A Complete Guide To Portugal Golden Visa in 2021
Portugal’s Golden Visa is one of Europe’s and the world’s most popular residency-by-investment programs. The offering first began in October 2012, and nearly 10,000 families have earned Golden Visas since then.
Why Do People Want To Get the Portugal Golden Visa?
– It provides a variety of reasonably low-cost investment options for obtaining your resident permit.
– You only need to visit Portugal for a total of seven days per year.
– It entitles you to visa-free travel in the Schengen Area.
– Within five to six years, you can become a Portuguese citizen.
– Portugal is not on any blacklists, and its Golden Visa program is not on any blacklists, either.
– Portugal is a clean, stable and affordable country with a high quality of life, well-developed infrastructure, a pleasant environment, and well-developed health and educational systems.
Table Of Contents
What is the Portugal Golden Visa?
The Portugal Golden Visa program, also known officially as the residence permit for investment activity (ARI), is EU resident by investment program.
The program began in October 2012 in Portugal. The key goal was to draw foreign capital into the country, which was desperately needed following the 2008 financial crisis and the Eurozone debt crisis. The initiative was a huge success, bringing in €5.5 billion in just over eight years.
Portugal has a dreamy landscape, a long coastline, a warm environment, friendly people, and delectable cuisine. Even better, it offers this high standard of living at a very low cost of living. These characteristics make Portugal a very appealing investment destination for international investors seeking to live, work, and study in the country.
In addition, under the Portugal Golden Visa program, you can become a permanent resident or a citizen of Portugal in just five years.
What Are The Advantages of Portugal Golden Visa?
The Schengen Area central system registers you with the Golden Visa permit. As a result, you are free to travel across Europe without the need for an additional visa.
If you intend to apply for Portuguese citizenship after five years, you will be able to obtain a Portuguese passport. The Portuguese passport, which ranks toward the top among all passports, allows you to fly to 188 destinations without requiring a visa (as of the year 2021).
Studying, Working and Living In Portugal
You can live, work and study in Portugal with the Portuguese Golden Visa. You must have medical insurance if you want to live in Portugal full-time with this permit. However, you will have full access to all government facilities, including healthcare and education. While there are several private British and American international schools, state schools follow the Portuguese curriculum. The work permit enables you to work anywhere in Portugal and to start and run your own company.
Bringing Dependents To Portugal
You have the right to extend the Golden Visa to your family members if you are the main applicant. The main applicant and dependents go through the application process at the same time.
The following members of the family are eligible to apply:
- Children (below the age of 18)
- Dependent children (below the age of 26) only if they are full-time students and unmarried
- Parents of the main applicant (if they are 65 years and older)
Portugal’s Citizenship and Passport
You will be able to apply for citizenship after five years of holding a Golden Visa in Portugal.
To be qualified for citizenship, you must meet the following requirements:
- There are no overdue tax payments in Portugal.
- You have no criminal history in Portugal or your home country.
- You took a basic language exam in Portuguese and passed it.
The details of the Portuguese language test will be discussed later in this article.
If you spend fewer than 183 days in Portugal during the year, you will not be a tax resident. If you do, you will become a tax resident.
For foreigners considering relocating to Portugal and becoming tax residents, Portugal has a favorable tax regime. The country provides a foreign income tax shield for the first 10 years of residency through the non-habitual residency (NHR) program. In 2020, the program was slightly altered to exclude overseas retirees from receiving tax breaks on their pension payments. The NHR status ends if you become a Portuguese citizen.
Applicants for a Golden Visa have the option of living and working in Portugal, but it is not necessary. Those who want to move to Portugal will benefit from a favorable tax regime. The applicants are allowed to travel freely in Europe’s Schengen Area. After five years of keeping a Golden Visa, applicants may apply for citizenship or permanent residency in Portugal, which will result in a passport. The owner of a Portuguese passport is free to live, work and study anywhere in the European Union.
What Type of Investment Qualifies for a Portugal Golden Visa?
Acquire real estate in Portugal worth more than €500,000.
- The minimum investment decreases by 20% to €400,000 if it is in a low-density region of Portugal.
Purchase real estate in Portugal that is more than 30 years old and located in an urban recovery area, and renovate it for a minimum of €350,000.
- The minimum investment decreases by 20% to €280,000 if it is in a low-density region of Portugal.
