Golden Visa Portugal
What Options Are Available For Residency in Portugal?
There are two main options available for residency in Portugal:
What is Portugal’s Golden Visa program?
The Golden Visa in Portugal commenced in 2012 and was created as a way of enabling non-EU citizens the right to gain a residency permit typically in exchange for a 5-year real estate investment. Not only has the Golden Visa program helped people live and work in Portugal, but it has also done wonders for the local economy. It’s said that nearly five billion euros have been invested in Portugal since the launch of the scheme.
Portugal’s Golden Visa is one of the most popular citizenship by investment programs in Europe, because of the relatively affordable entry level and attractive tax advantages. Portugal is also known as a safe country to live with high quality of life, schools and health care.
The Golden Visa scheme is one of the most in demand immigration schemes in the world and as of May 2020, there have been over 8,700 successful applications. The well loved Prime Minister has repeatedly said that the country welcomes new immigrants, a rarity in the current global economic and political climate, and the scheme will continue to be very popular.
Those who gain access to Portugal’s citizenship by investment only need to spend 7 days per year in Portugal to maintain the residency, still keeping all the benefits that come with being an EU resident, including visa-free unlimited travel and the option to live and work in Portugal.
Find out more below
Information on Portugal’s Golden Visa Program
It is also enormously popular with Portuguese society, as by May 2020 this relatively small country had seen nearly 5 Billion Euros in foreign direct investment since the programme started in 2012 – a huge boost for the economy and a country that had seen declining population numbers in the years following the financial crisis. Since the scheme started, Portugal has emerged as one of the fastest growing economies in Europe thanks largely in part to inward investment via the Golden Visa programme and other avenues. This is a country that has the aspiration and vision to become the Monte Carlo of the Atlantic Coast and the political will to pull it off.
Portugal is a safe haven for those seeking an alternative option to other more traditional countries such as Canada, the U.S., the U.K. and Australia who are making it much harder for people in Asia to emigrate with more stringent criteria, and investment schemes that require much larger capital outlays, with higher capital risk. The prospect of greater returns is obvious in Portugal and allows investors a smooth entry into a Eurozone country that boasts one of the most stable and best lifestyle environments in the World.
Portugal Economy Remains Strong
The Portuguese Economy has entered a golden growth period and it is a key time to invest with a fantastic lifestyle environment. Moreover, the Portuguese Golden Visa scheme does not require you to move to the country – one must spend only 7 days a year for 5 years in order to obtain Permanent Residency, after which you can apply for a Portuguese passport and EU citizenship. This means you can continue your life as normal and, thanks to double tax treaties between Portugal and many International countries such as Hong Kong, Macau and China, there is no need to increase your tax burden.
We firmly believe that Portugal is the best global safety net coupled with world-class schools and education, excellent climate, a booming economy, fresh seafood with high E.U. food safety standards, widely spoken English, award winning medical services, one of the World’s cleanest environments. With all of this combined with a streamlined visa process, and emerging international communities, it is simply the best residency programme in the World right now.
Questions about Portugal's Golden Visa Program
What are the main benefits for Portugal’s Golden Visa Program?
- Instant visa free travel across the 27 Schengen countries
- Can obtain the Portuguese Permanent Residency (and Passport if required), with full EU citizenship after 5 years
- Only a minimum real estate investment of 500,000 Euros (Lisbon, Porto, & the Algarve), 350,000 Euros (specific properties requiring renovation) or 280,000 Euros (second tier, low population density up and coming locations) is required.
- Family reunification so your application can include up to three generations, subject to conditions, such as your parents, spouse, and children under the age of 18, or up to 26 if they are full time students.
- The initial Golden visa process generally takes only 4-6 months to receive residency cards, allowing applicants to work, live and study in Portugal.
- No relocation required, only 7 days per year to retain benefits.
