What is Portugal Golden Visa Program?
The Portugal Golden Visa Program, a 5-year system of residency-by-investment for non-EU citizens, is also known as the Residence Permit Program. The charm of Portugal is addictive, starting with its hypocritical Atlantic and luscious landscapes to its all-year sunlight. This gold visa award the right to live, work and study in Portugal to eligible investors and their families and allows the free movement of persons within the European Schengen region. The options of becoming a permanent resident or a citizen are available as long as the qualified investment is maintained for at least five years. The Portuguese law on immigration and nationality complies with all conditions.
Everything to know about Portugal Golden Visa Program:
What’s interesting about the permit is that an investor needs to stay in Portugal only for approximately seven days a year while also benefiting from being an EU resident—including visa-free travel in the entire Schengen region. Since more than 6,500 foreign investors have benefited so far, the scheme has also helped the Portuguese economy.
This is excellent news for future investors, as almost all political parties in Portugal back the initiative extensively. In 2012, the socialist alliance government launched the industry and more after the seizure of power in late 2015. It has become a conservative government.
The leading share of Golden Visas was given by far to Chinese citizens, led by citizens from Brazil, South Africa, Turkey, and Russia.
How to get the Golden Visa in Portugal?
You have to make a qualifying investment in real estate or money – and keep the corresponding investment for five years to get your Golden visa in Portugal. To apply, a Portugal Golden Visa lawyer or a Portuguese Golden Visa specialist should also be consulted to see what documents are required in addition to your investment.
Who is eligible for the Golden Visa?
Any third-world country national – everybody except Portuguese and EU/EFTA nationals – would be eligible, until a proper investment is made in Portugal, to qualify for the Golden Visa. The investment may be made as a person or a legal entity that satisfies those conditions. The (minimum) physical appearance specifications stated below must be complied with.
- Keep investment over a minimum five-year term.
- During the first year, spend at least seven days in Portugal and not less than 14 days in each 2-year cycle afterward.
What are the available investment options?
You need to meet at least one of the following conditions regarding your investment for applying to the Portugal Golden Visa Program:
- At least €1,000,000 transfer of capital.
- Property acquisition at minimum €500,000 in valuation.
- Establishing a minimum of 10 jobs.
- Capital transfer of at least €350,000 for incorporating or increasing share capital, along with five permanent employees, for a term of three years of a corporation with its registered headquarters in Portugal.
- Purchase of buildings finished with renovation work at least thirty years earlier or in an urban rehabilitation area.
- Transfer capital of at least €250,000 to spend or encourage the creative output of national cultural heritage or recover or preserve it.
- Capital transfer of at least €350,000 spent in research conducted by scientific research institutions in public or private that belongs to the national scientific and technological system.
- Capital transfer of at least € 350,000 to acquire capital units or venture capital funds for the capital supply to undertakings that meet certain specifications.