- The minimum investment includes both the purchase price of the property and the expense of renovations.
The purchase of real estate does not have to be for a single property. The agreement may involve the purchasing of several properties as long as the total minimum investment requirement is met.
In contrast, if several applicants are purchasing a property with a larger purchase price, they can pool their funds. This means that if two siblings buy a €1 million real estate, they can each apply for the Portugal Golden Visa if they invest a total of €500,000.
A minimum capital transfer of €1 million to Portugal is needed.
A minimum investment of €350,000 in a qualified Portuguese fund
A minimum of 10 new full-time positions must be created in a Portuguese company run by the main applicant. Or you can create at least eight new full-time jobs in a Portuguese company established in a low-density region of Portugal and owned by the main applicant. Or, invest a minimum of €350,000 in an established Portuguese business, which must generate at least five new full-time jobs over the course of three years.
Invest a minimum of €250,000 in maintaining Portugal’s national heritage.
Invest a minimum of €350,000 in a Portugal-based research and development project.
Can You Use Loans To Invest In Portugal?
A popular question is whether you should finance your Golden Visa investment in Portugal with a loan or a mortgage. Portugal anticipates that the main applicant will carry in the appropriate investment from outside the country. As a result, a loan for the minimum amount cannot be obtained from a Portuguese financial institution.
You can, however, borrow the money from a non-Portuguese financial institution and carry it into Portugal. Furthermore, if your investment reaches the minimum requirement, nothing is preventing you from borrowing the difference from a Portuguese bank.
What are the Portugal Golden Visa Requirements?
Who is Eligible for the Portugal Golden Visa Program?
The Portugal Golden Residency Visa is open to non-EU/EEA/Swiss nationals. The main applicant must be at least 18 years old and have no criminal record in either his or her home country or in Portugal. The money for the investment should come from somewhere other than Portugal.
A qualifying investment must be made to be eligible for the program. Real estate, venture capital funds, capital transfers, business formations and donations are all examples of investment categories. A list of qualifying investments can be found later in this guide.
Are U.S. Citizens Eligible to Apply for this Program?
The Portuguese Golden Visa is open to citizens of the United States. For U.S. tax residents, foreign-owned real estate offers numerous benefits, making the program’s real estate investment choice particularly appealing.
Taking advantage of the Golden Visa program, American business owners can choose to extend their operations to Portugal. Portugal’s tax benefits make it a desirable location for relocation.
Are U.K. Citizens Eligible to Apply for this Program?
British investors in the United Kingdom and around the world are preparing for the effects of Brexit on their travel capabilities. U.K. passports have lost their freedom of movement in the Schengen Area as of Jan. 1, 2021. They will require a visa waiver. Portugal is attractive to British people for three reasons: long-term European travel privileges, a desirable lifestyle and, finally, European citizenship by investment.
U.K. residents are now qualified to apply for Portugal’s Golden Visa program as of Jan. 1, 2021. Having the visa would entitle them to travel freely within the Schengen Area.
Are LGBTQ+ Partners Allowed to Apply for this Program?
In terms of LGBTQ+ rights, Portugal is a very progressive country. It is one of the world’s most LGBT-friendly nations. In the country, same-sex couples are recognized and same-sex marriage is legal. As a result, same-sex couples may apply for the Golden Visa as dependents under the family reunification program.
Minimum Residency Requirement
The Golden Visa program in Portugal has a minimal stay requirement. Residents with a Golden Visa must spend a minimum of seven days per year in Portugal on average.
Initial resident permits are now valid for two years (up from one year) and subsequent permits are now valid for three years each as of April 2020. This was due to a reform in Portuguese immigration legislation. If the change is permanent, the initial card, which is valid for two years, is likely to require the holder to spend at least 14 days physically in Portugal during that period. The renewal cards will then be valid for three years, and applicants must spend at least 21 days physically in Portugal during those three years.
Make and Maintain a Qualified Investment for Five Years
The applicant must provide proof that he or she has personally invested the requisite minimum sum. As the primary claimant, you must keep the investment for as long as you and your dependents have a Golden Visa.
The investment does not need to be sustained after you become a permanent resident or a Portuguese citizen. After that, you can sell whatever investment you have.
