Portugal Golden Visa Residence Permit Program (Golden Visa), which began in 2012, allows non-EU/EEA persons to obtain a special residence permit in exchange for an investment in the country. The Program has already benefitted thousands of investors and has also proven beneficial to the economy of Portugal. Under this Program, investors are required to spend only seven days per year in Portugal to maintain their residency status while at the same time being able to take full advantage of all the benefits offered.
Portugal offers beautiful scenery, a long coastline, a warm climate, friendly people, and delectable cuisine. Added to this is the relatively low cost of living. These characteristics make Portugal a very appealing country in which to live, work, study, and recreate. Moreover, it offers investors the opportunity of applying for citizenship after obtaining residency.
How to Apply for a Golden Visa?
The procedure is straightforward. If you don’t speak Portuguese, do not worry as we will provide the necessary support to ensure that you fully understand the process at all times. In a nutshell, the process comprises the following steps:
- Have the investment funds ready.
- Collect all relevant documents from your country of origin.
- Complete and submit your application and pay the processing fee.
- Await preliminary approval.
- Schedule an appointment for your biometric data collection.
- Await final approval.
Who Is Eligible for the Golden Visa?
An individual who is not an EU, EEA, or Swiss national can apply for a Golden Visa. Applicants must be a minimum of 18 years of age and hold a clean criminal record. The funds for investment should be remitted from outside of Portugal. A Golden Visa can be extended to include family members.
A qualifying investment is required to be made under the Program and can consist of any one of the following:
- Real Estate Investment in a Government approved the project with a minimum value of €500,000 but in certain circumstances, the required investment may be as low as €280,000.
- Capital Transfer and Investment may consist of the:
- Minimum of €1,000,000 placed into a Portuguese bank account of specifically approved investment options;
- €350,000 invested in scientific and technological research activities via public or private entities;
- €250,000 invested to support the restoration and preservation of national heritage and for artistic endeavors; or
- €350,000 invested in qualifying national investment funds regulated by the Portuguese Securities Market Commission with a pre-set maturation period.
- Business Investment comprising:
- Investing €350,000 to increase the share capital of a company registered in Portugal and creating and maintaining five (5) permanent jobs for a minimum period of three years; or
- Creating 10 new jobs.
Some Benefits of the Golden Visa
There are many benefits of obtaining a Golden Visa, some of which include:
Access to Amenities and Services:-
In addition to being able to live, work, and study in Portugal, you are also eligible for comprehensive access to all public services including healthcare and education. The country has numerous private British and American curriculum-based schools.
Visit Countries Without Applying for Visa
With the Golden Visa, you and your family will be able to move freely to any Schengen country without applying for a visa.
Eligibility to Apply for Citizenship
After completing the 5-year Golden Visa holding period, you can apply for citizenship of Portugal once you meet the requirements which include:
- That you do not have a criminal record in Portugal;
- You have passed the basic Portuguese language test; and
- You do not owe any taxes in Portugal.
If you relocate to Portugal, you also benefit from a favorable tax regime. This creates an excellent environment for doing business in the country.
Ability to Apply for Family
As the main applicant, you have the opportunity to extend your Visa to your immediate family members as well. This includes your partner, children under 18 years, and dependent children under the age of 26 who are full-time students and unmarried. You may also include your parents who are over 65 years old.
If you would like to discuss the Portugal Golden Visa for yourself and your loved ones, please contact us today for a Complimentary Consultation. One of our immigration specialists would be pleased to answer your questions and provide you with the best solution for your particular needs.
Citizenship and Corporate Services (CCS) is a reputable immigration company with over 35 years of immigration experience. Our team comprises lawyers and immigration experts who stand ready to be of service to you and your family. Call us today to get started.
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