Golden Visa Program in Portugal

The Golden Visa Program allows non-EU citizens to obtain residency in Portugal through investment. This program is designed to attract foreign investment and stimulate the economy.

1. Eligibility Criteria

• Non-EU Citizens: Applicants must be from outside the European Union.
• Investment Options: Choose one of the following investment routes:
  • Real Estate: Purchase property worth at least €500,000 (or €350,000 for properties over 30 years old or in urban regeneration areas).
  • Capital Transfer: Transfer at least €1 million to a Portuguese bank account or approved investment.
  • Job Creation: Create at least 10 permanent jobs in Portugal.
  • Investment Fund: Invest a minimum of €500,000 in a qualified investment fund.
  • Scientific/Technological Investment: Invest at least €500,000 in research activities or support for the arts.

2. Application Process

• Step 1: Choose Investment Option: Select the investment route that suits your financial situation.
• Step 2: Prepare Documentation: Gather necessary documents, including:
  • Valid passport
  • Proof of investment
  • Criminal record certificate from your home country
  • Health insurance
  • Proof of accommodation in Portugal
• Step 3: Submit Application: Applications can be submitted online through the Portuguese Immigration and Borders Service (SEF).
• Step 4: Pay Fees: Pay the application fee (approximately €5,000 per applicant).
• Step 5: Attend Interview: An interview may be required at a SEF office.
• Step 6: Receive Residency Permit: If approved, you will receive a temporary residency permit valid for two years.

3. Costs Involved

• Investment Amount: Varies based on the chosen option (minimum €350,000 to €1 million).
• Application Fees: Approximately €5,000 per applicant.
• Renewal Fees: €2,500 for each renewal (valid for two years).
• Legal Fees: Hiring a lawyer for assistance can range from €1,000 to €3,000.
• Property Taxes: If investing in real estate, consider IMT (Property Transfer Tax) and annual property taxes.

4. Residency and Benefits

• Residency Duration: Initial residency is valid for two years, renewable for another two years, and can lead to permanent residency after five years.
• Travel: Visa-free travel within the Schengen Area.
• Family Inclusion: Spouses and dependent children can be included in the application.

5. Country-Specific Considerations

• Real Estate Market: Research the property market thoroughly; prices can vary significantly by region.
• Tax Implications: Understand the tax obligations in Portugal, including potential capital gains tax on property sales.
• Language: While English is widely spoken, learning Portuguese can facilitate integration and communication.
• Regulatory Changes: Stay updated on any changes to the Golden Visa regulations, as policies can evolve.

6. Important Notes

• Investment Must Be Maintained: The investment must be maintained for the duration of the residency.
• No Minimum Stay Requirement: There is no minimum stay requirement, but a minimum of seven days in the first year and 14 days in subsequent years is required to renew the visa.
• Path to Citizenship: After five years of residency, you may apply for Portuguese citizenship, subject to language and integration requirements.

This structured overview provides essential information about the Golden Visa Program in Portugal, helping potential applicants understand the requirements, processes, and implications of the program.