PortugalGOLDEN VISA PROGRAM
- MINIMUM INVESTMENT
- TIME TO CITIZENSHIP
- TIME TO RESIDENCY
EXACT TIMEFRAMES MAY VARY
- MINIMUM RESIDENCE REQUIREMENT
REAL ESTATE OPTIONS
- The purchase of a real estate property of a minimum value of € 500,000
- At least € 350,000 of total investment amount for the purchase of property that is older than 30 years old, with the obligation to renovate
- Establishment of an enterprise that creates at least 10 employment positions
- Grants of € 250,000 to institutions related to natural cultural heritage or artistic institutions
- R&D investment of at least € 350,000
- Capital transfer of at least € 1,000,000
- Capital transfer of at least €350,000 for the acquisition of units of investment funds or venture capital funds
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GOLDEN VISA STATISTICS
8 October 2012 – 30 November 2019
- TOTAL INVESTMENT
- TOTAL NUMBER OF FAMILIES
- Investment by real estate acquisition
- Investment by capital transfer
- Investment by creating at least 10 employment
STEPS & TIMELINE
Portugal Golden Visa Process through Real Estate Acquisition
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VISA FREE COUNTRIES FOR PORTUGALPortuguese citizens get visa-free access to 164 countries.
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92,090 sq. km
Portugal Golden Visa - FAQ
How to Get a Visa for Portugal as an Investor?
Portugal’s Golden Visa is offered in accordance with the Ministry of Foreign Affairs through AICEP (Department of Consular Affairs and the Portuguese Trade and Investment Agency). The options of investment for the applicants are as they are listed below: Applicants may acquire property valued at €350,000 or more for properties more than 30 years old or located in urban regeneration areas designated for refurbishing Applicants may invest a minimum of €350,000 in research activities. Applicants may invest a minimum of €250,000 in the arts or in the reconstruction or refurbishment of national heritage projects. Applicants may invest a minimum of €500,000 for shares in investment funds or venture capital. The process of getting Portugal Golden Visa usually takes around 3 to 6 months.
Can a Golden Visa Lead You to a Nationality in Portugal?
Yes. At the end of the fifth year of residence in Portugal, the applicant may apply for permanent residency followed by citizenship. In 2018, Portuguese government changed the Portuguese Nationality Law and reduced the required period of residency to 5 years from 6 years.
How to Invest and Become a Resident of Portugal?
Portugal’s Golden Visa is offered in accordance with the Ministry of Foreign Affairs through AICEP (Department of Consular Affairs and the Portuguese Trade and Investment Agency). The options of investment for the applicants are as they are listed below: Applicants may acquire property valued at €350,000 or more for properties more than 30 years old or located in urban regeneration areas designated for refurbishing Applicants may invest a minimum of €350,000 in research activities. Applicants may invest a minimum of €250,000 in the arts or in the reconstruction or refurbishment of national heritage projects. Applicants may invest a minimum of €500,000 for shares in investment funds or venture capital. The process of getting Portugal Golden Visa usually takes around 3 to 6 months.?
How to Get Citizenship in Portugal?
Portugal does not grant citizenship directly in return of investment. Rather, the country grants residency to its applicants; and after 5 years of conformity to the requirements of the program, residents may become Portuguese citizens.
How to Obtain Residence Status in Portugal?
Any non-EU/EEA nationals who are older than 18 years old can apply for the Portugal Golden Visa provided that they make a substantial investment into the country. The country requires the investment to be maintained for five years. The most popular option is to invest in real estate. Minimum investment requirement of Portugal Golden Visa is €350,000. However, this option can be used only in urban renewal projects that promise no return at least in short term. The option that allows investors to choose the place and qualities of their home requires at least €500,000 of investment.
What is SEF of Portugal?
Portugal’s SEF stands for Serviço de Estrangeiros e Fronteiras meaning Foreigners and Borders Service. SEF takes care of the activities made through Portugal’s Golden Visa. It holds and shares the numbers and statistics about the performance of the program and also information about the expat community of the country.
