From January 1, 2022, the Portuguese authorities have announced that the country’s Golden Visa Scheme will be subjected to various significant modifications. The exclusion of Lisbon, Porto, and the Algarve as regions qualified to acquire homes and flats is one of the latest amendments to Portugal’s Golden Visa Program.
Nevertheless, the administration has stated that the current €500,000 required minimum amount for property investment would not be modified.
There are a few more modifications, such as capital investments and business investments. Keep reading to learn more about the requirements and eligibility for a Portuguese golden visa.
Investment options for golden visa
Donation
- Contribute at least €250,000 to maintain Portugal’s traditional legacy.
- Contribute at least €500,000 to a Portuguese scientific and technology project.
Company
- As the primary candidate, you must create at least five employment positions in a Portugal firm that you control.
- Generate at least eight new full-time posts in a country company founded in a low region of Portugal and controlled by the primary candidate.
- Fund at least €500,000 in an established Portugal company, which must generate at least five new full-time positions over three years.
Find commitment
- A required investment of €500,000 in an eligible Portugal firm.
Transfer of capital
- A minimum financial transaction of €1.5 million to Portugal is required.
Purchasing real estate
- Acquire property in the country valued at more than €500,000. If you live in a small region of Portugal, the minimum value is reduced by 20% to €400,000.
- Purchase real estate in Portugal that is more than 30 years old and located in a city restoration region, and restore it for a minimum of €350,000.
- The purchase of property investment does not have to be for a single home. The deal may comprise the acquisition of several homes as long as the overall required sum is satisfied.
- In contrast, if numerous candidates acquire a home with a higher sale price, they may pool their funds.
Documents
In case of applying for a Golden Visa, you must submit the following papers:
- a photocopy of a passport given by the ministry
- Invoice of ARI file deposit
- Certificates demonstrate compliance with the country’s Taxation Agency and the Social Welfare Agency.
- A certified statement that the low capital criteria have been met for the five years
- A felony conviction of the existing home country
- A signed paper was giving SEF permission to examine criminal histories in Portugal.
- Evidence of medical insurance
- Statement from Portuguese commercial bank verifying the money transfer
- Verification of the eligible investment made by the primary candidate
The request for a Golden Visa in Portugal is simple. A complete list of actions to follow to ensure a smooth application procedure is provided below.
Step one: First and foremost. You must weigh the pros and cons of the various investment options and determine which is best for you.
Step two: You must collect all required documentation for you, the primary candidate, and any family members that are included in your request.
Step three: Open a bank account in Portugal.
In Portugal, obtaining a NIF and establishing a bank account can be completed in less than a day. You can subcontract this duty to your attorneys to accomplish without having to be present in the nation.
Step four: After establishing a bank account in the country, pay up and complete your investment.
Step five: You will file your pre-application to SEF digitally once you have made your eligible investment and prepared all of your documents. Your legal team will handle this for you and alert you if something is incomplete most of the time.
Step six: You and your family must physically appear at the respective SEF offices on the scheduled interview day to provide your biometrics and legalize your registration.
Step seven: Your Golden Visa residency permits are given to you and your family. The papers will be collected by your lawyer or expert counselor and sent to you. Each passport has a two-year time limit, after which you must update your Golden Visa permit to acquire a new one.
Step eight: You can file for long-term resident status or nationality in Portugal after renewing your first Golden Visa card