Documents Needed for a Portugal Golden Visa application
In order to qualify for a Golden Visa, you must submit the following:
1) A copy of a passport or other travel document issued by the government.
2) Proof of the main applicant’s individual qualifying investment. If it’s real estate, a deed or promissory sale arrangement with proof of deposit payment. If you’re investing in a fund, you’ll need confirmation of your subscription from the fund’s management.
3) A statement from a Portuguese financial institution verifying the fund transfer.
4) Proof of medical coverage. If in Portugal, from the Portuguese National Health System. If you live outside of Portugal, get insurance from a business that is globally recognized.
5) A background check (including criminal record) of your present country of residence. The certificate must be given within three months of the submission of the form.
6) A completed form granting Portuguese immigration authorities (SEF) permission to access criminal records in Portugal.
7) A sworn declaration that the minimum investment conditions have been met for the five years required.
8) Documents demonstrating compliance with the Portuguese tax and customs authority as well as the social security system. It is important to know that these documents must be issued within 45 days of submitting the form.
9) ARI program payment receipt. Unless otherwise stated, the paperwork should be issued within three months of the submission of your Golden Visa application.
All of the above documents must be legalized if they were issued by a non-Portuguese entity. If the subject country is a signatory to the Hague Convention, the legalization must have an apostille.
Any non-Portuguese original text must be translated into Portuguese and approved. A notary is usually the one who performs the certification.
You have to pay it once at the beginning and then at each renewal. It is €533.90 for the main applicant, and there is an additional €83.30 per dependent.
Initial Application Fee
You have to pay it once at the beginning. It is €5,336.40 per person.
Renewal Application Fee
You are required to submit it at each renewal. It is €2,668.20 per person.
It is charged as progress payments. It differs between law firms and investment types.
Bank Account and NIF Number
Portugal requires that you, the main applicant, contribute to a Portuguese bank account. As a result, having a bank account in a Portuguese bank is needed. To open the account, you’ll need a NIF number, which is a tax identification number in Portugal.
Obtaining a NIF number and opening a bank account in Portugal are both relatively simple processes. Both can be completed in a half day.
Obtaining a NIF Number
To obtain a NIF number, you must first obtain proof of residency from your home country. Bring your government-issued identification and proof of address to a Finanças office in Portugal. You will receive your NIF number within an hour. You may also give your lawyer a power of attorney, allowing him or her to complete the process even though you are not in Portugal.
Opening A Bank Account
Unlike many other countries, Portuguese banks make it simple for non-residents and foreigners to open a bank account. In comparison to the rest of Europe, banking and maintenance fees are also very modest. Simply follow the measures outlined below.
What You’ll Require:
A passport or other government-issued travel document is required.
- NIF (National Insurance Number)
- Portuguese phone number
- A copy of your country of residence’s proof of address
- A proof of income
What you need to do is:
Go to the bank and open a new account.
That’s all there is to it. Typically, each law firm collaborates with one or more banks and branches. To keep things going quickly, it’s best to seek their advice.
Step-by-Step Process for the Golden Visa Portugal
The application for a Golden Visa in Portugal is easy. A full list of steps to follow to ensure an effective application process is given below.
1) Decide on Your Investment Type
First and foremost, you must weigh the pros and cons of the various investment options before deciding which one to pursue. Tip: More than 90% of all Golden Visa applicants in Portugal have decided to pursue a real estate purchase. Nonetheless, in recent years, the fund alternative has gained popularity.
2) Gather all the Necessary Documents
You must gather all necessary documentation for yourself, the main applicant, as well as any dependents you may have. With all the translations, notarizations, apostilles and certifications, this phase can become tedious. A competent attorney, on the other hand, will help you avoid boredom.
3) Get a NIF and Open a Bank Account
As previously mentioned in the article, obtaining a NIF and opening a bank account in Portugal can be completed in as little as one day. You can assign this task to your lawyers to complete without having to be present in Portugal.
4) Finalize the Investment
It’s time to pay up and secure your investment in Portugal now that you’ve decided which investment type to go with.
5) Submit the Pre-Application
You will apply your pre-application to SEF online once you have made your qualifying investment and have all of your paperwork ready. Most of the time, the law firm will do this for you and advise you if anything is missing.
From the moment you send your documents to your appointment date, it usually takes about two months.
