Are you looking for a Golden Visa to live and invest in Portugal? If so, you’re in the right place. This complete guide will show you everything you need to know about the Portugal Golden Visa program, including how to apply, the requirements, and the benefits. We’ll also share some insider tips to help you maximize your chances of success. So if you’re ready to learn more about the Portugal Golden Visa program.
The Portugal Golden Visa program allows foreign investors to get a permit to live in Portugal in exchange for putting money into the Portuguese economy.
What is the Portugal Golden Visa?
The Portugal Golden Visa Program, also called the Residence Permit Program, gives non-EU citizens a chance to live in Portugal for five years in exchange for an investment. It’s a component of Portugal’s effort to encourage foreign investors.
Portugal captivates visitors with its captivating Atlantic coastline, lush landscapes, and year-round weather. The golden visa lets investors and their families live, work, and go to school in Portugal. It also lets them travel freely in the Schengen Area of Europe.
You may be if you keep the qualifying investment for at least five years and meet all of Portugal’s immigration and nationality rules. In that case, able to become a permanent resident or citizen.
There are two main types of Portugal Golden Visas:
- The Residence by Investment Visa
- The Golden Residence Permit
The Residence by Investment Visa
The most common type of Golden Visa in Portugal is To qualify for this visa; you must make a qualifying investment in Portugal of at least €500,000. This investment can be in the form of real estate, a business, or a combination of both. Once your investment is approved, you’ll get a one-year permit to live there. After 1 year, you can renew your residency permit for an additional 2 years. And after 5 years, you can apply for permanent residency in Portugal.
The Golden Residence Permit
It is the second type of Portugal Golden Visa. To qualify for this type of visa, you must make a qualifying investment in Portugal of at least €1,000,000. This investment can be in the form of real estate, a business, or a combination of both. Once your investment is approved, you’ll get a 5-year permit to live there. After 5 years, you can apply for permanent residency in Portugal. So, which type of Portugal Golden Visa is right for you? It depends on your investment goals and budget.
The Residence by Investment Visa is the best option if you’re looking for a fast track to Portuguese residency. But if you’re looking for a long-term investment with the potential for citizenship, the Golden Residence Permit is the better option.
Although applying for a golden visa is rather simple, there are a lot of processes to follow for a successful application.
1 – Onboarding: After choosing your investment, you must gather the necessary documentation for yourself and any dependents you plan to list on the application. We will submit the appropriate inspection papers after making sure they are in order.
2 – Bank account and NIF: We will designate a fiscal representative to help you obtain the tax identification number (NIF) in Portugal. We can assist you with opening a bank account in Portugal after you have your NIF. We can handle this remotely.
3 – Invest: We can start protecting your money and will walk you through the documentation needed to ensure your investment is effective.
4 – Online application: Submit an online application.
5 – Pre-approval: Your application will be pre-approved if you meet the standards.
7 – Biometrics visit: It typically takes two months from the time you schedule your interview to physically attend a biometrics collecting session.
7 – Golden Visa issuance: After your biometrics, it typically takes 4 months for SEF to issue your Golden Visa. Pay the price for obtaining a government permit. The residence cards will subsequently be gathered on your behalf by us and sent to you.
Portuguese Investment Options for Golden Visas
Portugal is a good place for businesses that want to set up shop in the EU because it has a growing economy and a vibrant startup ecosystem. Due to Portugal’s booming real estate market, many real estate investors have bought homes for sale there.
Before the residency permit, an investment must be made before action is sent in.
The available investment choices for the Portugal Golden Visa are listed below in brief:
Real estate for homes: Buy a home in one of Portugal’s designated interior regions for at least €500,000, or €350,000 if you engage in a rehabilitation project. A 20% discount is applied if the residential property is situated in a designated “low-density” region.
Commercial Real Estate: Invest in commercial real estate worth at least €500,000, or €350,000 if you’re financing a renovation project anywhere in the nation. A 20% discount is given if the commercial property is situated in a “low-density” neighborhood.
Purchase Residential or Commercial Real Estate in Madeira or the Azores: Purchase residential or commercial real estate anywhere on Madeira or the Azores, Portugal’s autonomous islands, for at least €500,000, or €350,000 if you decide to engage in a restoration project.
Fund Membership: Contribute to a qualifying investment fund for at least €500,000.
Make a capital transfer of no less than €1.5 million.
Scientific Research: A minimum €500,000 investment in science or technology research
Job creation: The incorporation of a company and the creation of ten jobs worth at least €500,000.
Donation: Make a minimum €250,000 donation to support the arts or the restoration of national heritage.
Now that we’ve covered the Portugal Golden Visa program’s basics let’s look at the requirements and benefits.
Requirements for the Portugal Golden Visa
There are four main requirements for the Portugal Golden Visa:
- You must make a qualifying investment in Portugal
- You must have a clean criminal record
- You must have health insurance
- You must be able to prove that you have sufficient funds to support yourself
Let’s take a closer look at each of these requirements.
- You must make a qualifying investment in Portugal. As we mentioned, there are two types of Portugal Golden Visas: the Residence by Investment Visa and the Golden Residence Permit. The investment requirements for each of these visas are different. For the Residence by Investment Visa, you must make a qualifying investment of at least €500,000. For the Golden Residence Permit, you must make a qualifying investment of at least €1,000,000. Your investment can be in the form of real estate, a business, or a combination.
- You must have a clean criminal record. To qualify for a Portugal Golden Visa, you must have a clean criminal record. This means you cannot have any convictions for crimes of moral turpitude or any other serious crimes.
- You must have health insurance. To qualify for a Portugal Golden Visa, you must have health insurance. Your health insurance must be valid for your stay in Portugal.
- You must prove that you have sufficient funds to support yourself. To qualify for a Portugal Golden Visa, you must be able to prove that you have sufficient funds to support yourself. This means you must have enough money to cover your living expenses for your stay in Portugal. If you’re applying for the Residence by Investment Visa, you must have €500,000 in liquid assets. If you’re applying for the Golden Residence Permit, you must have €1,000,000 in liquid assets.
Benefits of the Portugal Golden Visa
There are four main benefits of the Portugal Golden Visa:
- Residency in Portugal
- Visa-free travel in the Schengen Area
- The ability to work in Portugal
- The ability to apply for Portuguese citizenship
Bridgeway Trust is a Residency and Citizenship by Investment consultancy and a part of the Better homes Group, the largest Real Estate Group in Dubai, established in 1986. Our international consultants have over ten years of experience in the field and unrivaled knowledge about solutions suitable to our diverse client base.
If you’re interested in applying for a Portuguese Golden Visa, we highly recommend that you follow the steps in this guide. We can’t guarantee that you’ll be approved for a visa, but if you are, it’ll be a great opportunity to live and work in an amazing country.
Once you’ve been granted a Golden Visa, you’ll be able to live and work in Portugal indefinitely. You’ll also be able to travel freely within the Schengen Area.