What is the Golden Visa Portugal? How can I obtain it through Property Investment in Portugal?
The Portugal Golden Visa is considered the best immigration program in the globe.
Launched by the Portuguese government to attract foreign investment in the country, this opportunity offers the chance of a new nationality and the guarantee of residency permit as EU passports for the investor and family.
What are the advantages and possibilities of the Golden Visa Portugal?
Circulate in Portugal freely as a national
Live and work in Portugal and having another residence abroad.
Circulate in all the 26 countries from Schengen zone freely.
Permanent residency permit after 5 years
Permanent Portuguese/EU Nationality after 6 years
Residency extended to family members
Extremely low minimum stay periods
What is the Schengen Area and what are the countries included?
The Schengen Area is a group of 26 European countries that have abolished passport and immigration controls at their common borders. With a resident permit from Portugal, the investor is entitled to enter and travel freely throughout all the countries of the Schengen area.
The Schengen Area includes the following countries: Austria, Belgium, Czech Republic, Denmark, Estonia, Finland, France, Germany, Greece, Hungary, Iceland, Italy, Latvia, Liechtenstein, Lithuania, Luxembourg, Malta, The Netherlands, Norway, Poland, Portugal, Slovakia, Slovenia, Spain, Sweden, Switzerland.
Who can apply for a Golden Visa Portugal?
The program is wide open and welcoming people from all over the world no matter their nationality, religion or culture as is Portugal and its people.
The investor applicant must be of legal age. ( 18 or older ).
The investor must not hold a criminal record with a sentence bigger then 1 year.
How can I get the visa through the property investment with the Golden Visa Portugal?
What types of investments are allowed under the Portugal Golden Visa rules?
The Portugal Golden Visa program was recently widened to include further types of investment. As a result, the following types of investment now qualify for the Portugal Golden Visa program
Acquisition of property above € 500,000 – Golden Visa Portugal
– Minimum investment of € 500,000
– Purchase of one or multiple properties
– All property types qualify
– Possibility of co-ownership
– Freedom to use, rent or lease
– Investment amount may be reduced by 20% (€ 400,000) in case such investment is made in low density population areas
Acquisition of property above € 350,000 – Golden Visa Portugal
for properties more than 30 years old or located in areas of urban renovation.
The property investment must be at least € 350,000, residential or commercial.
The investment can be spread in more then one property
On top of the purchase price you need to add 11 – 12%, which goes to the normal purchase costs, which includes, tax, https://globaledge.msu.edu/countries/portugalstamp duty, VAT, notary and lawyer.
Possible to invest via a foreign company when having majority of this company.
Property investment can be sold after five years when you have achieved permanent residency.
Possibility of renting the property and not living there.
In a pure investment perspective, the immediate access to free circulation of persons or goods in the European Union and the Shengen zone as the CPLP ( Portuguese spoken countries ) Brasil, Angola, Mozambique, Cape Verde, Guinea Bissau, Guinea Conacri, S. Tomé e Príncipe Islands and Timor is a major strategic business advantage.
Portugal Property Law is very clear in what concerns ownership and transition.
The property ownership is absolute and only transferred by death and not limited by time.
Which type of Investment?
The investor may choose from the classic €500.000 or the €350.000 Portugal Golden Visas.
In both scenarios you can start leasing your investment on same day you buy, the reason for the difference of prices has to do with investment risk and speed.
While buying apartments or hotel rooms in the touristic city of Lisbon can be very lucrative and turnkey solution, buying under the 350 Visa Program can be challenging and time consuming considering the rehabilitation works and rules that the law obliges like property has to have at least 30 years old inside a Rehabilitation area and that buyer makes the reconstruction himself.
How can the investor and family obtain Permanent Residency after the 5 year period?
Under Portuguese Law any person that has held a valid Portuguese temporary residency title (e.g. the Portugal Golden Visa) for a period of at least 5 years, he will be entitled to obtain Permanent Residency in Portugal.
The investor and family members will have to meet the following criteria in order to be able to apply for Permanent Residency in Portugal:
– Absence of conviction of relevant crime during the last 5 (five years)
– Proof of income / financial independence
– Proof of accommodation in Portugal
– Basic knowledge of Portuguese
How can the investor and family obtain Portuguese Citizenship with the Golden Visa Portugal?