6) Schedule and Attend Your SEF Appointment
SEF will provide you with a list of available dates for a biometrics appointment after reviewing your pre-application. You and your dependents must physically appear at the corresponding SEF office on the scheduled appointment date to submit your fingerprints and make your application official.
7) Get Your Golden Visa and Renew
Yes, that’s it! Your Golden Visa resident cards are given to you and your dependents. The cards will be collected by your law firm or attorney and sent to you. Each card has a two-year expiration period, during which you must renew your Golden Visa card to obtain a new one.
In normal circumstances, it takes about four months from the time you schedule your biometrics appointment to the time you collect your cards.
8) Become a Portuguese Citizen
You will be able to apply for permanent residency or citizenship in Portugal after renewing your initial Golden Visa card annually for five years. The process of applying for citizenship will take anywhere from six months to a year. You will no longer be required to retain your investment in Portugal once you have obtained permanent residency or citizenship.
What is the Timeline for the Portugal Golden Visa Process?
The initial application and supporting documentation are sent to the Serviço de Fronteiras e Estrangeiros (SEF) online. SEF is Portugal’s official immigration and border services agency. After they’ve approved your application, you’ll have to go in for a face-to-face interview.
SEF offices can be found all over Portugal, and you can apply for one of them regardless of where you made your investment. You’ll be able to avoid areas with long lines, such as the SEF office in Lisbon. As long as it is not one of the high-demand places, it can take up to six months for SEF to approve and include a biometrics appointment date.
You and all your dependents will book the SEF appointment at the same time if you are the main applicant. You will collect your Golden Visa cards after the in-person interview. The time it takes to collect these residency permit cards is usually about four months.
The day your Golden Visa card is released, your residency clock starts ticking.
First and Second Year
For the first two years, your Golden Visa residency card will be valid. You must spend a total of 14 days in Portugal during these two years.
You must renew your residency permit at the end of this period. So, between 30 to 90 days before your card’s expiration date, you must schedule another SEF appointment to renew your cards. You must resubmit up-to-date documents (such as criminal records), biometrics and the required application processing fee for renewal.
Year Three To Five
Your Golden Visa resident permit will be valid for three years after it is renewed. You must spend at least 21 days in Portugal during those three years.
You have three options at the end of the fifth year. They are:
1) Fill out an application for permanent residency in Portugal.
2) Apply for Portuguese citizenship.
3) Continue with the Golden Visa program for temporary residency.
If you want to become a permanent resident or a citizen of Portugal, you will no longer be required to retain your Golden Visa investment.
All Golden Visa cardholders, including primary applicants and dependents, must meet the above application, stay and renewal conditions.
What are the Government Fees and Legal Costs Related to a Golden Visa?
You need to pay legal fees and government application fees in addition to the required investment and the requisite fees associated with the transaction of the investment property. A full list of all related costs can be found below.
You need to pay it once at the beginning and then at each renewal. It is €533.90 for the main applicant and an additional €83.30 per dependent.
Initial Application Fee
You need to pay it once at the beginning. It is €5,336.40 per person.
Renewal Application Fee
It is charged at each renewal. It is €2,668.20 per person.
The legal fees are determined by the law firm in whom you want to practice.
Since the Portugal Golden Visa investment is so large, it’s best to entrust your due diligence, as well as the application and renewal process, to an experienced law firm. The legal fees will add up quickly, so it’s best not to take any risks by hiring a newcomer to the profession.
For a family of four, the payments will range from €10,000 to €30,000 over five years. The good news is that you won’t have to pay it all at once; instead, you’ll be able to pay it in instalments over the course of five years, depending on how many tasks you complete.
We will be delighted to refer you to a variety of different experienced law firms specializing in Portuguese Golden Visa matters.
Costs Related to Investment
The related costs vary depending on the type of investment you choose. The following table summarizes the costs associated with the three most common investment types: real estate acquisition, fund investment and capital transfer:
Real Estate Property
IMI Transfer Tax
35% of the profit*
* Depending on the investment, the performance fee is typically 20% to 50% above a benefit threshold.
** The annual management fee varies depending on the investment, but it is typically between 1% and 2% of the invested sum.
*** Legal fees vary widely depending on law firms, the number of dependents and other factors. However, they will not differ significantly between investment options.
What are the Portuguese Golden Visa Tax Implications?
