Golden Visa in Portugal

Here, Casas do Barlavento has the ultimate guide to obtaining residency by investment. A step-by-step guide to applying for a European Residency Permit, while explaining all the advantages and benefits associated with the Golden Visa scheme.

What is the Golden Visa in Portugal?

The Golden Visa Program, launched in 2012, is a fast-track Portuguese residency, i.e., for non-European citizens to obtain a European Residency Permit, in Portugal, through investment.

Aiming to attract foreign investment into Portugal, the Golden Visa is a flexible program which intends to put Portugal on the map in a very straightforward way with minimum stay requirements.  

What are the general requirements for obtaining the Golden Visa?

To qualify for the Golden Visa Program all investors must comply with the following requirements:

·         Maintain the initial investment for a minimum period of 5 years

·         The funds used for the investment should come from abroad

·         Absence of convictions of relevant crimes

·         Minimum stay of 7 days in Portugal during the first year; and no less than 14 days during each subsequent period of two years

·         Anyone except Portuguese and EU/EFTA citizens are eligible to apply for the Golden Visa after the investment in Portugal

Which investment options are available?

There are 3 main investment options to be eligible for the Golden Visa Program in Portugal:

Capital Investment:

·         Transfer funds above 1 million euros to use, for example, to invest in company shares. There is total freedom to invest in investment funds or in venture capital

·         Capital transfer of €350,000 (minimum) to promote research activities.

·         Transfer of capital of a minimum of €250,000 for investment / support to the arts and recovery of cultural heritage.

Creation of a company:

It is necessary to invest a minimum of 350,000 euros to create a commercial company in Portugal with at least 5 permanent jobs or to increase the share capital of a commercial company based in Portugal (company capitalization). When launched, this option was to create a minimum of 10 jobs. Please check article Portugal’s Golden Visa updates, which mentions all changes to the Golden Visa scheme.

Property investment:

·         Buy real estate above €500,000 (reduction of 20% if the investment is made in low density population areas)

·         Buy property above €350,000 to renovate. Invest in properties built more than 30 years ago (for renovation), that are located in an urban rehabilitation area.

Check out some of our properties.

What are the benefits and advantages of the Golden Visa Program in Portugal?

The Golden Visa scheme will provide the following to investors:

·         Entry into Portugal without a special visa

·         Travel freely within Europe (Schengen area)

·         Live and work in Portugal, even with residency in a different country

·         Residency extended to family – you can bring your family with you

·         Apply for permanent residency and/or Portuguese citizenship after 5 years (as long as you maintain the investment)

·         Low tax rates

·         Access to the Portuguese healthcare and education systems (as if you were Portuguese citizen)

What is the necessary documentation to apply for the Golden Visa?

The investor needs to submit the following documentation to apply for the Golden Visa:

·         A valid passport or other valid form of identification

·         Proof that you are legally in Portugal (entry stamps on your visa, for example)

·         Portuguese Fiscal Number

·         Health insurance valid in Portugal which has cover for the length of your residency in Portugal

·       Criminal Records of country of origin and/or residency – The criminal records must be issued within 3 months of the online application, and need to be certified and translated into Portuguese

·         Request for Portuguese Criminal Record inquiry by SEF (Portuguese Immigration and Border Control Office)

·         Up-to-date Contributions (Tax and Social Security) – declaration providing the absence of debts in these department authorities – can be issued 45 days prior to the online application

·         Receipt of payment of the initial application fee - A statement declaring the compliance of all investment requirements (amount and 5-year period)

·         Proof of Investment

How much does it cost to obtain a Golden Visa in Portugal?

Apart from the investment, you are requested to pay a €527.60 processing fee when submitting the application (plus €82.30 for each family member), followed by €5,274.40 per person for the Golden Visa insurance.

At the end of year 1 and year 3 you need to renew your visa for the amount of €2,637.20 per person, as well as a €527.60 processing fee of each renewal (plus €82.30 for each family member).

To avoid making a bad investment, or one that ends up not qualifying the investor for the Golden Visa, we advise you to work with a lawyer. If you are applying for the Golden Visa through property investment know that Casas do Barlavento can also help you through the whole process.