Portugal launched its Golden Visa program in October 2012. Since then, the program has been a great success. It brought more than EUR 5.5 billion into the Portuguese economy. The scheme offers residency to non-EU/EEA nationals. Interested investors may take advantage of the program by investing the minimum amounts required by the government.
EU/EEA and Swiss nationals, on the other hand, do not need to have a visa to reside in Portugal.
Eligibility Criteria for the Portugal Golden Visa Program
The applicants must be non-EU/EEA and non-Swiss citizens. The applicants need to be older than 18 years old with a clean criminal record. There are not many restrictions on applications for the program. However, there is an extensive due diligence process. Thus, the applicants must provide sufficient information about their income. They must prove their financial balance and criminal record are clean without jeopardy. If there is insufficient or dodgy information on the application, there is a high chance that it will get rejected. So, it is a good idea to submit all documentation with thorough information.
Minimum Investment Requirements for the Portugal Golden Visa Program
The applicants must make an investment to take advantage of the Portugal Golden Visa Portugal. There are several investment routes that are accepted to enter the program. To receive a Golden Visa, applicants must finalize at least one investment within the scheme.
The different methods investors may choose from are:
- Acquisition of Portuguese real estate. The minimum investment requirement for this option is EUR 500,000.
- Acquisition of Portuguese real estate which is at least 30 years old and located in urban regeneration areas designated by the government. The minimum investment requirement for this option is EUR 350,000.
- Investment at small or medium-sized Portuguese businesses. The minimum investment requirement for this option is EUR 500,000.
- Investment at Portuguese art or cultural projects. The minimum investment requirement for this option is EUR 250,000.
- Investment at scientific research projects conducted in Portugal. The minimum investment requirement for this option is EUR 350,000.
- Capital transfer into Portugal. The minimum investment requirement for this option is EUR 1 million.
- Creation of at least 10 jobs in Portugal.
One additional requirement of the program is the minimum physical residency. The Golden Visa holders must spend an average of seven days per year in the country. Each Golden Visa card is valid for two years at a time and the residence permit holder has to spend a minimum of fourteen days in Portugal within the two year period.
Benefits of the Portugal Golden Visa Program
There are many benefits to being a Portuguese resident.
First of all, it enables holders to live, study, and work in Portugal. It grants visa-free travel to all European Schengen state countries. Investors may include their family members in their application. Moreover, Golden Visa holders can benefit from the public services of Portugal, provided that they choose to live in the country full time.
The most important benefit is the ability to apply for Portuguese citizenship at the end of five years.