PORTUGAL Start up Visa Portugal golden visa Portugal Residence Permit Permanent Residency residence-by-investment

WHAT IS THE PORTUGAL GOLDEN VISA?

The Portugal Golden Visa is a residence-by-investment program that enables non-EU investors the rights to reside, work and study in Portugal in exchange of an investment of at least EUR 280,000. This Portuguese program allows for successful applicants to qualify for either permanent residency or citizenship after 5 years.

Advantages of the Portugal golden visa

  • Dependents included:
    1. Spouse or common law partner
    2. Dependent children; and
    3. Parents
  • 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

Investment Options

  • Invest a minimum of EUR 500,000 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 or EUR 280,000*
    • The property must be at least 30 years old or located in urban regeneration areas
    • With a commitment to be refurbished or renovated
    • Residential property is limited to designated interior areas
  • Purchase a property with a minimum value of EUR 500,000 or EUR 400,000 *
    • Residential property is limited to designated interior areas

* Located in a low density territory

Requirements

  • 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 an average of seven days a year

Process

  • 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 valid for a period 2 years, renewable every 2 years subject to conditions

FAQ

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.

Does the applicant's family also benefit from the Portugal golden visa?

Yes, the following relatives may be included in the application:

  1. Spouse, including a de factor partner;
  2. Minor or incapable children into the care of one of the spouses, including legally adopted children;
  3. Children aged 18 and over, who are financially dependent of one of the spouses, provided they are unmarried and studying in a recognized teaching establishment;
  4. Parents of the main applicant or of the spouse aged 65 and above, or under 65 provided they are financially dependent of one of the spouses;
  5. Minor siblings under the custody of one of the spouses.

All dependents should maintain the initial application requirements to renew their residence permits under the Golden Visa, apply for Permanent Residency and/or Citizenship.

How long is the golden visa valid for?

A successful applicant is granted a temporary residence permit in Portugal for an initial period of two years, which is then renewable for subsequent two-year periods as long as the investment and the other initial 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?

Yes, the applicant must stay in Portugal a minimum average of seven days per year (or 14 days for each two-year period).

What are the investment requirements?

There are several investment options available, including the investment into a Portuguese investment fund for at least EUR 500,000 or the acquisition of real estate for at least EUR 350,000 (or 280,000 in low-density area).

What are the requirements to renew the golden visa?

In order to renew the Golden Visa, the investor and dependents must continue to fulfil the initial conditions when the visa was issued, including maintaining the qualifying investment.

Can golden visa holders work in Portugal?

Yes.

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 pre-approval in order to provide biometrics. All applicants are further required to visit Portugal a minimum average of seven days per year (or 14 days for each 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 Portuguese 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:

  1. Has held a temporary residence permit (including a Golden Visa) for at least 5 years and has met the minimum residency requirements;
  2. During the last five years has not been convicted of a crime punishable by a prison sentence of more than one year;
  3. Has sufficient means to support themselves and his/her dependents;
  4. Has a place of abode in Portugal;
  5. Has proof of having knowledge of “basic Portuguese” language.
CAN GOLDEN VISA HOLDERS APPLY FOR CITIZENSHIP?

Portuguese citizenship may be acquired by someone who applies for naturalization and cumulatively:

  1. Has been a legal resident of Portugal for at least five years (amended by law 2/2018) by meeting the minimum stay requirements of a minimum average of seven days per year (or 14 days for each two-year period);
  2. Has sufficient knowledge of the Portuguese language;
  3. 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.

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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.