- Access to Public Services, thus potentially benefiting from Portuguese health care and education systems
- Double Taxation Treaties mean income received from the countries outside Portugal are often not subject to local taxation, subject to conditions.
What do I have to do in order to achieve Permanent Residency?
The Golden Visa scheme is only available to non-E.U. or E.E.A. citizens who must do the following:
- Make a qualifying investment and maintain it for 5 years
- Spend just 7 days per year in Portugal, for each of the 5 years
- Maintain a clean criminal record
Can I bring my family and how many members?
Under the Portugal Golden Visa Scheme you can bring your spouse, any children under the age of 18 or dependent children aged 18-26 if they are unmarried and in full-time education, as well as the parents of either spouse if they are aged over 66, or aged over 55 and dependent on the main applicant. You can also bring siblings under the age of 18 of either spouse, if they are your legal responsibility.
Am I able to apply for a Portugal Golden Visa?
If you are a non-E.U. or E.E.A. citizen, have no criminal record, are willing to purchase health insurance and have the means to afford one of the investment routes with no encumbrance, then you are eligible.
What are the main investment options?
Property Investment comprises over 90 % of all Golden Visa investments. The full list of options is as follows:
- Capital transfer of at least EUR 1 million into Portugal
- The creation of at least 10 jobs in Portugal
- Investment in property worth at least EUR 500,000
- Investment in property in urban regeneration areas at least 30 years old to the value of at least EUR 350,000
- Investment in property in certain low population density areas within Portugal, worth at least EUR 280,000
- Investment of at least EUR 350,000 in scientific research in Portugal
- Investment of at least EUR 250,000 in Portuguese culture, arts, and heritage
- Investment of at least EUR 500,000 in medium sized businesses in Portugal.
How long is the processing time for a Golden Visa Application?
Through Golden Visa Portugal, their specialist legal partners can help restrict the time to around 6 to 7 months provided you meet the eligibility criteria of the Portuguese Government. You know you are in the safest hands as this is what they specialize in doing and they will make this as painless as possible.
Should I be careful with certain companies offering Golden Visas and related services?
It is always good to be careful, particularly where companies make grand promises. A mixture of legal, property and immigration companies are taking advantage of Golden Visa applicants by offering investment options that both look great on paper and meet the investment requirements – however, these options, mainly property, are often priced way above market price to take advantage of foreign investors, and often the developments are not clear of horizontal planning. This means that after 1 year of the initial Golden Visa if the property is not fully legalized then the Golden Visa process is stopped at year 2. Golden Visa Portugal Limited with their legal team only work with property partners who sell clear developments to their Golden Visa clients.
It’s not uncommon to see firms offering properties to Golden Visa applicants for the convenient sum of €500,000 when the property is in fact worth much less. At Golden Visa Portugal Limited, they pride themselves on helping you make investment decisions which are in your interests and are based on their own experiences investing in Portugal where they see a solid investment with good rental and capital returns.
Also many companies charge very high fees compared to Golden Visa Portugal Limited, often three or four times more and even charge the buyer a sales commission on each property sale. Golden Visa Portugal Limited do not expose our clients to properties that charge sales commission.
Can same-sex couples also apply for the Portugal Golden Visa?
Yes, same sex couples in Portugal can apply for the Golden Visa, and have all the same rights as heterosexual couples. The children of same sex couples are also eligible for residency as dependents as long as under 18 years of age. Same Sex Marriage is fully recognized in Portugal.
What documents and paperwork can I help prepare to make things easier?
You need 3 months of original utility bills as proof of registered address to be able to open a Portuguese bank account, national I.D. cards. You need to provide all original birth and marriage certificates, secure a certificate of non criminal record from your place of permanent residence, have a valid passport of at least 2 years, get a valid health certificate from a recognized Doctor approved by the Portuguese Government.
A full list of all the documents will be provided to you once you enrol with Golden Visa Portugal Limited, and the lawyers in Portugal will quickly take care of all the legal work for the Portuguese immigration office.