Golden Visa
Portugal’s Golden Visa Residency Programme was launched in 2012, to offer investors from non-EU countries a fast-track route to a residency permit and eventual passport for Portugal. This permit extends to dependent children and parents and allows the investor and family to enter and/or live in Portugal, and to travel freely within the majority of European countries (Schengen Area).
It is considered one of the most attractive residency programs for foreigners in the world, since investors are not required to reside in Portugal, and following the initial investment requires a stay of just 7 days in the first year and 14 days in each subsequent 2-year period.
Eligibility – Who may apply?
All third country citizens who invest as an individual, businessperson, or through a company set up in Portugal (or in another EU Member State) and who, in addition, are stably settled in Portugal may apply for a Residence Permit for Investment, by one of the following routes:
I. Capital transfer with a value equal to or above €1,5 million.
II. The creation of, at least 10 job positions.
III. The purchase of residential real estate property with a value equal to or above €500,000. This is one of the most popular investment types for the process of obtaining a golden visa. Golden Visa eligible properties are offered in the lower density areas of the Algarve which are:
Loulé: Alte, Ameixial, Salir, União de freguesias de Querença, Tôr e Benafim
Silves: São Marcos da Serra
Tavira: Cachopo, Santa Catarina da Fonte do Bispo.
These are beautiful countryside areas, full of nature, peace and serenity, and due to the ever-expending tourism areas of the Algarve, offer an excellent long-term investment for growth.
The applicant can acquire property on a joint ownership basis, provided that he/she invests an amount equal to or greater than 500,000.00 EUR.
Any property acquired can subsequently be rented or leased for commercial, agricultural or tourist purposes.
Without prejudice to other essential documentation for the process, it is also necessary to submit a declaration issued by a financial institution that attests the effective international transfer of capital to a bank account in Portugal, of which the investor is the holder.
IV. The purchase of real estate property, with construction dating back more than 30 years or located in urban regeneration areas, for refurbishing, for a total value equal to or above 350 thousand Euros. This investment type has been increasing the interest of investors in Portugal. The total value of the investment includes the acquisition of the property, and the rehabilitation works, which can be acquired on a joint ownership basis if the applicant invests at least 350,000.00 EUR.
Any property acquired can subsequently be rented or leased for commercial, agricultural or tourist purposes.
V. Capital transfer with a value equal to or above €500,000 for investing in research activities conducted by public or private scientific research institutions involved in the national scientific or technologic system.
VI. Capital transfer with a value equal to or above €250,000 for investing in artistic output or supporting the arts, for reconstruction or refurbishment of the national heritage, through the local and central authorities, public institutions, public corporate sector, public and private foundations, pursuing activities of artistic output, and reconstruction or maintenance of the national heritage.
VII. Capital transfer of the amount at least €500,000 for the acquisition of units of investment funds or venture capital funds dedicated to the capitalisation of companies capital injected under the Portuguese legislation, whose maturity, at the moment of the investment is, at least, five years and, at least, 60% of the investment is realised in commercial companies with head office in national territory.
VIII. Capital transfer of the amount of at least €500,000, for constitution of a commercial society with head office in the national territory, combined with the creation of five permanent working jobs, or for the reinforcement of the share capital of a commercial society with head office in national territory, already existing, with the creation or keeping of working jobs, with a minimum of five permanent jobs, and for a minimum period of three years.
How to prepare and apply for the Portuguese Golden Visa
While the process isn’t very complicated, it does involve gathering a lot of documentation—both in Portugal and in your country of origin. It will be beneficial to work with a native Portuguese speaker if you don’t already know the language. Quintas & Casas can support you throughout the process.
In summary, the steps are as follows:
1. Obtain a Portuguese fiscal number (NIF) and open a local bank account.
2. Select your investment (and appoint a local lawyer before finalizing anything)
3. Gather all required documentation from your country of origin and have it all legalized and translated into Portuguese.
4. Gather necessary documentation in Portugal (your lawyer and/or fiscal representative can assist with this)
5. Submit the application for the Golden Visa (typically through your lawyer).
6. You will then hear back from SEF with a preliminary approval.
7. Confirm a date for your biometrics appointment, bringing along the originals of the documentations that were submitted with the application.
8. Wait for final approval.
9. Receive residence card.
The initial application is now submitted online, including copies of the supporting documentation. After the request is approved, you will have to appear in person for an interview.
SEF will allow you to book the interview in any district of your choice. After pre-approval, SEF will provide access to an online calendar with available dates to do your in-person biometrics appointment. You can bring your family members to this meeting, and their application is submitted simultaneously. An application fee of €539.66 is paid for the main applicant and each member of the family.
On approval you pay a residence permit issuance fee of €5,391.56 for each applicant. After ten to twenty days, you should receive your residency card valid for two years, and the renewal process is a simple formality.
Please contact us if you require further information on any of the points above.
+351 289 419 572
