Golden Visa Portugal ! The Definitive Guide 2022

The Portugal Golden Visa program is one of the most popular programs to obtain residency through investments in Europe and the World. The program began in October 2012 and since then nearly ten thousand families have received their Golden Visas.

Why is the Golden Visa from Portugal so sought after? Summing up:

It provides a range of relatively affordable investment options for you to choose from when getting your residency permit.
It is only necessary to spend a minimum of seven days a year in Portugal
Allows access, without the need for a visa, to any of the states of the Schengen Area
You can become a Portuguese citizen within five or six years
Portugal is not a blacklisted country and its Golden Visa program is also not present in any blacklist of residency programs.
Portugal is a safe and accessible country, number 3 out of 163 countries in the 2020 Global Peace Index, with a high quality of life, solid infrastructure, excellent climate and good health and education systems.
In this Definitive Guide to the Golden Visa of Portugal 2021, you will learn:

What is the Golden Visa of Portugal
The benefits and advantages of the Golden Visa from Portugal
How to get the Golden Visa from Portugal
and many other details about the complete Golden Visa process.

What is the Golden Visa for Portugal?
Portugal’s Golden Visa program, also known as the residence permit for investment activity (ARI), is a residence-through-investment scheme for non-European Union citizens.

Portugal launched the program in October 2012. The main objective was to attract international capital to the country, which was in dire need after the 2008 economic crisis. The program proved to be a great success, raising 5.5 billion euros in a short time. more than eight years.

Portugal offers an exuberant natural landscape, a vast coastline, a sunny climate, hospitable people and delicious cuisine. And on top of all that, it offers high quality of life at a very affordable cost compared to other European capitals. These characteristics make Portugal a very attractive destination for international investors to obtain the right to live, work and study in the country.

In addition, Portugal's Golden Visa program gives you the opportunity to become a permanent resident or citizen of Portugal in just five years.

Benefits: What are the benefits of the Golden Visa from Portugal?
Travel to other countries without a visa
The Golden Visa permit puts you in the Schengen Area central system. In this way, you will be able to travel freely throughout Europe without an additional visa.

After five years, if you decide to obtain Portuguese citizenship, you will be able to apply for a Portuguese passport. The Portuguese passport allows you to travel to 186 countries without a visa.

Living, working and studying
The Portugal Golden Visa allows you to live, work and study in Portugal.

If you decide to live full-time in Portugal with this permit, you must have health insurance. You will, however, have full access to all public services, including healthcare and education. Read more about the Health System in Portugal.

Public schools follow the Portuguese curriculum, however, there are several British and American private international schools. For more information, read our guide on the Portuguese Education System and International Schools.

The work permit allows you to work anywhere, as well as start and run your own business in Portugal.

family reunification
As the main applicant, you will be able to extend your Golden Visa to your family members. The application process takes place jointly for the main applicant and dependents.

The following family members can apply together with the main applicant:

Spouse,
Children under 18 years old,
Dependent children under the age of 26, provided they are full-time students and not married,
Parents of the main applicant, if over 65 years of age.
Citizenship and Passport
You will be able to apply for citizenship after five years of holding a Golden Visa in Portugal.

To qualify for citizenship, you will need:

Not having outstanding tax payments in Portugal,
Have clean criminal records in Portugal and in your country of origin,
Take and pass the basic Portuguese language test.
Later in this article, we will address the specifics of the Portuguese language test.

Tax benefits
The Golden Visa program does not entail any tax liability for its applicants, unless they spend more than 183 days a year in Portugal. If this occurs, you will become a tax resident in Portugal.

Portugal has a favorable tax regime for foreigners who have considered moving and becoming tax residents in Portugal. Through the non-habitual resident (NHR) program, the country offers certain income tax exemption for the first ten years of residency. The program changed slightly in 2020, exempting foreign retirees from getting tax breaks on their pension income.

General Benefits
Whoever applies for the Golden Visa will have the right to live and work in Portugal, but there is no obligation to do so. The country offers a favorable tax regime for those who decide to move to Portugal. Applicants can travel freely within the Schengen Area of ​​European countries. Most family members will also be able to obtain the Golden Visa and all its benefits together with the main applicant. After holding the Golden Visa for five years, applicants can apply for citizenship or permanent residency in Portugal and obtain a passport. The Portuguese passport allows its holder to live, work, study in any country of the European Union.

