Golden Visa is considered to be very beneficial to the investors, because they aid in getting a residency of Portugal with which a person can stay in this country for 10 years without any time limit and have the right to live here without any further visa application.The Golden Visa in Portugal, also known as the Residence Permit for Investment Activity, is a fast track residence permit, created by Portuguese Decree Law 44/2015. This residence permit can be granted to foreigners and also to Portuguese nationals as well as their foreign spouses. This visa grants the foreign investor a five-year residence permit for Portugal and has a two-year renewal option. There are several investment opportunities available through the Golden Visa programme which are offered by partnerships between the autonomous regions of Azores and Madeira, the municipalities of Lisbon and Porto and by investment companies authorized to operate by Portugal’s State Secretariat for Internationalisation of Business (SEI).

Golden Visa For Portugal

The wide-reaching Residence Permit for Investment program for Portugal grants non-EU citizens the right to stay in Portugal on the condition that they purchase a property within the country and spend no less than 5 days per year there.

The Portugal Golden Residence Permit Program

The Portugal Golden Residence Permit Program (commonly known as the Portugal Golden Visa Program) is a five-year residence by investment program for non-EU nationals. The residence permit gives the right to live, work, and study in Portugal and allows free circulation in Europe’s Schengen Area. Furthermore, the program only requires an average of seven days per year stay in Portugal over this period, which can also count towards citizenship eligibility after five years.

Benefits of the Portugal Golden Residence Permit Program

• Visa-free travel in Europe’s Schengen Area and the right to live, work, and study in Portugal
• Eligibility to apply for citizenship after five years as a legal resident while keeping other citizenship(s)
• Low physical presence requirement (seven days during the first year of residence and 14 days for the two subsequent years, which can count towards citizenship eligibility after five years)
• Excellent international and Portuguese schools and universities
• High quality of life, local cuisine and wines, rich culture, mild climate, and a high level of security
• International quality healthcare clinics and hospitals

Requirements of Portuguese residence by investment

Applicants can choose any one option in any of the three categories: capital transfer, property acquisition, business:

Capital transfer

One of the following options:

1. EUR 1.5 million minimum capital transfer into a Portuguese bank account or approved investments
2. EUR 500,000 for the acquisition of investment fund or venture capital fund units committed to the capitalization of companies incorporated under the Portuguese law, with a maturity of at least five years and with at least 60% of the investment portfolio in companies with a registered office in the national territory
3. EUR 500,000 for research activities of public or private entities that are part of the national scientific and technological system
   • EUR 400,000 in a low population density area*
4. EUR 250,000 in support of artistic production or in the recovery or maintenance of national cultural heritage
   • EUR 200,000 in a low population density area*

Property acquisition

One of the following options:

1. EUR 500,000 minimum real estate purchase (residential property is limited to designated interior areas)
   • EUR 400,000 in a low population density area*
2. EUR 350,000 minimum real estate purchase for the refurbishment of residential properties older than 30 years or in an area of urban regeneration, including the cost of renovations (residential property is limited to designated interior areas)
   • EUR 280,000 in a low population density area*

Business

One of the following options:

1. Creation of a minimum of ten new jobs
   • Eight new jobs in a low population density area*
2. EUR 500,000 for the incorporation or increase of the share capital of a company that is registered in Portugal, creating or maintaining a minimum of five permanent jobs for a period of three years

*A low population density area is defined as less than 100 inhabitants per km² or with a GDP per capita below 75% of the national average.

Procedures and time frame of the Portugal Golden Residence Permit Program

After the residence permit has been received, the client will need to provide biometric data and updated original documents at each renewal. The first permit is usually issued for one year; however, due to the Covid-19 pandemic, it is now issued for two years. Thereafter, the permit may be renewable for two subsequent periods of two years.

The Portugal Golden Residence Permit Program requires the main applicant to make two trips to Portugal during the application period:

1. To choose the qualifying investment, start the legal process, and open a bank account
2. To provide the biometric data and original documents

After the residence permit has been received, the client will need to provide biometric data and updated original documents at each renewal.

The process to acquire a Portuguese residence permit through investment takes over six months.