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Portugal, situated along the Atlantic Coast of the Iberian Peninsula, is considered to hold a High Human Development Index. It is one of the most developed countries in the world with an exceptional GDP which is 12 times more than that of India, and a basic literacy rate of 99.44%. It attracts millions of tourists every year with its exotic cuisine, vibrant culture, western countryside and gorgeous beaches.
And not to mention the Mediterranean climate, which will accompany you with its breezy summer and chilly winter. This blog will guide you on what, why and how you need a Portugal Golden Visa.
The Portugal Golden Visa is an investor immigrant programme sponsored by the Government of Portugal. A foreign investor needs to invest a significant amount of money, such as €500,000 or create 10 jobs in Portugal, to get access to the Visa. While a lot of people might look at it as a mountain of investment, a lot of investors think it’s worth it.
To get access to the Portugal Golden Visa, one needs to meet all the eligibility criteria mentioned below:
Following are the investment options which will open the gateway of Portugal Golden Visa for you:
You can purchase a property worth €500,000 in Portugal to acquire a Golden Visa. However, the cost will fluctuate depending on the other mode of investment, such as:
You can also invest in multiple properties, and the total should be a minimum of €500,000. As per the latest update, you cannot purchase any property in the Porto, Lisbon and coastal towns. Only the properties in the low-density areas are eligible for Portugal Golden Visa.
You also do not have to pay any tax if you do not rent out the property. If you do, the rate of taxation is fixed at 28%.
Another option is to spend a minimum of €500,000 in a qualifying investment fund. These are known as "fundos de capital de Risco", which support the businesses in Portugal. The minimum investment amount has been set at €150,000 since January 2022.
This option is the most expensive among the others for investment. You have to make a capital transfer of a minimum of €1.5 million to Portugal from an international bank account and have proof of such transfer. The minimum amount of transfer has been set at €500,000 since January 2022.
There are two options for this investment. Making investment in either of these will get you the Golden Visa:
There are two options under this investment. Either of them will qualify you for Portugal Golden Visa:
The application process for a Portugal Golden Visa can be lengthy, but with the right representative, the process can get over in no time and in a hassle-free manner. Individuals have to go through the following procedures to get their Portuguese Golden Visa:
Once you decide on your investment type from the options discussed above, you should get the required documents for yourself and your dependents ready for review.
Post completion of the review of the documents, a fiscal representative will be appointed to help you obtain the Tax Identification Number or NIF in Portugal and get a bank account afterwards. These processes can be done remotely.
Once you get a hold of two of the above-mentioned details, you can start making the investment.
After making the investment securely and successfully, you can submit your application online and book your interview.
Upon fulfilling the basic criteria, your application will get a pre-approval.
It will take around 60 days for you to get the slot for the session where your biometrics will be collected in person.
After the collection of the biometrics, it will take nearly 120 days to get the Golden Visa approval from SEF. Pay the government permit issue fee and collect your Visa.
The documentation process to acquire a Golden Visa for Portugal will need the following paperwork to be presented. These requirements can change from time to time at the discretion of the Portuguese Government, and hence it is recommended to check with the official site for the latest update and information.
Following are the documents you will need:
Along with the requirements of documents, you should pay attention to the following details as well:
You will have to pay following costs to obtain Portuguese Golden Visa:
|
Particulars |
Charge |
|
Processing fee |
€514.80 (initial and renewal) + €80.20 for each family member |
|
Initial Golden Visa |
€5,147.80 |
|
Initial Golden Visa for members of family or dependants |
€5,147.80 |
|
Renewal |
€2,573.90 |
The following are the reasons one may require a Portugal Golden Visa:
The above-mentioned facilities are alluring enough for an investor to make such an investment in Portugal and enrol under the Portugal Golden Visa Program.
Following are the benefits of Portugal Golden Visa you can avail of:
Portugal Golden Visa has comparatively lower stay requirements. It requires you to reside for a minimum of 7 days annually in the country. In the following table you will find details regarding validity and stay period of Golden Visa:
|
Type of Golden Visa |
Validity Period |
Stay Requirement |
|
Initial Golden Visa |
Two years |
14 days out of 2 consecutive years |
|
Subsequent Golden Visa |
Three years |
21 days out of 3 consecutive years |
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Important Articles about Visa Processes
Disclaimer -
Your policy is subjected to terms and conditions mentioned in your policy schedule and policy wording. Please go through the documents carefully.
The information mentioned here about the countries, visa fees and others is taken from different sources. Digit Insurance is not promoting or recommending anything here. Please verify the same before you book your tickets, apply for a visa, buy a travel policy or make any other decision.
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