The terms “tax residency” and “legal residency” are not interchangeable. Being granted a Golden Visa in Portugal does not automatically make you a tax resident of Portugal. You can, however, pay taxes on your investment in Portugal even though you are just a legal citizen, as long as the investment produces income.
If you wish to become a tax resident in Portugal, you must spend more than 183 days in the country during the fiscal year. The non-habitual resident (NHR) tax program offers some appealing benefits to being a tax resident in Portugal.
Non-Habitual Resident (NHR) Tax Program
Portugal draws professionals and investors with high cultural and economic value to the country through the non-habitual resident (NHR) tax regime. Foreigners in eligible occupations who intend to relocate their tax residency to Portugal will benefit from this program, which offers substantial tax savings.
Since its inception in 2009, the program has attracted over 10,000 applicants. The policy underwent a few reforms in 2020, mostly to prohibit overseas retirees from receiving tax benefits on their pension income.
Real Estate Tax Implications
Purchasing a property in Portugal entails a range of expenses, which we discussed earlier in this guide.
The costs of real estate acquisition taxes are substantial, but they do not end there. If you rent out your property, you’ll still have to pay annual local taxes and rental income taxes.
Annual Local Taxes
The annual tax rate that property owners in Portugal must pay is known as the Imposto Municipal Sobre Imoveis (IMI). Depending on the form, age, and location of the real estate, the IMI tax rate varies from 0.3% to 0.8%.
Property Rental Taxes
Rental income from a Portuguese property is still taxable in Portugal, regardless of where you live. The flax tax rate on net rental income is 28%. This tax figure can be reduced by deducting maintenance, repair costs, and IMI.
If you plan to rent out your property to visitors for a short period, your rental income taxes will be different. Capital gains tax applies to property acquired after 1988 if you wish to sell it for a profit in the future.
Changes Made in Portugal Golden Visa Program For 2022
In February 2020, the Portuguese Parliament approved a budget resolution that aims to reform the Portuguese Golden Visa policy. The parliament’s goal is to encourage investment in low-density areas, urban regeneration, job creation and cultural heritage preservation.
The Portuguese government announced the official reforms and their timetable in February 2021.
What Are the Changes?
The accepted changes are divided into two categories:
To Be Raised the Requisite Investment Amounts in the Various Portugal Golden Visa Investment Types:
1) The Investment Fund option will be raised from 350,000 euros to 500,000 euros.
2) The capital transfer option will be raised from 1 million to 1.5 million euros.
3) There will be a rise in other options as well.
The Real Estate Investment Route In Portugal Would Only Cover Property Investments in Low-Density Areas.
1) Purchasing real estate in Lisbon or Porto would no longer be eligible for the Golden Visa program.
2) The properties must be situated in the Azores and Madeira Autonomous Regions or the interior territories.
The most famous real estate acquisition destinations in Portugal among Golden Visa applicants have been Lisbon and Porto. The proposed reforms, however, would only enable real estate transactions in interior municipalities or the autonomous regions of Azores and Madeira to be eligible for the program. As a result, this is a significant change.
When Will the Changes Be Implemented?
The amendments to the Portugal Golden Visa will take effect on Jan. 1, 2022. At the end of 2021, the existing specifications will remain in place. As a result, you can take advantage of the lower investment sums and invest in a property anywhere in Portugal at any time of year.
Objectives Behind the Changes
The Portuguese Parliament has decided to make improvements to what is arguably Europe’s most popular residency-by-investment program. This suggestion is being made for a variety of reasons.
1) To prevent residents in major cities from being forced to relocate due to rising costs.
2) To encourage investment in Portugal’s interior regions.
3) To relieve the European Commission’s pressure on Portugal’s residency-by-investment policy.
Real estate acquisition is the most common type of investment for the Portugal Golden Visa. Lisbon and Porto were overwhelmingly selected as investment destinations by Golden Visa real estate investors.
Applicants will be unable to purchase real estate in major cities such as Lisbon and Porto as a result of this potential move. Nonetheless, parts of the Algarve region in the south and areas like Braga and Guimaraes in the north remain popular tourist destinations in Portugal’s interior municipalities.
Prospective Golden Visa applicants will continue to have access to non-real estate investment opportunities, such as capital transfers and business formations.
Frequently Asked Questions
Which Golden Visa program is the best?
