WHAT IS A GOLDEN VISA IN PORTUGAL?

Golden Visa Scheme for Portugal is a scheme that grants residency to individuals who are looking to get residency in Portugal and gives them the option of after 5 years of residency to apply for the Portuguese Passport as well. It is one of the most popular and attractive programs in the world and since its creation in 2012, over 10,000 investors and over 18,000 family members have benefited from the Golden Visa bringing over 6 billion Euros into the country.

 

WHAT ARE THE BENEFITS OF OBTAINING A GOLDEN VISA?

There are a plethora of benefits associated with the Golden Visa including the below:

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Access to Live, Study and Work in Portugal: Ability to live and work in Portugal - a safe EU country with affordable living costs, wonderful climate, good infrastructure and a high quality of life.

Visa- Free Travel in Schengen Area: Visa free access and travel throughout the Schengen area which includes 27 EU Countries.

Not a Donation, but an Investment in a Stable European Economy: Portugal is not asking investors to donate money but to make an investment in a promising economy obtaining competitive returns on their investments, while also getting the residency and consequently option for EU citizenship as a bonus.

Resident Benefits: If applicants and their family do decide to reside in Portugal, they have the ability to apply for free public services such as healthcare and education. Additionally, there is a qualification for citizenship of newborns when one of the parents has valid residency for a minimum of 1 year and the birth occurs in Portugal.

Favourable Tax Scheme: For non-tax residents, global income is not taxable (only income derived in Portugal). For tax residents, there is a very beneficial tax regime (non-habitual residency) exempting many of the resident’s income for up to 10 years.

Low Stay Requirements: Applicants do not need to live in Portugal - all that is needed is to stay in the country for 14 consecutive or non-consecutive days in every 2 years.

Multiple and Affordable Investment Options: Choice of various investment options with the minimum requirement from €250,000.

Family Reunification: Also grants privileges for investor’s family members. The program includes family reunification, meaning that a spouse, dependent children and dependent parents can be included. They can all live and work in Portugal and travel freely within the Schengen area, as well as enjoy all the visas’ benefits.

Path to EU Citizenship: Option to apply for Portuguese Citizenship after the fifth year while still keeping other citizenship(s). If the applicant and his family become Portuguese citizens, they are then EU citizens giving them multiple benefits such as allowing them to live, work and study anywhere in the EU and travel to over 180 countries visa free!

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WITH THE PORTUGAL GOLDEN VISA ARE YOU ALLOWED TO LIVE AND WORK IN ANY EU COUNTRY?

Yes, the Portugal Golden Visa you are allowed to work and live in Portugal an to travel freely through the EU countries. However, in the future, if you decide to proceed with the application and obtainment of the Portugal Passport after having the Golden Visa for 5 years, you will then be able to live and work freely throughout the EU.

 

WHAT ARE THE REQUIREMENTS IN ORDER FOR ME TO OBTAIN A GOLDEN VISA?

You have to be either non-EU, non-Swiss, or non-EEA, have a clean criminal record certificate from the Country of origin and from the country of official residence and make an eligible investment in Portugal under the Portuguese Golden Visa program, with funds transferred from outside of Portugal. There are no age, education, work skill or income requirements.

 

WHAT DO I NEED TO DO TO KEEP THE GOLDEN VISA?

In order to keep the Golden Visa you need to visit Portugal for a minimum of 14 days, consecutive or non-consecutive every 2 years and keep your qualifying investment throughout the entire period.

 

DO I HAVE TO RESIDE IN PORTUGAL TO KEEP MY RESIDENCY?

The Portugal Visa is subject to renewal at the end of the 2nd, 4th and 6th year period. As long as you stay a minimum of 14 days in each two-year period you do not have to live in Portugal to maintain your visa.

 

DO I HAVE TO KNOW PORTUGUESE TO APPLY FOR A GOLDEN VISA?

No, there is no language requirement to apply for the Golden Visa. You will need to the A2 basic Portuguese language knowledge in order to apply for the Portuguese Citizenship or Portuguese Permanent Residency after the fifth year. 

 

CAN I INCLUDE MY FAMILY MEMBERS IN MY GOLDEN VISA APPLICATION?

Yes, under the act of family reunification, the main Portugal Golden visa applicant can include their family within the Portuguese residency program. These include the applicant’s spouse or legal partner, minor children under 18 years old and children over 18 years old but who are single, enrolled as full-time students and can demonstrate that they are financially dependent on their parents. Additionally, the application can also include parents of either spouse if over the age of 66 (or over the age of 55 and dependent) as well as siblings under the age of 18 and the applicant or their spouse are their legal guardians as determined by the courts.

