The program was introduced in 2012 and is designed to attract foreign investment and stimulate the Portuguese economy. The Golden Visa program allows non-European Union (EU) citizens to obtain a residency permit in Portugal. This permit grants them the right to live and work in the country, as well as travel freely within the Schengen Area. It is initially valid for one year and can be renewed for subsequent two-year periods.
The Golden Visa program provides a pathway to Portuguese citizenship. After holding the residency permit for five years, applicants may be eligible to apply for Portuguese citizenship, subject to fulfilling certain requirements, such as passing a language test and demonstrating ties to the country. The Golden Visa program is an initiative launched by the Portuguese government to attract foreign investment and stimulate the country's economy. It offers non-European Union (EU) citizens the opportunity to obtain a residency permit in Portugal in exchange for making a qualifying investment in the country.
Benefits of the Golden Visa program
The Golden Visa program in Portugal offers a range of benefits to participants. Here are some key advantages of the program:
Residency Permit: The Golden Visa program provides a residency permit, allowing non-European Union (EU) citizens and their families to live and work in Portugal. This permit grants the freedom to reside in the country for a specified duration, which can be renewed periodically.
Visa-free Travel: Holders of the Portuguese Golden Visa enjoy visa-free travel within the Schengen Area. This means they can freely explore and visit other Schengen countries without the need for additional visas or entry restrictions.
Family Reunification: The Golden Visa extends its benefits to immediate family members, including spouses, dependent children, and dependent parents. This allows families to relocate together and enjoy the advantages of living in Portugal.
Path to Citizenship: After fulfilling the residency requirements, participants may be eligible to apply for Portuguese citizenship. This provides the opportunity to obtain a second passport, which can offer greater mobility, access to additional benefits, and enhanced global opportunities.
Investment options for Golden Visa
Investment options for the Golden Visa program in Portugal provide flexibility to applicants. Here are some common investment avenues:
Real Estate Investment: Purchase of a property with a minimum value of €500,000 (or €350,000 for properties located in urban regeneration areas or properties more than 30 years old requiring renovation). Acquisition of properties for tourism purposes or with a minimum of 30% equity investment in a company that owns or develops real estate.
Capital Transfer: Capital transfer of at least €1 million to Portugal, which can include bank deposits, shares, or other financial instruments. Capital transfer of €350,000 or more for research activities conducted by accredited institutions.
Job Creation: Creation of a minimum of 10 permanent jobs for Portuguese nationals. Creation of a minimum of 8 permanent jobs for Portuguese nationals in low-density areas.
Steps to obtain a Golden Visa
Here are two paragraphs outlining the steps to obtain a Golden Visa in Portugal:
Eligibility and Investment Selection: The first step in obtaining a Golden Visa is to ensure that you meet the eligibility criteria set by the Portuguese government. This typically includes being a non-EU citizen, having a clean criminal record, and being able to provide proof of sufficient funds to support the investment. The next crucial step is selecting an eligible investment option. The Golden Visa program offers several investment routes, such as investing in real estate, creating jobs, capital transfer, scientific research, or supporting cultural heritage projects. Each investment option has specific requirements and minimum investment amounts, so it's important to carefully evaluate and choose the one that aligns with your goals and resources.
Application and Documentation Submission: Once you have chosen the investment option, the next step is to gather the necessary documentation and submit your application. This typically includes providing identification documents, proof of investment, criminal record certificates, and other supporting documents as required by the specific investment route. It is crucial to ensure that all the documentation is accurate, complete, and meets the program's requirements to avoid any delays or rejections. The application is then submitted to the Portuguese Immigration and Borders Service (SEF) or through a designated intermediary, depending on the chosen investment route. The processing time may vary, but once your application is approved, you will be issued a residence permit, allowing you to live, work, and travel within Portugal and the Schengen Area.
The Golden Visa program in Portugal offers a unique opportunity for non-European Union citizens to obtain residency and potentially citizenship by making a qualifying investment in the country. With its attractive benefits and flexibility, this program has become increasingly popular among international investors. By participating in the Golden Visa program, investors can enjoy the privileges of living and working in Portugal, as well as the freedom to travel within the Schengen Area. The program provides a pathway to Portuguese citizenship, opening doors to broader opportunities and benefits.
Source Link: https://www.lexidy.com/services/portugal/immigration/golden-visa/