Update Oct 2023 Golden Visa Portugal
Portugal Residency by Investment program has consistently ranked among the most sought-after initiatives in Europe for an extended period. A significant transformation occurred in October 2023, resulting in the removal of real estate as an investment option. Nevertheless, it continues to stand as one of the most competitive programs for those seeking European citizenship. Remarkably, by spending just seven days per year in Portugal, investors can secure the opportunity to apply for Portuguese passports for their entire family after a five-year period.
Benefits of a Portuguese residence permit
Free movement in the Schengen area – a visa allows its holder to visit the countries
of the Schengen area without obtaining additional visas.
Requirements for staying in the country – 7 days during the year – with a Golden Visa, you need to stay in Portugal for only 7 days in the first year and 14 days in subsequent years.
- Residence permit for family members in 6-8 months with the right to work – your whole family can freely live, study and work in Portugal.
- Social and Political Security – Portugal is recognized as one of the safest countries to live in the world with a low crime rate.
- The ability to obtain permanent residence and citizenship in 5 years – a Portuguese passport makes it possible to live and work in any country of the European Union. Also, having permanent residence in Portugal, you can visit more than 150 countries
without a visa.
- Income from investments – the possibility of obtaining additional income from investments (profit from rent from real estate objects)
- Tax Planning Opportunity – With Portuguese Golden Visa you can apply for non-habitual resident status, which provides a reduced rate of income tax (20%) for a specific professional activity. The status is valid for 10 years.
- Health care system – medical service of the European level.
- More than 3000 hours of bright sun a year.
- The cost of living is lower than in other EU countries.
Type of investments for Portuguese Golden Visa
The Portuguese government recently announced that the conditions for getting a Golden Visa will change from October 2023. What are they? The client must make and maintain a investment exluding real estate for a minimum period of 5 years, during which he/she will have to spend a minimum period of 7 days per year in Portugal. The client can choose one of the following investment options:
– Minimum investment of €500,000 Investment in Private Equity Funds. Funds are supervised by the Government, and the total investment can be diversified between several funds.
– Minimum investment of €500,000 in creating or becoming part of companies registered in Portugal, through investing in share capital and generating at least 5 jobs.
– Minimum contribution of €250,000 to recovery or maintenance of national cultural heritage or artistic production (€200,000 in a low-density area)
– Minimum contribution of €500,000 to scientific research activities of recognized public or private research entities (€400,000 in a low-density area)
Invest Citizenship will find the best options to invest according to your request. You can
read about Residency Portugal Program here
Steps of obtaining a Golden Visa:
- Choose a type of investment.
- Get the NIF – taxpayer id number (it is necessary to have a tax representative for this).
- Open a bank account in Portugal. It is possible to do it remotely.
- Transfer from abroad the necessary amount of investment from any non-Portuguese
- Make the required investment from the Portuguese account;
- Once all the required paperwork is ready, submit the application on the SEF online portal
and pay the Government application fee;
- Schedule and attend the physical meeting at SEF and submit the original documents.
- Pay the Government final permit issue fees (when an application is approved). It will
take up to 90 days.
- Collect the residence cards.
Normally the whole process of obtaining a Golden Visa can take approximately 9 months. Invest Citizenship gives wide range of Services, helping you to accomplish the steps easily.
Who can apply for a Portugal Golden Visa?
Any citizen of a non-EU and EFTA country who invests in the Portuguese economy. Requirements for an investor:
- Age above 18 years old.
- Absence of criminal record.
- Legal income
Investors can obtain a Golden Visa for their family, but not in all cases is possible. Here is information, on who can apply as a relative of the main applicant.
- Children under 18 years old or disabled children are supported by one or both
- Children under 18 years old are adopted by the applicant or his spouse during or
- Adult children (up to 26 years old) are supported by one or both spouses, who are
not married, as well as students in any country and have the same address as the
- Parents over 65 years old and supported by the applicant or his spouse.
- Minor brothers and sisters if the applicant is their legal guardian.
How much does a Golden Visa cost?
Golden Visa costs
When required investment is made and you are a legal owner of Portuguese property, the next step is to apply for a Golden Visa. Here is information on how much it costs.
- An application fee is €533.9 per initial and renewal application and €83.3 for each
additional family member. It must be paid before the submission of the Golden Visa
- Golden Visa issuance fee of €5.336,4 per applicant, has to be paid when the
application is approved. The issuance fee upon each renewal is then reduced to €2.668,20
per applicant. Each renewal is for 2 years, so it has to be done twice in 5 years.
- The Government application fees for permanent residency and citizenship, are,
respectively, €350 and €250 per applicant. The Application can be granted after the Golden
Visa 5-year period.
Total for 1 person all the costs are €11.555,8 per applicant. The additional cost is medical insurance, which depends on the clients preferences (around 400 per year. The government fee could be changed slightly, so please contact us for the latest information.
Do not overlook this extraordinary opportunity to obtain your Golden Visa under the current advantageous conditions. We invite you to contact us today for tailored guidance on your path toward a prosperous future in Portugal. Our team is dedicated to providing you with the support and expertise you need to secure your Golden Visa confidently. Your pathway to a brighter future in Portugal is within reach, and we are here to assist you every step of the way.