It is debatable. It depends on the investor’s criteria, and there are a lot of variables to consider when answering that query. Nonetheless, in contrast to the Spanish and Greek Golden Visas, the Portuguese Golden Visa stands out for those seeking European citizenship. More information is available in our guide comparing the Golden Visa programs of Portugal, Spain and Greece.
What is Portugal’s Golden Visa?
It is a residence-by-investment program provided by the Portuguese government to non-EU, non-EEA, and non-Swiss residents who are able to invest in Portugal. It is an investment immigration program that brings funds into the Portuguese economy from foreign investors.
What are the advantages of the Golden Visa?
Visa-free travel between Schengen countries, the freedom to live and work in Portugal, the opportunity to include each qualified family member in the residency program, and the possibility of applying for Portuguese citizenship after keeping the Golden Visa for at least five years are all benefits of the Portugal Golden Visa.
Which requirements do investors have to comply with?
The main applicant must be an 18-year-old non-EU, non-EEA, and non-Swiss resident who makes a qualifying investment in Portugal.
What are the specific requirements for each type of qualifying investment?
Purchasing real estate in Portugal worth at least 500,000 euros or purchasing real estate in an urban rehabilitation project worth at least 350,000 euros. Both amounts decrease by 20% if the investment is made in a low-density population region of the nation.
A 1-million euro capital transfer to a Portuguese bank account or 350,000-euro subscription to one of the eligible Portuguese venture capital funds
Job creation: At least 10 jobs are to be created in Portugal.
Contribution in cash: 250,000 euros for cultural heritage or 350,000 euros for research conducted by public or private scientific research institutions.
Who in my family can qualify as a dependent?
Via family reunification, the main applicant’s spouse, minor children, dependent children, and dependent parents may all receive a Golden Visa.
How much does the process of obtaining the Portuguese Golden Visa cost?
The cost of a Golden Visa is determined by the investment route taken. There are procurement costs, legal costs and Golden Visa fees charged to the Portuguese government in addition to the deployed number.
How long is the wait/processing time for the Golden Visa in Portugal?
The waiting period for a Golden Visa application varies greatly depending on which SEF (immigration and border officials) office you applied to. SEF offices in major cities, such as Lisbon, usually have long lines, while those in rural areas have shorter lines. Currently, it takes six to eight months to collect your Golden Visa resident card from the time you make your investment.
Should all supporting documents be translated to Portuguese?
The majority of the documents required for a Portugal Golden Visa must be translated into Portuguese or English. The specifics of the necessary documentation can be found in this guide.
Can you invest in a limited company?
The primary applicant must make the Golden Visa investment on his or her own. The only exception is if the main applicant forms a corporation and invests at least €1 million in its money. The limited partnership will then use the capital to make investments on behalf of the founder.
Can I take a mortgage to make my investment?
Portugal needs the main applicant to bring the required investment sum into the country. A bank in Portugal will not lend you that number. Outside of Portugal, it can be obtained as a loan from a non-Portuguese bank. However, if the investment exceeds the minimum investment sum, the excess can theoretically be lent from a Portuguese bank.
Can I do the Golden Visa Portugal process on my own?
You are free to do so. However, you’ll be making a major investment in order to qualify for the Portuguese Golden Visa. So, it’s strongly recommended that you use a competent attorney and a legal representative in pursuing the program.
Do I need to get a lawyer for the Golden Visa application?
While you are not expected to hire a lawyer to apply for the Golden Visa, it is highly recommended that you have a local Portuguese lawyer assist you with the procedure.
What are the Portugal Golden Visa Tax considerations?
You are not automatically a tax resident of Portugal if you have a Golden Visa. You do not have to pay taxes on your non-Portuguese income until you become a tax resident in Portugal. Your income earned within Portugal, on the other hand, must be reported and taxed in the country. You won’t be taxed twice on the same income thanks to double taxation treaties.
What taxes apply to income generated in Portugal?
In Portugal, the real estate rental income is taxed at a flat rate of 28%. There is no income tax on real estate properties that are not leased out or generate income.
Does the investor have to pay taxes in Portugal on his/her worldwide income?
No, the investor is not a domicile resident if he or she does not spend 183 days or more in Portugal in a year. In that case, the taxpayer pays no taxes in Portugal on any profits earned outside of Portugal.
