WHAT IS THE GOLDEN VISA PROGRAM?

The GOLDEN VISA is a program that attributes permanent residence or Portuguese citizenship to anyone who is willing to invest in the country – extendable to family members.

By applying for a Golden Visa you get a residency permit that allows you to travel freely inside the European Union, since Portugal is a EU member.

Besides that, after 5 years you can apply for permanent residency or even Portuguese citizenship.

WHAT ARE THE BENEFITS OF THE GOLDEN VISA?7

  • You don’t have to move to Portugal to keep your residence permit. You just have to stay in Portugal 7 days per year
  • It’s one of the lowest investment thresholds in Europe to acquire a Visa
  • You can apply for citizenship in 5 years
  • You can freely travel with no additional Visa in the EU member counties
  • Once you get a Portuguese citizenship you get Visa-free access to 188 countries!
  • You can live, study and work in Portugal

WHO CAN APPLY FOR A GOLDEN VISA

Anyone who is not a EU member country citizen can apply for a Golden Visa if:

  • You have no criminal record in Portugal or your home country
  • You are over 18 years old
  • You make a minimum investment in the country. It can be real estate, donation, venture capital, company formation, capital transfer.
  • The funds you use to invest come from outside the country

What family members can I extend the Golden Visa to?

  • Spouses and partners
  • Children who are under 18 ; students under 25 ; dependent children
  • Parents of one of the spouses/partners if over 65 years of age

INVESTMENT OPTIONS TO GET A GOLDEN VISA

If you’re planning on applying for a Golden Visa and are not sure about the best way to proceed then you need to weigh your options in terms of investing in Portugal. There are several investment options depending on your interest and possibility:

REAL ESTATE

  • Invest at least €500.000 in a property located on a high density area ;or €350.000 if that property is for rehabilitation ( must be at least 30 years old and situated inside an Urban Rehabilitation Area)
  • Invest at least €400.000 in property located on a low density areas; or €280.000 if that property is for rehabilitation

As of 2022 you can no longer apply to the Golden Visa program by acquiring property in high density areas such as Lisbon, Porto and many locations along the coast.

Please contact us here to know more about where you can still invest and apply for a Golden Visa in Portugal.

CAPITAL TRANSFER

  • Transfer €1.500.000 to your bank account in Portugal

INVESTMENT FUND SUBSCRIPTION

  • Subscribe to a Portuguese Investment Fund – minimum investment is €500.000

COMPANY INVESTMENT

  • Create a company with at least 10 full time jobs; or 8 full time jobs if the company operates in a low density area
  • Invest at least €500.000 in a company that creates or maintains a minimum of 5 full time jobs for at least 3 years

DONATION

  • Donate a minimum of €250.000 towards preserving Portugal’s national heritage
  • Donate a minimum of €500.000 for Research & Development (R&D) activity in Portugal

DO I HAVE TO LIVE IN PORTUGAL?

No, that is one of the reasons the Golden Visa program is so flexible.

Your initial Visa permit last 2 years and the minimum stay in Portugal is just 14 days in those 2 years.

After you renew the first 2 years, your Visa is valid for another 3 years (which you can renew ad eternum or apply for citizenship after the first 5 years are completed) and for every 3 years you just need to spend 21 days in Portugal.

DOCUMENTS AND PAPERWORK

So what kind of documents do you need to start your Golden Visa application?

  • Passport or government issued travel document
  • Proof of evidence of your investment
  • Declaration from financial institution confirming the transfer of the funds
  • Proof of health coverage (either in Portugal from the national health system or from an insurance company with international coverage)
  • criminal record from the country of residence (issued a maximum 3 months before)
  • a form authorizing the SEF (Serviço Estrangeiros e Fronteiras) to access criminal record in Portugal
  • a sworn declaration with compliance of the minimum investment requirements for the 5 year period
  • documents stating there are no debts with Social Security and the Tax Authorities (issued a maximum of 45 days before form submission)
  • Receipt of ARI application payment

Note: All documents need to be translated into Portuguese and certified by a notary

HOW MUCH DOES IT COST TO GET A GOLDEN VISA?

There will be a few costs when applying for a Golden Visa besides the investment itself:

  • €533 Processing fee + €83 per dependent → Once when you first apply and then at each renewal
  • €5325 per person → One time application fee at the beginning
  • €2663 per person → Renewal Application Fee
  • Anything from €5000 to €15000 for Legal Fees ( depending on the Lawyer or Law firm you choose and your specific legal needs)

BANK ACCOUNT AND NIF

When applying for a Golden Visa you are required to make your investment using a Portuguese Bank Account.

The first thing you will need to do is get a NIF (Número de Identificação Fiscal – Fiscal Identification Number) and deliver the following documentation in your chosen bank:

  • Proof Of Identification – Passport is enough
  • Proof of Address
  • Proof of Income/Employment
  • Portuguese Phone Number
  • Portuguese NIF
  • A Cash deposit ( varies by bank can range from €50 to €300)

GETTING YOUR NIF

There are several options:

  • Apply for a NIF by going directly to a local Finanças department (not the best option since non-EU citizens need to bring a tax representative with them and qeues can go on for hours)
  • Pay a company to get you a NIF (you can do this online by giving power of attorney to a company or professional, can take about a week and average price is €200)
  • Ask someone to be your tax representative and handle that for you ( also possible online and should be done with someone you trust. Fee is around €10 for non EU citizens)
  • Apply for a NIF by e-mail (only for EU citizens)

TIMELINE OF THE GOLDEN VISA APPLICATION

The first order of business is to submit all relevant and necessary paperwork and documentation to the SEF online.

After they receive your file, you will be contacted in order to schedule and in person interview.

Expect to receive your Golden Visa residence permit in about 4 months after applying

First 2 Years

After you receive your 2-year residence permit you have to spend a total of 14 days in Portugal in those first 2 years, around 7 days per year.

If you wish to renew your residence permit for another 3 years apply for that at the SEF about 3 months in advance.

3 Years Renewal

After renewing your permit for 3 years you need to spend a total of 21 days in Portugal throughput that time. At the end of those 3 years you have 3 options:

  • Apply for citizenship in Portugal
  • Apply for permanent residency in Portugal
  • Continue renewing your Golden Visa program

WE CAN HELP YOU INVEST AND APPLY FOR THE GOLDEN VISA

Our team is fully available to discuss your goals and assist you with your Golden Visa process. From deciding on the best investment path to making sure you have legal support and representation every step of the way!

Please contact us here to know more about where you can still invest and apply for a Golden Visa in Portugal.

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