Eligibility: Who is eligible for Portugal's Golden Visa?
nationalities
Any non-EU/EEA/Switzerland citizen can apply for the Golden Visa from Portugal.

prerequisites
The main applicant must be at least 18 years old and have no criminal record in their home country as well as in Portugal. Funds for the investment must come from outside Portugal.

Minimum Investment for Golden Visa
To qualify for the program, a minimum investment must be made. Investment categories include real estate, venture capital funds, capital transfer, business formation and endowments. Later in this guide, you will find a list of eligible investments.

Members of the family
In the context of family reunification, the main applicant can extend the Golden Visa to the rest of the family members. A comprehensive list of eligible dependents is presented in the previous section.

American applicants for the Golden Visa from Portugal
US citizens can apply for the Portuguese Golden Visa. Foreign-owned real estate has several advantages for US tax residents, making the program's real estate investment option especially attractive.

American entrepreneurs can also choose to expand their business to Portugal, taking advantage of the Golden Visa program. Portugal's tax incentives have made it a very attractive destination to move to.

You might like our article: Golden Visa from Portugal for Americans

UK citizens
British investors around the world are bracing for the repercussions of Brexit in terms of their travel capabilities. At the end of 2020, UK passports will lose the benefit of free transit within the Schengen Area. British citizens target Portugal for two reasons: desirable lifestyle and European citizenship through investment.

From 31 December 2020, UK citizens will be eligible to apply for Portugal's Golden Visa programme. This gives them the right to travel within the Schengen Area. You can check out more details in our article about Vista Golden Portugal for UK citizens.

LGBTQ+ Partners
Portugal is very progressive in terms of LGBTQ+ rights. It is one of the most LGBT-friendly countries in the world. Same-sex couples are recognized and same-sex marriage is legal in the country. Consequently, same-sex partners are eligible to obtain the Golden Visa, as are dependents, through family reunification.

To learn more, read our guide to Portugal for LGBT Expats.

Requirements: What are the requirements to obtain the Golden Visa from Portugal?
Minimum residency requirement
Portugal's Golden Visa program has a very low stay requirement. Portugal requires Golden Visa residents to spend a minimum of seven days a year in the country.

Validity Period Stay Requirement
VG Initial Residence Permit Two (2) years Fourteen (14) days within two years
Subsequent VG Residence Permits Three (3) years Twenty-one (21) days within three years
Important note: From April 2020, initial residence permits became valid for two years (used to be one year) and subsequent permits became valid for three years each. This is due to a change in Portuguese immigration law. In case the change is permanent, the holder of the initial visa valid for two years is required to physically spend at least fourteen days during this period in Portugal. Renewal visas will then be valid for three years each and applicants must spend at least twenty-one days physically in Portugal every 3-year period.

Make and Hold a Qualifying Investment for Five Years
The applicant must provide evidence that he has individually made the investment of the minimum required amount. As the primary applicant, you must maintain the investment as long as you and your dependents have Golden Visa residency status.

After you become a permanent resident or a Portuguese citizen, the investment no longer needs to be maintained. You will then be able to liquidate any investment you have made.

Appropriate Documentation
You will need to provide the following documents to apply for the Golden Visa:

Copy of passport or other government-issued travel document
Evidence of proof of qualifying investment made by the individual lead applicant:
If it is a real estate investment: a deed or promissory sale agreement with proof of payment of the deposit
If it is an investment fund: proof of subscription to the fund from the fund administration
Statement from the Portuguese financial institution confirming the transfer of funds
Proof of health insurance:
If in Portugal, from the Unified Health System in Portugal
If outside Portugal, from an insurance company with international coverage
Criminal record of current country of residence
Must be issued within three (3) months of form submission
Completed form authorizing SEF to access criminal records in Portugal
A sworn statement on compliance with the minimum investment requirements for the required period of five years
Documents proving regularity before the Tax and Customs Authority & the Social Security System
Must be issued within 45 days of form submission
ARI application payment receipt
Unless specifically requested to the contrary, it is best for documentation to be issued within three months of submitting your Golden Visa application.

