Golden Visa Portugal 101
The Portugal Golden Visa is a visa program by the federal government of Portugal that grants residency in Portugal to people who invest in properties worth at least 500,000 or create 10 jobs in Portugal.
The Portugal Golden Visa program is one of the most popular both in Europe and the world, and for good reason. You can select from a variety of fairly affordable investment choices that will offer you both irreversible residency and citizenship in 5-6 years. Required time invested in Portugal average just 7 days annually. The scheme began in 2012, and by May 2020 has been credited with investments of over 5.2 billion euros from over 20,000 persons (8,736 financiers and 14,936 household members).
When you become a citizen, you can live and work anywhere in the EU/EEA and get the world’s 4th finest passport for nomads and international people. The program is NOT blacklisted by the OECD, unlike numerous other Golden Visa programs. Portugal is a safe and stable nation with an excellent and budget friendly lifestyle, good health care and education alternatives, well-connected airports, and the finest environment in continental Europe.
These being the best alternatives for the majority of people: Property financial investments beginning at 280,000 (although more commonly 350,000 or 500,000). A 350,000 financial investment into a personal equity or endeavor capital fund or local business.
After 5 years, golden visa holders can then get irreversible home in Portugal; after 6 years, they can apply for Portuguese citizenship. Portugal’s golden visa program offers a substantial level of legal rights, although it comes at a price (see our previous article).
Portuguese golden visa holders can; live and work in Portugal, supplied they live in Portugal for a minimum of 7 days in the very first year of residence and 14 days in each subsequent year. In addition, Portuguese financier visa holders are exempt from paying tax on worldwide earnings if they reside in Portugal for less than 183 days per tax year.
The Portuguese golden visa application can be submitted online via the Portuguese Migration and Borders Service’s (SEF). Online pre-registration is needed. If a legal agent arranges your pre-registration visit for you, then they should finish it online through various websites. After signing up, the legal representative must deliver a power of attorney signed by the visa candidate.
In addition to the Portuguese golden visa application, you will need to submit the following documents: passport or valid recognition document, proof of legal entry into Portugal (e.g., Schengen short-stay visa) proof of health insurance coverage (provided within the last three months), criminal record certificate from nation of origin/residence (provided within the last three months), evidence of compliance with tax and social security obligations, receipt of payment of the Portuguese golden visa charges In addition to this, applicants are required to show a dedication to maintaining their investment for a minimum of five years.
Each investment type has its own specific requirements for proving this. Processing time for a Portuguese golden visa is generally several months. As soon as a Portuguese golden visa has actually been processed, the SEF contacts the applicant (or their legal agents) to set up a consultation.
This permits the following family members to sign up with the golden visa holder in Portugal: spouse, minor, dependent, children, minor adopted, children full-age, reliant children who are studying, dependent parents of either the golden visa holder or spouse, minor, reliant brother or sisters who are under the guardianship of the golden visa holder – all members of the family receive the same rights.
Some of the benefits of acquiring a Portugal Golden Visa include (1) travelling visa-free in Europe’s Schengen Location, (2) eligibility to request Portuguese citizenship after 5 years of legal residency, (3) High quality education system, (4) health care system, in addition to (5) low criminal offense rate and high lifestyle alternatives.