Is Portugal’s cost of living low or high?
In comparison to the rest of Europe, Portugal has a low cost of living. In our article on the cost of living in Portugal, we go over all the details.
Is it necessary for me to register in Portugal and pay social security contributions?
No. In Portugal, you are not allowed to register or pay social security contributions. You will, however, need private health insurance to cover your medical expenses in Portugal.
How is Portugal’s educational system?
Portugal’s public and private schools are of good quality.
What is a fiscal number?
In Portugal, a fiscal amount is known as a NIF. In order to conduct any official transaction in Portugal, you’ll need a NIF. This involves things like opening a Portuguese bank account and buying real estate.
What are the taxes and expenses of purchasing and owning a property?
Purchasing a property in Portugal is subject to several taxes and fees. IMT (which varies from 5% to 7%, depending on the form and price) and stamp duty are two examples (0.8%). Notary fees, which are estimated to be around €1,000, and legal fees, which vary depending on the law firm, are included in the costs. Golden Visa fees must be charged to the government if you are part of the residency permit by investment program
Is it necessary for me to live in Portugal or am I allowed to live in other countries?
If you have a Golden Visa, you are not required to live in Portugal full-time. All you have to do is spend at least seven days in Portugal each year. Aside from that, you are free to live in your home country or wherever else you choose.
Is it possible to apply for a Portugal Golden Visa using cryptocurrencies such as Bitcoin?
We are proud to accept Bitcoin for all of our fees at getting a Golden Visa. The Portuguese government, on the other hand, will not recognize any currency other than Euros as payment for the Portugal Golden Visa investment.
Can Americans apply for a Golden Visa in Portugal?
Yes, residents of the United States are eligible to apply for a Golden Visa in Portugal. There is nothing wrong with you originating in the United States.
Can Russians apply for a Golden Visa in Portugal?
Yes, Russian people may apply for a Golden Visa in Portugal. Applicants with Russia as their country of origin make up the fourth-largest nationality category in the applicant pool for the program.
Can citizens from Hong Kong apply for a Golden Visa in Portugal?
Yes, Hong Kong residents can apply for a Golden Visa in Portugal. In the years 2020 and 2021, the program was extremely successful in Hong Kong.
Is it possible for U.K. citizens to apply for a Portugal Golden Visa?
Yes, as of Jan. 1st, 2021, British citizens will apply for Portugal’s Golden Visa now that Brexit is complete. The program enables British citizens to fly freely across Europe. Learn more about the Golden Visa for U.K. residents in Portugal.
Should I steer clear of those Golden Visa consulting firms?
Yes, without a doubt. Many inexperienced individuals and firms are claiming to provide services in the RCBI sector, just as there are in any other industry. Make sure you thoroughly investigate the company that will be advising you on such a large investment.
What is the best way for me to locate good real estate investment opportunities in Portugal?
Working with an experienced chartered real estate investment specialist is a good place to start if you want to find good real estate investment opportunities in Portugal. You may give them your requirements and request that they generate a shortlist of areas, towns, communities and then specific properties for you, in that order. Portugal’s real estate market has proven to be solid, with bright prospects for the future.
What is the most effective method for obtaining a Golden Visa in Portugal?
The best method is the one that meets the precise requirements. In other words, it is entirely dependent on the investor and his or her requirements. So far, the vast majority of Portugal Golden Visa investors have chosen to pursue a real estate investment.
What are the investment opportunities in Portugal for a Golden Visa?
Real estate acquisition, capital transfer, the development of 10 jobs and financial support in national activities in Portugal are among the Golden Visa investment routes. The details of each route can be found in this guide.
Which Golden Visa investment funds are available?
There are a variety of venture capital funds on the market, each with its investment strategy and features that qualifies its subscribers to apply for the Golden Visa Portugal. Please contact us for a complete list of funds and their contact details.
When will I be able to apply for Portuguese citizenship and a passport?
At the end of your fifth year as a Golden Visa holder, you will apply for citizenship in Portugal. After you have been naturalized as a citizen, you can apply for a passport right away.
What are my options for obtaining Portuguese citizenship-by-investment?
Via Portugal’s Golden Visa, you can obtain a temporary Portuguese residency permit by investing in a qualifying investment. You can apply for naturalization in Portugal after receiving your Golden Visa, as long as you keep your investment for five years.