Legalizing Documents
All previous documents issued by a non-Portuguese entity must be legalized. Legalization must be an apostille if the country in question is a party to the Hague convention.

Document translation
Any original document that is not in Portuguese will need to be translated into Portuguese and certified. Certification is normally carried out by a notary.Related Fees
Below is a chart of government fees for applying for the Golden Visa from Portuga

Frequency Amount
Processing Fee Once at start and after each renewal 533.90 Euros (+ 83.30 Euros/dependant)
Initial Application Fee Once at the beginning of the process 5,336.40 Euros per person
Renewal Application Fee With each renewal 2,668.20 Euros per person
Legal Fee Progressive payments Varies according to law firms and types of investment
Bank Account and NIF Number
Portugal requires that you, the main applicant, make the investment from your bank account in Portugal. Therefore, it is mandatory 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 quite simple.

How to get a NIF number
Have proof of address from your country of residence ready
Bring a government-issued ID and your proof of address to a Finance office in Portugal
Receive your NIF number on the spot in one hour
You can also provide a power of attorney to your lawyer and he will be able to complete this step even without you being present in Portugal.

How to Open an Account in a Portuguese Bank
Unlike many countries in the world, Portuguese banks make the account opening process quite easy for non-residents and foreigners.

The law office will do this on your behalf and notify you if anything is missing.

In normal times, pre-application takes about 5 weeks, so you will be able to schedule your appointment date.

Step Six: Schedule and attend your appointment with the SEF
After reviewing your pre-application, SEF will provide you with a set of available dates for a biometric consultation. On the date chosen for the consultation, you and your dependents had to physically go to the corresponding SEF office to send your fingerprints and formalize the application.

Step Seven: Get Your Golden Visa and Renewal
Bingo! You and your dependents will receive your Golden Visa resident cards. Your law firm or professional advisor will collect the cards and mail them to you. Each card is valid for two years and, at the end of the validity period, you must renew your Golden Visa card to receive a new one.

In normal times, it takes about four months from your biometric appointment to receive your cards.

Step Eight: Become a Portuguese Citizen
After renewing your initial Golden Visa card twice and completing a total of five years, you will be able to apply for permanent residency or citizenship in Portugal. Applying for citizenship typically takes six months to a year. Once you receive your permanent residency or citizenship, you will no longer need to keep your investment in Portugal.

Timeline: What is the timeline for the Golden Visa process?
The initial application request and supporting documents are submitted online to the Foreigners and Borders Service (SEF). SEF is the official immigration and border service in Portugal. After your application is approved, you will need to conduct an in-person interview.

There are numerous SEF offices in Portugal and you can apply in any of them, regardless of where you made your investment. In this way, it is possible to avoid offices with long waiting lists, such as the SEF office in Lisbon. As long as it's not one of the high-demand locations, it can take up to six months for the SEF to approve and provide a date for the biometric appointment.

As the lead applicant, you and all of your dependents will be able to make the SEF appointment together. After the personal interview, you will receive your Golden Visa cards. It usually takes about four months to receive these residence permit cards.

The period of validity of your residency begins on the day your Golden Visa card is issued.

Year One and Two
Your first Golden Visa residency card will be valid for two (2) years. In these two years, you must spend a total of fourteen (14) days in Portugal.

At the end of this period, you need to renew your residence permit. Therefore, between 30-90 days before your card's expiry date, you will need to repeat your SEF appointment to renew your card. For renewal, you will need to resubmit updated documentation (eg criminal records), biometric data and application processing fee.

Year Three, Four and Five
Your renewed Golden Visa residence permit will be valid for three (3) years. In these three years, you must spend at least twenty-one (21) days in Portugal.

year five
At the end of the fifth year, you will have three options:

Apply for Permanent Residence in Portugal
Apply for Portuguese Citizenship
Continue with the Golden Visa temporary residency program
If you choose to become a permanent resident or citizen of Portugal, you will no longer need to maintain the investment previously made through the Golden Visa.

The above application, stay and renewal requirements always apply to all Golden Visa cardholders, including primary applicants and dependents.

