How to get a Portugal Golden visa.
From €280,000, Portugal Real Estate Investment
Time to Obtain European Citizenship
5 years
Visa-free entry into
Schengen nations in the EU
Advantages
Numerous Investment Options Are Available
Make a lucrative investment in venture capital funds, real estate, or other assets.
Bring Your Family Along
You may submit an application with your spouse, dependent children, and senior parents all at once.
Only stay in Portugal for seven days
Spend no more than seven days per year in Portugal to keep your Golden Visa valid.
Experience Visa-Free Travel
Use your Golden Visa to visit all EU Schengen nations.
Become a citizen of Europe
Apply for Portuguese citizenship after only five years without relocating to Portugal permanently.
In five years, withdraw your investment.
Release your investment if you become a citizen.
Investing Methods
Investment in real estate
Money market fund
- Investment of €500,000 in any kind of Portuguese real estate
- Investment of €400,000 in any kind of property in a sparsely populated region of Portugal
- Investment of €350,000 in a home older than 30 years with the need to remodel
- Investment of €280,000 in a home older than 30 years in a low-density region with the need to remodel
Real estate acquisition facilitates Portugal Golden Visa application
01 Decide on a Property
02 Comply with the laws
- Purchase the Property
04 Application to be Filled Out
- Travel to Portugal
Obtain Your Golden Visa in 6
2007 Renew
Promissory Sale and Purchase Agreement: Sign it.
Put the public deed into action.
Alternative Investments
1.Capital transfer of €1.5 million
2.ten new full-time positions created
3.€250,000 will be used to preserve national heritage.
4.€500,000 in R&D expenditures
Portugal, why
187 nations provide visa-free travel to Portuguese nationals.
1.Lisbon
To Invest in City
2019 Emerging Real Estate Trends in Europe – PwC
4. Portugal
The safest nation among 163 nations 2021 Global Peace Index
3. Portugal
The ideal nation for remote work
Learn about the Portuguese Golden Visa program and how to apply for residence and citizenship.
Although there are other residence-by-investment programs in Europe, Portugal’s Golden Visa is undoubtedly the most well-known and successful.
The government created the Golden Visa residence by investment program in 2012, during the height of Portugal’s financial crisis.
The program was first started by a conservative administration, but once the current socialist coalition came into office in 2015, the project was expanded.
The Portuguese government launched the Golden Visa program in an effort to draw in a constant stream of funds from overseas investors and purchasers of real estate. The national economy and real estate market, according to the government, would be stimulated by these investments.
The strategy was successful. Portugal has awarded residence to more than 7,500 non-Europeans since enacting the Golden Visa, which has brought in €4.6 billion ($5 billion as of October 4, 2019).
The initiative has contributed to an increase in property prices in Portugal by fostering a consistent flow of investment, primarily into real estate. Portugal’s economy has recovered thanks to record-high investment growth, growing exports, and rising tourist numbers.
As investment surges to record high levels, the government has dubbed the nation’s exceptional economic development as the most sustainable since 1995.
Several European nations, including Austria, Belgium, Bulgaria, Cyprus, Greece, Latvia, Lithuania, Malta, Monaco, Spain, Switzerland, and the United Kingdom, have adopted similar policies as a result of Portugal’s very successful program.
Portugal’s Golden Visa is one of the most well-known across Europe and the rest of the globe because to benefits including freedom of movement, tax breaks, and access to EU residence.
Then what precisely is a Golden Visa, and how does one become eligible for one? This article will help you understand Portugal’s renowned Golden Visa program by providing details on perks, eligibility conditions, the application procedure, and more.
What Is the Golden Visa for Portugal?
Portugal’s Golden Visa program, also known as the Golden Residence Permit Program or Autorizaço de Residência para Atividade de Investimento (ARI), enables eligible family members and non-EU/EEA citizens to obtain permanent residency and other benefits in exchange for making a required five-year investment in Portugal.
Included on the list of qualifying family members are your spouse, dependent parents or in-laws, and children under the age of 18 or who are enrolled in school and dependent on you.
