How to Obtain a Portugal Golden Visa? A Step-by-Step Guide

March 10, 2023

The Portuguese Golden Visa program is just one of several pathways to permanent residency in Portugal or Portuguese citizenship. Get out about the ins and outs of the Portugal Golden Visa, from the application process to the exact amount of money you'll need to invest.

The popularity of the European Union's "Golden Visa" programs has skyrocketed recently. With the world becoming increasingly interconnected, relocation abroad is becoming less difficult, although specific conditions must be met.

Global Residence Index has been assisting investors in acquiring golden visas for many years. Here is a rundown of the steps required to apply for a Golden Visa in Portugal, which can be earned by investments in things like real estate, businesses, or even works of art.

Visa Requirements for Portugal's Investment Sector

The Portuguese "golden visa" is available to any foreign national who is not a citizen of an EU or EFTA country. Each applicant, whether an individual investor or a firm, must make at least one of the following investments to be considered.

To participate in Portugal's residence by investment initiative, you need to meet one of the following requirements:

  • Minimum one million Euro inflow into Portugal
  • The addition of at least 10 new roles in Portugal's labor force.
  • Invest at least €500,000 in a Portuguese property; acquire at least €350,000 in older real estate located in Portuguese urban regeneration regions at least 30 years old.
  • At a bare minimum of €350,000, Portugal's scientific community can get to work on some serious inquiries.
  • Putting at least €250,000 into Portugal's arts and cultural institutions;
  • Putting at least €500,000 into Portugal's small and medium-sized businesses.

Shareholders of companies registered in Portugal or another EU member state who have established residency and paid all applicable taxes can apply for an investor visa in Portugal. The initial investment required to obtain a Portuguese golden visa must be kept active for at least five years after the visa is initially granted.

What is Portugal's "Golden Visa" Program?

Portugal's golden visa program aims to attract international investment and enhance the home economy. This visa is also referred to as a Resident Permit for Investment, and it facilitates the rapid acquisition of Portuguese citizenship in exchange for payment.

Gold visas in Portugal are one-year temporary residence permits. Successive visa extensions are also for two years.

Instructions For Obtaining a Golden Visa From Portugal

An online application for a golden visa to Portugal is currently being accepted by the Portuguese Immigration and Borders Service (SEF). All attendees must first register in advance on our website.

The pre-registration appointments scheduled by legal representatives must be completed on a different website. Applicants for visas must have their legal representatives submit a power of attorney signed by the applicant.

In addition to mailing or faxing in an application for a Portuguese golden visa, the applicant or their authorized legal representative can submit the paperwork in person at the Regional Directorate or SEF office closest to them. Call the SEF at (+351) 214-236-625 (office hours: 9:00 am - 5:30 pm CET) to schedule a visit.

Necessary Formalities

If you want Portugal to consider you for a golden visa, you must show them the following.

  • You'll need a passport or other form of official identification; a visa or other documentation showing that you're authorized to enter Portugal (such as a Schengen visa for a short stay);
  • Proof of medical coverage (issued within the last three months)
  • Certificate of No Criminal Record from Country of Birth or Permanent Residence (issued within the previous three months)
  • Documentation showing that you've paid your taxes and contributed to social security
  • Proof you've paid the required amount for a Portuguese "golden visa."

As an added requirement, bidders must demonstrate a willingness to keep their investment intact for at least five years. In addition, applicants need to show proof of their investment by submitting the following:

  • A bank statement for monetary investment.
  • Job creation and real estate investment are both facilitated by employment contracts and purchase deeds, respectively.

Proof of meeting the minimum stay criteria during the period may be required to renew a Portuguese golden visa. Many proof standards depend on the type of investment being made.

The period required to obtain a golden visa from Portugal can range from a few weeks to many months. Applicants (or their authorized representatives) will be contacted by the SEF to schedule an appointment once their application for a Portuguese golden visa has been processed.

Benefits: When Is a Portugal Golden Visa Necessary?

Let us talk about the benefits of the Portugal Golden Visa.

Visa-Free Destinations

You can enter the Schengen Area database if you have a Golden Visa. And it means you can go wherever you like in Europe without worrying about getting a visa for each country. You can visit 188 countries visa-free with a Portuguese passport.

Living, Working, and Studying

The Portuguese Golden Visa entitles holders to reside in, work in, and attend school within the country.

You must have health insurance if you use your Portuguese Golden Visa to move to Portugal permanently. Yet, you will have unrestricted use of government-provided amenities like healthcare and schools.

Yet, there are several private British and American foreign schools and those that follow the Portuguese curriculum.

The work visa will allow you to open and operate a business in Portugal and work anywhere.

Tax Benefits

You will only have to pay taxes in Portugal once you stay for more than 183 days in a given year. In that case, you'll be treated as a tax resident of Portugal.

Compared to other countries' tax systems, Portugal's is more appealing to non-Europeans who are thinking of making the country their permanent home. The first ten years of presence in the country are tax-free if you qualify for non-habitual residency (NHR). In 2020, a minor adjustment to the program will prevent non-citizens from receiving tax benefits on their pensions.

Advantages All-Around

You have the option, but not the obligation, to reside and work in Portugal if you obtain a Portuguese Golden Visa. It is to your advantage to make Portugal your permanent residence due to the country's lenient tax rules.

If you have a Golden Visa, you can visit any country in the Schengen Visa-Free Area without worrying about getting a visa. You can petition for Portuguese citizenship with a Golden Visa and five years of residency in Portugal. If you hold a Portuguese passport, you can travel freely inside the European Union and settle there permanently.

Conclusion

One major perk of Portugal's Golden Visa scheme is that investments can be made for as little as €280,000. Portuguese In Portugal, investors who get the Golden Visa program can seek a European passport after five years.

 

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Carlos Diaz
I believe in making the impossible possible because there’s no fun in giving up. Travel, design, fashion and current trends in the field of industrial construction are topics that I enjoy writing about.

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