Portugal Golden Visa - Benefits and Requirements
Portugalâs Golden Visa programme is among one of the most popular visa schemes in the world. The residency through investment scheme not only unlocks the pleasures of life in Portugal to visa holders, unlike many other golden visa schemes, it is not blacklisted by the OECD, and the investment requirements are not excessive. In the Algarve, for example, which is considered a low-density region, the investment does not necessarily need to exceed â¬280,000 â see the specifics below.
There are numerous benefits to reap by holding a golden visa from Portugal. However, there are certain conditions that must be met. We asked the experts at Ideal Homes International for a clear overview on the benefits and requirements for obtaining a golden visa in Portugal through property investment.
Ideal Homes International is a leading real estate company in Portugal offering expert services for those seeking a new home, investment opportunities and access to the Golden Visa programme.
What is the Golden Visa scheme in Portugal
Launched in 2012, the scheme allows for residency, and eventually citizenship, through investment. Open to all, except citizens of Portugal or EU countries, the visa grants the right to live and work in Portugal. Since its launch, it has generated over â¬5 billion in investment.
What are the benefits of Portugalâs Golden Visa
- The right to live and work in Portugal but with no obligation to move permanently to Portugal.
- Visa-free travel within the Schengen area of Europe.
- Low minimum-stay requirements. Just 7 or more days in the first year, 14 or more days in the following years.
- Dependent family members can also obtain residency
- After 5 years it is possible to obtain permanent residency or citizenship and a Portuguese passport, which allows you to reside and work anywhere within the EU.
- Portugal is considered to be one of the safest countries in the world and is welcoming of visitors
- Fabulous climate, lifestyle and history
- Excellent real estate investment and return
- Ease of access to the rest of Europe and the world
Check out this informative video by Ideal Homes International on the Golden Visa and the property buying process in Portugal.
What are the requirements to apply for Portugalâs Golden Visa
In order to be eligible for the scheme you must conduct an investment activity either as an individual or a company set up in Portugal or another EU Member State, meet the minimum stay requirements above, be a non-EU, EEA or Swiss citizen, and do ONE of the following:
- Purchase real estate property with a value of at least 500,000â¬ (five hundred thousand euros) or 400,000â¬ (four hundred thousand euros) for the Algarve as it is classed as a low-density area
- Purchase real estate property to refurbish that was constructed more than 30 years ago or located in an urban regeneration area and with a value of at least 350,000â¬ (three hundred and fifty thousand euros) or 280,000â¬ (two hundred and eighty thousand euros) for the Algarve
- Make a capital transfer of at least 1,000,000â¬ (one million euros)
- Create at least 10 job positions
- Make a capital transfer of at least 350,000â¬ (three hundred and fifty thousand euros) for investing in research activities conducted by private or public scientific research institutions involved in the national scientific or technological system
- Make a capital transfer of at least 250,000â¬ (two hundred and fifty thousand euros) for investing in artistic output or supporting the arts, for reconstruction or refurbishment of the national heritage, through the local and central authorities, public institutions, public corporate sector, public foundations, private foundations of public interest, networked local authorities, local corporate sector organizations, local associations and public cultural associations, pursuing activities of artistic output, and reconstruction or maintenance of the national heritage
- Make a capital transfer of at least 500,000â¬ (five hundred thousand euros), for purchasing shares in investment funds or in venture capital geared to capitalize small and medium companies that, in turn, must present a feasible capitalisation plan
As might be expected, there are many documents required to apply for the Golden Visa, all of which need to be in Portuguese. As with any undertaking and investment, professional advice should be sought. Ideal Homes International have a team of specialists and a portfolio of properties that can help you obtain your Golden Visa.
Changes to the Golden Visa programme
In February 2020, the Portuguese government announced they had approved the possibility of a legislative amendment to the regime. However, due to the global pandemic and its impact, this has been put on hold. However, should the amendment go through, investors will see restrictions on where they can purchase property in Portugal with the main areas potentially affected being Lisbon, Porto and the Algarve. So, if you want to take advantage of the current Golden Visa programme, do it now.
Ideal Homes International
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