If you schedule an interview in a less populated area, it may be possible to reduce the waiting time. Below is a detailed list of steps to take toward a successful application process. At the end of five years, if you decide to obtain Portuguese citizenship, you are eligible to get a Portuguese passport. Depending on the country, investments generally include property purchase or capital transfer to certain funds or authorities in the related country. As a result of the growth in the country’s popularity, it experienced a strong come back in the real estate market. Application to renew the Portugal Golden Visa. Outside of work she plays touch rugby and enjoys kick-boxing, trail running and spending time with her husband and son. One of the highest privileges granted to holders of the Portuguese golden visa is the flexibility to live outside Portugal even after a temporary residence permit is issued. In order to qualify for citizenship, you must have: Later in the article, we will touch on the specifics of the Portuguese language test. Conversely, if multiple applicants are purchasing one property of a larger purchase amount, they may also combine their investments. Important Note: As of April 2020, the initial residence permits became valid for two years (used to be one year) and the subsequent permits became valid for three years each. Typically SEF offices in major cities like Lisbon have a high wait time, whereas those in rural areas are less. Suivez toute l'actualité française et internationale avec les News 24/7 Capital Transfer of a minimum of 1,000,000 Euro to Portugal, A minimum of 350,000 Euro subscription in a qualifying Portuguese fund, Creation of a minimum of ten new full time jobs in a Portuguese business that is owned by the main applicant, →Create a minimum of eight new full time jobs in a Portuguese business formed in a low-density area in Portugal, owned by the main applicant, Invest a minimum of 350,000 Euro in an existing Portuguese business, where the incorporated business must create a minimum of five new full time jobs for at least three years, Invest a minimum of 250,000 Euro in preserving national heritage in Portugal, Invest a minimum of 350,000 Euro in a research and development activity in Portugal. The good thing is, you will not have to pay this upfront, but in installments depending on the completed tasks within the five years. Students from Switzerland, Norway, Iceland and Liechtenstein are treated the same as EU students in this case. The choice can look a little scary at first glance, but in fact quite a few visas are unlikely to be relevant for most people. Visa-free travelling right within the Schengen Area. Do I have to know Portuguese to apply for a golden visa? Portugal Golden Visa program has a low stay requirement. Most of the supporting documents to Portugal Golden Visa need to be translated into Portuguese or English. Benefits: What are the Benefits of the Portugal Golden Visa? At least one of the following requirements must be met: Transfer of funds: 1,000,000 Euro transfer of capital to a Portuguese bank account or 350,000 Euro subscription in one of the qualifying Portuguese venture capital funds. Application & Process: What Is The Step By Step Process For The Golden Visa Portugal? Your law firm or your professional advisor will collect the cards and send them your way. It really depends on the criteria of the investor and there are many variables that go into answering that question. Keep reading this guide for more information on real estate investment options. Golden Visa Scheme If you have the financial means, buying a property worth at least €500,000 in Portugal can make you eligible for the Portuguese Golden Visa which allows you to work and live in Portugal as well as have free visa travel in the Schengen area. The applicants enjoy free travel within the European Schengen visa zone. To qualify for the Golden Visa in Portugal, at least one of the following options needs to be pursued to claim Portuguese residency through investment: Transfer of capital of at least 1 million Euros to Portugal or a Portuguese business. Technically, you can apply for a golden visa yourself. Then the limited company may make investments on behalf of the investor with that capital. (i) Investing a minimum of 350,000 Euro into an incorporated business in Portugal and (ii) creating five full-time jobs for a minimum period of three years. As a result of the growth in the country’s popularity, it experienced a strong come back in the real estate market. Nevertheless, for those interested in obtaining European citizenship, Portugal Golden Visa stands out in comparison to Spanish and Greek Golden Visas. All the above documents issued by a non-Portuguese entity need to be legalized. Though things looked grim for Spain's golden visa this summer, recently released figures show approvals are up 19% in the last six months. This means that if two siblings purchase a real estate worth 1,000,000 Euro, they may each apply for the Portugal Golden Visa, as they each spend 500,000 Euro in total. The city sits astride the Tagus River, at 625 miles the longest on the Iberian Peninsula. Lisbon shines out as one of the most affordable European capital to live. The country offers a favorable tax regime to those who decide to relocate to Portugal. Just remember that you will need to know some Portuguese, so if citizenship is your goal, make sure you study the language. The Golden Visa is designed to attract investors from all over the world and have them investing in Portugal. Complete the Investment & Submit Application to SEF, 1st Golden Visa Residency Card Issued, valid for one year, Renewal of Golden Visa Residency Card, new card valid for two years, Second renewal of Golden Visa Residency Card, new card valid for two years, Three options: Continue with Golden Visa, become a Permanent Resident, Apply for Citizenship. The residence permit allows visa-free access to Europe’s Schengen Area and requires an average stay of just seven days a year in Portugal over the five-year period. You can read our article on the Portugal Golden Visa for UK Citizens for more details. This visa is for non-EU investors who invest a minimum amount as defined by law. Real estate acquisition taxes are significant, however, the costs do not stop there. The Portugal Golden Visa is a residence visa issued to non-EU nationals who have made a significant investment in Portugal. If you owe money on a few different credit cards, you may be considering a balance transfer.A balance transfer lets you move your existing balances onto a … In case you do, then you become tax residents in Portugal. Besides that, you may live in your country of origin or any other place you wish to live in. As the main applicant, you must maintain the investment as long as