Once you have a Golden Visa, you and each member of your family are granted a temporary residence visa in Portugal for a duration of one year, which may then be extended for an additional two years.
You and your family may apply for permanent residency in Portugal after five years. You will all be qualified to apply for citizenship after you have all been granted permanent status.
Within the Schengen region, which consists of 26 nations in Europe, residents of Portugal are not need to have a passport or visa in order to travel internationally.
Austria, Belgium, Czech Republic, Denmark, Estonia, Finland, France, Germany, Greece, Hungary, Iceland, Italy, Latvia, Liechtenstein, Lithuania, Luxembourg, Malta, Netherlands, Norway, Poland, Portugal, Slovakia, Slovenia, Spain, Sweden, and Switzerland now make up the Schengen region. Cyprus, Bulgaria, Croatia, Romania, and other countries are now applying to join the Schengen area.
You may live and work anywhere in the European Union, as well as in Iceland, Liechtenstein, and Norway, if you are a citizen of Portugal.
Because it only needs investors to stay an average of seven days a year in Portugal, Portugal’s Golden Visa program stands apart.
Additionally, the scheme has not been placed on the Organization for Economic Co-operation and Development’s “blacklist” like many other Golden Visa operations (OECD).
Portugal’s criteria for the Golden Visa
A Golden Visa is available to any non-Swiss, non-EU/EEA, or non-EEA national who makes a certain investment in Portugal. Real estate, businesses, or capital donations are the three types of assets that qualify for a Golden Visa. among the investment views are:
- transferring to Portugal at least €1,000,000 ($1,095,890.00 USD).
- ten or more jobs being created in Portugal.
- acquiring property in Portugal for a minimum of €500,000 ($547,945).
- purchasing property with a value of at least €350,000 ($383,561) in a Portuguese urban redevelopment region that is at least 30 years old.
- investing a minimum of €350,000 ($383,561) in Portuguese science.
- investing a minimum of €250,000 ($273,972) on artistic endeavors or Portugal’s natural cultural heritage.
- investing at least €350,000 ($383,561) in a venture capital fund run by a Portuguese business with a main office there and at least five years of experience.
- five full-time positions will be created during a three-year period with an investment of €350,000 ($383,561).
- investing at least €500,000 ($548,595) in a project that promotes carbon neutrality, renewable energy, eco-tourism, or organic farming.
You must keep up your investment for a minimum of five years after your Golden Visa was formed in order to be eligible to claim residence under the program.
Additionally, you have to visit Portugal for a minimum of seven days during your first year (whether they are consecutive or not). You simply need to stay in Portugal for a minimum of 14 days every two years after the first.
Getting ready to apply
Although obtaining a Portuguese Golden Visa is not difficult, it does need some planning and documentation. You need do the following tasks before starting the application:
Take legal counsel into account.
Working with a Portuguese attorney while making your investment and submitting your Golden Visa application is advised, however it is not necessary.
Portuguese legislation may be difficult to understand, especially if you don’t know the language. It is a good idea to get legal counsel from a lawyer, especially one with expertise in Golden Visa investments, given that you are dealing with a sizeable investment.
Your attorney may provide suggestions, check documents, and ensure that everything is in order legally before you complete throughout the investing process.
Your lawyer may also assist you in obtaining the necessary paperwork for your investment. Even as your legal agent, your lawyer may apply for a Golden Visa on your behalf.
Acquire an NIF.
A tax identification number, or NIF, is necessary in Portugal for a variety of operations, such as establishing a bank account, purchasing real estate, and registering for phone and utility services.
By visiting your local “Finanças” tax office with your passport and proof of address, you may get an NIF. If you are not yet a registered resident, this might serve as documentation of your residence, either inside Portugal or in your place of origin.
The name of a Portuguese lawyer, friend, family member, or accountant who may speak with tax officials on your behalf must be provided if your home address is outside the EU/EEA.
Open a bank account in Portugal.
