Portugal Golden Visa Program

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What is Portugal Golden Visa?

The Portugal Residence Permit for Investment Activity (ARI) program, often called the Portugal Golden Visa program, was introduced by the Portuguese government in 2012. This program is one of the most preferred five-year residency-by-investment opportunities for non-EU citizens and provides an effective pathway to Portuguese citizenship.

Portugal Permanent Residency and  Citizenship by Investment

To obtain a Portugal Golden Visa, foreign investors can make a minimum investment of EUR 280,000 in Portuguese real estate, among other options, provided they spend an average of seven days per year in Portugal over five years. This investment not only grants residency but also offers a path to a Portuguese passport (an EU passport) after five years, enabling visa-free travel to 187 countries, and ranking 5th globally in passport mobility.

Can I Still Apply for the Portugal Golden Visa?

Yes, Step Global along with our team of Portuguese legal experts, continues to accept Golden Visa applications until further notice, ensuring clients with the necessary funds can begin their investment in Portugal in pursuit of Portuguese citizenship. Applications received before any potential legal changes take effect will continue to be processed under current regulations.

What are the Key Benefits of the Portugal Golden Visa Program?

There are many reasons why people want to invest in the Portugal Golden Visa program to obtain a residence permit by investing in the country. The diverse culture, pleasant Mediterranean climate, beautiful architecture, low cost of living, delicious food, and friendly people are what draw people to this quickly growing economy. It is also an ideal location for those looking for a holiday home. The Portugal Golden Visa allows investors to secure Portugal residency by investment within a short time frame, providing visa-free travel across the EU and Schengen Zone, access to high-quality schooling at relatively lower fees, and an abundance of social security and healthcare benefits. The Portugal Golden Visa Program is also a direct route to an EU passport, which allows the holder to live and work in any EU country and travel visa-free to over 180 countries worldwide.

Benefits of the Portugal Golden Visa Program:

  • Diverse & friendly culture
  • Pleasant Mediterranean climate
  • Beautiful architecture
  • Low cost of living
  • Delicious food & food culture
Portugal is an oasis for expats seeking sunshine, warmth, and a mild climate
Portugal's favorable tax policy makes the country a very desirable destination for expats, attracting investors, entrepreneurs, and many others
Portugal is one of the most affordable countries in Western Europe, especially for expats
Portugal is currently a top destination worldwide for retirees
One of the most exciting European cities with stunning architecture, new bars and restaurants, and excellent food and wines
Portugal offers families the benefit of an excellent education system and endless opportunities for graduates to work in any EU country
Public hospitals in Portugal offer free medical care, for both citizens and residents of the country
Portuguese Golden visa program offers immediate visa access to the Schengen space - a borderless zone comprised of 26 European countries
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Investment & Requirements for the Portugal Golden Visa

Portugal Golden Visa Program

Real Estate Investment Options:

Step Global proudly boasts one of the GCC region’s most extensive portfolios, featuring properties officially endorsed for the Portugal Golden Visa. Explore our diverse range of options, including those suitable for individuals seeking Portugal Golden Visa from Dubai.

Capital Transfer For Portugal Visa:

EUR 280,000 in a government designated low density area. The property must be older than 30 years, and the developer must be undertaking to fully refurnish and renovate the property so it is as good as new for use.

EUR 350,000 in a government designated urban area. The property must be older than 30 years and the developer must be undertaking to fully renovate and refurbish the property so it is as good as new for use.

EUR 400,000 in a government designated low density area if the construction is brand new or is less than 30 years old (not a refurbishment project).

EUR 500,000 in a government designated urban area if the construction is brand new or if the property is less than 30 years old (not a refurbishment project).

 

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Important Announcement on the Portugal Golden Visa Program

Portugal Golden Visa Program Announcement

Since the Portugal government announced on February 16, 2023, their intention to close the attractive Golden Visa Program which leads to a resident permit and the EU passport eventually, we have been closely following the evolutions around the proposed amendments.

Shortly after which, a draft of the new legislation was sent to the Portuguese Parliament for further discussion and voting. This document provides information on many aspects that concern those who have already invested in property, and those who are considering applying under the program.

  • The new law will not retroactively apply to existing Golden Visa holders and to those who are applying now before the new law comes into effect.
  • All applications submitted before the bill is officially signed into law will be accepted and processed as usual. Therefore, for now, the Golden Visa Program continues without any change as such in the terms for applicants up until any NEW laws come into effect.
  • The new law will go into effect on the date it is published in the official journal.
  • Minimum stay requirements in Portugal of 7 days in the first year of residency and 14 days in the subsequent periods of two years of residency (renewals) will remain the same; which is great news for buyers who live far away.
  • Once the new law is officially signed and published no new Portugal Golden Visa applications will be accepted as of that date.
  • It is estimated through the legislative process of Portugal that the new law will become official between mid to end of June 2023.

