WHAT IS THE PORTUGAL GOLDEN VISA?
The Portugal Golden Visa is a residence by investment program. It enables non-EU investors who make a qualifying investment to live in Portugal.
Advantages of the Portugal golden visa
- Dependents included:
- Spouse or common-law partner
- Dependent children; and
- Member of the Schengen Area and the EU
- Right to live, work and study in Portugal
- Pathways to obtaining Permanent Residency and Citizenship in Portugal after 5 years
- High standard of education and healthcare system
- Visa-free travel within the Schengen Area
- Short physical residency requirement
- No language, education or management requirements
- Invest a minimum of EUR 350,000 into a Portuguese Investment Fund or Venture Capital Fund
- Maturity of at least 5 years
- Minimum 60% of the investments realized in commercial companies headquartered in Portugal
- Purchase a property with a minimum value of EUR 350,000
- The property must be at least 30 years old or located in urban regeneration areas; and
- With a commitment to be refurbished
- Purchase a property with a minimum value of EUR 500,000
- Be over 18 years of age and a Non-EU/EEA Citizen
- Make a qualifying investment in Portugal using funds from abroad
- Hold the investment for a minimum of 5 years
- Have no debt to Portuguese authorities
- Have a clean criminal record
- Have private health insurance
- Not have entered or stayed illegally in Portugal
- Obtain a tax identification number and open a bank account in Portugal
- Must meet residency requirements in Portugal of:
- 7 days during the first year, and
- 14 days in each subsequent two-year period
- Obtain a tax identification number in Portugal
- Open bank account in Portugal
- Complete the qualifying investment
- Meet all application documentation requirements
- Submit application to the Portuguese Border & Immigration Service (SEF)
- Upon approval, the applicant must visit Portugal for biometric submission before the residence permit issuance
- The residence permit is provided for a length of 1 year; this must be renewed for 2-year permits thereafter
Does the applicant’s family also benefit from the Portugal golden visa?
Yes, the following relatives may be included in the application:
- Spouse, or life partner, with a registered partnership under the law, either in the national territory or abroad;
- Minor children and dependent children under the custody of the couple or of the applicant, including legally adopted children;
- Children over 18, who are dependent on both or one parents, provided they are single and studying in a recognized teaching establishment (no need to be in Portugal);
- Parents of the applicant or of the spouse, that are over 66, or under 66 provided they are economically dependent;
- Minor siblings under the custody of the main applicant or spouse.
All dependents should maintain the initial application requirement to renew the Golden Visa, apply for Permanent Residency or Citizenship.
How long is the golden visa valid for?
The initial visa issued as part of the Golden Visa is valid for 1 year, followed by a 2-year residence permit which may be renewed every two years as long as the investment and the other requirements are maintained.
Is there a language requirement to apply for the golden visa?
No, The language requirement will only apply to the Permanent Residency or Citizenship application.
Are there any residency requirements?
The applicant must stay for seven days in the first year and stay for fourteen days during every subsequent two-year period.
What are the investment requirements?
There are several investment options available to the investor, including the investment of at least EUR 350,000 into a Portuguese Investment Fund to be held for 5 years.
What are the requirements to renew the golden visa?
In order to renew the Golden Visa, the investor must continue to fulfil the initial conditions when the visa was issued, including maintaining the qualifying investment.
Can golden visa holders work in Porugal?
Yes, work is authorized for golden visa holders
With the golden visa, which countries can the client go without a visa?
The visa holder can travel into the Schengen area up to 90 days in any 180-day period.
Do the applicants need to visit Portugal?
Yes, all applicants need to visit Portugal upon approval in order to provide biometrics. All applicants are further required to visit Portugal a minimum of 7 days during the first year, then 14 days in each subsequent two-year period.
How long does the investor need to keep the investment in Portugal
For a minimum of 5 years, or as long as the investor wants to keep the residence permit or until he/she obtains the Permanent Residency or Citizenship.
Can the investor make other investments in Portugal in addition to the qualifying investment?
Yes, the investor is totally free to make additional investments or other acquisitions.
Can golden visa holders apply for permanent residence
Applications for a permanent residence permit must be submitted to Portugal’s border agency (known as SEF), and under the Foreigners’ Law, permanent residency shall be granted to someone who cumulatively:
- Has held a temporary residence permit (including a Golden Visa) for at least 5 years and has met the minimum residency requirements;
- During the last five years has not been convicted of a crime punishable by a prison sentence of more than one year;
- Has sufficient means to support themselves and his/her dependents;
- Has a place of abode in Portugal;
- Has proof of having knowledge of “basic Portuguese”.
Can golden visa holders apply for citizenship?
Portuguese citizenship may be acquired by someone who applies for naturalization and cumulatively:
- Has been a legal resident of Portugal for at least five years (amended by law 2/2018) by meeting the minimum stay requirements of seven days in the first years and at least fourteen days in each subsequent two-year period;
- Has sufficient knowledge of the Portuguese language;
- Has not been convicted of a crime punishable by a prison sentence of more than three years under Portuguese law
Does Portugal allow dual Citizenship
Yes, Portugal allows dual citizenship for golden visa holders, who wish to apply for the Portugal citizenship
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The present document is intended for guidance and general information only and does not constitute or purport to provide you with legal advice. Such information is subject to changes without notice. Each case is unique and depends on the facts and circumstances of the individual and due consideration should be taken if applying the general information to your personal situation. For an evaluation of your personal circumstances one of our legal team would be happy to assist.