Work and Live in Portugal with Golden Visa
The Portugal Golden Visa permits a non-EU/EFTA national to make a substantial investment in Portugal for permanent residency. A Portuguese golden residency visa provides a fast-track residency option and several benefits.
The visa is created for non-EU individuals who wish to invest, set up a new business in Portugal, purchase real estate, make capital investments, or generate job opportunities. The program was first launched in 2012, and it has issued over 4,200 golden visas, injecting €2.5 billion into the Portuguese economy.
Portuguese Golden Visa Requirements
Any foreign national can apply for a Golden Portuguese visa. Applicants must invest in the following ways:
- Invest in a property worth at least €500,000 in an urban area. For low-density areas, the amount will be €400,000.
- Buy a property worth €350,000 in a Portuguese metropolitan regeneration area.
- For low-density areas, the investment amount is €280,000.
- Capital transfer of at least €1 million in a Portuguese bank account.
- Invest a minimum of €250,000 or more in Portuguese arts, culture, and heritage
- Make a minimum investment of €500,000 in an SME in Portugal.
- Generate at least ten full-time jobs for the residents/citizens of Portugal.
What is a Golden visa?
The Portugal Golden Visa aims to attract foreign investments and fuel the Portuguese economy. The scheme is also known as a residence permit for investment or a Europe business visa, as it accelerates the residency process in Portugal.
The golden visa holders first get a one-year temporary residence permit, which can be renewed for two years. After completing five years, the golden visa holder can apply for a permanent residency and citizenship after six years.
Key benefits of having a Portugal Golden Visa
With a Portugal Golden visa, you can:
- Live and work in Portugal with no restrictions. However, you must reside in Portugal for at least seven days after receiving the temporary residence and 14 days every year.
- Visa-free access to the entire Schengen area
- You can include your family members in the visa application. They can also get residency in Portugal.
- Have access to high-quality Portuguese healthcare facilities and education system.
- The benefit of investing in real estate
- Exempt from paying tax on worldwide income if you live in Portugal for less than 183 days per tax year.
Along with the application, an investor is also required to submit the following documents:
- Copy of valid passport
- Two passport-sized photos
- Proof of health insurance issued within the last three months
- Copy of police clearance certificate
- Evidence of compliance with tax and social security obligations
- Receipt of fee submission
- Copy of bank statements for financial investments
- Contract of employment for job creation
- Deeds of purchase of real estate investment
Indians may also opt for a Portugal D7 visa, also known as the Retirement Visa or Passive Income Visa.
The processing time for the Portuguese golden visa is six to seven months. The processing time covers application preparation time, in-principal approval, pre-registration, and approval of a golden permit.
Are you interested in the Portugal Golden visa or wondering if the Portugal D7 visa will work for you? Abhinav Immigration Services can help you make the right choice. As India’s leading business immigration consultants, we will guide you through the investment and immigration process at every step. Call us at 8595338595 or [email protected].