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Portugal Golden Visa Program
At Baker & Co. Associates, we understand the complexities and challenges associated with the immigration application process, particularly for the Portugal Golden Visa. Our dedicated team of experts is committed to guiding you through every stage with precision and care. From the initial assessment of your eligibility to the preparation and submission of all necessary documentation, we ensure that every detail is meticulously managed to meet the highest standards of compliance.
We recognize that the journey towards securing your Portugal Golden Visa can be daunting, which is why we offer a comprehensive suite of services designed to provide you with peace of mind. Our services include the thorough review and preparation of all required forms, strategic advice on assembling compelling supporting documents, and personalized coaching to prepare you for any interviews or assessments.
Throughout the entire process, we prioritize transparency and communication, keeping you informed and involved at every step. Our commitment to client satisfaction means that you will always have access to our knowledgeable staff, who are ready to answer any questions and provide updates on the status of your application.
At Baker & Co. Associates, our mission is to make your immigration experience as seamless and stress-free as possible. By leveraging our deep expertise and unwavering dedication, we strive to achieve successful outcomes for our clients, helping them to navigate the path to new opportunities with confidence and ease. Trust us to handle your Portugal Golden Visa application with the professionalism and expertise that has made us a trusted partner for individuals and businesses alike. We are here to support you in your journey and to ensure that your documentation is complete, compliant, and compelling, paving the way for your successful application.
About the Visa Program
The Portugal Golden Visa program, also known as the residence permit for investment activity (ARI), is a residency by investment scheme designed for non-EU citizens.
Portugal launched the program in October 2012. The main objective was to attract international capital into the country, as it was much in need after the 2008 economic crisis. The program proved to be a great success, raising over €7.5 billion since then.
Portugal offers a wide coastline, a great climate, hospitable people, and delicious cuisine. Better yet, it provides this high quality of life at an affordable cost of living. These factors make Portugal a very attractive destination for international investors to invest in and obtain the right to live, work, and study in the country.
Furthermore, the Portugal Golden Visa program provides the opportunity to become a permanent resident or a citizen in Portugal in only five years.
Criteria and Eligibility for Portugal Golden Visa Program
To be eligible for the Portugal Golden Visa program, individuals must meet specific criteria set by the Portuguese government. The key criteria and eligibility requirements include:
Investment Options: Applicants must choose one of the eligible investment routes, such as venture capital funds, private equity funds, business setup, or donations to cultural and artistic activities. The minimum investment amounts vary depending on the chosen route, starting from €250,000 for some options.
Financial Stability: Applicants need to demonstrate that they have the financial means to support themselves and their family during their stay in Portugal. This includes providing proof of sufficient funds to cover living expenses.
Clean Criminal Record: Individuals applying for the Golden Visa program must have a clean criminal record both in Portugal and in any other country where they have resided.
Health Insurance: Applicants are required to have valid health insurance coverage while residing in Portugal.
Minimum Stay Requirements: There are specific minimum stay requirements that applicants must fulfill to maintain their Golden Visa status. Initially, individuals must spend at least seven days in Portugal during the first year of obtaining the visa and 14 days every two years thereafter.
Family Members: The program allows for family reunification, meaning that spouses, dependent children under 18 years old, financially dependent children over 18 who are full-time students, and financially dependent parents can be included in the application.
Residency Permit Renewal: After the initial period of validity, which is usually one year, individuals can renew their residency permit as long as they continue to meet the program’s requirements.
Portuguese Citizenship Eligibility: Holding a Golden Visa allows individuals to become eligible for Portuguese citizenship after five years of legal residency in Portugal if all conditions are met.
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Requirements: What Are the Golden Visa Portugal Requirements?
Minimum Residence Requirement
Portugal Golden Visa program has a low stay requirement. Portugal requires Golden Visa residents to spend a minimum of seven days annually on average in the country.
| Validity Period | Stay Requirement | |
|---|---|---|
| Initial GV Residence Permit | Two (2) years | Fourteen (14) days within two years |
| Subsequent GV Residence Permits | Two (2) years | Fourteen (14) days within two years |
Important Note: As of April 2020, the initial residence permits became valid for two years (used to be one year) and the subsequent permits became valid for two years each. This was due to a legislative change in the Portuguese immigration law. In case the change is permanent, it is expected that the initial card that is valid for two years will require the cardholder to spend at least fourteen days within that two-year period physically in Portugal. Then the renewal cards will also be valid for two years each and the applicants will need to spend at least fourteen days physically in Portugal within the two-year period.
Make and Maintain a Qualified Investment for Five Years
You’re required to present supporting evidence that you have individually made the investment of the minimum amount required. As the main applicant, you must maintain the investment as long as you and your dependents hold Golden Visa residency status.
If and once you become a permanent resident or a Portuguese citizen, the investment no longer needs to be maintained. You can then liquidate whichever investment you made.
Proper Documentation
You need to provide the following documents in order to apply for Portugal Golden Visa Program:
1) Copy of a passport or other government-issued travel document,
2) Proof of evidence of the qualifying investment made by the main applicant individually:
→ If investment fund; proof of fund subscription from the fund manager.
3) Declaration from a Portuguese financial institution confirming the transfer of funds,
4) Criminal record of the current country of residence,
→ Must be issued within three (3) months of the form submission.
5) A completed form authorizing AIMA to access criminal records in Portugal,
6) A sworn declaration of compliance with the minimum investment requirements for the necessary time period of five years,
7) Documents outlining good standing with the Portuguese Tax and Customs Authority & Social Security system,
→ Must be issued within 45 days of the form submission.
8) Receipt of ARI application payment,
Unless otherwise stated, it is best to have the documentation issued within three months of your Golden Visa application submission.
Legalizing Documents
All the above documents issued by a non-Portuguese entity need to be legalized. The legalization must have an apostille if the subject country is part of the Hague convention.
Translating Documents
Any original document that is not in Portuguese needs to be translated into Portuguese and certified. The certification is typically performed by a notary.
Related Fees
Below is a chart of Portugal Golden Visa government application fees;
| Frequency | Amount | |
|---|---|---|
| Processing Fee | Once at the beginning and then at each renewal | €773.74 per applicant (+ €83 /dependent) |
| Initial Application Fee | Once at the beginning | €7.730 per person |
| Renewal Application Fee | At each renewal | €3.866 per person |
| Legal Fee | Progress payments | Differs between Law Firms and investment types |
Bank Account and NIF Number
Portugal requires you, the main applicant, to make the investment from your bank account in Portugal. Accordingly, it is mandatory for you to have an account in a Portuguese bank. You must also have a NIF number, which is a tax identification number in Portugal, to open the account.
Both obtaining a NIF number and opening a bank account in Portugal are pretty straightforward. They can both be done in half a day.
Getting a NIF Number
- Get proof of address from your country of residence,
- Bring a government-issued identification and your proof of address to a Finanças office in Portugal,
- Get your NIF number on the spot within an hour.
You can also provide your lawyer with a power of attorney and they can complete this step without you even being present in Portugal.
Opening a Portuguese Bank Account
Unlike many countries in the world, Portuguese banks make it quite easy to open a bank account for non-residents and foreigners. The banking and maintenance fees are also quite low compared to the rest of Europe. Just follow the below steps:
What you will need:
- Passport or government-issued travel document,
- NIF number,
- Portuguese phone number,
- Proof of address from your country of residence,
- Proof of income/payslip,
What you will do:
- Go to the bank branch and open your account.
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