What is the Official Website of Portugal Immigration?
The official website of Portugal immigration is “https://imigrante.sef.pt/en/” which includes all the necessary information about the topic.
hat is the 350k Golden Visa Investment Option?
The investors may choose to invest in Portugal property that is in need of rehabilitation and restoration. In this case, minimum requirement decreases to €350,000 from €500,000. The property either has to be built more than 30 years ago or has to be located in a designated area of urban rehabilitation. If the property is in a “low density area”, minimum requirement gets reduced to €280,000.
How easy is it to Get a Residence Permit in Portugal?
The Portugal Golden Visa Program enables non-EU/EEA citizens to obtain residence permit for a 5-investment in Portugal. Portugal Golden Visa has issued more than 6500 permits so far. Any non-EU/EEA nationals who are older than 18 years old can apply for the Portugal Golden Visa provided that they make a substantial investment into the country. The country requires the investment to be maintained for five years.
What are the Benefits of Buying Property in Portugal through Residency by Investment?
Portugal’s economy can be defined as reliable and stable. Therefore, Portugal’s real estate market has never gone through huge fluctuations. In 2013 and 2014, real estate market hit its lowest point and then the stabilisation began causing price rises. According to the quarterly RICS/Ci Portuguese Housing Market Survey, low quantity of properties coming onto the market underpins prices. In 2017 they projected that house prices will increase by 5% (on average) per annum. Increasing demand and mortgage availability also contribute to that end. Therefore, apart from the benefits of being a Portuguese resident, Portuguese real estate also yields financial advantages.
How long does it take to a Portugal Passport through Investments?
Portugal Golden Visa grants its holder permanent residency in the country. In 5 years, it is necessitated that the visa should be renewed 2 times after it has been granted. After 5 years the applicant can apply for permanent residency followed by citizenship.
What are the Ways to get a Portugal Visa with Real Estate Purchase?
The real estate investment methods the applicants may follow are listed below: Real Estate The investors may choose to invest in Portuguese property of at least €500,000. They may choose to invest as an individual or as a joint legal entity. If the property is in a “low density area”, minimum requirement gets reduced to €400,000. Real Estate and Rehabilitation The investors may choose to invest in Portugal property that is in need of rehabilitation and restoration. In this case, minimum requirement decreases to €350,000. The property either has to be built more than 30 years ago or has to be located in a designated area of urban rehabilitation. If the property is in a “low density area”, minimum requirement gets reduced to €280,000.
What is the Minimum Investment Required for Citizenship in Portugal?
Different options of investment for Portugal Golden Visa have different minimum investment requirements. The lowest one is embedded in the “Cultural Contribution” option. In this option, the investors can invest at least €250,000 in the artistic production or the recovery or maintenance of the national cultural heritage that is conducted by accredited institutions. If the contribution is made in a “low density area”, the minimum requirement decreases to €200,000.
How Easy Is It to Get a Residence Permit in Portugal?
Getting a residence permit in Portugal is fairly easy. Once the applicant invests the required amount, they only have to reside in the country for 7 days minimum per year. In 3-6 months after the initial investment, successful applicants get their residence permits.
How Long It Takes to a Portugal Passport through Investment
Portugal Golden Visa Program requires a substantial investment in exchange for residence permit. After the investment has been made, successful applicants obtain the residence permit. Provided that the permit holders continue following the rules, after 5 years of residence, they can apply for naturalization.
Can you Finance Real Estate Purchase in Portugal for Golden Visa Program?
Portugal Golden Visa has several different property investment options: First option investors may benefit from is the original clause of Portugal Golden Visa program. The minimum investment requirement for this option is €500,000. However, Portuguese government recently added two other options of real estate investment. Now, investors might choose to buy Portugal property in need of renovation as cheap as €350,000. They might further reduce their costs and choose the option where they can invest €280,000 in low density areas. The applicants may choose one of the options which suits their interests best and apply for Portugal Golden Visa.
Does Portugal Allow Dual Citizenship?
Yes, Portugal is one of the countries which allow dual citizenship.
