How to Get Portugal's Golden Visa? The Complete Investment Guide

The Golden Visa Program of Portugal has been one of the most renowned investment programs globally, especially in Europe.

It was first introduced in the year 2012. People in great numbers found the program very beneficial. Therefore, they have been moving towards Portugal with utmost interest and starting to settle down.

What is Portugal's Golden Visa program?

The Portugal Golden Visa Program is a residency program for five years permitted when a non-EU national does investment. This program is also known as the Residence Permit Program.

With this residence permit, a qualifying investor and his/her family members can live, work, and even study in Portugal. It also allows them free movements in Europe’s Schengen Area. Other than that, they can be eligible for citizenship after five years with minimal requirement of an average of seven days per year stay in Portugal over this period.

The validation of this program is for a period of one year after issue and renewable for two following periods of two years. It requires at least four trips to Portugal during the five-year period – two times during the starting period and at each renewal (First and the third year). Initially, the visit is to choose the investment option, start the legal process, and provide the necessary data.

Who is eligible for the visa?

Anyone EXCEPT Portuguese and EU/EFTA citizens can apply for this Golden Visa. They have to complete a suitable investment in Portugal and maintain it for a minimum period of five years. 

For this investment, the investors have the choice to proceed as an individual. And also, they can take help from a legal organization. No matter what option they choose, they need to meet undeniable requirements to qualify.

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The complete guide for the Golden Visa application

There are few steps to proceed with the application –

• When you are ready for the investment, you have to collect the paperwork. It is for yourself and any dependents you’ll be including in the application.
• Next, you have to obtain the tax identification number (NIF) for Portugal. For this, a fiscal representative can be appointed to help you.
• After obtaining your NIF, a bank account needs to be opened. 
• Taking help from an agency is helpful. You can take help from them for securing your investment. They will provide proper guidelines through the necessary paperwork that can secure a successful investment.
• You have to pay visits to biometric data collections from time to time. It takes about two months from the time you book your interview till you can attend a biometrics collection session in person.
• The SEF will approve your Golden Visa after four months.
• You will have to pay the government permit issue fee. And lastly, you will get the residence cards.

The investment options for the visa are –

• Transferring of the capital of at least €1 million.
• Purchasing property for sale in Portugal. It can be done via the Portugal Golden Visa real estate investment route of €500K in Real Estate.
• Creating 10 new jobs for a Portuguese business or single-member company.
• €350K in real estate for the rehabilitation projects.
• €250K into preserving national heritage.
• €350K in an existing Portuguese business.
• At least €350K in research.
• A minimum of €350K into private equity funds.

Nevertheless, amounts are reduced for investments in low-density areas.

POINT TO BE NOTED:

Due to the COVID-19 pandemic, some changes are being made towards the Portugal Golden Visa. This will be executed from 1 January 2022.

• The minimum investment fund amount option will increase for qualifying – from €350,000 to €500,000.
• The capital transfer amount option will change from €1 million to €1.5 million.
• There will be new real estate investment restrictions.
• About the property investment route, only property acquisition worth €280K and above, and investment in rehabilitation projects worth €350K and above in Portugal’s interior territories, Azores and Madeira, will be accepted.
• The current Portugal Golden Visa scheme will be implemented until the end of 2021.

Basically, the golden visa application is relatively straightforward. You need to grip the procedure, get going with the requirements, and voila!

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