Fees and Costs: What are the Government Fees and Legal Costs Related to Golden Visa?
In addition to the minimum investment and fees required to complete the transaction, you will need to pay legal fees and government fees related to your application. Below you will find a detailed list of all associated costs.

Government Fees

Frequency Amount
Processing Fee Once at start and after each renewal 533.90 Euros (+ 83.30 Euros/dependant)
Initial Application Fee Once at the beginning of the process 5,336.40 Euros per person
Renewal Application Fee With each renewal 2,668.20 Euros per person

started to gain strength in recent years.

Step Two: Gather All the Necessary Documents
You need to gather all necessary documents for you, the main claimant, as well as all documents for your dependents, if any. This step can be a little tiring, especially with all the translations, notarization, handouts and certifications it involves. However, a professional consultant will be able to help you with this step, thus relieving your stress and boredom.

Step Three: Get a TIN and Open a Bank Account
As mentioned above in the article, getting a NIF and opening a bank account in Portugal is something that can be done practically in a day. This is a task that you can delegate to your lawyers to carry out without your presence in the country.

Step four: make the investment
Now that you've chosen the type of investment you want, it's time to pay and close your trade in Portugal.

Step five: Submit the pre-application
With your qualified investment made and your paperwork ready, you should pre-apply for the SEF online. In most cases, your law firm will do this on your behalf and notify you if anything is missing.

In normal times, pre-application takes about 5 weeks, so you will be able to schedule your appointment date.

Step Six: Schedule and attend your appointment with the SEF
After reviewing your pre-application, SEF will provide you with a set of available dates for a biometric consultation. On the date chosen for the consultation, you and your dependents had to physically go to the corresponding SEF office to send your fingerprints and formalize the application.

Step Seven: Get Your Golden Visa and Renewal
Bingo! You and your dependents will receive your Golden Visa resident cards. Your law firm or professional advisor will collect the cards and mail them to you. Each card is valid for two years and, at the end of the validity period, you must renew your Golden Visa card to receive a new one.

In normal times, it takes about four months from your biometric appointment to receive your cards.

Step Eight: Become a Portuguese Citizen
After renewing your initial Golden Visa card twice and completing a total of five years, you will be able to apply for permanent residency or citizenship in Portugal. Applying for citizenship typically takes six months to a year. Once you receive your permanent residency or citizenship, you will no longer need to keep your investment in Portugal.

Timeline: What is the timeline for the Golden Visa process?
The initial application request and supporting documents are submitted online to the Foreigners and Borders Service (SEF). SEF is the official immigration and border service in Portugal. After your application is approved, you will need to conduct an in-person interview.

There are numerous SEF offices in Portugal and you can apply in any of them, regardless of where you made your investment. In this way, it is possible to avoid offices with long waiting lists, such as the SEF office in Lisbon. As long as it's not one of the high-demand locations, it can take up to six months for the SEF to approve and provide a date for the biometric appointment.

As the lead applicant, you and all of your dependents will be able to make the SEF appointment together. After the personal interview, you will receive your Golden Visa cards. It usually takes about four months to receive these residence permit cards.

The period of validity of your residency begins on the day your Golden Visa card is issued.

Year One and Two
Your first Golden Visa residency card will be valid for two (2) years. In these two years, you must spend a total of fourteen (14) days in Portugal.

At the end of this period, you need to renew your residence permit. Therefore, between 30-90 days before your card's expiry date, you will need to repeat your SEF appointment to renew your card. For renewal, you will need to resubmit updated documentation (eg criminal records), biometric data and application processing fee.

Year Three, Four and Five
Your renewed Golden Visa residence permit will be valid for three (3) years. In these three years, you must spend at least twenty-one (21) days in Portugal.

year five
At the end of the fifth year, you will have three options:

Apply for Permanent Residence in Portugal
Apply for Portuguese Citizenship
Continue with the Golden Visa temporary residency program
If you choose to become a permanent resident or citizen of Portugal, you will no longer need to maintain the investment previously made through the Golden Visa.

The above application, stay and renewal requirements always apply to all Golden Visa cardholders, including primary applicants and dependent