The Portugal Golden Visa program has proven to be the most popular scheme in Europe with investors attracted to its flexibility and benefits. Launched in 2012 the investor visa program has been actively promoted internationally by the Portuguese government. An investment of €500,000 in real estate in Portugal will gain a residency permit for a family including dependent children. The golden visa can be renewed every two years providing the applicant spends two weeks in the country every two years.
The Golden Visa Program launched by the Portuguese Authorities is a fast track for foreign investors from non-EU countries to obtain a fully valid residency permit in Portugal (“Golden Visa”).
Under the Golden Visa program, non-EU citizens simply need to carry out one of the investments set out in the law to qualify to obtain a residency permit in Portugal. This residency permit will allow the investor to enter and/or live in Portugal and to travel freely within the vast majority of European countries (Schengen space).
Aimed at attracting foreign investment to Portugal, the Golden Visa is a very straightforward and flexible program, with simple and clear legal requirements. With extremely reduced minimum stay requirements, the Golden Visa is clearly one of the most attractive residency programs for investors in the world.
What types of investments are allowed under the Golden Visa rules?
The following types of investment qualify for the Golden Visa program:
a) Acquisition of property in the amount of or greater than € 500,000
b) Transfer of funds above € 1,000,000 or more
c) Creation of at least 10 (ten) jobs in Portugal
d) The purchase of real estate property, with construction dating back more than 30 years or located in urban recovery areas for refurbishing, for a total value equal to or above 350 thousand Euros
What are the general requirements that the investor has to comply with?
The simplicity of the Golden Visa Program implies an extremely reduced amount of requirements being asked from the investor. The Golden Visa Program sets out that the investor must comply with general requirements applicable to all types of qualifying investments and also with the specific requirements of each type of qualifying investment.
In general, all investors have to comply with the following requirements:
a) Keep the investment for a minimum period of 5 years
b) Funds for investment should come from abroad
c) Entry in Portugal with a valid Schengen visa
d) Absence of references in the Portuguese Immigration and the Schengen services
e) Absence of conviction of relevant crime
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