Portugal Golden Visa – Eligibility, Requirements, and Application

As the name applies “Golden”!, The Portugal golden visa is a fast and effective pathway to gain citizenship and permanent residency in Portugal. Basically, this visa is offered to individuals (including non-European citizens) who are willing to invest in the country, and in return, they gain citizenship or permanent residence.

Portugal is a peaceful country with friendly people, having a wide coastline, beautiful landscape, delicious dishes, and a welcoming climate. More so, it has a relatively low living cost, offering good quality of life to its citizens and residents, making it an ideal place to work, live, and study.

Therefore, in this article, we will enlighten you on the eligibility criteria, requirements, and how to apply for the Portugal golden visa. Keep reading!.

What is Portugal’s golden visa?

The Portugal golden visa is one of the most popular schemes in Europe that was introduced in 2012. It is also known as the residence permit for investment activity that was launched to attract capital to Portugal as a result of the economic crisis they experienced in 2008.

And since then, it has gained popularity around the world, generating about €6 billion.

Therefore, if you are a holder of this visa, you will be granted the freedom to work, live, and study in Portugal and even in any part of Europe. And after 5 years, you will be eligible to apply for citizenship in Portugal.

Benefits of Portugal Golden visa

Without a doubt, the benefits that the golden visa holds surpass some other visas in Portugal. Some of these benefits include:

• With about €280,000 investment, you qualify for a residence permit in the country. Mind you, it is the lowest threshold you can get.
• It is not compulsory to move to Portugal to maintain your residence permit. Although, you have to be present for at least one week a year.
• After 5 days, you will be eligible to obtain citizenship in Portugal. Note that this is the quickest way to obtain citizenship in the whole of Europe.
• With this Visa, you can gain entrance into European Union Schengen visa countries.
• Likewise, you can extend your right of residency to your dependent and spouse- through the reunification program provided by Portugal.
• Obtaining the citizenship status of Portugal does not mean you denounce the citizenship of your home country, i.e Portugal allows dual citizenship.

Eligibility criteria for the Portugal Golden visa

Without a doubt, to be eligible for the Portugal golden visa, you must be at least 18 years of age and have no past criminal records in your home country. Also, the fund you use for your investment must be from other countries aside from Portugal.

Mind you, your venture capital fund or investment fund must be fully registered in Portugal. You can invest in real estate, student accommodation retails, etc. Likewise, you can put funds into investing in technology, energy, and even agriculture.

There is no limit to how much you can invest in the country. Nevertheless, you need to fully review and understand the investment you’ll be opting for, to choose the one you’ll be comfortable with.

Requirements for Portugal golden visa

To apply for the Portugal golden visa, you must meet the following requirements. Mind you, you must know that you will have to spend not less than seven days every year in the country. Check out the documents required for the application

• Photocopy of your passport. In other words, if you have any other travel document that is issued by the government, you can present it as well.
• Proof of the Investment you are planning to carry out in Portugal. Note that if you’ll be going for real estate you need to obtain a promissory or deed sale agreement (which is proof of deposit payment). However, if it is an investment fund, you will need to tender the proof of fund subscription.
• Evidence of fund transfer from the Portuguese financial institution.
• Evidence of health care coverage. And yes, if you’d be opting for coverage in Portugal, you need to get coverage from the national health system. However, if outside Portugal, you should obtain it from an internationally covered company.
• Police clearance from your home country. It should not be less than three months from the day you submit.
• You will also swear to the declaration to comply with the minimum investment that you need in Portugal.
• Likewise, you must be in good standing with the social security system and Portuguese customs authority, having documents to attest to that. Note that this document must be issued within 45 days you submit the form.
• Evidence of an ARI application payment.
• And yes, if the documents listed above are issued by a non-Portuguese entity, you need to legalize them. Moreso, if your country is part of the Hague convention, your legalization must have an apostille.

