EnglishThe “Gold Visa” program, or its original name “Golden Visa”, was established in 2012 and since then it has allowed tens of thousands of people outside Portugal, who choose to invest in it, to enjoy a European visa (almost completely equivalent to European citizenship), and after 5 years also become Portuguese and European citizens. There is much talk about Portugal’s gold visa program, which has brought billions of euros into the state coffers since its inception, and has put it in local headlines in positive contexts, and at the same time, pushed locals out of big cities, putting it in headlines in positive contexts. Either way, there is no doubt that this is a spoken and highly sought-after visa. So what is a gold visa program in Portugal?
The Gold Visa Program in Portugal is an investment residency program designed for non-EU citizens. The Golden Visa grants its recipients and members of their nuclear family the right to live, work and study in Portugal without any restriction. In addition to all this, the gold visa allows for mobility around European countries that belong to the Schengen Convention. In doing so, the program essentially grants almost equivalent status to citizenship (except for the ability to vote, of course). Eventually, after 5 years, the participants in the program will also be entitled to become full Portuguese citizens – without any conditions or dependencies. Why is it even worth issuing a gold visa? Those who choose the Golden Visa route, choose it because they want to become European and Portuguese citizens, but cannot obtain European citizenship in any other way and / or need to arrange their status in Europe or Portugal very quickly (since in this program you can have the Golden Visa in hand within a few months). So we realized that the visa can be obtained even without eligibility for Portuguese citizenship, and we realized that the process is relatively quick, and that it grants rights very similar to those obtained by holders of citizenship. What else is worth knowing? To enter the Golden Visa program, the initial investment required in Portugal is relatively low – starting at 280,000 euros. The investment is usually in the real estate field, which knows how to yield relatively high returns. This visa allows you to be accepted into the NHR program for tax exemption for 10 years (which we expanded on in a previous article). Important: Conditions for obtaining a visa – a minimum requirement for a stay in Portugal – between 7 and 14 days a year. Since it is not about eligibility for European citizenship, anyone in the family can enjoy the Golden Visa. What family members can be included in the plan along with the investor? A valid spouse. Minor boy or girl (under 18 years of age). A dependent child under the age of 26 – assuming they are full-time students and single. Parents of any spouse if they are over the age of 66 or dependent from the age of 55 and up. Siblings if they are under the age of 18 and the investing brother is a guardian. What are the threshold conditions for admission to the Golden Visa program? To be accepted into the Golden Visa program, the applicant must meet any of the following criteria: Be a citizen who is not part of the EU or Switzerland. The absence of a criminal record. Making a qualifying investment (we will explain later what this means). You were a minimum in Portugal. In the first year 7 days and then 14 days each year throughout the program period. The different routes to the gold visa or what would be considered a qualifying investment? To be accepted into the program the applicant must make a qualifying investment. The qualifying investment will be an investment in real estate, an investment in local funds, an investment in a business or a cash deposit in a local bank for the entire period of the plan. The following is a list of the various routes: Transfer of capital of at least one million euros to a Portuguese bank, and leave it in the bank (possible with an interest-bearing deposit) until the end of the program. Starting a local business in Portugal that produces at least 10 new jobs. It is also possible in some areas to be accepted into the program with only 8 jobs (low density areas). Buy a Real Estate Property in Portugal: investment in the amount of 500 thousand euros in real estate – it is important to note at this stage that most investments in non-low density areas will not be possible starting in July 2021, so a regulation restricting investments in the program to only low density areas should enter into force. An investment of 350,000 euros in an area with a low population density – usually not in the area of Lisbon, Stubble, Porto, the main beaches and the Algarve. Investment of 280 thousand euros in ancient areas for the preservation of the national heritage. An investment of at least 350,000 euros in the study. An investment of 350,000 euros in an existing Portuguese business. Must combine or increase share capital and create at least 5 full-time permanent positions for at least 3 years. Investment in private equity funds – it is possible to invest in a local investment fund in Portugal for a minimum of 350,000 euros. For more information on each program, we recommend that you consult with experts in the field to check the most suitable route for you.
What are the steps for admission to the program? The process can be divided into 5 relatively simple steps (you can find an explanation of how to do each of these actions in different articles on our site). Collecting the paperwork – as detailed below, you are required to present a series of documents in order to be accepted into the program; opening a bank account and issuing a number at the Portuguese Tax Authority (NIF); making the actual investment and transferring the funds; making a visit to Portugal for an admissions interview for the program – after about two months from the start of the process the applicant is required to physically arrive and provide biometric means of identification; issuance of the Gold Visa – after about 4 months from the date of the interview, the approval will be received by SEF and after that it will be possible to receive the resident’s Gold Visa card. What are the documents required to be accepted into the program? The official golden visa application form of the Portuguese government. A valid passport copy. Investment Certificate – in the case of a real estate property, a promissory note or contract of the property purchased or a contract of commitment signed with proof of payment of the deposit. A statement from your bank in Portugal confirming the transfer of funds. Proof of health insurance in Portugal. Certificate of integrity from the country of origin (valid for 90 days). A complete form authorizing the SEF (Portuguese Border Control Organization) to obtain a summary of your Portuguese criminal records. Applicant’s statement confirming compliance with the investment requirements. Documents showing that there are no debts to the Portuguese Tax and Customs Authority and the Social Security system. These can be issued 45 days before your online application.
