Golden Visa Program in Portugal has become one of the most popular programs in Europe. In fact, it is the fastest growing residency program in the world.
What is a Golden Visa?
Golden Visa is a permit to reside in a country. It’s also called an EU Residence Permit or European Union Residence Permit.
A Golden Visa is a type of residence permit and permanent residency status, as well as citizenship by investment (CBI).
Who can apply for the Golden Visa in Portugal?
Golden Visa is a permit to reside in a country. It’s also called an EU Residence Permit or European Union Residence Permit.
A Golden Visa is a type of residence permit and permanent residency status, as well as citizenship by investment (CBI).
You can apply for the Golden Visa in Portugal if you are a citizen of any country outside the European Union, except for US citizens. You will be required to have:
- An investment of at least €500,000 in government bonds or stocks issued by Portuguese companies;
- A deposit of at least €500,000 in a bank account held within Portugal; or
- A real estate purchase worth at least €500,000 (for first time buyers only).
The main requirements to obtain the Golden Visa in Portugal are:
The main requirements to obtain the Golden Visa in Portugal are:
- The investor must have a minimum investment of €500,000 in real estate or companies located in Portugal;
- Or a minimum investment of €350,000 in real estate located in the Azores.
Is the Golden Visa holder entitled to a Permanent Residence Permit?
Yes, a Golden Visa holder is entitled to a permanent residence permit after 5 years of legal residence in Portugal. In order for you to be eligible for the Permanent Residence Permit, you must have been a resident for at least 5 years and have not left the country for more than 90 days in any 12 month period.
Investment Options for the Golden visa in Portugal
The investment options for the Golden Visa in Portugal include real estate and business investments. However, you can also invest in the country’s national development fund by purchasing shares of up to 2,000 Euros a year (about $2,300 USD). The minimum amount of money required to qualify for residency under this option is 50,000 Euros (about $56,500 USD). You must hold your investment for at least five years and pay taxes on any profits or gains from it during that time.
To qualify for permanent residence based on investment in real estate or businesses, you’ll need to invest 500,000 Euros (about $560k USD) over a period of three years. If your funds are deposited into an authorized savings account with a bank in Portugal before being used as an investment towards obtaining permanent residency status—such as buying property—you’ll only have two years left until your cash needs to be spent!
What is the time frame for the issuance of the Portuguese Golden Visa?
The Portuguese Golden Visa process is streamlined, but it can take some time. The average processing time is six months, but that can depend on the investment option you choose. Real estate investments tend to be faster than other options because the government has already done an analysis of the property market for you and knows how much rent you can expect to receive from tenants. On the other hand, business investments will likely be slower because they require more hands-on work from your lawyer and accountant in order to ensure that your project meets all relevant regulations.
In general, if something goes wrong along the way (such as missing documents or errors), then it’s possible that your application could take longer than six months before being approved by authorities; however this shouldn’t happen too often since most people who apply for Portuguese residency have had experience with similar processes before (or at least know what works).
To qualify for permanent residence based on investment in real estate or businesses, you’ll need to invest 500,000 Euros (about $560k USD) over a period of three years. If your funds are deposited into an authorized savings account with a bank in Portugal before being used as an investment towards obtaining permanent residency status—such as buying property—you’ll only have two years left until your cash needs to be spent!
Processing Fees of the Golden Visa program in Portugal
For the Golden Visa program in Portugal, you have to pay a processing fee of EUR 10,000. This amount is divided into two parts: EUR 5,000 are paid when your application is submitted and another EUR 5,000 are paid upon approval of your application.
If you choose to invest in real estate in other countries that have their own version of the Golden Visa program (for example Spain), then processing fees vary from country to country. In Spain for example, applicants must deposit EUR 300,000 for their investor’s visa and an additional EUR 150,000 if they want to purchase an apartment or land from developers who offer it as part of their investment package.
The Portuguese golden visa is a great option for many investors looking to obtain residency and eventually citizenship through investment.
If you are seeking a second residency permit, but are not interested in the European Union, Portugal is a great option. The country has a very low tax rate and is not part of the Schengen Area.
The golden visa program is also one of the most flexible programs available. Because it’s possible to obtain citizenship within two years through investment, this program allows investors to receive multiple EU residence permits with ease.
Conclusion
The Portuguese golden visa is one of the best options for investors looking to obtain residency in Europe. The only downside is that it takes longer than other programs, but if you’re willing to wait a few years then Portugal might be right for you!
