The Portugal Golden Visa is the most popular program in Europe. The investment can be made through many different routes. In fact, since foreigners do not need to reside in Portugal for more than seven days per year during the first five years, or 14 days in a block of 2 years, this is one of the best choices for people who want to obtain residency not move to Portugal.
Portugal’s citizenship by investment program is a residency-by-investment program, where investors and their dependents can become Portuguese citizens at the end of 5 years. It remains at the Investor’s discretion to obtain permanent residency in Portugal or citizenship in Portugal after the completion of 5 years.
It is a fast-track process for obtaining permanent residence and citizenship in an EU country – via the Golden Visa. For example, you can become eligible for Portuguese citizenship in five years.
In return for investing in Portugal, more than five years ago, investors are allowed to live and work in Portugal and travel visa-free to the EU Schengen area. Portugal is a full member of the European Union. Once they become Portuguese citizens, they can live and work in any EU country and enjoy the same rights as any EU citizen.
Requirements of the Golden Visa Program
The Golden Visa for Portugal is a great way to get residency in Europe. It can offer benefits, like the ability to invest in property and travel to European countries, where it might not be easy otherwise. Some of the benefits of Portuguese citizenship are:
Ability to Live and Work in an EU Country
The Golden Visa grants you residence in Portugal, a member of the European Union. If you’re granted Portuguese nationality, you will have access to all the benefits of being an EU citizen-no borders, access to the single market, and life in a stable, democratic society.
The EU businesses have access to the free movement of goods, labor, and services. That alone provides ample opportunity for companies to expand.
Access to Portuguese Healthcare and Education
If you are a Portuguese resident or citizen, you and your family will access all national services such as healthcare and education. The public-funded healthcare system in Portugal, the Serviço Nacional de Saúde (SNS), was ranked third in 2021 by the World Index of Healthcare Innovation for its excellent patient care and medical infrastructure.
Portuguese have access to quality public education. The literacy rate is 99.44, and when it comes to PISA tests, the Portuguese do better than average. Public education across all grades is available, and the quality is high for students.
Lowest Costs of Living in Western Europe
Portugal has a low cost of living without sacrificing the high quality of life that many people are looking for. The country has very affordable food and wages yet provides high-quality education and healthcare. Technically, you can live comfortably in Portugal for around USD 1,400 per month, although the living costs depend primarily on the selected lifestyle.
Portugal is consistently ranked as one of the best destinations for ex-pats. Seeing as it made it to number five on the Expat Insider 2021 survey, Portugal is a great place to live.
Visa-Free Travel to Europe
A Portuguese Golden Visa makes it easier for eligible people to travel around European Union countries without a visa. In many cases, non-Schengen countries will allow people with a Portuguese Golden Visa to enter the country without a visa as long as they have a passport or residency permit.
Portuguese Passport in as Little as Five Years
Five years after investing in Portugal, you can obtain a Portuguese passport with the same rights as any other EU citizen. Although this is not instant, it’s much shorter than the citizenship and residency restrictions in many other countries.
A Portuguese passport will allow you to live and work anywhere in the European Union. It lets you visit over 150 other countries without needing a visa first.
Requirements of the Golden Visa Program
- Qualifying investment to be held for at least five years
- Obtain a Portuguese tax number (NIF) and open a Portuguese bank account
- Provide KYC documents and proof of funds.
- No criminal records or police clearance certificate for all adult applicants
- All applicants under the program to stay at least seven days per year (or 14 days in a block of 2 years) during the initial five years.
- At the end of 5 years, the Investor has the option to obtain permanent residency or citizenship.
- A language test (A2 level proficiency – beginner level) is necessary to obtain citizenship, not required for temporary residence. There are exemptions to this requirement.
What Family Members Can Apply for a Portugal Golden Visa?
You can include the following family members in your application for a Portuguese Golden Visa:
- Your spouse or partner.
- Children under the age of 18.
- Children over the age of 18 who are dependent on you financially. Adult children must be enrolled in full-time education and unmarried to qualify as dependents.
- Siblings under the age of 18 of either yourself or your spouse/partner. For siblings to qualify as dependents, you or your partner must have legal custody.
- Dependent parents (over the age of 55) of either you or your spouse/partner. You must provide documents proving their dependency unless they are older than 65.
- Any family member included in your application will receive a Portuguese residence permit card and enjoy the same rights and privileges as you.
Portugal Golden Visa in 2022.
Starting 1 January 2022, changes are coming to the Portugal Golden Visa. Here’s a rundown of what will be different.
Changes to the Portugal Golden Visa rules from 2022
- Acquisition of residential properties or investment into the rehabilitation of residential projects in popular urban cities of Lisbon Euro 500,000, commercial property Euro 350,000, and Porto and Algarve Euro 280,000 assets under the Golden Visa program.
- Minimum investment in eligible investment funds or venture capital funds increases to EUR 500,000 from EUR 350,000 earlier.
- Minimum capital transfer into a Portuguese bank account increases to EUR 1.5 million from EUR 1 million earlier.
How to start the process
To begin your journey to obtaining a golden visa for Portugal, contact us today to book a free, comprehensive consultation with one of our Residency by Investment program experts.