Portugal citizenship by investment is one of the most desired programs globally. Though this scheme is relatively new, excluding tow-year COVID period, it has become one of the best second citizenship schemes. The reason to get Portugal Golden Visa includes directly access to EU, incredible lifestyle, enhanced mobility and high-ranking passport.
Portugal Golden Visa Requirements
Below are some of the requirements to attain Portugal’s golden visa.
- This scheme is only valid for non-Swiss, non-EU, and non-EEA citizens.
- The applicant will be required to invest a minimum of EUR 250,000 ($273.2, AED 1 million) in the country’s specified investment areas.
- They will be required to maintain your investment in the country for over five years. After this period, the applicant and their immediate family will be considered eligible for Portugal’s permanent residency.
- Portugal’s Golden visa will be granted for one year. After a year, the applicant can renew the visa on a two-year period basis.
- The stay period for the first year will be up to seven days. The applicant will be required to stay up to fourteen days in the country from the second year.
- Every applicant must have a clean criminal record in their native country.
Specified Areas to Invest in Portugal
Portugal’s government has specified certain areas where applicants can invest for attaining Portugal Golden Visa. Those specified areas are mentioned below.
Capital Fund
This is probably the simplest kind of investment. In this, the applicant is required to transfer at least 1.5 million euros in the capital fund of the country.
Real Estate
Most investors choose to invest in the real estate sector of Portugal. Either you can invest in the residential or commercial real estate sector. The applicants will be required to invest 350,000 euros to 500,000 euros in real estate. However, if the applicant invests in a low-density area, then a 20% discount will be employed over the investment amount.
Job Creation
The applicant can also start a company in the country and create at least ten full-time jobs. They can also invest in an already working Portuguese company. The investment should be up to 500,000 euros.
Scientific or Tech Research
Applicant can also invest up to 500,000 euros for scientific and technical research in Portugal.
Fund Investment
Applicant can also make fund investments in up to 500,000 euros in the region.
Donation
One can also attain Portugal Golden visa by donating up to 250,000 euros to the reconstruction processes.
Procedure for Attaining Golden Visa
The following process needs to be observed to attain a Golden visa.
Paperwork
After deciding which area you want to invest in Portugal, you will need to undergo paperwork. Moreover, the applicant’s dependents who will attain residency after five years will also have to complete the paperwork.
NIF
Next, the applicants will need to have NIF (Número de Identificação Fiscal)a nine-digit tax number. For this purpose, you will need to get a fiscal representative. After this, you will attain a NIF.
Bank Account
With NIF, you will have to open a bank account in Portugal. All of this can be done remotely from the applicant’s native country.
Online Application
The next process is to apply for the Golden visa via online application.
Pre-Approval Process
Once your application gets pre-approval, you will get interviewed in the Embassy. After two months, the applicants will also be called for biometric collection.
Golden Visa
About four months after biometric, the visa will get approval from SEF(Serviço de Estrangeiros e Fronteiras – Portuguese Immigration and Border Service) . Next, you will have to submit the permit issue amount.
Permanent Residency via Portugal’s Golden Visa
After these steps, you will be required to visit the country and stay there for the required period. If you have an investment in that area that requires maintenance, you will need to nourish the investment for five years. Otherwise, all you will need is to wait for this tenure. After five years, you will be eligible for permanent residency in the country.