Since 2012, Portugal’s Golden Visa Program has provided Portuguese residency for more than 10,000 investors. These investors are from all around the world.
The program offers certain benefits such as a low stay requirement, and visa-free access to Schengen countries. It can also lead to Portuguese citizenship if you fulfill the minimum stay requirement for five years.
In addition to the benefits above, international investors choose Portugal because of the advantages below:
- Safety,
- Affordability,
- Favorable climate,
- Quality of life, and
- Developed healthcare and education system.
Portugal Golden Visa in a Nutshell
Golden Visa is mainly a residency by investment program. Non-EU citizens can obtain a residence permit by investing in the country.
The aim of the program is to attract international investment into the country. As a result of this, it has raised more than €6 billion within nine years.
There are several investment options to be eligible for Portugal Golden Visa. The whole process to obtain residency takes around six months.
You can find details about the requirements and advantages of the program below.
Advantages of Getting a Golden Visa
The program offers low investment amounts to be eligible for residency. The lowest required amount, for example, is €280,000 investment for real estate purchases.
Another advantage of the program is that you don’t need to stay in Portugal to maintain your resident status. An average of seven days’ stay per year will be enough to keep your residence rights. If you fulfill this for five years, you may be eligible to apply for permanent residency or Portuguese citizenship.
Visa-Free Travel in Certain Countries
Once you get your Golden Visa, you can travel between Schengen countries without the need for a visa.
Furthermore, when you get citizenship, you’ll get a Portuguese passport. The passport allows you to travel to 188 countries visa-free. Also, as of 2021, the Portuguese passport ranks 6th among all passports.
You Can Live, Work and Study in Portugal
The Portugal Golden Visa program provides you the right to live, work, and study in Portugal.
Your children can study in state schools or international schools following American, British, and other curriculums.
Through the work permit, you can work anywhere, and start and run your own business in Portugal.
Family Reunification
Your family members can benefit from the program like you. Your spouse and children under 18 can apply with you. If they are under 26 but full-time students and not married, they can be included as well. Finally, your parents over the age of 65 can apply.
Tax Benefits
Typically, you’ll not be subject to taxes unless you become a tax resident in Portugal.
If you spend more than 183 days in Portugal, then you become a tax resident. There is a program for foreign tax residents in Portugal. It’s called Non-Habitual Resident (NHR) Program. It offers exemptions from many incomes for a duration of ten years.
The Requirements To Apply for Portugal Golden Visa
You need to:
- Be at least 18 years old
- Be a non-EU/EEA/Swiss citizen
- Hold a clean criminal record from both your home country and Portugal
- Invest in a qualifying investment option with a qualifying amount
- Bring your investment funds from outside of Portugal.
Investment Types To Qualify For Portugal Golden Visa
The investment options include investments in real estate, venture capital fund, donation, transfer of capital, and company formation. Choosing one of them is sufficient to apply for Portugal Golden Visa.
If you invest in real estate, you need to:
- Buy property worth more than €500,000 in Portugal. If it’s in a low-density area, you can buy it at a minimum amount of €400,000
- Buy real estate older than 30 years old, in an urban rehabilitation area. You must also renovate the property. The minimum investment amount for this is €350,000. If the property is in a low-density area, you can buy it at a minimum amount of €280,000.
Another option is capital transfer. You need to transfer a minimum of €1 million to Portugal to be eligible for the Golden Visa.
For the fund subscription option, you need to invest a minimum of €350,000 in a qualifying Portuguese fund.
Company formation is another investment option. You can create a minimum of 10 new full-time jobs in a Portuguese business. You can also create a minimum of eight new full-time jobs in a Portuguese business. For this option, the business must be in a low-density area. It’s also possible to invest a minimum of €350,000 in an existing Portuguese business. The incorporated business needs to create a minimum of five new full-time jobs for at least three years.
The donation option entails a minimum of €250,000 investment in preserving national heritage in Portugal.
Another option is to invest a minimum of €350,000 in a research and development activity in Portugal.