Portugal Golden Visa

Schemes by countries that offer residence by investments are also known as ‘golden visas’ and offer people the opportunity to get a residence permit from a country by purchasing a house there or making a generous investment or donation in the country. The applicant must be over the age of 18, have no criminal record and have ample amount of funds to make the necessary investment.

Golden passports, officially known as citizenship by investment programs, work on a similar concept and offer citizenship to foreigners in exchange of investing in the country.

Portugal Golden Visa

Portugal Golden Visa, also known as the Residence Permit for Investment Activity (ARI), is a residency by investment permit for non-European Union (EU) citizens. The program was launched in 2012 with the main objective of attracting international investments into the country after the 2008 economic crisis. It has proven to be really effective and has attracted investments over EUR 6 billion since its inception.

A magnificent landscape, breathtaking coast lines, hospitable people, delicious food – Portugal has loads of incredible aspects that make it one of the most desirable countries to live in. These features attract numerous investors from around the globe that wish to live, work and study in the country.

In just five years, investors can avail of the opportunity to become a a citizen of Portugal.

Portugal Golden Visa Eligibility

• You can apply for a Portugal Golden Visa if you are a non-EU/ European Economic Area (EEA) /Swiss national.
• You must be over 18 years old.
• You must not have any criminal record in your home country.
• You must make a significant investment in Portugal with funds that come from outside of Portugal.

Benefits of Portugal Golden Visa

A Portuguese Golden Visa comes with numerous benefits, a few of which are mentioned below:

• Applicants can get a residential permit by investing one of the lowest investment limits in Europe - EUR 280,000.
• Applicants are not required to live in Portugal but may stay in Portugal for a week on an average per year.
• Applicants are eligible to apply for citizenship in just five years.
• After receiving citizenship, applicants have visa-free access to 188 countries.
• Through the Golden Visa permit, the applicant registers in the Schengen Area’s central system, which grants them access to travel freely across Europe without the need for any additional visa.
• The work permit allows applicants to work anywhere and even start a business in Portugal.
• Applicant may extend their Golden Visa to their family members.

Family members eligible to apply along with the main applicant are: Spouse. Children under the age of 18. Dependent children under the age of 26 who are full-time students and unmarried. Parents of the main applicant who are more than 65 years old.

Tax Benefits of Portugal Golden Visa

Portugal’s hugely advantageous tax system is a boon, especially for foreigners planning to move to Portugal and becoming permanent residents of the country.

• The applicant has no tax liability in the country until they spend more than 183 days of the year in Portugal, after which you become a tax resident of Portugal.
• Applicants can avail of certain tax deduction in their first 10 years of residence through the non-habitual residency (NHR) scheme. The program was slightly amended in 2020, after which foreign pensioners were barred from receiving tax benefits on their pension.

Portugal Golden Visa Investment Options

There are a wide range of investment options available in the Portugal Golden Visa program:

Real Estate Acquisition

• Acquiring real estate worth more than EUR 500,000 in Portugal will make the applicant eligible for a Golden Visa. The amount is reduced by 20% to EUR 400,000 if the property is in a low-density area of Portugal.
• Acquiring real estate that is more than 30 years old in an urban rehabilitation area and renovating it for a minimum of EUR 350,000. In a low-density area of Portugal, the amount will drop to EUR 280,000.
• The real estate acquisition might not be limited to just one property and can include several properties as long as the minimum amount is met.
• Several applicants can combine their investments to buy a major property. So, if the applicant and their brother buy a property worth EUR 1 million, both of them can apply for Golden Visa, as the individual investments for both of them will meet the minimum requirement of EUR 500,000.

Note: Investors may not qualify for Portuguese Golden Visa if they acquire residential properties in Porto, Lisbon and the coastal towns of the mainland. However, they may qualify if they buy a commercial property in these areas.

Capital Transfer

Transferring a minimum amount of EUR 1.5 million to Portugal will qualify applicants for a Golden Visa.

Fund Subscription

Applicants can apply for a Golden Visa after signing up for a minimum of EUR 500,000 subscription in a qualifying Portuguese fund.

Donation

A donation of EUR 250,000 towards preserving the national heritage of Portugal or a minimum of EUR 500,000 for research and development activity in Portugal can make an applicant eligible for a Golden Visa.

Company

• Creation of a minimum of 10 new full-time jobs in a Portuguese business owned by the main applicant will make them eligible for a Golden Visa. If in a low-density area, creation of a minimum of eight new full-time jobs in a Portuguese business owned by the main applicant is required.
• Invest a minimum amount of EUR 500,000 in an existing Portuguese company, where the business must create at least five new full-time jobs for at least three years.

Documents Required to Apply for Portugal Golden Visa

• Copy of a passport or any other government-related travel document.
• Proof of evidence of the qualifying investment made by the applicant individually:
• A deed or promissory sale agreement with proof of deposit payment if applicant has invested in real estate.
• Proof of fund subscription from the fund manager, if applicant has invested in any qualifying investment fund.
• A confirmation of transfer of funds in the form of declaration from a Portuguese financial institution.
• Proof of health coverage:
• If in Portugal, proof from the National Health System in Portugal.
• If outside of Portugal, evidence of coverage from an internationally covered insurance company.
• Current country of residence’s criminal record, which must be issued within three months of form submission.
• A sworn declaration to comply with the minimum investment requirements for the mandatory term of five years.
• ARI application payment receipt.
• Completed form that authorizes SEF to access criminal records in Portugal.
• Documents outlining good relations with the Portuguese Tax and Customs Authority & Social Security System that must be issued within 45 days of form submission.

We can assist you with queries related to Portuguese Golden Visa. You can get in touch with us by submitting a query below.