Portugal Golden Visa is a visa as a permit to reside in Portugal and is specially made for citizens of non-EU (European Union) countries. This visa can be issued if the nationals of that country carry out significant investment activities for Portugal. Investments vary, they can be in the form of buying real estate, providing employment, or investing in shares as capital. Portugal Golden Visa was chosen because it is a fast way to get citizenship and residence in an EU country in just 5 years.
This type of visa also has several benefits, such as:
By applying for a Portugal Golden Visa, you can get a residence from an EU country, along with a passport and the full benefits of its citizenship without any restrictions. In this way, you can access the single market and join a stable community for a safe, prosperous and democratic life in the EU country.
In addition, with the Portugal Golden Visa, you can also get a job and do business in this country. When you do business in the EU, you enjoy free movement of labour, services and goods, as well as free access to over 450 consumers.
Portugal is known for its high quality health and education services. Even in terms of health, Portugal managed to occupy the third position for patient care and medical infrastructure according to the World Index of Healthcare Innovation 2021. Interestingly, the health care system in Portugal is fully funded by the public, or often called Servico Nacional de Saude (SNS), which ultimately makes all citizens are entitled to easy access to health services, including holders of the Portugal Golden Visa.
Apart from health, Portugal Golden Visa holders can also access all national services such as education. Of course this is a very profitable thing, considering that Portugal is one of the countries with high quality at all levels of education. This is evidenced by the literacy rate which reaches 99.44 and Portuguese students who always score above average on the PISA test.
As a holder of a Portugal Golden Visa, you can live in the country with the lowest cost of living in Western Europe, without having to sacrifice your quality of life. In Portugal, all costs are relatively cheap, from food, clothing, recreation, social activities, transportation, to health care.
4. Visa Free when Traveling in Europe
Another benefit of having a Portugal Golden Visa is that you can go anywhere in the European Union without having to use a visa. Some non-schengen countries will also allow you to enter visa-free, if your residence permit is still available and active. By applying for a Portugal Golden Visa and getting a Portuguese visa in five years, you will also be able to travel visa-free to over 100 countries.
Requirements for Applying Portugal Golden Visa
Portugal Golden Visa may only be applied for by a few eligible investors. The requirements to apply include:
Investors must be over 18 years old.
Must make significant and beneficial investments for the Portuguese economy.
Must have money that matches your type of investment.
Investors must be clean of criminal records.
Investors must commit to reinvesting for at least the next five years.
Well, for the terms or types of investment are very diverse, here are the kinds:
Purchase a minimum of €500,000 worth of property, but if the area density is low it changes to €400,000.
Make a capital transfer of at least €1 million to a Portuguese bank account.
Buy shares or invest at least €1 million in a company.
Create a minimum of ten jobs for Portuguese citizens.
Provide a capital transfer of at least €350,000 for interests in the fields of science and technology, and channel it through public and private scientific research institutions.
Provide a transfer of capital for the benefit of activities in the field of art or reconstruction of the national heritage of at least €250,000.
Invest a minimum of €350,000 for the establishment of a commercial company or as a fund to support the activities of the company which will later create five full-time jobs.
Documents to be Prepared
In addition to the requirements above, you also have to prepare some important documents first. These documents include:
Official Portugal visa application form which can be downloaded from the Portuguese visa portal.
A valid passport with real identity.
Two passport-sized photographs that meet the requirements for making a Portugal Golden Visa.
Evidence to show that you have obtained health insurance in Portugal.
Proof that you have no criminal record. In this case, it is in the form of an official certificate from the country of origin issued in the previous three months and has been translated into Portuguese.
A written statement that you are ready to maintain the investment for a minimum period of five years.
Receipt of payment from the ARI portal.
Documents related to the type of investment you choose, such as a statement from a financial institution.
Order of Making Portugal Golden Visa
After all the requirements are met and the required documents are complete, the following is the order in which the Portugal Golden Visa is made.
You, or you can be represented by a lawyer, must come directly to Portugal to choose the type of investment that suits your readiness. For example, you want to invest in real estate, then you have to visit the property section.
In this case, you have to go to your local tax and customs office and fill out a form for a tax number. For the account, you can take care of it at a trusted financial institution in Portugal and submit income and identity documents.
Please note, the investment process takes months and you must complete it to get an application document for making a Portugal Golden Visa.
At this point, you can apply for a Portugal Golden Visa at the Immigration and Border Service (SEF). You can register on the ARI portal by attaching an electronic copy of the required documents. After that, take care of the relevant payments while waiting for confirmation from SEF. If so, you can make an appointment at your local SEF branch.
To receive a residence permit, you have to wait for 3 to 6 months after making the application. This permit card is valid for one year and can be extended for a maximum of five years. With this card, you can live, work and experience other benefits as a citizen of Portugal.
- Apply for Portuguese citizenship /permanent residency
You can get permanent citizenship after five years of investing. At this point, you should demonstrate your ties to Portugal by passing a general knowledge test and being able to speak Portuguese at A2 level and understanding local laws and regulations.