden Visa Residency Requirements
To maintain your Golden Visa, you must spend at least seven days in Portugal during the first year and 14 days in each subsequent two-year period. There is no requirement to live permanently, allowing flexibility for investors.
The Portugal Golden Visa Path to Citizenship
After five years of holding the Golden Visa and meeting residency and language requirements, investors can apply for permanent residency or Portuguese citizenship. Citizenship grants you the right to live freely in the EU and access other benefits, such as voting rights.
Conclusion
The Portugal Golden Visa offers a pathway to European residency and citizenship through various investment options. It combines flexibility, attractive benefits, and a relatively straightforward process, making it an excellent choice for investors seeking to establish a foothold in Europe. If you are considering applying, consult with legal and financial experts to ensure compliance with all requirements and to select the best investment option for your circumstances.
For more tips and guides on travel, tour, and vacation, please write to us