Procedures and Time Frame of the Portugal Golden Visa Program

To qualify for the Portugal golden visa, investors must make a capital contribution to the Portuguese economy (usually via real estate or job creation). The time frame for approval varies, and there is no fixed or definitive answer, but typically this process can take a few months, up to around 6 months. After that, the applicant can apply for Portuguese citizenship. Once this is approved, a residence permit is granted, allowing the applicant to freely live and work in Portugal. Then, after meeting residency requirements, investors can apply for full Portuguese citizenship and residence.

How to Apply for the Golden Visa in Portugal

To apply for Portuguese visas via the Portugal Golden Visa program, investors must first make a qualifying investment (such as a real estate acquisition, as mentioned above). Once they have completed the investment, applicants can then submit their visa applications to the Portuguese government. Alongside the visa application, applicants must also provide documentation and proof of investment.

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Portugal Residents By Investment Program Frequently Asked Questions

The Portugal Golden Visa investment processing time may vary. Under normal circumstances and if the application complies with the requirements, it takes between 8 to 10 months from the time your application is submitted until you receive the permanent resident card.
Tax liability in Portugal depends on your residency status, which is defined by how much time you spend in the country each year. Investors will only be taxed on their worldwide income if they are residents of Portugal for over 183 days in any year. If you are a foreign resident, you can take advantage of Portugal’s Non-Habitual Residency (NHR) tax scheme, under which you can benefit from either tax exemptions or a flat 20 percent tax rate on your foreign-sourced income for ten years. It’s advisable to speak with one of our lawyers to get more information.

Yes, Portuguese Golden Visa holders can apply for citizenship or permanent residency after 5 years of holding their Golden Visa.

The validity period of your Portugal Golden Visa is initially 1 year. You can then renew it for two-year periods, provided that you have maintained your investment. After five years, you become eligible for permanent residence or citizenship.

Portugal Golden Visa holders had access to the public-funded healthcare system after the meeting. The citizenship and residency requirements of the country. Those who contribute to the Social Security Fund can receive free medical care. Public education in Portugal is free except for universities, for which you have to pay a relatively small fee.

Yes, Portugal allows dual citizenship, which allows citizens to hold two nationalities simultaneously. However, if the applicant’s home country does not allow it, the applicant may have to renounce their citizenship.

Renew the Portugal Golden Visa. To maintain the investment and residency, you must apply for a residence permit renewal.

No, you do not have to take a Portugal Golden Visa language test to obtain the visa for permanent residency and citizenship.

Yes, family members, including spouses and any children under the age of 18 can be included in the Portugal Golden Visa application for citizenship by investment.

Below is the documentation for Portugal’s Golden Permanent Residence Program:

  1. A valid passport and copies.
  2. Proof of legal residence in Portugal.
  3. Criminal record clearance from both Portugal and your home country.
  4. Health insurance coverage.
  5. Proof of sufficient financial means.
  6. Documentation to demonstrate ties to Portugal (employment, family, etc.).
  7. Application forms, photographs, and any specific documents based on your circumstances.

The Portugal Golden Visa is one of the most popular residency-based investment programs. To qualify for the Portugal Golden Visa program, investors typically need to meet certain requirements, including making a qualifying investment in Portugal for a minimum period of 5 years. Common investment options include real estate acquisition, capital transfer, job creation, or cultural contributions. The specific requirements and investment amounts may vary, so it’s crucial to check the latest information from official sources or consult with immigration professionals and consultants like us who are familiar with current regulations.

The Portugal Golden Citizenship by Investment Visa Program offers several investment options, including real estate acquisition, capital transfer, job creation, and cultural contributions. Investors can choose to invest in real estate, fund various projects, or make capital transfers to qualify for the Golden Visa program. However, the specific requirements and investment amounts may vary, so it’s important to check the latest information from official sources or consult with professionals and immigration consultants familiar with the program’s current regulations.

Benefits of Portugal Golden Visa:

Residency: Grants the right to live, work, and study in Portugal and obtain permanent residency.

Travel: Allows visa-free travel to Portugal or travel through Europe within the Schengen Area.

Path to Citizenship: Eligibility for Portuguese citizenship after a certain period.

Education and Healthcare: Access to Portugal’s education and healthcare systems.

Real Estate Options: There are various investment options, including real estate.

Drawbacks of Portugal Golden Visa:

Investment Requirement: Requires a substantial financial commitment.

Renewal Requirements: Must maintain the investment and meet renewal criteria.

Processing Times: Processing times can vary, and delays may occur.

Changing Regulations: Regulations may evolve, affecting program conditions.

Limited to Schengen: Visa-free travel is limited to Schengen Area countries.

It’s essential to consider the current Portuguese residency program details and consult with professionals for the latest information and personalized advice.

Contact us

As the window of opportunity to take advantage of this once in a lifetime EU Residency and Passport program is short, we encourage you to contact us today.

 

With a number of eligible properties available, and over 13 years in the investment immigration industry, Step Global is a leading advisory firm which has assisted clients across the GCC, India, and Africa, fulfil their immigration goals.