How To Get Portugal Golden Visa: Requirements, Process & Costs

Portugal!

One of the most beautiful countries in Southern Europe which is filled with stunning landscapes, beautiful weather, pristine beaches and a rich history.

Economically they have faced quite some challenges in the past and it had some ups and downs. However, the government is working hard to change the economy. According to Reuters their economy grew 6.7% in 2022 which is the strongest in 35 years. The flourishing economy is now attracting investors from all around the world. 

But have you ever thought about investing your money to get residency in the country?  Can you get citizenship of portugal via investment options?

Yes, you can!

With a very affordable investment option, you can get permanent residency in Portugal. This investment immigration option is called the Golden Visa Program. It will allow you to become a resident and subsequently a citizen of Portugal in just 5 years. As an investor, your family will enjoy the same benefit. All you have to do is to stay at least 7 days a year in the country.

What is Portugal Golden Visa

Portugal Golden Visa program started in 2012, this is a government-run program to attract investors from non-EU countries who are willing to invest a certain amount of money in exchange for permanent residentship and subsequent citizenship. The main goal was to boost the economy and get a lot of foreign investors.

According to Portugal Golden Visa Statistics, until now approximately 12,718 main applicants have been granted Portugal Golden Visa. 

This program has become famous because it’s easy to apply and there are many investment options to choose from. 

The investor will receive a temporary residence permit which can be renewed as long as you maintain the requirements. Meanwhile the investor and his family can reside in Portugal legally and enjoy various benefits. 

The first card is normally issued for 2 years, and the second card is for 3 years. After this step, you can apply for permanent residence and subsequently citizenship.

Benefit of Golden Visa in Portugal

There is a reason why investors are very eager to apply for a golden visa in portugal. Good healthcare, education, affordably, cost of living is relatively cheaper than many countries, not to mention how beautiful this country is!

• You will get access to roam around the Schengen area. As well as get additional travel benefits to other countries.
• Investment options start from  €250,000.
• You don’t have to stay in Portugal for a long time, only 7 days a year is enough.
• You can live, work or study in Portugal.
• Your family can accompany you and enjoy the same benefits as you. 
• You can get Portuguese citizenship within 5 years, this is the quickest citizenship process in the entire Europe. 
• You do not have to pay tax on your income outside of Portugal. 
• Portugal is a safe country with fewer criminal activities, good weather, and a high standard of living.
• The education system of Portugal is better. They uphold the European standard of education. The University of Lisbon ranked at 202
• Portugal is much more affordable than the USA, UK, or other European countries. 
• You can get access to high-quality healthcare. Citizens and permanent residents enjoy free healthcare. The World Health Organization ranked this country 12th place in world healthcare systems.

Portugal Golden Visa Requirements

Now that you know all the benefits, does it convince you enough to apply? 

To apply for this investor immigrant program firstly you need to know whether are you eligible to apply or not! There are a few conditions which need to be met. 

• You need to be over 18 years old.
• No prior criminal record.
• You have to be from non-EU countries. 
• Minimum investment of 250,000 euros ( there are multiple investment routes to choose from). 
• You have to spend at least 7 days each year in Portugal. 
• Money investment will have to be outside of Portugal. No debt in Portugal either. 
• You have to make a clear statement about the legality of your income. 

Since the UK is not a part of the EU anymore, the citizens of the UK will be treated the same as non-EU countries. Therefore they can apply for this program. USA citizens can also apply for this program. 

The investor’s family will enjoy the same benefits as the investor. Investor’s spouse, children under 18 or financially dependent children over 18, parents under the age of 65 can enjoy the opportunity of being a resident of Portugal. 

Portugal Golden Visa Investment Options

As we mentioned before you have to invest a minimum of  2,50,000 euros and you can choose which investment option is suitable for you. Let’s discuss each investment options.

1. You can subscribe to the minimum amount of €500k in a qualified Portuguese investment fund.
2. You can start a company and create at least 10 full-time jobs. Or you can invest a minimum amount of €500k into an existing company in Portugal. This company must create five full-time jobs at least for three years.
3. You can donate at least  €250,000 to preserve the national cultural heritage or arts.
4. You can contribute at least €500k in science and technology research.

There were other two investment options like real estate and capital transfer which are no longer eligible. Real estate investment option was wildly popular but in the year 2023 in October a new law was passed. The law states that you can no longer invest in real estate property or anything related to real estate funds .

Portugal Golden Visa Document Requirements

Every visa application requires tons of paperwork, the process might be tiring but it’s the most important step in any visa application. you must be wondering now which documents are needed to complete the golden visa application process? So let’s take a look! 