To Which Countries Portugal Golden Visa Grants Entrance?
Portuguese Golden Visa definitely has some travel advantages. An average European Union passport provides its holder with visa-free travel to at least 150 countries around the world. Portugal being one of the European Union countries certainly has its perks in terms of visa-free travel. Portugal residents can travel freely to all the EU countries and the Schengen Area, 164 countries in total.
Portugal Golden Visa Program offers a permanent residence permit in Europe. The applicant may choose to invest in a real estate property for a minimum value of €500.000. The other real estate option would be a renovation investment for a minimum of €350.000. The reduced Golden Visa option is among the most preferred investment types. Aside from the Portugal property investments the investor may choose to transfer capital or make research and development investment for €350.000. The property chosen for the Golden Visa renovation option should be approved by the Town Hall. What are the benefits and advantages of Portugal Golden Visa Program? The applicants of Portugal investor visa can include their family members into the program. The applicants’ spouse and children below the age of 18 are accepted under family reunification. The program requires a minimum 7 days of residence for each year. Portugal Golden Visa holders can benefit from the privileges of being a European Union (EU) member. Portugal allows visa-free travel to 164 countries including the Schengen countries. Also, Portugal has a very developed healthcare and education system, and the Portuguese residence permit holders may access to the public services which are set at very high standards. The applicants and the family members can benefit from the National Health Service of Portugal just like a Portuguese resident. Additionally, Portugal Golden Visa investors earn the right to have social security and trade union protection. Through the Portugal Golden Visa Program investors may become a Portuguese citizen. The individuals who maintain their permanent residence permit for 5 years may apply for Portugal citizenship. Golden Visa Program offers an easy way to become European citizen. The Portugal Golden Visa Program came into effect in 2012 and the first applicants have already became Portuguese citizens. When an applicant obtains European citizenship and becomes a member of the EU, they can live, work and travel anywhere in the European Union. Enjoy the freedom of movement with a second passport you obtain from Portugal. Portugal has a very favorable tax regime for the investors. The double taxation treaty states that if the income is received from outside of Portugal, the individuals are exempt from being tax resident in Portugal. However, applicants may also choose to become a tax resident in Portugal. The non-habitual tax regime in Portugal offers the chance to reduce the income tax to considerably low amounts. What are the eligibility criteria for Portugal Golden Visa? The applicant who is a non-EU/EEA national and older than 18 years may apply to the program. The investment has to be kept for at least 5 years. The application and renewal process of Portugal Golden Visa consists of several steps and the applicants should seek professional assistance. The investors need to specify their investment criteria and shortlist the possible options. It is recommended that investors visit the country and see the property themselves. The reservation of the property is completed, after the reservation fee is transferred and reservation agreement is signed. The applicant has to open a Portuguese bank account and get a non-resident tax number (NIF) in order to carry out the investment. NIF number is a tax identification number and is issued by the Portuguese Tax Authority. All the financial actions are carried out with the NIF number. The legal process can be assigned to a power of attorney. The real estate property is purchased after the promissory sale agreement is completed and public deed is executed. The applicant needs to gather all the required documents necessary for the Golden Visa application. The required documents for Portugal Golden Visa are as following: passport, visa, entry stamps, criminal records, receipt of the paid application processing fee, and the biometrics and submitted to SEF office. All of the required documents for Portugal Golden Visa has to be translated into Portuguese. At the end of the application, residence cards are delivered to the investor. The renewal time of the golden visa residence cards takes place at the end of first year, third year and fifth year. After the first year of residence, the applicants provide certain documents for the renewal process. The biometrics and criminal records should be resubmitted and a renewal fee has to be paid. At the end of the third year of the residence, renewal process is repeated similar to the first one. When the applicant completes 5 years of residence, they can obtain permanent residency in Portugal.Eligibility for the Golden Visa Program
The applicant has to be a non-EU/EEA citizen older than 18 years in order to apply for the program, the program offers various investment options. The minimum investment amount fort he program is € 350.000 of real estate property which is older than 30 years old and in need of restoration.How to Apply for Portugal Golden Visa?
