Are you considering relocating to Portugal and obtaining residency through the Golden Visa program? This comprehensive guide will walk you through all the essential information you need to know about Portugal’s Golden Visa requirements. We’ve covered everything from investment options to eligibility criteria, and the application process. So let’s dive in!
What is the Portugal Golden Visa?
The Portugal Golden Visa program, officially known as the Residence Permit for Investment Activity (ARI), was launched in October 2012. Its primary objective was to attract international capital into the country and stimulate economic growth. Over the years, the program has gained immense popularity, with more than 12,000 applicants successfully obtaining their Golden Visas.
Benefits of the Portugal Golden Visa
Visa-Free Travel
One of the significant advantages of the Portugal Golden Visa is the opportunity for visa-free travel within the Schengen Area. As a Golden Visa holder, you can freely explore and visit the 26 European countries in the Schengen Agreement.
Living, Working, and Studying in Portugal
The Portugal Golden Visa allows you and your family members to live, work, and study in Portugal. While there is no requirement to relocate permanently, spending a minimum of seven days in Portugal per year is necessary to maintain your residency status.
Portugal offers a high quality of life, excellent healthcare and education systems, and a safe and secure environment. Whether you want to start a business, pursue higher education, or enjoy the country’s beautiful landscapes, Portugal has much to offer.
Path to Citizenship and Passport
You can apply for Portuguese citizenship after holding a Golden Visa for five years. This means you can obtain a Portuguese passport and enjoy the benefits of being an EU citizen. A Portuguese passport provides visa-free access to 188 countries worldwide, opening up travel opportunities for you and your family.
Tax Benefits
Portugal offers attractive tax benefits to Golden Visa holders. Unless you spend more than 183 days per year in Portugal, you won’t have any tax obligations. The country’s non-habitual residency program provides exemptions from income tax for the first ten years of residence, making it an appealing option for those seeking favourable tax conditions.
Eligibility – Portugal Golden Visa Requirements
Nationalities
The Portugal Golden Visa program is open to non-EU/EEA/Swiss nationals. Regardless of your country of origin, you can apply for the Golden Visa and enjoy the benefits of living and working in Portugal.
Age and Clean Criminal Record
To be eligible for the Golden Visa, you must be 18 and have a clean criminal record. This requirement applies to both your home country and Portugal. Additionally, the funds for your investment must come from outside Portugal.
Investment Options
To qualify for the Portugal Golden Visa, you must make a qualifying investment. Here are the investment options available:
- Fund Subscription: Invest a minimum of €500,000 in a qualifying Portuguese fund. Please note that real estate-related funds are no longer eligible
- Company: Create a minimum of 10 new full-time jobs in a Portuguese business you own as the primary applicant. Alternatively, create eight new full-time jobs in a business located in a low-density area in Portugal. You can also invest a minimum of €500,000 in an existing Portuguese business that creates at least five new full-time jobs for three years.
- Donation: Invest a minimum of €250,000 in preserving national heritage or €500,000 in Portugal’s research and development activity.
- Real Estate Acquisition: As of October 2023, real estate acquisitions no longer qualify for the Golden Visa program.
Please note that it is essential to consult with a qualified advisor to understand each investment option’s specific requirements and implications.
Family Reunification
As the principal applicant, you have the option to extend the Golden Visa to your family members. Your spouse, children under 18, dependent children under 26 (if they are full-time students and unmarried), and parents over 65 are eligible for family reunification under the Golden Visa program.
Application Process
Now that you understand the eligibility criteria and investment options let’s walk through the application process for the Portugal Golden Visa:
- Step One: Consult with a Golden Visa Specialist – It is highly recommended that you seek guidance from a qualified Golden Visa specialist who can assist you throughout the process.
- Step Two: Gather Necessary Documents – Collect all the required documents, such as identification, proof of funds, criminal record certificates, and investment-related documents.
- Step Three: Obtain a Portuguese Tax Number (NIF) and Open a Bank Account – To proceed with your investment, you must obtain a Portuguese Tax Number and open a bank account in Portugal.
- Step Four: Finalize the Investment – Complete the necessary steps to finalize your chosen investment option.
- Step Five: Submit the Pre-Application – Prepare and submit your pre-application to the Portuguese authorities (AIMA).
- Step Six: Schedule and Attend AIMA Appointment – Once your pre-application is approved, schedule an appointment with AIMA and attend it in person.
- Step Seven: Obtain the Golden Visa and Renew – If your application is successful, you will receive your Golden Visa. Remember to renew your visa at regular intervals to maintain your residency status.
- Step Eight: Portuguese Citizenship – After holding a Golden Visa for five years, you can apply for Portuguese citizenship if you meet the requirements.
Timeline and Fees
Timeline
Having meth Portugal Golden Visa requirements it is important to understand that the residence process spans several years. Here’s a general timeline:
- Year One and Two: Initial residence permit valid for two years.
- Year Three and Four: Renewal of residence permit for two years.
- Year Five: Become eligible for Portuguese citizenship.
It’s important to note that the timeline may vary depending on individual circumstances and any updates to the program.
Fees and Costs
The Portugal Golden Visa program involves various fees and costs. These include government fees, legal fees, and investment-related expenses. Understanding the program’s financial implications before proceeding with your application is crucial.
Conclusion
Obtaining residency through the Portugal Golden Visa program can be a life-changing opportunity. With visa-free travel, the ability to live, work, and study in Portugal, and the potential for Portuguese citizenship, the program offers numerous benefits. However, it’s essential to carefully consider the eligibility requirements, investment options, and application process.
Consulting with a specialist on Portugal Golden Visa requirements and seeking professional advice can significantly simplify the process and ensure a smooth application. With proper planning and guidance, you can navigate the Portugal Golden Visa requirements and embark on your journey to a new life in Portugal.
Disclaimer: The information provided in this article is for informational purposes only and should not be considered legal or tax advice. Please consult a qualified professional for specific guidance tailored to your circumstances.
Miguel Pinto-Correia holds a Master Degree in International Economics and European Studies from ISEG – Lisbon School of Economics & Management and a Bachelor Degree in Economics from Nova School of Business and Economics. He is a permanent member of the Order of the Economists (Ordem dos Economistas)… Read more