• A valid passport with at least 6 months validity. 
• Official Portuguese visa form which will be downloaded from the visa portal.
• Two passport-size pictures.
• Health insurance documents.
• A certificate which will prove that you do not have any criminal records.  
• your tax ID number from your home country or country of residence.
• payment receipt from the ARI portal. It is crucial. 
• Proof that you fulfilled your investment requirements. Depending on your investment route the documents can vary like certificates of share capital increase, or evidence of business creation etc.
• evidence of compliance with tax and social security obligations
• Documents which will support that you are committed to maintaining your investment for 5 years which may include your bank statement, employment contracts of job creations. 

Portugal Golden Visa Fees 

This visa program is controlled by the Portuguese government. So you need to pay fees during the application process. 

The initial application fee is €773 per person and you have to pay this amount during each renewal. After your application is approved you then need to pay €7,730, it is known as the resident permit fee. During each renewal you have to pay €3865. 

All these fees are meant for each person, it does not include your family. 

If you are planning to hire a Golden visa lawyer then you need to pay their fee as well. Fees can be between €1000 to €3000.

Portugal Golden Visa Step-by-Step Process

Now that you know if you are eligible to apply and how much you have to invest, let’s talk about the step-by-step process!

Unlike many other visa processes the golden visa in Portugal is relatively easier. If you follow the steps properly then you will have a smooth and successful application process. The necessary steps include investment, legal procedure, document submission, and many more. Let’s discuss it in detail. 

1. Step one- choose your investment program, find out which one is suitable for you. Keep in mind that you have to maintain this investment for at least five years. You can consult with a Portuguese golden visa lawyer or any Portuguese law firm. You can do it by yourself but you are bound to make mistakes which can cost you a rejection. 
2. Step two- you need to collect all the important documents which need to be submitted, which we already discussed above. Your lawyer will let you know if you missed any documents or not.  
3. Step three- you need to get a Portuguese tax identification number which is known as NIF.  After that you have to open a bank account.
4. Step four- now you have to finalize your investment and complete the necessary paperwork. You can do it yourself or you can hire a golden visa lawyer who will help you. 
5. Step five- now that you completed your investment it’s time to submit your application to SEF online. It may take around 60 days from the submission of your papers to your appointment date.
6. Step six- you will get a date for your biometric visit, your family will have to attend the appointment on the chosen date as well. 
7. Step seven- it can take around 6 months to get your golden visa approved. After that you will get your residence card.
8. Step eight- after 5 years you can apply for citizenship.

Congratulations now you have your residence card which is valid for two years, it can be renewed after two years. 

Portugal Golden Visa Renewal and Permanent Residency /Citizenship

Now that your residence card is valid, you have to renew it for another two years. 4th year of residence you need to renew it again. At the end of the fifth year, you need to decide whether you want permanent residentship or citizenship. You can even continue with the temporary residence program too. The choice is yours to make. 

But as a permanent resident, you no longer have to maintain investment. But keep that in mind each year you have to reside at least 7 days per year. Try to renew your card at least 30 to 90 days before the expiration date. After you receive your citizenship you can apply for a Portuguese passport for you and your family. 

Frequently Asked Questions – FAQ

Can a UK resident apply for a Portugal Golden Visa?

Yes, they can apply for the Portugal Golden Visa, since the UK is no longer part of the European Union, it will be treated as a non-EU country. 

Who is eligible to apply for the Portugal Golden Visa? 

Any non-EU resident who is over 18, without any criminal record who is willing to invest at least  €250,000 is eligible for Portugal Golden Visa

Can family members of the main applicant also benefit from the Golden Visa?

Yes, they will get the same benefits as the main applicant.

How long does it take to process a Portugal Golden Visa application?

Portugal Golden Visa can take around 6-9 months for the visa to process.

Can investors’ families work or study in Portugal?

Yes, they can study, work, and live freely in Portugal. They can even study in any EU country as well. 

How long is the initial temporary residence permit granted under the Golden Visa program?

Initially, the resident card will be valid for two years. 

Is Portugal closing its golden visa?

No, it is not closing, however, they closed the Real estate investment option in October 2023, as well as fund transfer options. 

How many countries can I travel with Portugal’s PR?

You can travel to any EU country and around 177 countries without a visa.

Are Loans Allowed for the Golden Visa Investment in Portugal?

You can take a loan outside of Portugal for the investment but you can not take any loans in portugal.