Benefits and Process of Portugal Golden Residence Permit Program

The most sought-after residency by investment schemes in Europe is Portugal’s Golden Visa, which offers a quick path to Portugal residency Visa there. The project was first established in 2012 to encourage foreign investment and boost the Portuguese economy. More than 10,000 families have now moved to Portugal since then. Through the Golden visa procedure for Indians, foreign nationals can get Portugal permanent residency, which eventually leads to citizenship.

With the aid of permission, a non-EU citizen may initially reside and work in Portugal. Additionally, while traveling within the Schengen area, investors have visa-free access to 186 countries (only after getting a Portuguese passport). Obtaining a Portugal golden visa India 2024 is a fantastic residence program.

Reasons behind Portugal’s Golden Visa appeal to investors as a residence option

An investor can select from a variety of modest investment possibilities under Portugal’s “golden visa" program to obtain a resident card. You can enter the Schengen region without a visa. Modern infrastructure, first-rate medical centres, and a top-notch educational system are all found in the nation. The ability to live, work, and study in Portugal is the main advantage of the Portugal golden visa program. In this paradise of Europe, you can also spend your golden years with your family. The required length of stay. In the first year, you only need to survive for seven days, and for 14 days in the two years that follow. Include the members of your family in the application.

Portugal Golden Visa Requirements

The following three options are available to applicants: Capital, property acquisition, and business:

Capital transfer

• Minimum capital transfer of EUR 1.5 million into a Portuguese bank account or authorized investments
• EUR 500,000 for the purchase of investment fund or venture capital fund units dedicated to the capitalization of Portuguese law-governed companies, with a maturity of at least five years and at least 60% of the investment portfolio in firms with a registered office in the national territory.
• A grant of EUR 500,000 is available for research projects carried out by public or private organizations that are a component of the national scientific and technical system.
• A low population density area with EUR 400,000
• €250,000 to promote artistic endeavours, or to restore or preserve national cultural heritage
• EUR 200,000 in a sparsely populated area

Fund Subscription

• Invest a minimum of €350,000 in a qualifying Investment Fund.

Property acquisition

• 1. Minimum real estate buying price of EUR 500,000 (residential property is limited to designated interior areas)
  • EUR 400,000 in a low population density area.
  1. Residential homes older than 30 years old or in an urban redevelopment region must be purchased for at least EUR 350,000, including the cost of renovations (residential property is limited to designated interior areas)
  • EUR 280,000 in a low population density area.

Business

1. Creation of a minimum of ten new jobs.
2. A Portuguese-registered company may receive EUR 500,000 for its formation or increase in share capital if it also maintains or adds at least five permanent jobs over three years.

Procedures and time frame of the Portugal golden visa

Following receipt of the residence permit, each renewal requires the client to submit updated original documents as well as biometric information. Normally, the first permission is only good for a year, but because of the Covid-19 epidemic, it is now only valid for two years. The permission may then be extended for two additional two-year periods. The primary applicant for the Portugal Golden Residence Permit Program must visit Portugal twice while the application is being processed:

1. To choose the qualifying investment, start the legal process, and open a bank account
2. To provide the biometric data and original documents.
3. Each renewal requires the client to submit updated original documents as well as biometric information.
4. It takes more than 18 months to obtain a Portuguese resident permit through investment

Basic eligibility requirements for Portugal Golden Visa

To be eligible for the Portuguese golden visa, you must:

• Maintain your investments for at least five years
• Ensure all your funds come from legal sources
• Must have a clean criminal record and medical background
• Maintain the minimum stay requirements for at least seven days in a year and 14 days after two years.

The process to get a Golden Visa for Portugal

Take the proper steps, select the appropriate investment, and submit the correct documents, and you’ll have a smooth and successful process. Please review the steps.

Step 1: Select the appropriate investing strategy.

You must first evaluate each investment option that is offered and select the one that best suits your interests. The real estate option is chosen by more than 90% of applicants. Another choice that is gaining popularity at the moment is funding.

Step 2: Compile every document 

To continue with the application procedure, you must gather all the necessary documents. Make sure you receive the necessary support and direction from a Portugal Golden Visa India professional because it’s a very important process. Translations, notarization, financial statements, and certificates are all included in this process. A qualified company immigration advisor can help reduce risks and prevent errors.

Step 3:Open a bank account in Portugal and obtain a NIF

You must create a bank account in Portugal and receive a NIF, or Portuguese tax identification number. In Portugal, you can complete both tasks with ease, or your immigration lawyer might assist you in doing so.

Step 4: Finalize the investment

It’s time to choose the kind of investment you want to make. You must also complete the acquisition and deposit the necessary investment funds to your Portuguese bank account.

Step 5: submitting an early application

You can submit the pre-application to SEF online as soon as your paperwork is prepared and you have paid the necessary investment. If anything further is necessary, your consultant will let you know and handle this duty for you.

Step 6: Plan and show up for your interview.

SEF will inform you of the available dates for your biometrics session after assessing your supporting documentation. You must physically be present on the designated date to formally submit your application, along with any dependents listed in your application.

Step 7: Receive your confirmation.

Yay! Your family and I have been granted a golden visa for Portugal. After its initial two-year validity expires, you can renew your permit

Benefits of a Portuguese golden visa

• The ability to live, work, and study in Portugal;
• Visa-free travel across the Schengen Area of Europe;
• The ability to apply for citizenship after five years as a legal resident while maintaining another citizenship (s).
• The low necessity for physical presence (seven days during the first year of residence and 14 days for the two subsequent years, which can count towards citizenship eligibility after five years)
• High quality of life, regional food and wines, rich culture, a moderate climate, and a high level of security. Excellent international and Portuguese schools and universities. International-calibre hospitals and clinics.

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