Portugal Golden Visa 2024

The idea of moving to Portugal is exciting for many people. The country has stunning landscapes, a rich and interesting history, affordable living with good quality housing units, excellent healthcare and education facilities as well as warm friendly culture.

Citizenship through investment is becoming more popular over time. In line with this, the golden visa programme was introduced in Portugal which allows non-EU nationals to stay in the country if they make investments. However, this program has just been dropped. Read on for all you need to know about applying for a Portuguese Golden Visa.

The Portugal Golden Visa is a residency permit for non-EU nationals who have made significant investments in Portugal such as buying real estate property; making capital investment or creating jobs.

With the golden visa, you can apply for Portuguese citizenship within five years which is the fastest and easiest way to get permanent residency and citizenship in an EU country.

If you get granted the golden visa after five years then you can apply for citizenship. But unlike other countries it does not require that you live in Portugal during those years when applying for Portuguese citizenship through the golden visa process.

You only need to spend seven to fourteen days per year fully experiencing the country. However, they will require proof that you have somewhere to live in Portugal; a stable source of income and basic knowledge of Portuguese language.

Requirements for Portugal Golden Visa

To obtain a Golden Visa in Portugal one must make any of these investments:

Buy property worth minimum EUR 500,000. If you purchase at low-density area then it requires EUR 400,000.
Purchase a property located in Portuguese urban renewal region with price tag of EUR 350k.The amount decreases to EUR 280k if investing low density area.Project must be eligible for SEF (Portuguese Immigration and Borders Service) funded programs.
Invest at least EUR 350,000 in approved investment fund. Investments are overseen by Portuguese Securities Market Commission (CMVM) which mainly involves venture capitals in start-up tech companies or real estates.
Transfer capital of not less than €1m to any Portuguese bank account.
Acquire company shares worth minimum one million euros.
Invest a minimum of EUR 1m into a business
Create at least ten job positions for Portuguese citizens
You must invest a minimum of EUR 350,000 in setting up a business or increasing share capital of existing one with aim of creating five full time jobs at least.
Provide capital of not less than EUR 350,000 for science and technology research projects within private or public research institutions.
Contribute €250k as capital towards restoration works on national heritage sites or support arts related activities.

Portugal Golden Visa eligibility

The following conditions must be met for you to be eligible for a Portugal Golden Visa:

You have to be older than eighteen.
You have to commit a large sum of money that will help the Portuguese economy.
You must not have ever had a criminal record.
The money you want to invest must be yours.
You have to pledge to keep up the investment for a minimum of five more years.

Portugal Golden Visa required documents

The following paperwork is required when applying for a Portugal Golden Visa:

The official application for a visa to Portugal
A valid passport
Two passport-sized photos that comply with the Portugal visa photo specifications
Valid proof of health insurance received in Portugal
Evidence that the individual has never been arrested before. A certificate is required from each nation where you have resided for more than a year. The certificate must be translated into Portuguese and sworn by the appropriate authorities, having been issued within the last three months.
Proclamation promising to keep your investment for a minimum of five years
Refund confirmation via the ARI site

Acquiring a minimum of EUR 500,000 worth of real estate property:

The pre-contract agreement or the property’s acquisition deed
A declaration from a financial institution registered or authorized in Portugal attesting to the assets’ successful international transfer
The Land Register Certificate certifies the property’s ownership together with the records, endorsements, and registration that are now in effect.
If appropriate, the property’s legal description

A 350,000 euro property investment in a Portuguese urban renewal area:

The documents listed above
A declaration from an authorized body attesting to the property’s location in a regeneration area

Money transfer into a bank account totaling at least EUR 1 million:

Attestation for the deposit from a financial institution registered in Portugal. There must be no fees or responsibilities associated with the transfer.