The investor may make their pre-register online on Portuguese Immigration and Border Service’s (SEF) website. If the applicant chooses to work with a duly appointed legal representative, the representative is required to provide a power of attorney approved by the applicant. The third option is to apply to the program in person at the Regional Directorate.Which Document are Required for Portugal Golden Visa?
Full passport copyFlight tickets to and from PortugalCertified copy of criminal recordProof of health insuranceReceipt of Portugal golden visa feesGovernment fees
Application fee: €520.40Initial issue fee: €5,202.60Visa renewal fee: € 2,601.30
After all of the required documents are gathered and fees are paid, SEF examines the application. The applicant are required to pass a personal interview. After few months, SEF issues residence permit and the applicants receive their residence cards.Renewal of Visas
Portugal Golden Visa holders must renew their residence permit at the end of the first, third and fifth years.
At the end of the first year, the applicants have to submit some documents to renew their visas. Biometric data and criminal records have to be updated and submitted to relevant authorities. As a result, investors extend their residence permits for another two years.
Applicants are required to fulfill the residence requirement of 14 days (per year) until the end of the third year. During the renewal process, the same procedure is followed and the visa is extended for another two years period.
At the end of the fifth year, applicants are earn the right to apply for a permanent residence permit.
Taxation in Portugal
When you utilize a Portuguese Golden Visa program you do not necessarily become a full tax payer of the Portuguese government. Residency and tax residency are rather different concepts to begin with. However, that does not mean that you will exempt of all taxes in Portugal.
For starters you will have to pay certain taxes about the investment you have done to get the Portuguese residency. Becoming a full tax resident can be achieved by simply spending at least 183 days in Portugal in a year, which means that you spend most of your time there making it your home in legal terms.
Moreover, as long as you have a house there you will have to pay taxes for it. Becoming a full tax payer may be lucrative for you though thanks to Portugal’s new non-habitual resident tax scheme. It may be wise to look up this program and to see if it works out for you or not.
Portugal’s Golden Visa is offered in accordance with the Ministry of Foreign Affairs through AICEP (Department of Consular Affairs and the Portuguese Trade and Investment Agency). The options of investment for the applicants are as they are listed below:
-Applicants may acquire property valued at €350,000 or more for properties more than 30 years old or located in urban regeneration areas designated for refurbishing
-Applicants may invest a minimum of €350,000 in research activities.
-Applicants may invest a minimum of €250,000 in the arts or in the reconstruction or refurbishment of national heritage projects.
-Applicants may invest a minimum of €500,000 for shares in investment funds or venture capital.Today, Portugal has a very important place in Europe when it comes to real estate investment. Especially the tax advantages provided to foreign investors make Portugal unique. With the Golden Visa program, investors can make a profitable investment and live in a developed European country. According to many known global indexes , Portugal's residency by investment program is one of the best in the market. Portugal attracts many investors with its friendly attitude towards foreigners and favorable living conditions. Portugal is high demand from investor all around the world and the Portuguese real estate market develops itself more and more every year.
Portugal Golden Visa Program erased all doubts, as the first batch of investors become Portuguese citizens. Being selected the top Golden Visa Program around the world countlessly, the first citizens of the program consolidate the success of the program.
Before the first citizens confirmed through the Portugal Golden Visa there was widespread speculation regarding the program. Investors were questioning if it is possible to become a Portuguese citizen through the Golden Visa without being a real resident. Now, the reports confirm that gaining the Portuguese passport through this citizenship by investment program is not a fairy tale.
IS IT POSSIBLE TO OBTAIN PORTUGUESE CITIZENSHIP WITHOUT BEING A REAL RESIDENT?
Portugal Golden Visa offers residence permit to individuals who make a substantial amount of investment into the country. Investors usually see Golden Visa as a step to get European citizenship. Until recently, Portuguese citizenship was required for its applicants a minimum one year hold of permanent residency. Also, permanent residence permit required a 5 year of legal residency.
