Golden Visa Portugal?... A detailed guide to the Portuguese Golden Visa program, its Requirements, Costs, and how to apply for the Golden visa program in Portugal.
Golden Visa was established by the government of Portugal to attract foreign investors into the country. The Portugal Golden visa program is a quick route to obtain a permanent residency and citizenship in the country. The main aim of setting up this immigration program is to provide a stable growth to the economy. Investors who have the Portugal golden visa will secure a temporary resident permit for one year. However, if the visa is sustained for five years, holders become eligible to apply for a permanent residency. Similarly, after six years of your residency, you qualify for Portugal citizenship by investment, provided you fulfill other legal requirements.
There are also other benefits for investors who invest a certain amount as determined by the law. Since its inception in 2012, the golden visa program has had over 4,200 Portuguese visas issued to investors, and this is at an estimate of over EUR 2.5 billion worth of investment.
Moreover, citizens of EU/EEA member countries do not need to apply for the Portugal Golden visa, but rather, have to register their investment in the country.
Below, we shall look at the requirements for the golden visa program in Portugal, its benefits for investors and their families, as well as how to apply for a citizenship by investment in Portugal.
Golden Visa: What are the Requirements for a Portugal Golden Visa?
Non-EU foreign investors can apply for the Portugal Golden visa program either as an individual or through a business startup in Portugal or other EU countries once they meet any of the following requirements for the residency by investment in Portugal:
- Capital investment of a minimum of EUR 1M in Portugal
- Establishment of a company that provides at least 10 employment offers to Portuguese residents
- EUR 500,000 worth of investment in Portuguese real estate properties
- The Purchase of a real estate property which is at least 30 years old and valued at a minimum of EUR 350,000 within the urban regeneration locations in Portugal
- Investing a minimum of EUR 350,000 in Scientific research and discoveries
- Arts, heritage and cultural investment in Portugal (valued at a minimum of EUR 250,000)
- Placement of a minimum of EUR 500,000 in small-scale and medium enterprises in Portugal
The investor visa applies to other company shareholders who are residents of Portugal and have met their tax requirements. The Golden visa, however, should be maintained by investors for at least five years from the period of setting up the investment.
Benefits of the Portugal Golden visa?
Golden visa holders in Portugal are liable to the following benefits:
- Work and live in the country once they reside for at least 7 days during their first year and 14 days for the following years.
- Investors are free to travel to other Schengen countries without a visa.
- Families of investors can also obtain their residency.
- Access to healthcare and education facilities.
- Investors have free access to invest in any of the Portuguese government properties.
- Portugal investor visa holders have an exclusive tax benefit; they do not have to pay tax on their income as long as they meet the conditions of the Portuguese tax guide.
How to apply for the Golden visa in Portugal
The golden visa application in Portugal is through the online platform of the Portuguese Immigration and Border Services website. A pre-registration is necessary, and this can be done via their website link.
If you want your pre-registration to be handled by a legal representative, then you can apply through this link whereby the legal officer will have to provide a power of attorney containing the signature of the Portuguese Golden visa applicant.
Applicants can also submit their application personally or through a legal representative to the Regional Directorate or any of the nearest SEF local branches.
Necessary Documents required for a Portugal Golden visa application
While filing your Portugal golden visa application, you need to provide the following documents:
- A valid passport
- Proof of admissibility into Portugal
- Medical clearance certificate issued not longer than three months before the date of your application
- A Police clearance certificate from your country of origin/residence which is not beyond three months
- A receipt of payment for the Portuguese Golden visa application
- Provide proof of tax clearance
- Also, applicants have to prove that they can sustain their investment within a period of five years by providing a bank statement for their investment, documents for the purchase of real estate properties, and employment contracts for employees.
During your visa renewal, you will be requested to provide evidence that you have met the minimum stay requirements during the validity of your permit. Check out the full details of the requirements for each type of visa. The processing time for the application can be up to six months. However, once the application has been processed, the SEF immediately contacts the applicant or their legal representative for an interview.
What is the Cost of Golden visa application in Portugal?
Below is a breakdown of the cost for the golden visa application:
- A processing fee of EUR 514.80 which includes application and renewal where necessary
- EUR 5,147.80 for the initial golden visa for applicants or their family members
- Golden visa renewal costs of EUR 2,573.90
Applicants can pay the application fee directly to the SEF.
Portugal golden visa program for family members of investors
Through the Portugal business immigration, the following family members are permitted to reside with the principal visa holder in Portugal:
- Children/legally adopted children of the spouse who are below the age of 18
- Dependents children of the visa holder who are above 18 but are still students
- Parents of the visa holder and parents of the spouse are eligible
- Siblings who are still under the care if the Portugal golden visa holder
The interesting fact here is that the family members enjoy the same rights as the principal holder, and will also be eligible to apply for citizenship after six years of residency in Portugal. Contact our expert consultants for more information about the Portugal family visa.
Below are useful contacts for your Portugal Golden visa application
We at DM-Consultants is here to assist foreign investors in Dubai UAE with a successful application for their Golden Visa.