I get very often asked for details about how a person can qualify to get the Portuguese Golden Visa. I used to answer to these questions basing on my personal experience, but it was not enough. I think nowadays anybody has the same chance of making this investment, so I decided to write a post about it and share the information with all of you. using a website: Do you want to find out how to get a golden visa for Portugal ? In the past, getting a golden visa was complicated and required investments of at least 500,000 euros. With new changes introduced on August 23, 2018, this has changed. Now, there’s no minimum time requirement to own or buy a property or land in Portugal . All you have to do is rent one. What this means is that it’s now easier than ever to get a golden visa for Portugal .
How Do I Get A Golden Visa For Portugal
Do you want a Golden Visa for Portugal? But are you uncertain where to begin? You’re in the right place. In this article, I’ll cover an overview of Portugal’s Golden Visa program, the eligibility requirements, where to physically sign up and a step-by-step guide of what to expect. We’ll also cover all the latest news and updates surrounding the Portuguese Golden Visa program.As of September, 2012, Portugal has instituted a Golden Visa program which makes it easier to obtain residency in Portugal if you invest in real estate. This article explains the requirements of this program, including the real estate investment minimum, and describes a few options people have regarding where they should purchase residency.
Portugal Golden Visa Residence Program
The Portugal Golden Visa is a residence visa issued to non-EU nationals who have made a significant investment in Portugal, such as purchasing real estate, making a capital investment, or creating employment opportunities.
It is a fast-track process for obtaining permanent residence and citizenship in an EU country – via the Golden Visa, you can become eligible for Portuguese citizenship in as little as five years.
Portugal Golden Visa Investment Options
To be eligible for a Golden Visa in Portugal, you must make one of the following investments:
- Purchase a property worth at least €500,000. If you purchase in a low-density area, the investment amount is €400,000.
- Invest €350,000 in a property in a Portuguese urban regeneration area. If you invest in a low-density area, the investment amount is €280,000. The project should qualify for investment by the Portuguese Immigration and Borders Service – SEF.
- Invest at least €350,000 in a qualifying Investment Fund. The investment options are regulated by the Portuguese CMVM (Securities Market Commission), and usually include venture capital investment in real estate or start-up tech companies.
- Make a capital transfer of at least €1 million in a Portuguese bank account.
- Purchase company shares worth at least €1 million.
- Invest at least €1 million in a company.
- Create at least ten jobs for Portuguese nationals.
- Invest at least €350,000 for the creation of a commercial company or to reinforce the share capital of a commercial company, through which you create at least five full-time jobs.
- Make a capital transfer of at least €350,000 for research activities in science or technology by either public or private scientific research institutions.
- Make a capital transfer of at least €250,000 to support the arts or reconstruction of national heritage.
Before choosing a program to invest in, you will have to consult with a range of experts.
The experts working for companies like La Vida – Golden Visas will offer a free consultation to determine your eligibility for the Golden Visa Scheme.
If you are eligible, they can help you choose the program most suitable for you, taking into account your financial situation, nationality, and preferences. They’ll also arrange a trip to Portugal (even help you apply for a Schengen Visa if required) so you can see your options yourself.
Contact La Vida advisors for further details.
If you are eligible, they can help you choose the program most suitable for you, taking into account your financial situation, nationality, and preferences. They’ll also arrange a trip to Portugal (even help you apply for a Schengen Visa if required) so you can see your options yourself.
Who Is Eligible to Apply for a Golden Visa for Portugal?
To be eligible for a Golden Visa for Portugal, you have to fulfil the following requirements:
- You must be over the age of 18
- You must make a significant investment that is beneficial to the Portuguese economy
- You must have no history of criminal records
- You must own the money you seek to invest
- You must commit to maintaining the investment for at least another five years
Can You Get Portugal Citizenship by Investment?
Yes, if you receive a Golden Visa, you become eligible for citizenship after five years. Unlike other countries, you do not actually need to live in Portugal during that period to acquire citizenship via the Golden Visa route. You only need to spend seven to fourteen days per year in the country.
However, you will have to prove you have accommodation in Portugal, a steady income, as well as knowledge of the Portuguese language, at least on a basic level.
Benefits of the Portugal Golden Visa
The Golden Visa for Portugal is a coveted visa for wealthy investors as it offers a wide range of benefits for the investor and their family members, such as:
Ability to Live and Work in an EU Country
A Portuguese Golden Visa grants you residence in Portugal, which is a member of the European Union. This means that you can eventually obtain a Portuguese passport and enjoy the full benefits of EU nationality: no borders, access to the EU single market, and life in a stable, democratic, prosperous, and secure community.
Businesses in the EU also enjoy the free movement of labour, goods, and services, and free access to more than 450 million consumers.
Access to Portuguese Healthcare and Education
As Portuguese residents or citizens, you and your family will have access to all its national services, such as healthcare and education.
Portugal has a public-funded healthcare system known as the Serviço Nacional de Saúde (SNS). In 2021, the World Index of Healthcare Innovation ranked Portugal third for patient care and medical infrastructure.
Portugal also boasts a relatively high-quality level of public education across all levels – from elementary school to university. The literacy rate in Portugal sits at 99.44 and Portuguese students continuously display higher than average scores at PISA tests.
