How to Apply for Portuguese Golden Visa

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Portugal’s Golden Visa program is designed by the Portuguese government to attract non-EU investors to help boost the country’s economy. The Portugal Golden Visa, also known as the Residence Permit Programme, requires its holder to invest in Portugal and maintain the investment for a minimum of 5 years.

Within these 5 years of maintaining your investment in Portugal, you must spend only 7 days in the first year of your residence and then 14 days thereafter within the 2-year validity period of your residence card. After maintaining an investment for 5 years, you can qualify for Portuguese citizenship or permanent residence, provided you have met all the requirements.

Portugal is undoubtedly a famous country that has been attracting many expatriates from all over the world. The beautiful scenery, cuisine, welcoming culture of the natives and most importantly the affordable standard of living remains one of a kind. These and many other benefits of living in Portugal continue to encourage foreign citizens to enter the country for a variety of reasons.

The Portugal Golden Visa allows its holder visa-free movement to many member states of the European Union and the holder can also enter more than 180 countries around the world. With this visa, you will be ready to enjoy free healthcare services, social security, the right to vote and be voted for, etc.

Investment route for Portugal Golden Visa

The Portuguese government has recently closed certain avenues of obtaining the Portugal Golden Visa, such as purchasing real estate or related funds, and capital transfers of approximately €1,500,000 or more. This change came into effect on October 7, 2023 as a means to curb the growing housing crisis, that is, to reduce or completely prevent the cause of increased rents and property prices in the country.

It is interesting to know that there are still several investment options to obtain the Portugal Golden Visa that are still active. they include:

charitable donation

If you want to donate to an organization in Portugal, the amount you can invest largely depends on the organization’s sector. You may need to donate up to €500,000 to tech ventures, or scientific research. But if you want to donate to the arts or national heritage, you only need to give €250,000, which is the minimum limit.

investment funds

You can easily get Portugal Golden Visa by investing in funds. With years of proven performance, investing in the fund offers a quick and simple route to obtaining a Golden Visa. Some Portuguese funds allow you to buy shares with a minimum 5-year maturity at the time of investment.

To be eligible for the Golden Visa program a fund must dedicate at least 60% of its assets to Portuguese-based commercial firms. The funds also provide a tax-efficient way to obtain your Golden Visa; If you do not have Portuguese tax resident status you will not pay tax on profits or capital gains. The minimum investment fund limit is €500,000.

art and culture

If you are looking for more affordable entry to Portugal through the Golden Visa program, the Arts and Culture Investment option may be suitable for you. This investment option offers you the opportunity to finance a Portuguese-approved cultural project, such as financing the country’s feature film. The minimum limit for investment funds is €250,000, but it can be €200,000 if your cultural endeavor is located in a low-density area.

job creation

If you want to take the job creation route to get your Portugal Golden Visa, you will have to choose between two main investment options. First, you are required to own a business in Portugal and create 10 new full-time jobs from the business. You don’t need any specific investment amount if you take this route.

Second, you can invest at least €500,000 (minimum threshold) in a Portugal-based business, and the business must create at least 5 new full-time jobs over 3 years.

scientific research

To obtain the Portugal Golden Visa, you can also support scientific or technological research that is conducted by an accredited national institution in Portugal. The minimum investment limit for the Scientific Research option is €500,000.

Eligibility Criteria for Portugal Golden Visa

Non-EU citizens must meet certain eligibility requirements to obtain a Portugal Golden Visa. Following are the eligibility criteria for Portugal Golden Visa:

  • Be 18 years or older.
  • Be a non-EU citizen.
  • invest in portugal
  • No criminal record.
  • Manage investments for 5 years.
  • Spend at least 7 days in Portugal.
  • Become the owner of investment capital.

Portugal Golden Visa Application Process

To apply for a Portugal Golden Visa, you need to follow a step-by-step guide. Contains:

Step 1. Choose investment option

You should first double-check the investment opportunity that best suits your needs and financial capacity. You may need legal assistance at this point to apply properly as the whole process can be difficult.

Step 2. Gather all documents

You have to provide all the required documents for verification. Make sure you provide all supporting documents in your application, including your dependents (if you have any). Also make sure that your documents are in Portuguese or English, if not, they should be translated by an authorized translator.

Step 3. Get NIF Number and Bank Account

You are required to obtain a NIF which you will use to open a Portuguese bank account so that you can make your investments in Portugal. You can get a NIF number in just a few hours and even open a Portuguese bank account on the same day.

Step 4. Complete your investment

You can now invest through your Portuguese bank account after choosing the investment option that best suits your financial needs.

Step 5. File your pre-application

Once you have received your investment and your investment documents, you will need to apply for a pre-application on the SEF’s website to receive an appointment date. You should get your appointment date in 2 months.

Step 6. Attend Appointment at SEF

You and your dependents (if any) must attend the appointment on time and have your biometric information (fingerprints and photo) taken to make your application official.

Step 7. Get your Golden Visa

Your Golden Visa Residence Card should be issued to you 4 months after attending the SEF appointment.

Step 8. Become a Portuguese Citizen

After renewing your Portugal Golden Visa twice and living in Portugal for 5 years, you may be eligible to apply for Portuguese permanent residence or citizenship status after 6 years.

conclusion

The Portugal Golden Visa offers an easy path to Portuguese residency and eventual citizenship. Although some changes have been made to the program, there are still other attractive options available for non-EU citizens to take advantage of.

It is best to take expert guidance in the process of choosing the right investment based on your situation and financial capacity. Also, to make things easier for you, your investment under the Golden Visa does not have to be made by you personally; You can entrust a legal entity to do this on your behalf.

To avoid rejection of your application, and to keep in mind the constant changes in investment options and application requirements, it is ideal to seek the help of an immigration lawyer such as Immigration Advice Service.