Portugal is an EU country. The Portugal Golden Residence Permit Program is also known as the Portugal golden visa. It offers a fast-track process for permanent residency in Portugal. Investors can benefit from a wide range of advantages by investing in Portugal. These include access to Portuguese healthcare and education, the ability to live and work in an EU country, and visa-free travel to Europe. You are required to stay for just seven days a year in Portugal over a five-year period.
Portugal’s golden visa investment options
To be eligible for a Golden Visa in Portugal, investors must make one of the following investments:
Purchase a property
Investors can purchase a property worth at least €500,000 (€400,000 in a low-density area) to qualify for a Golden Visa. Most investors seeking Portuguese real estate are interested in this option.
Property investment in urban regeneration areas
Investors can invest €350,000 in a property in a Portuguese urban regeneration area (€280,000 in a low-density area) to qualify for a Golden Visa. This investment option has been created to boost the economy of these areas.
Investment fund
Applicants can invest at least €500,000 in a qualifying investment fund to qualify for a Golden Visa. This option provides investors with a chance to invest in Portuguese businesses and supports the country’s economy.
Capital transfer
Interested investors can transfer at least €1 million to a Portuguese bank account or €350,000 for research activities in science or technology. In addition, they can transfer €250,000 to support the arts or national heritage reconstruction.
The company shares
Investors can purchase company shares worth at least €1 million to qualify for a Golden Visa.
Company investment
You would need to invest at least €1 million in a Portuguese company to qualify for a Golden Visa. This option allows investors to create employment opportunities and support the Portuguese economy.
Job creation
Investors can create at least ten jobs for Portuguese nationals, or invest at least €350,000 in the creation of a commercial company through which they create at least five full-time jobs, to be eligible for a Golden Visa.
Investment options have benefits, risks, and associated fees or taxes. Investors should carefully consider each option and seek expert advice before deciding.
Eligibility requirements
To be eligible for a Golden Visa for Portugal, investors must fulfil the following requirements:
- Be a non-EU citizen
- Be over 18
- Make a significant investment that benefits the Portuguese economy
- Have no criminal records
- Own the money they seek to invest
- Commit to maintaining the investment for at least another five years
Obtaining a Portugal citizenship after the golden visa
If an investor receives a golden visa, they become eligible for citizenship after five years. Unlike other European countries, investors do not need to live in Portugal during that period to acquire citizenship via the golden visa route.
Benefits of Portugal golden residence permit program
Investors and their families can enjoy a plethora of advantages through the Portugal golden visa program:
- The right to live and work in an EU country
- Access to Portuguese healthcare and education
- Lower living costs in Western Europe
- Visa-free Europe travel
- Portuguese passport for five years
- Lenient Residency Requirements
- Family Members are eligible for a Portugal golden visa
- Investors can include the following family members in their Portuguese Golden Visa application:
- Spouse or partner
- Children under 18
- Children over 18 who depend on their parents financially
- Siblings under 18
- Dependent parents over 55
Application process and timeline
The Portugal golden visa program is a popular investment option for those seeking residency in Portugal. The program offers a range of benefits, including:
- Right to live and work in Portugal
- Access to European Union financial capitals
- The potential for a high return on investment
Gathering the necessary documents
Before applying for the Portugal golden visa program, investors must gather several relevant documents. These include a valid passport, proof of health insurance, proof of investment, and proof of funds, a criminal record certificate, and a Portuguese tax number (NIF).
Note: The documents must be submitted in Portuguese, accompanied by a certified translation.
Submitting the application
Once all the necessary documents have been gathered, you can submit your application to the Portuguese authorities. You can submit directly or through a legal representative.
All documents must be complete and accurate, as incomplete applications may be rejected.
Timeline and processing
The Portugal golden visa program typically takes three to six months to process. During this time, the Portuguese authorities will review the application and conduct any necessary background checks.
Once approved, investors will receive a one-year residence permit. Permits can be renewed annually for five years, after which investors can apply for permanent residency.
Renewal and permanent residency
Investors must renew their residence permit each year for five years to maintain eligibility for permanent residency. The renewal process is typically straightforward and involves submitting updated documents and paying a renewal fee.
After five years of residency, investors can apply for permanent residency or citizenship.
Update: Portugal golden visa closure
The Portugal golden visa scheme has been a popular choice for investors looking to gain permanent residency and citizenship in an EU country. A proposal is currently under consultation with the Portuguese government regarding discontinuing the program. Until legislation is passed, the current Golden Visa regulations remain valid. Investors can still apply for the program and benefit from its benefits.