The Portugal Golden Visa programme, launched in 2012, is one of the most popular residence by investment programmes in the world. The programme gives non-EU investors the option to gain residency in the country and visa-free access to Europe’s Schengen area.
A recent change in July 2021 declared that investment in high-density metropolitan areas of Portugal, such as Lisbon, Porto, Algarve, the Silver Coast or Setubal, will no longer qualify for a Golden Visa. These changes aim to promote foreign investment in low-density areas of the country. There will be a transition period until December 2022 to enable investors to complete their applications.
Portugal has issued Residence Permits to more than 9,000 investors and about 16,000 family members since its launch. Here are the reasons the programme is a big hit:
Firstly, the Portugal Golden Visa or Residence Permit Programme remains valid if the investor spends only seven (7) days in the country during the first year and then a minimum of fourteen (14) days (consequently or otherwise) within (any) two (2) years for the remaining duration. An individual must spend only thirty-five (35 days cumulatively over the five-year residence period.
Without any hindrance to their living and working situation, investors have the freedom to continue to travel freely across Europe’s Schengen Area without waiting for visas. This also becomes a gateway to live, work and study anywhere in Europe and travel visa-free to 186 countries.
Secondly, dependants include children under 18 and the applicant’s parents above 66 (or 55 years and dependant). In fact, all the family members can live in Portugal and receive education and healthcare benefits.
Additionally, Portugal is a cosmopolitan and peaceful nation with a high Human Development Index ranking. Its mild climate, rich heritage, stunning beaches and idyllic countryside are a big draw for seeking a good quality of life.
Lastly, with a minimum investment of €280,000, investors can apply for the Golden Visa.
Non-EU/EEA/Swiss nationals need to fulfil the following requirements to be eligible for the Portugal Golden Visa Programme:
The Portugal Golden Visa programme, launched in 2012, is one of the most popular residence by investment programmes in the world.
Here are the options for investors to qualify for the Portugal Golden Visa:
As of 2024, Portugal ranks fourth in the global passport power index, which allows its citizens to travel to 191 countries visa-free or with the visa-on-arrival option.
Here is the process of obtaining a Portugal Golden Visa and applying for citizenship:
Choose the investment among the options.
Fill in the Golden Visa application form and prepare all the required documents.
A NIF (a tax ID number) is required to open a Portuguese bank account for this step.
The investment funds outside of Portugal will be deposited in the bank account.
The pre-application and other documentary requirements are submitted to SEF online.
After reviewing your pre-application and documents, the SEF will invite the applicant and dependants (if there are any) to Portugal for an in-person appointment and biometrics purposes.
After approval of the application, a residency card will be issued, valid for two years.
Apply for visa renewal in the second and the fourth year, staying for a minimum of 14 days in a year block period.
Permanent residence is granted after five years, and citizenship in the sixth year.
Investors can also apply for Portuguese (EU) passport once citizenship is confirmed.
A resident visa and citizenship in a new country can bring many benefits and advantages for the applicants and their families. Essentially, Portuguese citizenship is highly beneficial for investors looking for global mobility without giving up the citizenship of their home country.
Moreover, a citizen of Portugal is considered a citizen of Europe and can work and live freely across the entire region. Furthermore, children born after gaining citizenship automatically become citizens. There is no need to renew your visa, and you will not face deportation. You also get the right to vote and other social benefits. You may apply for government and high-security positions after becoming a citizen.