PORTUGUESE GOLDEN VISA: 10 MOST POPULAR QUESTIONS

Currently, the Portuguese Golden Visa program is gradually becoming popular, especially for non-EU citizens who want to invest in Portuguese real estate.

In 2012, the Portuguese Golden Visa program was officially introduced by the government and made a great impression. Specifically, in June 2020, the program has reached a total investment of up to 5.2 billion euros and is a strong motivation for real estate investors around the world.

The following article will answer the 10 most common questions about the Portuguese Golden Visa program for investors.

QUESTION 1: WHAT IS THE GOLDEN VISA PROGRAM?

The Portuguese Golden Visa Program is a government program that provides the opportunity for citizens of non-EU countries to reside and naturalize in Portugal when they have invested in Portuguese assets.

The Portuguese Border and Immigration Agency, Servico de Estrangeiros e Fronteiras (SEF) are the units that administer the Golden Visa program and has helped Portugal generate a huge source of foreign investment.

QUESTION 2: WHO CAN JOIN THE PROGRAM?

To participate in the Golden Visa program, investors must be non-EU citizens. Since its launch in 2012, the program has mainly attracted foreign real estate investors, skilled professionals and retirees.

QUESTION 3: HOW TO ELIGIBLE FOR THE GOLDEN VISA PROGRAM

To be eligible for a golden visa, an investor must meet one of the following three main criteria:

• Invest €500,000 in residential or commercial real estate in Portugal. Any number of properties can combine to form a minimum investment of €500,000 and that property can be rented for income.
• Transfer over €1,000,000 to a bank in Portugal
• Create at least 10 jobs in Portugal

In some cases, people who are investing in small and medium-sized businesses, or in the arts and culture or scientific research sectors also may be eligible but the vast majority (90%) will get their visa through real estate investment.

QUESTION 4: ARE THERE ANY EXCEPTION CASES?

In some cases, investors can still purchase properties valued at €350,000 if the property is over 35 years old, is located in specific regeneration zones and requires renovation. If an investor decides to pursue this path, it is important to seek legal advice first.

QUESTION 5: REQUIREMENTS TO JOIN THE PORTUGUESE IMMIGRATION PROGRAM

The Golden Visa program requires investors to maintain their investment for 5 years and comply with the required minimum length of stay during this time. In addition, investors need to apply for a health insurance card to stay in the country and have a clean record.

QUESTION 6: REASONS TO CHOOSE THE PORTUGUESE GOLDEN VISA PROGRAM

The Portuguese Golden Visa program is gradually gaining popularity for the following reasons:

• Quick application procedure, only 3-6 months
• Can accompany the whole family (including 3 generations) to immigrate
• Freedom to travel, live and work throughout the 26 Schengen countries
• Exemption from foreign income tax if residing for less than 183 days in each Portuguese tax year

QUESTION 7: HOW LONG WILL THE PORTUGUESE GOLDEN VISA BE VALID?

The visa is valid for one year and then renewed every two years. After 5-6 years, investors can apply for permanent residency and for citizenship as well.

QUESTION 8: MANDATORY REQUIREMENTS TO PARTICIPATE IN PORTUGAL IMMIGRATION PROGRAM

To keep the visa valid, the holder must spend at least 7 days in Portugal during the first year of program registration and 2 weeks in Portugal every two years thereafter. Once applying for permanent residency, the investor must pass a basic language test.

QUESTION 9: WHAT IS THE REGISTRATION DOCUMENT INCLUDED?

Application documents for the Golden Visa program include:

• Passport (valid for at least 3 months)
• Valid Schengen visa or short-stay visa
• Proof of health insurance
• Signed Judicial Record Certificate
• A signed affidavit certified by the applicant to comply with tax and social security requirements
• Make and maintain a qualifying investment for a minimum of 5 years
• Receipt showing Golden Visa fee paid

QUESTION 10: TIME FOR COMPLETION OF DOCUMENTS

Once a qualifying Portuguese property has been purchased and the paperwork is filed, the investor should be able to get a visa for at least 3 months and be subject to any issues incurred if any.

CONCLUSION

For more information about the Portuguese Golden Visa program or other investment programs, please contact Portico & Bridge for detailed support.

With more than 35 years of experience, Portico & Bridge is a leading consultant in the field of overseas real estate. With a team of more than 50 professionals from around the world, we are always happy to assist you.

Call us now at 0909.898.758.

At PORTICO & BRIDGE, “Your Children, We Care”.