Golden Visa Scheme Portugal - What You Need To Know

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The Golden Visa Scheme is a residency program aimed at attracting foreign investment to Portugal. It is a fast-track method for non-EU members and their family members to obtain Residency Permits in Portugal, with no direct tax implications/obligations for income generated outside Portugal.

How to qualify for a Golden Visa?

The Golden Visa is only available for non-EU citizens.
There are three different ways to qualify for a Golden Visa. You can:


1. Invest in a property

When you invest at least 500.000 euro in property, you can apply immediately for the Golden Visa. This does not need to be one property; it can be spread over several properties and also includes co-ownership of properties.

When you invest at least 350.000 euro in a property (residential, commercial, land, etc) that was built more than 30 years ago, or is situated in an urban regeneration area. The price for the renovations can be included in this amount. The application for the Golden Visa can be done before the renovation works are finished but it is mandatory to provide the building contract that proves payment of the first invoices, and proof of application of a building license to the local city hall.


2. Invest in Capital

Capital investment of at least 1.000.000 euro

Capital investment of at least 500.000 euro for acquisition of participation units in investment funds, or for capitalization of small and medium size companies.

Capital investment of at least 350.000 euro for research activities carried out by the national scientific and technological system.

Capital investment of at least 250.000 euro to support artistic production/recovery/maintenance of national cultural heritage.

3. Create Jobs 

Create a minimum of 10 jobs

 

How to find the right investment for a Golden Visa?

At Property Specialists Algarve we specialize in properties and are therefore able to help you apply for a Golden Visa under No.1 - Property investment. With over 20 years of experience in the area, we are able to advise you to the perfect property for you. You can save time and effort as it is not necessary to look through the website endlessly to view pictures online: We take you on a journey along the finest properties to find the perfect fit. When we have found your property investment, you will go through the regular property buying process before applying for the Golden Visa.

 

The Golden Visa process in Portugal

During the property search, we will introduce you to a lawyer to whom you can ask more in-depth questions about your personal Golden Visa application. With your lawyer, you set up a Portuguese bank account and get a tax number to start the application process once the property is purchased. For more information about the property buying process, please click here. 

 Golden Visa process

  
The application takes place through your lawyer and can take up to 6 months or approval. If you want to apply for your family members as well, this application is done simultaneously. A processing fee is paid of 527.60 euro for the first applicant and 82.30 euro for other family members.
When your application is approved you pay an approval fee of 5274.40 euro per applicant. After more or less 15 days, you receive your residency card valid for 1 year. 

Year 1

Your application has been approved and you now have a residency card valid for 1 year with which you can travel freely within the Schengen Area. In this first year, you must spend at least 7 days in Portugal.
At the end of this first year, you have a renewal process for your next residency card. You can apply for your new residency card 30 days before the year 1 card expires. For the renewal process you have to retake biometrics (fingerprints etc), provide up-to-date criminal records and pay a fee of 2637.20 euro per applicant. Additionally, the cost for this renewal process is 527.60 for the first applicant, and 82.30 for other applicants (family members).
 

Year 2 & 3

You now have a new residency card, valid for two years. Within these two years, you need to be in Portugal at least 14 days (consecutive or non-consecutive). At the end of this two-year period, another renewal process takes place.
2nd renewal process: For the renewal process you have to retake biometrics (fingerprints etc), provide up-to-date criminal records and pay a fee of 2637.20 euro per applicant. Additionally, the cost for this renewal process is 527.60 for the first applicant, and 82.30 for other applicants (family members).
 
Year 4 & 5
You now have another residency card, valid again for two years. You need to be in Portugal again for 14 days, consecutive or non-consecutive. At the end of this period, the last renewal process takes place.  

3rd renewal process: For the final renewal process you have to retake biometrics (fingerprints etc), provide up-to-date criminal records and pay a fee of 2637.20 euro per applicant. Additionally, the cost for this renewal process is 527.60 for the first applicant, and 82.30 for other applicants (family members).

After the last renewal process, you can renew your Golden Visa or apply for permanent residency. For the application of Permanent Residency the applicant will take a Portuguese test – European reference level A2.
 

Year 6 

You now have either a renewed Golden Visa or Permanent Residency. At the end of this year, you can apply for citizenship. For the application of Citizenship the applicant will also take a Portuguese test. 

 

The Golden Visa Costs

Golden Visa costs

For more information about the buying costs of the property itself, please click here.

 

Which documents do you need for a Golden Visa in Portugal?

The documents you need to apply for a Golden Visa in Portugal are the following:

  • A Valid Passport

  • A Schengen Visa (with which you entered Portugal), if applicable

  • Declaration from a bank in Portugal confirming the transfer of the fund

  • Proof of investment
  • Medical insurance valid in Portugal for all members applying

  • Absence of criminal conviction in Portugal and of interdiction

  • Absence of notice from Portuguese Immigration Authorities or Schengen Services

  • Proof of ongoing education for children of 6 years of age and older. (including children over 18 years of age that are included in the application.) Proof can be a student card or confirmation of enrollment*
  • Proof of financial support to the family members

 

The following paperwork needs to be legalised (at a Portuguese consulate/Embassy of your country or with an Apostille for the Countries that are part of the Hague Convention) and translated into Portuguese (at consular services):

 

  • Criminal certificate from country of origin** (or police clearance certificate) of you, your spouse and your children over 16 years of age*
  • Marriage certificate

  • Birth Certificate of the children*

* only applicable for members who are applying for residency visas in their name
** Please note that criminal records are usually only valid for 3 months 

 

For help with the Golden Visa process feel free to contact us any time for free advice, information, or just to meet for a coffee! We hope to hear from you soon! :)
 
 
 

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Contact Info


Contacts

Property Specialists Algarve

Telephone +351 912 488 155

Telephone +351 913 340 733

info@propertyspecialistsalgarve.com
Address

Praca do Poder Local Lote 7, CV C, Lagos 8600-524, Algarve, Portugal

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Feel free to contact us at any moment for free advice, help, or just to meet for a coffee in Lagos! Leave us a note and we will come back to you asap. Speak to you soon!