Lowest Costs of Living in Western Europe
Portugal offers some of the lowest costs of living in Western Europe, without sacrificing the quality of life. Nearly everything is very affordable, from food to education, to healthcare, and leisure and social activities. Technically, you can live comfortably in Portugal with around USD 1,400 per month, although the costs of living depend largely on the selected lifestyle.
In fact, Portugal is considered one of the best destinations for expats, consistently ranking high on international surveys. On the Expat Insider 2021 survey, it ranked at number five – the only European country to make it on the top ten list.
Visa-Free Travel to Europe
A Portuguese Golden Visa automatically grants you the right to travel anywhere in the European Union without a visa. Additionally, many non-Schengen countries will also allow you to enter visa-free as long as your visa or residency permit is available.
Then, once you obtain your Portuguese passport, you will also enjoy the full right to travel visa-free to over 100 countries in the world.
Portuguese Passport in as Little as Five Years
Only five years after your investment, you can obtain a Portuguese passport. Although it is not instant, five years is a relatively short period of time to obtain EU citizenship, especially considering the very lenient residency requirements.
A Portuguese passport will grant you the right to live, work, invest anywhere in the European Union. You can also visit over 150 countries without a visa.
Lenient Residency Requirements
To obtain Portuguese citizenship, you do not need to live in Portugal full-time. You just have to be in the country for seven days out of the first year, and then 14 days in the following two year periods. Once five years have passed, you can apply for Portuguese citizenship and residency requirements will no longer be necessary.
What Family Members Can Apply for a Portugal Golden Visa?
You can include the following family members in your application for a Portuguese Golden Visa:
- Your spouse or partner.
- Children under the age of 18.
- Children over the age of 18, who are dependent on you financially. Adult children must be enrolled in full-time education and unmarried to qualify as dependents.
- Siblings under the age of 18 of either yourself or your spouse/partner. For siblings to qualify as dependents, you or your partner must have legal custody of them.
- Dependent parents (over the age of 55) of either you or your spouse/partner. You must provide documents proving their dependency unless they are older than 65.
Any family member included in your application will receive a Portuguese residence permit card and enjoy the same rights and privileges as you.
How to Apply for a Portugal Golden Visa?
The process of obtaining a Portuguese Golden Visa is divided as follows:
- Visit Portugal and choose your investment.
- Set up a Portuguese bank account and tax number.
- Complete your investment.
- Apply for the Portugal Golden Visa.
- Receive your residence permit.
- Apply for Portuguese citizenship/permanent residence.
Step 1: Visit Portugal and Choose Your Investment
You (or your lawyers) should arrange a prior trip to Portugal so you can see your options and kickstart the process of investment. If you are interested in investing in real estate, during your initial visit, you will visit properties, meet with lawyers, and (if it is your preference) grant power of attorney to a representative.
If you want to invest in one of the other options, your lawyer will help you set up the necessary meetings and documents for the transfer.
If you are from a country with visa requirements, you may need a Portuguese Schengen visa to visit Portugal for this short initial trip.
Step 2: Set Up a Portuguese Bank Account and Tax Number
Before you can finalise your investment, you will need a Portuguese tax number and bank account.
You can obtain a tax number, also known as a NIF number (Número de Identificação Fiscal) at the local office for Tax and Customs Authority (the Taxpayer Registration Services). There will be a set of forms you must complete (provided by the tax office) and documents to submit regarding your need for a Portuguese tax number.
You can set up a bank account with any trusted financial institution in Portugal. The process is pretty straightforward, the same as anywhere else in the world – you just visit the bank and ask to have a bank account set up.
For both these processes, you must have documents proving your income, home address, and identification document.
Step 3: Complete Your Investment
Once you have set up your bank account and the tax number, you can finally complete your investment. The investment can take months to be finalised; you cannot apply for the Golden Visa until you have the necessary documents proving you have secured it.
See “Required Documents for Portugal Golden Visa Application” below.
After you have finalised your investment, you can return home to collect the required documents and apply for the Portuguese Golden Visa.
Step 4: Apply for the Portuguese Golden Visa
Once your investment has been completed, you can finally submit the application for a Portuguese Golden Visa at the Immigration and Borders Service (SEF). The process is as follows:
- Register with the ARI Portal (Residence Permits for Investment Activities) here. ARI is the SEF’s online portal for handling Golden Visa Applications. You can register yourself or a legal representative may do it on your behalf.
- Attach electronic copies of the required documents (in PDF, and no bigger than 4MB).
- Pay all the relevant fees.
- Wait for confirmation from the SEF.
- Schedule an appointment to submit your Golden Visa application at a local branch of the SEF.
If you do not wish to apply for the visa in person, you can give Power of Attorney (POA) to a legal representative to apply on your behalf, such as golden visas experts at La Vida. Your legal representative can then submit the visa application for you and your family members, as well as help you perform your investment.
Step 5: Receive Your Portuguese Residence Permit
After you submit your application, it can take from three to six months to receive your residence permit card. The card is valid for one year initially and can be renewed for a maximum of five years.
With your Portuguese residence permit card, you can live and work in Portugal freely, and enjoy the same benefits as all other Portuguese citizens and residents.
Final Step: Apply for Permanent Residency or Citizenship
Five years after making your investment, you become eligible to apply for Portuguese citizenship or permanent residency. At this point, you will need to demonstrate that you have ties to Portugal and pass a general knowledge test. The test proves that you can speak Portuguese at at least an A2 level (conversational) and you have general knowledge of Portuguese society and laws.