HOW TO GET THE PORTUGUESE GOLDEN VISA
Portugal’s mild climate, historic cities and relaxed attitude, portrays a warm invitation to those who choose to wish to call it home. One way to become a permanent resident in Portugal is by applying for a Golden Visa. This is a program that allows non-EU investors to obtain permanent residency status in Portugal (Visto de Residência Permanente) via real estate investments and Investment fund investment along with other possible investment routes. Having a Golden Visa in Portugal opens up a new world of opportunities: you can live, retire or study in one of the most beautiful places on earth with no time restrictions. Here, you will learn everything you need to know about the Golden Visa program and how the experts at CVSP can assist you with the application process so it is quick and stress-free.
WHAT IS A GOLDEN VISA
The Golden Visa is Portugal’s most flexible residence permit. The minimum stay requirements are low – 7 days in year 1 and then 14 days. It allows non-European Union citizens to reside in their home country or if they desire to live and work in Portugal.
The rules changed in 2022 and are as follows:
COMMERCIAL REAL ESTATE INVESTMENTS
The Golden Visa is granted to those who invest €500,000 in Portuguese commercial real estate.
- Investments in commercial properties must be of a minimum of €500,000 anywhere in the country.
- Investments in commercial properties must be of a minimum of €350,000 anywhere in the country if the property is being renovated.
RESIDENTIAL REAL ESTATE INVESTMENTS
Residential investments that also qualify someone for a Golden Visa include:
- Investing a minimum of €500,000 if the property is located in an interior region of Portugal.
- Investing a minimum of €350,000 in construction that’s at least 30 years old or in a designated rehabilitation or regeneration zone if the property is located in an interior region of Portugal.
- Investing a minimum of €280,000 in real estate property situated in low-density areas.
- Residential properties in the cities of Lisbon, Porto, or along the coast are excluded from this investment option.
PORTUGUESE INVESTMENT FUND
Investing a minimum of €500,000 in units of investment funds or venture capital funds regulated by Portuguese law.
- To be used for the capitalization of companies.
- Capital injected under the Portuguese legislation, whose maturity, at the moment of the investment, is, at least, 5 years and, at least, 60% of the investments are realized in commercial companies with their head office in Portuguese territory.
BENEFITS OF A GOLDEN VISA
- The Portugal Golden Visa gives you visa-free travel in Europe’s Schengen area.
- You can apply for a permanent residency after 5 years and you are eligible for Portuguese nationality if some additional conditions are met.
- You can use the real estate investment as rental property for income.
- If you attain your Golden Visa via the Investment Fund option, you will receive a return on your investment. Annual distributions average around 3-6%, but annualized target returns over fund lifetime reach 10-20%.
- You can combine the Golden Visa with the NHR tax scheme and may benefit from several tax exemptions.
HOW DO I GET A PORTUGUESE GOLDEN VISA
When the law team at CVSP works with clients to assist them in getting a Golden Visa, we begin by discussing the best investment option for their situation. This is an outline of the basics steps that must be taken in order to apply for the Golden Visa:
- Obtaining a Portuguese tax ID (NIF number)
- Opening a bank account in Portugal
- Transfer the funds from foreign sources into your Portuguese bank account
- Finalizing the investment
- Preparing all the necessary documentation for the Golden Visa application
- Online Golden application
- Online Golden application approval by the competent authority – SEF
- Biometrics appointment and submission of the original documentation
- Golden Visa approval
- Issuance of the Residency Card
CVSP Advogados is a Portuguese law firm that assists those who are looking to attain the Portuguese Golden Visa and the investment of choice. We will assist you with every step of the process with our white glove service.