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What is the Portugal Golden Visa ?

The Portugal Golden Visa,  is a fast track for foreign investors from non-EU countries to obtain a fully valid residency permit in Portugal.  It was launched by Portuguese authorities in October 2012, through which non-EU citizens can through investment activities in Portugal can qualify for a residency permit and eventually passport for Portugal. This permit allows the investor to enter and/or live in Portugal, and to travel freely within the vast majority of European countries (Schengen Area).

The Portugal Golden Visa is a straightforward, flexible programme, aimed at attracting foreign investment into Portugal.  It is considered one of the most attractive residency programmes in the world, since investors do not need to live in Portugal and can include both dependent children and dependent parents.

 

What are the main advantages of the Portugal Golden Visa?

The holders of a Portuguese Golden Visa have many advantages:

 

What types of investments are allowed under the Portugal Golden Visa?

The three most popular types of investments that qualify for the Portugal Golden Visa are: 

 Please note, only investments made after 8th October 2012 are eligible for the Portugal Golden Visa and you only need to make of these investments

 

What are the general requirements for the Portugal Golden Visa?

The Portugal Golden Visa is one of the most popular residency by investment programmes because of its simplicity, speed and limited number of requirements.    It requires investor to comply with the following general requirements across all types of qualifying investments: 

 

What is the flexibility within each investment type for the Portugal Golden Visa?

The Portugal Golden Visa allows considerable freedom in each type of investment

(a)  Property investment: 

(b)  Transfer of Funds 

(c)  Job Creation 

 

What is the validity of the Portugal Golden Visa ?

The Portugal Golden Visa will be valid for an initial period of 1 (one) year and then will be renewed for subsequent periods of 2 years.

 

Can family be included in the Portugal Golden Visa Residence Permit?

The Portugal Golden Visa will be extended to family members, namely children, spouse and dependent family members.  The family members will also be eligible for Permanent Residency after 5 years Portuguese Citizenship after 6 years.  Portuguese law defines family as:

 

How can the investor and family obtain Permanent Residency and / or Citizenship.

Under the laws of Portugal, any person that has held a valid Portuguese temporary residency card (Portugal Golden Visa) for a minimum period of 5 years, will be entitled to obtain Permanent Residency in 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: 

 

What documents are needed for the application of the Portugal Golden Visa?

The application for the Portugal Golden Visa requires submission of the following documentation: 

It should be noted that document issued by foreign authorities need to be Translated / legalized before being submitted in Portugal.  This legalization means obtaining the Appostille of the Hague Convention (when applicable) or legalization by the Portuguese Consular services.

 

What are the costs for the Portugal Golden Visa ?

Typical application costs paid to the Portuguese Immigration and Borders Services (SEF) for the Portugal Golden Visa  

 

What are the taxes and costs for property purchase and ownership?

For the Portugal Golden Visa  via property investment, an investor must also consider the following taxes and costs:

a)    Payable when the property is purchased :

b)   Payable on an annual basis:

c)   Payable on an annual basis:

 

Does the investor have to live in the property he is purchasing or can it be rented out ?

There is no obligation for the investor to live in the property that he has bought for the Portugal Golden Visa Permit.  It can be rented if the investor wishes.  It must be noted that rental income will be taxed at a rate of 28%.  

 

With the Golden Visa does the investor need to pay taxes in Portugal on his worldwide income?

If the holder of the 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.  Only income arising in Portugal (eg from rent, interest) is taxed in Portugal at 28%.

 

Can the investor sell the investment at any time if he no longer needs the Portugal Golden Visa?

Yes, the investor is free to sell the property / investment if he no longer wishes to continue with the Golden Visa programme.  However to qualify fully, investor must hold the investment during Portugal Golden Visa’s validity period – 5 year

 

What are the grounds for refusing the Portugal Golden Visa ?

The investor (or any family member) will be refused the Golden Visa, or its renewal, if:

The Golden Visa may be also refused on the grounds of public order, public security or public health.

 

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