According to the Portugal Golden Visa program, the residents receive a temporary residence permit for one year. In the first year, the residents have to spend a minimum of seven days in the country. Then, the residence permit is renewed to be valid for two year. After the third year of residence, the residence permit is renewed for two years for the second time. At the end of the fifth year, the Golden Visa holder becomes eligibile to obtain a permanent residence. This means that an investor could only apply for citizenship 6 years after their initial acceptance to the program.
After the recent amendments, any applicant with five years of legal residency qualifies for the citizenship application. Therefore, the outcome would only be clear after five years of the program’s beginning, which was in 2013. First applicants of Golden Visa Program were qualified to apply for Portuguese citizenship in 2018. They obtained Portuguese citizenship without being a real resident in the country. It was really important to clear there is no requirement of being tax-resident (minimum 183-day stay requirement) in Portugal to qualify for citizenship. Now is the time to erase all doubt.
COMPARING THE EASE OF PROCESSING
The doubt surrounding Portugal Golden Visa Program was the result of disappointing precedent examples. The UK had a similar program with demanding requirements for naturalization. The applicant must not have been absent from the country for more than 450 days during the five years of residency. In the final year of residency, the limit is 90 days. In addition, the applicant’s continued residence does not provide eligibility to their family members. Each member of the family is expected to fulfill their own requirements. Portugal Golden Visa Program grants permanent residence permits and the right to qualification for citizenship after five years of legal residence. However, the real difference is their period of physical residency which is just a minimum of 35 days in five years. Also, once the initial five years are complete, the applicants have the option to free themselves from these requirements, too. The citizenship by investment industry has all that it hoped for now that Portugal Golden Visa Program proved itself to be what it claimed. Now that the uncertainty and the doubts are all dispersed, the applicants can be relieved and new applicants can safely take action.
WHAT ARE THE REQUIREMENTS OF PORTUGAL GOLDEN VISA?
Portugal’s Golden Visa is offered in accordance with the Ministry of Foreign Affairs through AICEP (Department of Consular Affairs and the Portuguese Trade and Investment Agency). The options of investment for the applicants are as they are listed below: - Applicants may acquire property valued at €350,000 or more for properties more than 30 years old or located in urban regeneration areas designated for refurbishing - Applicants may invest a minimum of €350,000 in research activities. - Applicants may invest a minimum of €250,000 in the arts or in the reconstruction or refurbishment of national heritage projects. - Applicants may invest a minimum of €500,000 for shares in investment funds or venture capital. - The process of getting Portugal Golden Visa usually takes around 3 to 6 months.
The investors of Portugal Golden Visa are mainly from China, Brazil, Turkey, South Africa and Russia. The rising interest of Hong Kong investors is also seems to be long standing. Since the program came into effect in 2012, many investments have been made in Portugal, and it seems that the investments will continue in the upcoming periods. Although the program offers many investment options, real estate is the most preferred type of investment. The ongoing positive developments in the Portuguese real estate market can be explained through the success of the Golden Visa program. Portugal may also consider diversifying investment options in the future. Having a Portuguese residence permit also opens the doors to Europe. Thus, investors will gain almost all of the prestige and convenience that of EU citizens have. The right to visa-free travel in the Schengen region is one of the most attractive features of investors. In addition, real estate investment is regarded as the most reliable investment option among many investors. Investors can also apply for a Golden Visa by renovating buildings in Portugal that are older than 30 years.If the investors meet the conditions, they can become Portuguese citizens. Investors who are Portuguese citizens become citizens of a Mediterranean country that is a member of the European Union. Portugal is a developed country with a warm climate. Lisbon is a very popular city, home to many technology companies. Portugal attracts tourists from many countries of the world in summer and the country has beautiful beaches. You can apply for a Golden Visa to experience the privileges of living in Portugal.
Benefits of Portugal Golden Visa Program
Portugal Golden Visa Program is already a much decorated one constantly progressing since its inception in October 8th, 2012. The report of The Global Residence and Citizenship Programs 2017-2018, for the third consecutive time, ranked Portugal Golden Visa Program as the best residence by investment program around the world.