Portugal has gained popularity among investors seeking to obtain residency in the European Union through its Portugal Golden Visa program. This initiative allows foreigners to apply for a residency permit in Portugal by making a significant investment in the country.
However, with the ever-changing immigration policies, it is crucial to stay up-to-date with the latest updates on Portugal Golden Visa rules to ensure a successful application process. In this blog, we will provide detailed information about how applicants can obtain the Golden Visa of Portugal and the rules set by the Portuguese government.
Basic Criteria To Apply For Portugal Golden Visa:
To acquire the Portuguese Golden Visa, applicants must fulfill certain criteria established by the government.
- The first and most essential requirement is to make a qualifying investment in Portugal.
- There are several investment options available, including purchasing real estate, capital transfer, job creation, or scientific research.
- Investing in real estate can be an attractive option for many applicants looking to earn passive income while obtaining residency.
- The current Golden Visa rules state that one must invest a minimum of €500,000 in real estate properties. However, the government has proposed changes that could increase the minimum investment threshold in desirable locations such as Lisbon and Porto.
- Apart from investing in real estate, applicants can also choose to invest at least €350,000 in various research projects that contribute to scientific research and development in Portugal. This option aims to boost innovation and technology sectors within the country and has gained considerable interest among investors.
- Creating jobs for Portuguese nationals is another viable avenue to qualify for the Golden Visa. By creating a minimum of ten jobs, applicants can secure residency permits for themselves and their family members. This option benefits both the investor and the local economy, fostering job growth and stability.
- In addition to the investment options mentioned above, applicants can also transfer a minimum of €1,000,000 in capital funds. These funds can be used to acquire stocks, establish a business, or support existing Portuguese businesses. The transfer of capital must comply with certain requirements and regulations set by the government.
Basic Requirements to Apply For Portugal Golden Visa:
To apply for the Golden Visa, applicants must meet additional eligibility criteria. They must not have any criminal convictions, debts to the Portuguese Tax and Customs Authority, or be associated with any organizations involved in criminal activities.
Furthermore, applicants should have health insurance coverage valid in Portugal and must maintain the investment for a specific period, depending on the investment option chosen.
What Are The Positive Sides of Applying for a Portugal Golden Visa?
- The government is committed to promoting regional development through the Portugal Golden Visa program by offering reduced investment options in less populated areas or areas with low GDP.
- This approach aims to decentralize economic growth from major cities to smaller towns and creates a more balanced distribution of investments across the country.
- Furthermore, there have been efforts to simplify and expedite the application process to enhance the program’s efficiency. Streamlining administrative procedures and eliminating unnecessary documentation requirements will not only reduce processing time but also stimulate investor confidence in the program.
Staying updated with the latest updates on Portugal Golden Visa rules is paramount for applicants considering this opportunity. Portuguese immigration policies are subject to change, and being well-informed ensures a smooth application process.
The program’s investment options, eligibility criteria, and proposed changes demonstrate Portugal’s commitment to attracting quality investments for its economic development and regional growth. As always, it is advisable to seek professional guidance and consult with experienced immigration experts to navigate the application process successfully.
New Rules
Investments under the real estate categories of the Golden Visa programme are no longer possible. But the new law will not apply to renewals and current applications retroactively. Those who already hold Golden Visas are not going to be required to prove they’re living in Portugal 183 days per year or more before they get their Golden Visa upgraded to a standard residency permit. Instead, they will be offered a variation of the existing D2 visa, which requires the same seven days stipulated under the rules of the Golden Visa.
Lastly, the door for securing residency and citizenship in the future through investment should remain a possibility. The government is now proposing that new applications supporting specific aspects of Portugal’s cultural heritage will have the ability to gain entry. This is likely to include investing in the maintenance and recovery of Portuguese heritage, as well as native artistic production.