The Portugal Golden Visa is a residence visa issued to non-EU nationals who have made a significant investment in Portugal, such as purchasing real estate, making a capital investment, or creating employment opportunities.

It is a fast-track process for obtaining permanent residence and citizenship in an EU country – via the Golden Visa, you can become eligible for Portuguese citizenship in as little as five years.

To be eligible for a Golden Visa in Portugal, you must make one of the following investments:

• Purchase a property worth at least €500,000
• Invest €350,000 in a property in a Portuguese urban regeneration area. Before investing, you should make sure that the project qualifies for investment by the Portuguese Immigration and Borders Service – SEF.
• Make a capital transfer of at least €1 million in a Portuguese bank account
• Purchase company shares worth at least €1 million
• Invest at least €1 million in a company
• Create at least ten jobs for Portuguese nationals
• Make a capital transfer of at least €350,000 for research activities in science or technology by either public or private scientific research institutions
• Make a capital transfer of at least €250,000 to support the arts or reconstruction of national heritage

To be eligible for a Golden Visa for Portugal, you have to fulfil the following requirements:

• You must be over the age of 18
• You must make a significant investment which is beneficial to the Portuguese economy
• You must have no history of criminal records
• You must own the money you seek to invest
• You must commit to maintaining the investment for at least another five years

The Golden Visa for Portugal is a coveted visa for wealthy investors as if offers a wide range of benefits, such as:

• You can include the following family members on the visa with you:
  • Your spouse
  • Children under the age of 18
  • Dependent adult children who are full-time students (up to age 26)
  • Dependent parents of either yourself or your spouse
  • Any other dependents, such as minor siblings
• You and your family members will enjoy visa-free travel to the Schengen Zone countries for up to 90 days in any 180-day period.
• You don’t need to stay in Portugal full-time to renew the visa. You only need to stay for seven days every year.
• If you chose to, you and your family members can live in Portugal and have access to its healthcare and education.
• You can apply for a Portugal passport after 5 years. Since Portugal is part of the EU, a Portuguese passport will give you access to the EU free market as well as the freedom to travel to more than 100 countries around the world.

You have to apply for a Portugal Golden Visa at the Portuguese Immigration and Borders Service’s (SEF).

• Register with the ARI Portal (here), which is the SEF’s online portal for handling Golden Visa Application (Residence Permits for Investment Activities – ARI). You can register yourself or a legal representative may do it on your behalf.
• Attach electronic copies of the required documents (in PDF, and no bigger than 4MB).
• Pay all the relevant fees.
• Wait for confirmation from the SEF.
• Schedule an appointment to submit your Golden Visa application at a local branch of the SEF.

If you do not wish to apply in-person, you can hire a legal representative to apply on your behalf. The Portuguese authorities will accept this application as well.

You must have already performed your investment before you apply, as you must submit proof of the investment as well as the fact that you intend to maintain it for at least five years.

Application for family members: If applying for family reunification, then your family members can apply via the same portal and method. They can apply at the same time as you or later on.

When submitting the Portugal Golden Visa application, you must have the following documents:

• The official Portugal Visa Application Form. This is downloadable from the Portuguese visa portal.
• Valid passport.
• Two passport-size pictures, which are in line with Portugal visa photo requirements.
• Proof of having obtained health insurance valid in Portugal.
• Proof of having no previous criminal records. You need a certificate from any country in which you have lived longer than one year. The certificate has to be issued by the relevant authorities within the previous three months and translated into Portuguese.
• Sworn Statement that you will maintain your investment for a minimum period of five years.
• Payment receipt from the ARI portal.
• Any documents related to your investment, as detailed below.

Purchasing real estate property worth at least €500,000

• Acquisition deed of the property or the pre-contract agreement.
• Declaration from a financial institution authorised or registered in Portugal, which proves the effective international transfer of the assets.
• The Land Register Certificate along with the records, endorsements and registration in force, which attests to the ownership of the property.
• The legal description of the property, if applicable.

Investment of  €350,000 in a property in a Portuguese urban regeneration area

• The above-mentioned documents
• Declaration from a competent entity proving that the property is in a regeneration area

Capital transfer of at least €1 million in a bank account

• Declaration from a financial institution which is registered in Portugal, attesting to the deposit. The transfer must be free from any charges and obligations.

Creation of at least ten job positions

• Declaration from a financial institution which is registered in Portugal, attesting to the required deposit.
• Individual employment contracts between the employer and the employees.
• If you are a shareholder in a company: Extract from the register of companies

Investment in the arts

• A Declaration issued by the Portuguese Strategy, Planning and Cultural Assessment Office, stating they have consulted with the competent authorities in the sector and attesting your investment in the support of the arts or restoration and maintenance of the national cultural heritage
• A Declaration from a financial institution in Portugal attesting the transfer of the assets

Investment in research activities

• A Declaration from the public or private scientific research institution, attesting the investment
• A Declaration from a financial institution in Portugal attesting the transfer of the assets

The Portugal Golden Visa is initially valid for one year. You can then continue to renew it for two-year periods, provided that you have maintained your investment. After five years (1+2+2) you become eligible for permanent residence or citizenship.

Obtaining a Portuguese passport gives you access to EU citizen rights, such as the freedom of movement and access to the free market.

To maintain your Portugal Golden Visa, you have to stay in the country for at least 7 days in the first year and then fourteen days for the following years.

Unlike for other types of investment visas, you do not have to live in Portugal permanently in order to renew your Golden Visa or to receive permanent residence or citizenship.

At the beginning of 2020, the Portuguese government proposed changes to the Golden Visa, specifically the real estate route. The new rules would restrict investment in urban areas, such as the capital Lisbon, in an effort to drive investment to more rural and low-density areas.

These changes were estimated to begin starting from 2021. However, because of the COVID-19 pandemic, no decision has been made yet, as the government does not consider it a priority.

Your investment needs to meet at least one of the following requirements:

1. Transfer of capital of at least €1,000,000.
2. Creation of at least 10 jobs. The low-cost option.
3. Acquisition of real estate with a value of at least €500,000. The traditional option.
4. Acquisition of real estate with construction completed at least 30 years ago or located in an urban rehabilitation area, with the execution of rehabilitation works. The minimum investment is reduced to €350,000.
5. Transfer of capital of at least €350,000, invested in research carried out by public or private scientific research institutions that are part of the national scientific and technological system.
6. Transfer capital of at least €250,000, as investment or support for artistic production, or recovery or maintenance of national cultural heritage.
7. Transfer capital of at least €350,000, destined to acquire units in investment or venture capital funds aimed at providing capital to companies that meet certain requirements. My recommendation for most people.
8. Transfer capital of at least €350,000, to incorporate or increase the share capital of a company with registered office in Portugal, together with the creation of five permanent jobs, for a period of three years.

For more details about the requirements, click here.