you and your dependents hold the Golden Visa residency status. So, between 30-90 days prior to the expiration date of your card, you need to repeat the above SEF appointment to renew your cards. In a nutshell: The Portugal Golden Visa program, also known as the residence permit for investment activity (ARI), is a residency by investment scheme designed for non-EU citizens. The process for Portugal’s golden visa program depends on both your availability to visit Portugal, to submit your biometric data, and the number of the applications at the office to which you applied. The main objective was to attract international capital into the country, as it was much in need after the 2008 economic crisis. You may find the specifics of each route above in this article. The beneficiaries of ARI / Golden Visa are entitled to: • Residence visa waiver for entering Portugal; • Living and working in Portugal, on condition that they stay in Portugal for a period of 7 or more days, in the first year, and 14 or more days, in the subsequent years; • Visa exemption for … A visa is an authorization stamped on the passport of an individual. Depending on your situation, your visa shouldn't be difficult to obtain in Portugal. The Golden Visa application in Portugal is quite straightforward. For a complete list of these options, you can check the above in this article. Yes, Portugal allows Golden Visa applicants to include their same-sex partners within the program through family reunification. That way, you can avoid districts with long waitlists such as the SEF office in Lisbon. Portugal requires the minimum investment amount to be brought into the country by the main applicant. That’s just the way it goes, but happily the Japanese visa system is fairly straightforward. Investment categories include real estate, venture capital fund, transfer of capital, company formation, and donation. If you are applying with your family, it is better that you all go together with all your documents at once. This potential change prevents applicants from buying real estate in major cities like Lisbon and Porto. Discover all of the residency, citizenship and immigration programs. If you are part of the residency permit by investment scheme, there are also Golden Visa fees to be paid to the government. In that case, the investor does not pay taxes in Portugal on the worldwide income, apart from that in Portugal. You may find the specifics of each route above in this article. If you are looking for a European residency through a real estate investment in a warm climate, Portugal is undoubtedly worth a look. American business owners may also choose to expand their businesses to Portugal, taking advantage of the Golden Visa program. In order to qualify for the program, a qualifying investment has to be made. Later on in this guide, you can find a list of qualifying investments. Portugal is still quite affordable by European standards. The cost of the Golden Visa depends on the investment route that is chosen. Get Golden Visa: Who we are and How we can Help You. Transfer capital of at least €350,000, destined to acquire units in investment or venture capital funds aimed at providing capital to companies that meet certain requirements. The Portuguese golden visa offers a fast-track to obtaining a residency permit in Portugal, alongside other benefits. However, if the investment exceeds the required investment amount, anything above the required amount can technically be borrowed from a Portuguese bank. Residence visa waiver for entering Portugal. It is best to get their advice in order to keep things moving quickly. In this guide, we will walk you through the benefits, requirements and step by step process of applying for the Portuguese golden visa. Why exactly is the Portugal Golden Visa so in-demand? The Golden Visa program will not bring any tax responsibility to its applicants unless you spend more than 183 days of the year in Portugal. As mentioned above in the article, getting a NIF and opening a bank account in Portugal can practically both be done within a day. Portugal offers a dreamy landscape, a wide coastline, a climate full of sunshine, hospitable people, and a delicious cuisine. A uniquely Spanish rule intended to accelerate bureaucratic processes may be to thank for that. With the right economic policies, the Portuguese real estate market started a recovery period beginning with 2013. Once you get Portuguese citizenship, you can immediately apply for a Portuguese passport. If you want to find good opportunities for real estate investments in Portugal, you can start by working with an experienced chartered real estate investment professional. Yes, Russian citizens can apply for a Portugal Golden Visa. At the end of this period, you need to renew your residence permit. The work permit allows you to work anywhere, as well as start and run your own business in Portugal. Americans will usually get their residency Visa Type 1 permit first. The legal costs of the golden visa can start from 6000 Euros, with extra charges for meeting the investment threshold. I looked into several countries in Europe but found that Portugal … And why are non-EU citizens applying in the hundreds? The Portuguese Golden Visa has one of the lowest stay requirements in Europe. Golden Visa Portugal. This provides them with the right to travel within the Schengen Area. What if the cutoff date comes while I’m in the process of applying for Portugal’s golden visa? If and once you become a permanent resident or a Portuguese citizen, the investment no longer needs to be maintained. Becoming a Golden Visa holder in Portugal does not necessarily turn you into a Portuguese tax resident. So the minimum amount cannot be taken out as a loan from a Portuguese financial institution. Besides other benefits, it allows you to invest a minimum amount as prescribed by law and acquire a residence permit for you and your family members. Its poorly named Non-Habitual Resident tax program can mean reduced or even no … The banking and maintenance fees are also quite low compared to the rest of Europe. The program proved to be a great success, raising 5.5 billion Euros in a little over eight years. What makes the Portugal Golden Visa so sought after? Job creation: Creation of at least 10 jobs in Portugal. A minimum investment of 250,000 Euro into the conservation of national heritage, arts or culture in Portugal. Depending on your preferred type of investment, the associated costs differ. In other words, it completely depends on the investor and the investor’s needs. Requesting a criminal record may take the longest. The fees can land somewhere between 10,000 Euro all the way up to 30,000 Euro for a family of four, taking into account the complete five-year span. 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