 

WHAT ARE THE GOVERNMENT COSTS ASSOCIATED WITH APPLYING FOR THE GOLDEN VISA?

At the moment the government costs for each applicant are paid in two stages, the first amount is paid when you apply as an initial application processing fee which is €539.66 per applicant and if the Golden Visa is approved the second amount is paid which is €5,391.56 per applicant. In year 2 and year 4 when the visa is renewed, each time there are two costs – the initial application processing fee which remains at €539.66 per applicant and the renewal fee which is € 2,696.29 per applicant. Please note that these fee amounts are updated yearly by the Portuguese authorities.

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I HAVE A CHILD THAT IS 16 YEARS OLD, WILL THEY LOSE THE RESIDENCY ONCE THEY BECOME 18?

As long as the child is single, enrolled as full-time students and can show that they are financially dependent on their parents they will not lose the residency. If however, the child will start to work they will lose the residency as they will no longer be financially dependent on the applicant.

 

HOW LONG DOES IT TAKE TO GET RESIDENCY IN PORTUGAL?

The time frames differ accordingly to several factors including how fast the documents are provided to the Portuguese lawyers, what is your and your family’s availability to come to Portugal to submit your biometric data, the number of applications that are pending in the Portuguese authorities. On average, from the start of the process it takes around 12 to 16 months for the process (especially due to the backlog of COVID), however, the Portuguese authorities are working in order to reduce this time to around 8 months. We do our best to make the process as smooth and as efficient as possible.

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WHAT OPTIONS DO I HAVE FOR INVESTING IN PORTUGAL?

The Portuguese Golden Visa offers a variety of investment options, such as investing in funds or science and research activities in Portugal. Additionally, you can also qualify by creating jobs by investing or stating a business or by depositing a minimum amount of funds into a bank account in Portugal.

 

UNTIL WHEN DO I HAVE TO KEEP MY INVESTMENT IN PORTUGAL?

For as long as you want to keep the Golden Visa you will need to keep your investment. After the 5th year if you apply and receive either the Portuguese Citizenship or the Portuguese Permanent Residency Permit you will no longer need to keep your investment.

 

WHAT IS THE SEF AGENCY?

The Portuguese Immigration and Border Service (SEF) is the agency which is responsible for evaluating and issuing the Golden Visa Applications.

 

I’M BRITISH, CAN I APPLY FOR A GOLDEN VISA FOR PORTUGAL?

Yes, you can. British citizens can apply for Portugal Golden Visa program since post-Brexit. This is very popular with British citizens as it allows then to travel freely within the Schengen Area and after 5 years, apply for the Portuguese passport which will then give them back all the benefits of owning an EU passport.

 

ARE AMERICANS ELIGIBLE TO APPLY FOR PORTUGAL GOLDEN VISA PROGRAMME?

Yes, they are. Americans are welcome to apply.

 

DO I HAVE TO PAY TAXES IF I DON’T LIVE IN PORTUGAL?

In general, if you spend less than half of the year in Portugal you are considered a non-tax resident and are therefore only taxed on your income derived in Portugal. If you do decide to live in Portugal, there are very beneficial tax options such as the non-habitual resident of Portugal which in general may exempt you from paying taxes on your worldwide income in Portugal for up to 10 years.

 

DOES PORTUGAL HAVE FREE HEALTHCARE?

If you are going to be living in Portugal, you can take advantage of its strong National Health Service called SNS. Once you have your visa, you can register with the SNS, obtain a healthcare number and thus giving access you to the public healthcare. A lot of the services are free, however, there are certain services which require small payments. Apart from the SNS, Portugal also have private hospitals with private insurance as well. As a general rule, private health insurance prices usually range from around €300 to €1,000 a year, depending on personal factors such as your age etc.

 

DOES PORTUGAL ACCEPT DUAL CITIZENSHIP?

Yes, you can keep your Portuguese citizenship as well as your original citizenship.

 

HOW LONG DO I HAVE TO KEEP MY GOLDEN VISA FOR BEFORE APPLYING FOR CITIZENSHIP?

At the end of the 5th year of having the Golden Visa, you are allowed to choose between 3 options, to renew your golden visa for another two years, to apply for Portuguese Citizenship or to apply for Permanent Residency in Portugal. If you choose to apply for the citizenship you will have to meet certain criteria including an A2 level Portuguese language test which includes the basic understanding of the Portuguese language, prove that you have links to the country such as through your investment, have no criminal record etc.