Application fee for the Portugal golden visa

It is highly important to know about the application fee for this visa type. That is why we have stressed it out in this section. Check below for the fees you may need to pay.

• Processing fee: €533 per applicant (+ €83 /dependent). Once at the beginning and then at each renewal
• Initial application fee: €5,325 per person (once at the beginning).
• Renewal Application fee: €2,663 per person (at each renewal).
• Legal fee.

How to apply for the Portugal Golden visa

Basically, the application for the Portugal golden visa is quite easy. You will have a successful application if you take the necessary steps with the right documentation and investment. You can check below for more information on the steps to take.

Step one: Choose an investment type

No doubt, the very first step towards obtaining the Portugal golden visa is to analyze the different investment types in Portugal, and then decide on the one you will opt for. FYI, about 90% of applicants opt for real estate investment. But you can always go for any.

Step two: Collate all documents

You will have to collate all the documents you need for the registration process. We have provided the list above. And in case you’d be going with your dependents, they have to get all necessary documents in check as well.

It is highly important that you notarize, translate, certify, and get apostilles for your documents- if need be!.

Step three: Obtain a NIF and Open a Bank Account

Basically, you can open an account and get a NIF in a day in Portugal. And yes, your lawyer can help with the task if you’d be absent from the country.

Step four: Finalize the investment

After choosing your investment type and making all necessary documentation, you can proceed to pay and lock your investment in Portugal.

Step five: Submit Pre-Application

Without a doubt, you will have to submit your application to SEF online after your qualifying investments and paperwork is ready. In some cases, your lawyer will assist you in this and let you know if something is missing. It will take about 2 months after submitting your documents to get an appointment.

Step six: Schedule and Attend Your SEF Appointment

The SEF will give you the date for your biometric appointment. On that day, you and your dependents must be present physically at the SEF office for fingerprinting and other official registration.

Step seven: Obtain your Golden visa and renew

After a successful application, you and your dependents will obtain the golden visa residence cards. Your lawyer can get these cards and send them to you. Mind you, the card is valid for about 2 years after which you will have to renew.

Step eight: Gain Portuguese citizenship

Basically, after renewing your Portuguese visa about two times, and having completed five years, you’d be m eligible to become a citizen of Portugal. It could take about six months to twelve months for the validation of your application. So, once you’ve obtained citizenship status, you wouldn’t have to maintain your investment in Portugal.

Frequently Asked Questions

Is Portugal Golden Visa still available?

Yes, the Portugal Golden Visa is still available. The program offers several benefits, including the ability to live and work in Portugal, access to healthcare and education, and the ability to travel throughout the Schengen Area. To be eligible for the program, you must invest at least €500,000 in a qualifying property or business.

Who is eligible for Portugal Golden Visa?

The Portugal Golden Visa is available to individuals and their families who meet certain eligibility requirements. To be eligible for the Portugal Golden Visa, you must either be a millionaire or invest in Portuguese real estate. The Portugal Golden Visa is a great way to get residency in Portugal and enjoy all of the benefits that come with it.

Can I buy Portugal citizenship?

Yes, you can buy Portuguese citizenship, but it’s not cheap. The cost of citizenship ranges from €250,000 to €1,000,000, depending on the investment you make. You must also meet certain residency requirements.

How strong is Portugal’s passport?

Portugal’s passport is ranked as the 9th strongest passport in the world, with a visa-free score of 172. This means that citizens of Portugal can travel to 172 countries without a visa.

Can I get PR in Portugal?

Yes, you can get PR in Portugal. To be eligible, you must meet certain requirements, such as having a valid visa and being able to prove that you have ties to the country. The process of obtaining PR can be complicated, so it is best to consult with a lawyer or immigration specialist.

Conclusion

Becoming a permanent resident and citizenship in Portugal has been made easy with the Portugal golden visa. All you have to do is to invest in Portugal and you stand the chance of living and being a citizen of the country.