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PROGRAM OVERVIEW
PORTUGAL RESIDENCY LAW
On February 12, 2021, Portugal’s authorities introduced significant changes to the Golden Visa program under Decree-Law No. 14/2021, which came into effect on January 1, 2022. The updated regulations restrict residential real estate investments to specific regions of the country. Under the new law, residential properties in Lisbon, Porto, and the Algarve are no longer eligible for Golden Visa qualification. Instead, investments are now limited to the interior regions of Portugal, as well as the autonomous regions of Madeira and the Azores. In addition, on July 4, 2023, Law 23/2007 was amended to focus investment activities on sectors such as job creation (at least 10 jobs), investment funds, scientific research, arts and culture, and businesses creating a minimum of 5 jobs. Real estate investments are no longer permitted as part of the qualifying activities for the Golden Visa.
PROGRAM BENIFIT
PORTUGAL VISA FREE COUNTRIES
The Portuguese residency permit allows visa-free travel to 27 European countries in the Schengen Area.
INVESTMENT TYPE & COST
The Golden Visa is a residency by investment program allowing third-country nationals to obtain a temporary residence permit through an investment activity in Portugal.
APPLICATION PROCESS AND TIMELINE
Initial CONSULTATION (1.MONTH)
– Applicant contacts I VISA SERVICES for consultation.
– I VISA SERVICES assesses applicant’s eligibility and provides guidance on required documents and investment options.
DOCUMENT PREPARATION (3-4.WEEK)
– Applicant gathers necessary documents such as passport, proof of funds, criminal record clearance, etc.
– I VISA SERVICES assists in preparing and organizing documents according to Portuguese Golden Visa requirements
INVESTMENT SELECTION (3.MONTH)
– Applicant selects the preferred investment option (real estate, capital transfer, etc.).
– I VISA SERVICES provides guidance on suitable investment opportunities and assists in due diligence.
APPLICATION SUBMISSION (4.MONTH)
– Completed application forms and supporting documents are submitted to the Portuguese Immigration and Borders Services (SEF) by I VISA SERVICES on behalf of the applicant.
SEF REVIEW (5.MONTH)
– SEF reviews the application and may request additional documents or information.
– I VISA SERVICES liaises with SEF and provides any requested documents promptly.
APPROVAL AND RESIDENCY (6.MONTH)
– Upon approval, applicant receives a Golden Visa residence permit.
– I VISA SERVICES assists in the collection of the residence permit and provides support for any relocation logistics.
ELIGIBILITY REQUIREMENTS
REQUIRED DOCUMENTS
At I VISA SERVICES, we specialize in providing efficient and seamless support for acquiring Portuguese Residency. Our dedicated team of experts is committed to guiding you through every step of the process, ensuring a smooth and hassle-free experience. With our personalized approach and in-depth knowledge of Portuguese immigration laws, we strive to help you achieve your residency goals swiftly and confidently.
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Documents required for applicants, including children
- Application form for the citizenship approval
- Notarised passport copy (certified with an apostille, if applicable)
- Original excerpt of Birth record or certified copy of Birth certificates
- Health insurance policy, valid in Portugal.
- A medical report assessing your health for infectious diseases.
- All adults must provide a clean criminal record in their country of birth and residence (if different). (Applicants above 16)
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Married couples need to provide the following if they apply for Portugal Golden Visa together
- Original excerpt of marriage record or certified copy of marriage certificates with Official Portuguese or English translation and legalised / Apostilled by the Portuguese Consulate in the Country of issuance.
- Certified copy of the divorce certificate with Official Portuguese or English translation and legalised/ Apostilled by the Portuguese Consulate in the Country of issuance (if applicable).
FAQ
Frequently Asked Questions
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What investment options qualify for the Golden Visa Program in 2024?
Portugal revamped its Golden Visa program in 2024, excluding real estate acquisition and capital transfer as qualifying investment options. However, applicants can still meet requirements through various avenues:
1-Investment in Private Equity or Venture Capital:A minimum investment of €500,000 in a fund regulated by the Bank of Portugal or the Portuguese Securities Market Commission.
2-Capital Transfer to a Portuguese Bank:Transferring at least €1.5 million to a Portuguese bank.
3-Job-Creating Investments:Establishing a minimum of 10 jobs in Portugal with full social security contributions.
4-Investing in Portuguese Businesses: Supporting Portuguese commercial sector businesses with a minimum investment of €500,000.5-Donations Towards Portugal's National Heritage and Art:Donating a minimum of €250,000 to cultural projects.
6-Funding Research Activities:Making a donation of at least €500,000 for research purposes in the private or public sector. -
Is Portugal Golden Visa worth it?
Portugal Golden Visa program is considered stable and supported by various political parties in Portugal, offering a high standard of living in terms of healthcare, climate, infrastructure, stability, safety, and education. On top of that, The Portuguese golden visa program remains the only route to a European Union passport without a minimum 6-month stay at its investment level. So whether the Portugal Golden Visa is worth it depends on individual circumstances, investment goals, and long-term plans. It is essential to seek assistance from expert consultants and authorized agency like Citizenship Invest.
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Does Portugal Golden Visa lead to citizenship?
Through the Portuguese Golden Visa program, you can pursue citizenship in Portugal. After renewing your initial Golden Visa card twice, totaling five years, you become eligible to apply for permanent residency or citizenship.
Unlike other countries, residing in Portugal is not a requirement for citizenship eligibility. To qualify for citizenship, you must have no outstanding tax obligations in Portugal and maintain a clean criminal record in Portugal and your home country.
The Portuguese residency card acquired via the Golden Visa program grants the holder the right to travel throughout the EU Schengen area, and this program paves the way for eventual Portuguese citizenship. -
What are the new rules for the Portuguese Golden Visa Program?
Removal of Real Estate Investment Options:The program no longer allows any form of real estate investment as a means to obtain the Golden Visa.
Introduction of New Investment Routes:New alternatives include investing in film production in low-density areas for €200,000 and other emerging opportunities.
Renewal Process:The initial residency permit is valid for two years, requiring a minimum physical presence of 7 days in Portugal for renewal.
Citizenship Eligibility:The 5-year residency requirement for citizenship eligibility now starts from the date of submitting the Golden Visa application, rather than from the date the residence permit is issued. This accounts for the processing time and reduces the total time to citizenship.
Effective Date:These changes took effect from October 7, 2023. -
What are the benefits of investing in qualifying funds for the Golden Visa?
The investment fund option allows you to recover your investment amount after 5 years, unlike real estate investments which are no longer eligible. This provides more flexibility compared to other investment routes. And the minimum investment required for a fund is €500,000, which is lower than the previous €1 million capital transfer option that is no longer available.