Obtain Portuguese Golden Visa

Updated on Wednesday 03rd July 2019

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The Portuguese golden visa is a manner of acquiring residency in the country (and in some cases even citizenship) through investments in real estate for third-country nationals. Initially launched as a program to encourage foreign investors to seek opportunities in the country, it has been largely popular and receives significant applications every year.

Individuals who wish to obtain a Portuguese golden visa can reach out to one of our Portugal immigration agents for complete details as well as assistance during the application procedure.
 

What are the conditions for obtaining the golden visa?


The conditions for those interested in obtaining a Portuguese golden visa is to invest in real estate, irrespective of its nature (commercial or residential). The owner can then rent the property as needed and obtaining a mortgage is also possible in some conditions.
 

What is the real estate investment amount?


The minimum real estate investment under this program is 500,000 euros and a smaller investment of 350,000 euros is possible when the property that is acquired will also go through a renovation and it is located in an urban regeneration area. The amount can also be reduced to 400,000 euros when the investment is made in a low-density territory (understood as a location with less than 100 inhabitants per square kilometer or with the PIB per capita of less than 75% of the country average). 

Because the investment amount can vary according to the region in which the property is located, it is often useful to explore the available options. Investors are advised to carefully consider their options and talk to a constructor or a real estate consultant when evaluating their options and moving to Portugal.
 

How can one apply for a golden visa in Portugal?


The applicant is required to first make the investment in real estate and then apply for the golden visa. This may take some time as securing the property purchase can take between one month and even three months in some cases. The applicant will also need to provide adequate documentation to prove that he has no criminal record and also provide proof that he has medical insurance in the country.
 
The required documents are as follows:
 
  • passport or another valid travel document;
  • evidence of health insurance;
  • criminal record extract from the country of origin;
  • tax identification number evidence;
  • authorization for the consultation of the Portuguese Criminal record;
  • statement of compliance with the time and amount requirements;
  • tax obligation fulfillment proof (negative debt declaration).
 
Part of the required documents will be mandatory for proving the investment. Investors should be aware of the following:
 
  • Natural or legal person investment: the investment can be made (in part or in full) through a limited liability company in which the applicant is a shareholder.
  • Proof of investment: pre-contract agreement or the real estate deed and the legal description of the real estate, if applicable.
  • Proof of international transfer: a declaration from the credit institution attesting the transfer of assets for the real estate payment.
  • Certificates: the land register certificate with the attached documents, proving the ownership of the real estate. 
 
A mandatory online pre-registration is required. 


How does one acquire residency through the golden visa program?


When entering into the golden visa program, the applicant can apply for permanent residency after five years without having to reside in Portugal. The conditions are much more flexible than for those who would wish to acquire residency through conventional methods. When using a golden visa, the applicant and the families need to come to Portugal for less than one month every two years in order to renew the golden visa. An immigration lawyer in Portugal who works in our team can give you more details.

The permanent residence permit for investment purposes, including investments in real estate, is subject to case analysis and it is regulated by amendments to a special ordinance. One of our immigration lawyers in Portugal can provide investors with complete details about the legal framework governing this type of visa. Certain fees apply for the issuance of the residence permit for investment activities, and they are approximately 5,000 euros for the initial issuance. Other fees apply for the renewal of the investment activity residence permit as well as for the residence permit for the family members (separate fees are payable by the holder and by the family members).
 

Additional information about Portugal immigration

 
The residence permit for investment purposes or the ARI/Golden Visa is one that is granted to third-country nationals who conduct investment activity. This activity is not necessarily linked to investments in real estate. Other possibilities are as follows:
 
  • capital transfers with a minimum amount of 1 million euros;
  • the creation of at least ten job openings;
  • capital transfer of at least 350,000 euros in research activities;
  • capital transfer of at least 250,000 euros for supporting the arts, the reconstruction of national heritage, public foundations, artistic activities, and others;
  • capital transfers of at least 350,000 euros for acquiring units in investment funds or venture capital funds (subject to certain conditions) or for the formation of a corporate entity with the head office in the country, plus the creation of five permanent jobs.
 
The Portuguese golden visa scheme is one that attracts many investors and owns its popularity due to its flexibility. Portugal is the country of immigration of choice for many foreign nationals, because of its climate and affordable quality of life. 
 
Some of the data available on the golden residence permit program is as follows:
 
  • 1009 permits issued in 2018;
  • 1810 permits issued in 2018 for family reunification purposes under this scheme;
  • 3952 permits issued to immigrants from China, followed by 590 for immigrants from Brazil; the following countries are South Africa, Turkey, and Russia.
 
The list below presents statistics regarding the country of origin of immigrants (in general), as stated by the Organization for Economic Co-operation and Development (OECD):
 
  • 8,273,296 individuals born in a country within Europe;
  • 10,391 people born in North America;
  • 15,689 born in Asia;
  • 332,393 individuals born in Africa.
 
According to the duration of stay, the statistics, also issued by OECD, are the following for Portugal:
  • more than 10 years of stay, 280,154 individuals from all countries of birth;
  • between 5 and 10 years, 59,067 individuals.
 
The data is for both men and women and for all levels of education. The data was extracted for 2019.
 
Foreign nationals who wish to know more about the Portugal immigration policy can reach out to our agents. We can provide complete information about the types of visas, including the golden visa, as well as guide investors throughout the application process. Entrepreneurs who are planning on making a significant investment in Portugal can reach out to us for an initial consultation regarding the nature of the planned investment and whether or not it is acceptable for obtaining a residence permit for investment purposes.

 For more information, we invite you to contact us.

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