Is it possible to have dual citizenship in Portugal?
Yes, dual citizenship is permitted in Portugal.
Does a Golden Visa in Portugal lead to citizenship?
Yes. Indirectly, the Golden Visa Portugal contributes to citizenship. After a five-year cycle with the Golden Visa has passed, you can apply for citizenship.
How much does it cost to become a resident of Portugal?
If you want to apply for citizenship via the Golden Visa Portugal program, it is up to you to decide which eligible investment to pursue. You will find a full list of these choices in the preceding section of this article.
Is a language test needed for the Golden Visa?
No, passing a language test is not needed to be eligible for the Golden Visa. If you wish to become a permanent resident or citizen of Portugal after five years on a Golden Visa, you just need to pass a Portuguese examination. On our Portuguese Language Test Guide, you will read more about the A2 level exam.
What does it mean to have “basic knowledge” of Portuguese?
You must be able to write, read and speak in Portuguese at a basic level to demonstrate your basic knowledge of the language. This involves an in-depth knowledge of popular phrases and vocabulary.
Is level A2 the only exam that will be accepted?
Yes, the A2 level Portuguese language test is the only exam that can meet Portugal’s citizenship requirement.
Where can you learn Portuguese and prepare for the test?
There are numerous resources available online to help you prepare for the Portuguese exam. Offline courses are usually available at the Portugal and Brazil embassies, depending on where you are. Please contact us if you have any questions about the resources.
When do you have to take the test?
Just take the Portuguese exam if and when you wish to apply for permanent residency or citizenship in Portugal. During your Golden Visa residency status, however, you are free to take the test whenever you want.
Is it necessary for me to study Portuguese before obtaining citizenship?
Yes, you can study Portuguese to the point that you might pass an A2-level language test. This equates to a simple command of the language.
Is it possible for same-sex couples to apply for a Portugal Golden Visa?
Yes, by family reunification, Golden Visa applicants may include their same-sex partners in the program.
Is Portugal welcoming to LGBT people?
Yes, Portugal is one of Europe’s most LGBT-friendly nations. There is favorable legislation in place, as well as widespread public acceptance.
What is the validity of the Golden Visa?
Your first Golden Visa card is valid for two years; you must meet the 14-day stay condition during those two years. After that, you can renew your Golden Visa resident card, and each subsequent card will be valid for three years. You should spend at least 21 days in Portugal during those three years. You can renew your Golden Visa card as many times as you want as long as you keep up with your investment.
Which countries are part of the Schengen Area?
Austria, Belgium, the Czech Republic, Denmark, Estonia, Finland, France, Germany, Greece, Hungary, Iceland, Italy, Latvia, Liechtenstein, Lithuania, Luxembourg, Malta, the Netherlands, Norway, Poland, Portugal, Slovakia, Slovenia, Spain, Sweden and Switzerland are among the 26 Schengen nations.
What happens to the investment after five years?
As a Golden Visa holder, you have three options: (1) proceed with the Golden Visa Portugal; (2) become a permanent resident; or (3) become a Portuguese citizen. You can sell or liquidate your investment if you want to become a permanent resident or a Portuguese citizen. If you wish to stick with the Golden Visa temporary residency scheme, you just need to keep it.
If the investor no longer needs the Golden Visa, will he or she sell the investment at any time?
Yes, without a doubt.
Is it necessary for the investor to live in or use the property he or she is buying, or can it be rented out?
The real estate is not expected to be lived in or used by the investor. It can be leased out or used for whatever purpose the investor desires.
Why should you get a Golden Visa?
There are many advantages to obtaining a Golden Visa in Portugal. These rights include the ability to work and live in Europe, as well as the freedom to travel freely within Europe, and, in particular, the ability to apply for EU citizenship after five years.
What is the most popular Golden Visa Portugal investment route?
So far, the most common route for obtaining a Golden Visa in Portugal has been through real estate investments. The number of applications received and their preference routes are detailed in the statistics section above.
What are my options for obtaining permanent residency in Portugal?
Permanent residency in Portugal can be obtained in a variety of ways. One of the most common methods is to apply for a Golden Visa in Portugal.
How long would it take to obtain permanent residency in Portugal?
You will apply for permanent residency in Portugal five years after you start your Golden Visa program.