Creation of a minimum of ten jobs:

A financial institution’s Portuguese-registered declaration attesting to the necessary deposit
Separate employment agreements between the company and the workers
If you own stock in a business: Excerpt from the Companies Register

Investment in the arts

A statement from the Portuguese Strategy, Planning, and Cultural Assessment Office attesting to your investment in the preservation and upkeep of the country’s cultural heritage or supporting the arts, indicating that they have conferred with the relevant authorities in the field
A statement from a Portuguese financial institution verifying the assets’ transfer

Investment on Research

A statement verifying the investment from a public or private scientific research institution
A statement from a Portuguese financial institution verifying the assets’ transfer

How to Apply for a Portugal Golden Visa

The following steps make up the Portuguese Golden Visa application process:

Take a trip to Portugal and invest

In order to see your options and begin the process of investing, you or your lawyers will have to make an initial visit to Portugal. Lets say on this first visit that you want to invest in real estate. If so, then you will tour homes, meet with lawyers, and grant power of attorney to someone if thats what it takes.

If on the other hand you decide to invest in one of the other opportunities your lawyer will help set up the meetings and paperwork for the transfer. You may need a Portuguese Schengen visa to enter Portugal for this short initial visit, if your country requires visas.

Create a tax number and bank account in Portugal

Before making your investment final you must have a Portuguese bank account and tax number.

Another name for a tax number is NIF – Numero de Identificação Fiscal – which can be obtained at the Taxpayer Registration Services (at the local office of Tax and Customs Authority). You will have to submit documents and fill out some forms (provided by the tax office) in order to apply for Portuguese tax number.

Anywhere reliable financial organization is acceptable when opening an account in any bank within Portugal. The process is very easy, same as everywhere else around globe: walk into bank ask them if they would kindly open my account please?

You’ll need proof of identity, proof of address, income information etc for both these procedures.

Finish off your investment

Once you’ve got your tax number & opened up a bank account its time finish off everything else about it too; although completing an investment might take several months before paperwork gets processed through… You should still try order all necessary documents required applying Golden Visa while waiting this period

Apply for the Portuguese Golden Visa

You can now apply for a Portuguese Golden Visa at the Immigration and Borders Service (SEF) after your investment is complete. The steps involved are as follows:

Register for the Residence Permits for Investment Activities (ARI) Portal. The SEF’s internet gateway for managing Golden Visa applications is called ARI. You have the option to register yourself or have a legal agent do it for you.
Provide electronic versions of the necessary documents (no more than 4MB in size, in PDF format).
Pay all applicable fees.
Await the SEF’s confirmation.
Make an appointment at a nearby SEF branch to submit your Golden Visa application.

Give Power of Attorney (POA) to a legal representative to apply on your behalf if you do not want to apply for the visa in person. Golden visa experts at La Vida are one such representative. After that, your attorney can assist you with making your investment and applying for a visa for you and your family.

Get a Portuguese residency visa

Once you submit your application, it may take anywhere from three to six months before you receive your residence permit card. This card can be renewed for up to five years beyond its initial one-year expiration date.

If you possess a resident permit card from Portugal, you are allowed to live and work in the country without any limitations. You will also enjoy the same rights as other Portuguese citizens.

Apply for permanent residency or citizenship

Applicants become eligible for permanent residency or Portuguese citizenship after holding their investment for five years. However, they must now prove ties with the nation and pass a general knowledge examination that tests conversational proficiency in A2-level Portuguese, among other things. Applicants don’t have to meet residence requirements but should demonstrate broad knowledge about local laws and society.

The translation of documents required for a Golden Visa application in Portugal should be done into either English or Portuguese. Translations must be completed by certified translators while certain papers need legalization through apostille stamps — especially those dealing with civil status.

Costs involved with Portugal’s Golden Visa program

In addition to making an investment (e.g., €500,000 in real estate), you will also have to pay various government fees:

Processing fee per family member: €533 Issuance cost per Golden Visa holder: €5,325 Residence permit renewal cost per family member: €2,663 Furthermore, depending on how much money is being invested — as well as personal preferences — applicants may find themselves needing lawyers’ services; consultants’ advice; or other specialists who can help navigate this process. It is also important not forget about document issuance/translation/legalization (apostille stamp) costs.

Validity period of Portugal’s Golden Visa

The first year of holding a Portuguese Golden Visa leads to subsequent renewals every two years so long as one’s investment remains intact over time. After five years pass since obtaining said visa, individuals can then apply for citizenship or permanent residency.