Open a bank account in Portugal if you don’t already have one. You must have a local bank account to prove that you have transferred the money and made the necessary investment to finish your Golden Visa application.
You will normally be required to supply your NIF in addition to evidence of address, income, and (preferably) your occupation, along with the procedure may vary according on the bank you select and where your nation of residency is.
Typically, in order to start an account, you must deposit €250 ($274) in cash or through a money transfer. We advise looking into Novo Banco, Banco CTT, or CGD. Portugal has a great financial system and numerous respectable organizations.
Put money into it.
Making your investment is a prerequisite for starting your Golden Visa application. If you decide to purchase a home, keep in mind that the process typically takes one to three months to complete in Portugal.
Gather, translate, and certify the necessary paperwork.
You must provide personal documentation and evidence of investment(s) in order to apply for a Golden Visa.
Your legitimate passport or another formal ID
evidence of your authorized admission into Portugal
a background check that has been authorized and given by your country of residency within 90 days of when you submitted your application
a document giving permission for the Serviço de Fronteiras e Estrangeiros (SEF) of Portugal to view your criminal history
Proof of health insurance that was provided within 90 days of filing your application and covers your time spent in Portugal
A statement confirming that you’ve complied with the investing conditions
Within 45 days of filing your application, Portuguese Tax and Customs Authority and Social Security responsibilities compliance documentation will be supplied.
A deed for the acquisition of real estate or a bank statement for a financial investment are examples of evidence of investment and a commitment to preserving it for five years.
Documents must be validated by a Portuguese notary public or consulate in their country of origin and translated into Portuguese. Start this stage as soon as you can since obtaining, interpreting, and certifying papers might take some time.
Open an internet profile.
Creating an account on the SEF website is required for pre-registration before you can start your real application.
You must give some basic information about yourself and the sort of investment you have made in order to establish your online account. Your attorney may register you here if they are submitting the application on your behalf.
the interview and application procedure
When you are prepared to apply, you may log into your online account on the SEF website (or the account of your legal agent if they are submitting an application on your behalf). You may finish your application and submit the required papers to the website using the online portal.
You must pay the processing costs and provide evidence of payment with your application in addition to submitting your fully filled application and any other supporting documentation.
The processing charge is €514.80 ($564.89), plus €80.20 ($88) for each additional family member. These costs must be paid in full to the SEF.
The next step after submitting your first application is to show up for a face-to-face interview at a SEF office.
Be aware that the waiting list for a Golden Visa interview in larger cities like Lisbon or Faro may be several months long; thus, you may want to think about scheduling an appointment in a smaller neighborhood.
An immigration officer will speak with you during your interview. Anyone applying from their family should be present. The official will also take fingerprints from you and your family in addition to conducting an interview with you.
It should take between three and six months to complete your application once you submit it and finish the interview.
Recognition and rejuvenation
Once your application for a Golden Visa has been accepted, you must pay a cost of €5,147.80 ($5,648.60) for both you and each member of your family.
You will each be given a temporary residency card after paying the cost, which is good for a year. You must stay in Portugal for a minimum of seven days during the first year.
You must renew your resident card at the end of the first and third years. Around a month before the card expires, you should begin the renewal procedures.
You and your family members must resubmit your biometrics and provide the most recent versions of your criminal histories. Your residence renewal will cost you €2,573.90 ($2,824.30) per person.
You must stay in Portugal for a minimum of 14 days every two years throughout years two through five.
You may submit an application for permanent residence after five years if you have kept up your investment and adhered to the residency criteria.
requesting citizenship
Enjoying the canals in Aveiro, Portugal are tourists
You may apply for Portuguese citizenship and a passport after you have obtained permanent status. Due to a recent change in the Portuguese Nationality Law, you may now seek for citizenship after five rather than six years of lawful residency.
You must succeed on a language exam that verifies your proficiency in Portuguese in order to achieve it.
You may apply for a Portuguese passport after being granted citizenship in Portugal. A five-year passport is available for the price of €65 ($71).
