Portugal Golden Visa Scheme News Bulletin

Portugal Golden Visa is a popular residency by investment program started in 2012. It attracts foreigners to invest in the country in exchange for becoming Portuguese residents and gaining visa-free access to Schengen countries.

In 2023, the program underwent significant changes, which ceased accepting real estate investments to solve the housing crisis. Keep reading to learn more about this visa scheme, the changes, and how you can invest successfully.

Understanding the Portugal Golden Visa Scheme

The Portugal Golden Visa is a residency by investment scheme for international investors, mainly non-EU nationals. The program was launched in October 2012 after the country experienced a significant economic blow in 2008. The main goal of this initiative was to help stabilize the economy through international investments in the country.

Since its conception, the Portugal Golden Visa has attracted more than 12,000 applicants. Numerous changes have occurred concerning the investments allowed, but the program is still active.

You can apply for this scheme if you have always wanted to invest in Portugal or become a resident. However, keep up with the Portugal Golden Visa news for guidelines and vital details about the investment.

Benefits of the Portugal Golden Visa Scheme

The Portugal visa is popular worldwide due to the amazing benefits it offers. Here are some of them.

1. Right to Live In Portugal

This is a residence by investment scheme, meaning you can be a Portugal resident once you successfully invest. You can work, study, and even invest in other ventures in the country.

Portugal is a peaceful country with a high quality of life. There are also plenty of attractions which make the country worth living.

2. Visa Free Travel to Many Countries

The Portugal Golden Visa permit gives you access to more than 190 countries. This is an excellent advantage if you are a non-European, as you will travel to almost all European nations without having an additional visa.

3. Family Travels

You don’t have to travel or live in Portugal alone when you have this visa! The Portugal Golden Visa allows the leading investor to travel or live in the country with their spouse, children below 18 years, and those below 26 years, and they depend on you and your parents.

4. Tax Benefits

This visa does not offer many tax obligations, which could contribute to your financial obligations. However, you can become a tax resident when you consecutively spend more than 183 days in the country. Besides, the country has favorable tax regimes for citizenship if you plan to become a Portuguese citizen five years after your investment.

Requirements for Obtaining the Portugal Golden Visa

Interested investors should comply with the following requirements to be considered for the Portugal Golden Visa scheme.

• Be more than 18 years old.
• Be a non-Swiss. Non-EU national
• Make a minimum investment of EUR 250,000 to the specific route of investments you choose
• Have a clean criminal record in your home country and all nations you have traveled to
• Spend at least seven days in Portugal in the first year of your investments and at least 14 days in the second and third years of investing.

Investment Options for the Golden Visa Scheme

The Portuguese government offers many investment options to attract most people. Here are the most common options to consider if you want to apply for a visa.

• Invest a minimum of EUR 500,000 in science, research, and technology.
• Donate or invest at least EUR 250,000 in art and cultural heritage.
• Invest at least EUR 500,000 in a known venture capital or private equity fund.
• Create at least ten job opportunities during the specified period.

Initially, real estate investments were allowed, where you could invest a minimum of EUR 500,000 in the real estate industry. In October 2023, the government made a change regarding real estate investments, a move aimed at solving the housing crisis that the country was facing.

If you need to become a Portugal resident by investment, consider the remaining options centered on creating jobs and investing in research, science, venture capital, and arts.

How to Get the Portugal Golden Visa

The application process for getting a Portugal Golden Visa is simple when you are well-informed. Here are the vital steps you should undertake to get your visa successfully.

1. Consult and Choose Your Investment

Consult a qualified team to understand the available investment options, and you may get help choosing the best. This step is critical, and you may need to visit Portugal to get first-hand information, talk with the investment manager, and visit the areas that interest you.

2. Gather Paperwork

You will need a valid passport, national identity card, travel documents, proof of health insurance, and police clearance documents from your home country. All documents should be valid and well-signed by valid authorities.

3. Create a Bank Account

You will need a Portugal bank account for you to make your deposits for the investments. Ensure you have proof of income, among other personal documents like a passport, to open the account successfully.

4. Make the Investment

You can make your investment once you have chosen your Portugal investment and opened your account.

5. Submit your Application

The Portugal Golden Visa application is done online, and you can accomplish this vital step with your lawyer. Within two months, you should get a response from SEF to proceed with your biometrics appointment.

If your application is successful, you will get your residence card with your family. Every card is valid for two years, so you should renew accordingly.

Conclusion

A Portugal Golden Visa scheme allows you to live and work in Portugal through investment. It also has added benefits, like visa-free travel to 190 countries. If you have always wanted to live in this beautiful country, try the golden visa scheme application to get the right way through your investment.