The Portuguese legislation also sets out that any person who has been validly resident in Portugal for at least 6 (years (either under a temporary or permanent residency title), is eligible for obtaining Portuguese Citizenship.
In order to be able to obtain Portuguese Citizenship, the investor and family members will also have to comply with the following requirements:
– Be at least 18 years old (or at least 16 but married or legally responsible)
– Absence of conviction of any relevant crime
– Pass a simple Portuguese language test, which will serve to show sufficient knowledge of the language
With the Portugal Golden Visa does the investor need to pay taxes in Portugal?
No. If the holder of the Portugal golden visa does not stay in Portugal form more than 183 consecutive days, he/she will not be required to pay taxes for income generated outside of Portugal.
How long will the application takes until the Portugal Golden Visa is issued?
Once the application is submitted at the Services of Foreigners and Borders (SEF), it will take a few months for the application to be processed considering the file is being followed by dedicated lawyers, normally its here where Investors find their biggest obstacle since the majority of law firms and real estate agencies say that all is fast and easy, that they are experts but most cases can take up to 2 years..
Our Immigration lawyers will have all done in less then 6 months and this is not just words, its contractual.
This is how confident we are, ask the same to any other identity and you will see you wont get same dedication or guarantee.
Are there any grounds for refusing the issuing of a Portugal Golden Visa or its renewal?
The investor (or any family member) will only be refused the Portugal Golden Visa (or its renewal) if:
Investor has not maintained the investment for the minimum period of 5 (years)
Investor has not complied with the minimum periods of stay in Portugal
Investor has been convicted of a crime punishable with a prison sentence of more than one year
Investor is in a period where he/she has been banned entry into Portuguese territory following a removal measure of the country
Portugal Golden Visa VS others Visa’s
There are more immigration programs similar to the Golden Visa Portugal as Spain,Greece,Cyprus or Malta but none can compare with the Portugal Golden Visa, the best by far taking in consideration major fields as:
Investment amount, Time to achieve Residency, Citizenship, minimum stay days in the country per year as of course the capital gain in the coming years and Real Estate Market situation.
Country Investment Residency Citizenship EU Passport Minimum Stay Market Situation
Portugal €500,000 5 years 6 years Yes 7 days Booming
Spain €500,000 5 years 10 years Yes 183 days Bobble
Note: Portugal Golden Visa gives temporary Residency, citizenship and passports immediately after the Visa is issued so that the investor and family
On the apposite to other countries with similar programs that created their own to save their bauble real estate market, Portugal property value has grown an average 7% per year since 2009 being one of the hottest estate markets in the World considering its quick value grow and still the big margin to achieve m2 prices as other countries in Europe.
leading residence programs reviewed in the report, Portugal’s program ranked first in the Global Residence Program Index (GRPI). The programs were ranked according to 10 indicators:
Reputation, Quality of Life, Tax, Visa Free Access, Processing Time and Quality of Processing, Compliance, Investment Requirements, Total Costs, Time to Citizenship and Citizenship Requirements.
5th Safest country in the world
Very Low Pollution Index
Why should I chose Portugal Prime for the Golden Visa Portugal?
Portugal Prime is the result of a perfect equation between the best law firms and realtors the country has to offer.
From finding the best property investments and high return yields to the guarantee that the whole process will run smoothly with no hassle for the investor is the way we work and thats why our
appliances have a 100% acceptance and a 6 months or less guarantee.
Understanding how important this information is for investors wishing to apply for the Golden Visa in Portugal and thought it important to clarify this point. Should you require any further help obtaining a suitable property and the Golden Visa Portugal, don’t hesitate to contact us and we’ll ensure that you have access to the best properties and legal advice throughout the whole process.
The Portugal Golden Visa is a great opportunity for anyone to obtain solid and safe residency.
You can learn more about the Golden Visa here! Portugal Prime has the experts to consult you on the Portugal Golden Visa and whether or not it’s the right choice for you! Contact our experts today with any questions and concerns.
Consult the Experts for more information on the Golden Residence Permit Regime.