Portugal’s passport was ranked as one of the strongest in the world, enabling visa-free or visa-on-arrival travel to 185 nations worldwide.
special factors to take into account when American applicants for Golden Visas
Portugal’s Porto has a well-known vintage tourist tram.
For nationals of the EU and EEA, applying for a Golden Visa to Portugal is a rather simple procedure. However, there are a few unique factors to take into account if you are a citizen of the United States and applying for a Golden Visa:
Apply from Portugal itself. Opening a bank account and taking part in an interview are two crucial pre- and post-application processes that must be completed in Portugal.
Relocating to Portugal is strongly advised before you start your application in order to streamline the procedure and familiarize yourself with the nation. Airlines like Tap Air Portugal and United provide direct flights to Lisbon from New York, Washington, D.C., Boston, Chicago, and Miami.
Observe the travel limitations for the US and the EU/EEA. A Golden Visa application will probably take many months to process. You may visit Portugal and any of the 26 Schengen-area nations without a particular tourist visa for stays of up to 90 days while your application is being processed. You need a passport with at least two blank pages that is valid for at least six months in order to travel to Europe as a citizen of the United States.
Travel limitations are evolving. It is important to note that starting in 2021, the European Council will alter the regulations governing American individuals who visit the EU. Although you may now visit the 26 Schengen-area nations visa-free for up to 90 days, from January 1, 2021, you will need to register online via the European Travel Information and Authorization System (E.T.I.A.S.) and pay a nominal charge.
The three-year E.T.I.A.S. registration is valid for an unlimited number of submissions. If you want to visit Portugal after January 1, 2021, to submit an application for a Golden Visa, you must first register with E.T.I.A.S.
Consult a local. You must choose a Portuguese tax agent that tax officials may get in touch with on your behalf when you apply for your NIF. This can be your lawyer, accountant, acquaintance, or member of your family. If you want to speed up regional procedures like creating a Portuguese bank account and making your investment, it is advised that you engage with a tax agent that speaks Portuguese.
Think about how you’ll provide your address evidence. You can be asked to provide documentation of your residence while establishing a bank account in Portugal, such as a customs form, SIM card delivery receipt, utility bill, or rental agreement.
It is simpler to create an account if you can provide verification of a Portuguese address, even though many banks in Portugal will accept applications using information from your U.S. address.
Get your paperwork translated. Any English-language paperwork you submit with your applications, such as medical records and background checks from the United States, must be translated and verified into Portuguese. Both the U.S. and Portugal are acceptable locations for translation and certification.
Obtain dual citizenship. You are qualified to apply for Portuguese citizenship if you are granted a Golden Visa. Because the United States permits dual citizenship, unlike some other nations, you are not required to give up your U.S. citizenship in order to get Portuguese citizenship.
abide with tax requirements. If you decide to retain your American citizenship, you will probably be subject to the same tax reporting requirements whether you live in the United States or Portugal.
The good news is that you may not have to pay Portuguese taxes on qualified income from the U.S. since Portugal and the U.S. have signed a double-taxation agreement.
Portuguese proficiency is advised but not needed. The great majority of residents under 40 in big cities like Porto and Lisbon are bilingual in English and Portuguese. Learning Portuguese is not necessary to get a Golden Visa to visit and live happily in Portugal, but it is highly advised if you wish to explore the country’s rural regions and understand more about the local way of life.
Additionally, you must pass a language exam demonstrating your proficiency in reading, writing, and speaking Portuguese if you want to ultimately seek for citizenship.
Whether you are a U.S. citizen or not, we urge you to get in touch with our team at Lifeafar if you have any questions regarding the Portuguese real estate investment prospects or the Golden Visa application process.
Take advantage of Portugal’s revival.
Get in touch with us to find out more about investing in the opulent Casa do Cativo boutique hotel if you wish to qualify for a Golden Visa and benefit from Portugal’s booming tourist industry.
Top 10 Safest Countries To Live In
Top 10 Nations With The Best Quality Of Life
