Applying for the Portuguese Golden Visa Programme
The Golden Visa programme offers unique opportunities for investors looking for European residency. Portugal is an attractive EU country and offers a Golden Visa entry to attract overseas investment.
Today we'll explain a little more about how the Portugal Golden Visa programme works and the benefits available.
The Portugal Golden Visa Scheme
Multiple opportunities make a Portuguese residency permit a valued asset. Residents can live, work and study in this prosperous nation, enjoying high living standards and quality education.
Residence holders may travel visa-free throughout the Schengen Zone.
Even during the pandemic, demand for Portuguese residency has not diminished. Applications are predicted to be up by 10.5% in 2021 from the previous year.
Investments in Portuguese real estate start from €280,000, with a three-month processing time. There are conditions, but these are not complex and simply require investors to stay in Portugal for seven days in year one and 14 days for every subsequent two year period.
Benefits of Portugal Residency Status
Advantages to holding Portuguese residency include:
- Secure European residency status.
- Options to add a spouse, children and parents to the application.
- Freedom of movement in the Schengen area and beyond.
- Tax optimisation opportunities through the NHR scheme
- The possibility to rent out investment properties and earn a revenue stream.
- Immigration laws are flexible, requiring residents to remain in the country for one week in the first year and two weeks for each following two year period.
- After five years of residency, holders may apply for permanent residence and EU citizenship.
- The climate in Portugal is enviable, with warm winters and cool summers.
- Living standards are high, with low crime rates.
Eligibility Conditions for the Portuguese Golden Visa
There are three ways to qualify for a Portuguese residency permit through investment.
The most popular option is to purchase real estate worth between €280,000 and €500,000. That minimum value depends on the location, age and condition of the property.
Other routes include a €1 million investment into the economy, business creation with at least ten jobs, or a €350,000 business investment, leading to five new jobs.
The investment must be maintained for five years from the date of residency to remain compliant.
Obtaining a Residence Permit in Portugal Via Real Estate Investment
The process of securing a Portugal residence permit through real estate investment varies.
Property can be residential or commercial, with a minimum value of €500,000. However, properties in low GDP areas or with low population density permit a lower investment of €400,000.
Real estate over 30 years old and requiring renovation has a lower threshold of €300,000. If that same renovation property is in a low GDP or population area, the investment requirement drops further to €280,000.
Golden Visa applicants must meet all of the following criteria:
- Over 18 with no criminal record
- Able to travel to Portugal for seven days per year
- Have evidence of the source of their funds
Investors can add their spouse, children and parents to the residency application, provided this meets these conditions:
- Children can be minors or those under 26 with financial dependence living permanently with the principal applicant.
- Parents and spouses' parents must be over 65.
- The spouse must be legally married to the applicant.
Note that there are no language skill requirements or testing to secure a residence permit.
How to Apply for a Portugal Golden Visa
As the leading immigration expert worldwide, Astons offers complete support securing a Portuguese Golden Visa in just 90 days.
Our consultants manage the entire process, from preparing and submitting your application to ensuring your residency card is safely delivered.
The process starts with a private consultation, where we'll discuss your aspirations and advise on the most suitable investment options.
From there, we move forward to document preparation and registering the investment in due course. You will need to travel to Portugal to submit biometric data, and Astons will then manage the SEF organisation application on your behalf.
Initial residence permits are valid for one year and renewable for a further two years. After five years of residency, you are eligible to apply for citizenship and enjoy all the advantages of a European passport for life, along with your family.