1. What is the Portugal Golden Visa?
The Portugal Golden Visa is a residency-by-investment program that grants non-EU citizens the right to live, work, and study in Portugal. This visa is popular due to its flexible residency requirements, enabling investors to eventually gain Portuguese citizenship and access the EU.
2. Benefits of the Portugal Golden Visa
- Residency in Portugal: Live and work in Portugal, with minimal stay requirements (7 days in the first year, 14 days in subsequent two-year periods).
- Path to Citizenship: Eligible for citizenship after 5 years of holding the visa.
- Family Reunification: Spouses, dependent children, and parents can also gain residency.
- Access to the Schengen Area: Visa-free travel across the Schengen Zone for 90 days within a 180-day period.
3. Investment Requirements for the Portugal Golden Visa
The primary requirement is an eligible investment, with various options to choose from. Below are the most popular investment routes and minimum amounts required as of 2024:
3.1 Real Estate Investment
- Minimum Investment: €500,000 for property in general locations or €400,000 in designated low-density areas.
- Property Renovation Investment: €350,000 for properties older than 30 years or located in urban regeneration zones (reduced to €280,000 in low-density areas).
3.2 Capital Transfer
- Minimum Investment: €1.5 million transferred into a Portuguese bank or business account.
3.3 Job Creation
- Requirement: Create at least 10 full-time jobs for Portuguese citizens.
- Low-Density Area Reduction: Minimum of 8 jobs if located in low-density areas.
3.4 Investment in Scientific or Technological Research
- Minimum Investment: €500,000 in research conducted by scientific or technological research institutions.
3.5 Investment in Arts or Cultural Heritage
- Minimum Investment: €250,000 in support of preserving Portugal’s cultural heritage or arts sector.
3.6 Investment in a Venture Capital or Investment Fund
- Minimum Investment: €500,000 in an approved Portuguese investment fund with a focus on businesses or sectors that qualify for the Golden Visa.
4. Eligibility Criteria for the Portugal Golden Visa
To qualify, applicants must:
- Be non-EU/EEA/Swiss citizens.
- Be at least 18 years old.
- Meet minimum investment requirements and hold the investment for a minimum of 5 years.
- Have no criminal record in Portugal or home country.
- Demonstrate funds for the investment from a legal source.
5. Required Documents for the Portugal Golden Visa Application
To apply for the Golden Visa, you will need the following documents:
- Valid Passport: Copy of the passport of each applicant.
- Proof of Investment: Documentation showing funds have been invested (property deeds, fund shares, bank transfer records).
- Criminal Record Certificate: Background check from country of residence, issued within 90 days before application.
- Proof of Income and Legal Source of Funds: Bank statements and documents showing the legal origin of investment funds.
- Portuguese Tax ID Number: Obtainable through a legal representative in Portugal.
- Health Insurance: Valid coverage for the duration of your stay in Portugal.
- Application Form and Passport Photos: Completed application and passport-size photos for each applicant.
All documents in a language other than Portuguese or English must be translated and notarized.
6. Application Process for the Portugal Golden Visa
Step 1: Choose an Investment and Gather Required Documents
Select an investment option, and ensure you have proof of funds and all required documentation. A lawyer or legal representative in Portugal can assist with necessary documentation and processes.
Step 2: Apply for a Portuguese Tax Number (NIF)
All applicants must have a Portuguese Tax Identification Number (NIF). This can be obtained through a local lawyer or tax representative.
Step 3: Submit the Initial Application Online
Create an account on the ARI Portal (the Portuguese Immigration and Borders Service online platform) and upload your documents and application forms.
Step 4: Schedule a Biometric Appointment
After initial approval, schedule a biometric appointment at a Portuguese Immigration and Borders Service (SEF) office to submit fingerprints and photos.
Step 5: Pay Application and Processing Fees
- Application Fee: Approximately €533 per main applicant and €83 per dependent.
- Issuance Fee: Approximately €5,325 per applicant after visa approval.
Step 6: Wait for Approval and Receive Your Residence Permit
Upon approval, the applicant and family members receive a two-year residence permit, renewable for additional two-year periods.
7. Residency and Citizenship Requirements
Residency Requirements
To maintain residency status, Golden Visa holders must spend at least:
- 7 days in Portugal in the first year.
- 14 days in each subsequent two-year period.
Citizenship Eligibility
After 5 years, Golden Visa holders may apply for Portuguese citizenship, subject to meeting basic language requirements (A2 level in Portuguese) and passing a background check.
8. Frequently Asked Questions
- Can I rent out my property investment for income?
Yes, property purchased for the Golden Visa can be rented out. - Is the Golden Visa renewable?
Yes, the initial residence permit is renewable every two years, provided investment and residency requirements are met. - Do family members qualify under the Golden Visa?
Yes, spouses, children, and parents of the main applicant are eligible for residency under the Golden Visa. - Can I work in Portugal with the Golden Visa?
Yes, the Golden Visa permits you to work, study, and live in Portugal. - What happens if I sell my investment before 5 years?
The investment must be held for 5 years. Selling or withdrawing before that time may disqualify you from residency renewal.
9. Conclusion
Portugal’s Golden Visa offers a flexible pathway to residency and, eventually, citizenship for non-EU nationals through various investment options. With benefits like visa-free access to the Schengen Zone and a straightforward path to EU citizenship, the Golden Visa remains a popular choice for global investors. By understanding the requirements, gathering the necessary documents, and meeting investment criteria, applicants can successfully obtain a Golden Visa and begin their journey toward a European residence and lifestyle.