Portugal Golden Visa
The Portuguese Residence by Permit, also known as Golden Visa Program, was first launched by the Government of Portugal in 2012 to allow foreign nationals to acquire permanent residency status in Europe. The Portugal Golden visa allows wealthy foreign investors willing to invest a specific amount of money in the country to become eligible to become permanent residents.
The golden visa program offers a route to real estate investment to gain residency and ultimately citizenship in Portugal. The program aims to encourage foreign investment in Portugal towards low and high residency areas. The Golden Visa program assesses over 2,000 visa applications every year.
Foreign nationals who invest in Portugal are also eligible to include partners, dependent partners, and dependent children in their application, including children up to the age of 18, or children over the age of 18 who are unmarried, and enrolled them in full-time education for the duration of the process.
Since its launch in 2012, the business visa has welcomed over 25,000 foreign nationals and their qualifying family members. The best thing about the program is that it does not require overseas investors to be physically present in Portugal during the period to get citizenship. They need to spend seven to fourteen days per year to qualify.
However, they still need to have accommodation in Portugal, a steady income, and a basic understanding of the Portuguese language.
Who is eligible to apply for Portugal Golden Visa?
To qualify for the Portugal Golden Visa, you must fulfill the following eligibility requirements:
- Be at least 18 years old
- Abe to invest in to real estate (residential or commercial) project with a minimum value of EUR 500,000.
- The purchase of a real estate (residential or commercial) project with a minimum value of EUR 350,000 with construction dating back more than 30 years or located in urban regeneration areas, and with a commitment to be refurbished.
- Capital transfer with a value equal to or above 350 thousand Euros for investing in research activities conducted by public or private scientific research institutions involved in the national scientific or technologic system.
- The creation of, at least, ten job positions is also required
Changes in the Portugal Golden Visa from January 1, 2022
A few months ago the Portuguese government had confirmed that the golden visa would undergo some significant changes, starting from January 1, 2022. The government had announced the elimination of investments in Porto and Lisbon from the country’s Golden Visa Scheme from July 2021 to January 2022.
However, the government also clarified that it would not change the minimum investment value for a real estate project, presently EUR 500 000.
The properties intended for purchase should now be located in the Autonomous Regions of the Azores and Madeira or the country’s inland areas. The changes have been designed to encourage investment in low residency areas.
Additionally, the capital investment will be increased from €1 million to 1.5 million.
The capital transfer for research activities will also increase from 350,000 to €500,000.
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 in every step. Call us at 8595338595 or [email protected].