Citizenship
March 18, 2024
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Portugal Golden Visa: an overview of investment options

The Portugal Golden Visa can be obtained differently. There are such ways as capital transfer and creating jobs. However, the most popular options are purchasing real estate for at least €280,000 and investing €500,000+ in fund units.

The Portugal Golden Visa investment options

Purchase of real estate

To obtain the Portugal Golden Visa an investor can purchase real estate. It is one of the most popular investment options because Portugal offers many attractive and profitable properties. The price of real estate is increasing each year; therefore, investors have an opportunity to return the money with additional percentages.

There are four types of investments available:

  • €280,000+ — for properties that are older than 30 years old, subject to refurbishing and located in sparsely populated areas;
  • €350,000+ — for properties that were built more than 30 years ago and are subject to refurbishing;
  • €400,000+ — for properties that are new and located in sparsely populated areas;
  • €500,000+ — for new properties.

Investors can rent their real estate out; however, they need to own it for at least 5 years. The gross rental yield in Portugal is around 5.3%. 

Starting in 2022, there are limits on where to buy residential objects. Investors can’t purchase them in big or resort cities and can only choose real estate for living in the country's inner regions as well as on the Azore islands and in Madeira.

At the same time, properties for commercial use can be bought anywhere.

Investment options for obtaining the Portugal Golden Visa

Modern apartments on the island of Madeira have one bedroom, one bathroom, private terraces or balconies, an open kitchen, and a living area. The price varies from €175,000 to €450,000

Investment options for Golden Visa in Portugal

Commercial premises in a residential complex with infrastructure are located in Lisbon’s centre. The sale price is €896,051—€1,772,133

Investment in fund units

An investment fund is a financial company aiming to attract and increase the investor's capital. It gathers investors' money and puts them in chosen assets such as real estate, Portuguese companies, or the stock market. 

Investments operate for several years, and the fund distributes the money among investors after receiving profits. 

Investment in fund units is the second-popular option under the Portugal Golden Visa program. Investors buy fund units for at least €500,000+, which need to be held for at least 5 years. However, the usual operation time is 6—10 years.

Capital transfer

A capital transfer is the third most popular option among investors. They need to transfer at least €1,500,000+ to an account in a Portuguese bank. 

Investors can choose any bank that is licensed by the Central Bank of Portugal, both national and international. Among Portugal's biggest and most reliable banks are Caixa Geral de Depositos (CGD), Millennium BCP, Novobanco, Banco Santander Totta.

Investments must stay in the bank account until the investor and their family members receive permanent residence. That takes around 6 years. However, it doesn't require much engagement from the investor, which makes this option attractive.

Creating of jobs

There are two ways to invest in a business, both of which are connected to creating jobs.

The first one includes a transfer of at least €500,000 to the charter capital of a Portuguese company and the creation of 5 jobs after.

The second way is to create 10 jobs. A capital transfer is not required. The number of jobs can be declined to 8 if the company is located in a region with a low population density.

Under this option, investors can choose an already existing company or register a new one.

This option is especially suitable for those who want to move their company from another country to Portugal. However, the recruitment procedure must be completed before applying for the Golden Visa. That means all the workplaces must be equipped and the employees hired. They are not required to be Portugal citizens or residents; they can be nationals of any other country.

Investment in the science and cultural sector

Investment in scientific and cultural sectors is among the least popular ways to obtain the Golden Visa.

The first way is to put money into research activities conducted by public or private research institutions participating in the national science and technology program. The investment sum is €500,000, and it can't be returned.

The second way is to invest in the following:

  • artistic works;
  • support of art; 
  • the renovation, reconstruction, or preservation of national heritage. 

The investment sum is €250,000+, and it can't be returned.

Comparison of investment options

According to the SEF statistics, since the program’s launch in 2012, Portugal authorities granted 11,180 residence permits to investors and 18,368 to their family members. 

The majority of them, 10,322, were issued for purchasing real estate. 8,940 permits were granted for purchasing properties with a value equal to or above €500,000 and 1,382 — for buying real estate that costs €350,000+. 

The second most popular option was a capital transfer. That option granted 836 residence permits. 

Expenses and conditions under different investment options

Sum of investmentAdditional expensesInvestment return
Purchase of real estate€280,000—500,000+Transfer tax: 6—8% of the property value
Investment in fund units€500,000+Commission:
up to 7.5% 
Capital transfer€1,500,000+
Creating of jobs €0 / €500,000+
+ 10 / 5 new jobs
Investment in science€500,000+
Investment in the cultural sector€250,000+

There are also such expenses as an application fee and a residence permit card issuance fee that are €539 per person and €5,336.40 respectively. 

Requirements to obtain the Golden Visa

For the main applicant. Investors who apply for the Portuguese Golden Visa must fulfil several requirements. They are the following:

  • be over 18 years old;
  • not be citizens of any EU or EEA country or Portugal;
  • have no criminal records;
  • source of investment is located outside Portugal;
  • ability to prove the legality of income;
  • have no debts in Portugal;
  • have health insurance.

For family members. Close family members can also be added to the application.

A spouse or a partner in the registered union is not required to depend on the main applicant. They must have no criminal records and be married to the investor for at least 2 years.

Children under 18 years old must be dependent on the investor.

Children 18—26 years old must be dependent on the investor and be registered at the same address as them and study in a university. They must also be unmarried. If the investor's child is over 26 years old, they can file a separate application with the investor being a sponsor.

Parents of the investor or their spouse can be of any age. However, if they are under 65 years old, one must prove they are financially dependent on the main applicant.

Siblings must be under 18 years old and in the applicant's custody.

For documents. Among the documents required for filing an application are the following:

  • a passport or any other valid travel document;
  • evidence of entry and legal stay in the territory of Portugal;
  • health insurance;
  • a certificate that proves one has no criminal records;
  • a taxpayer number in Portugal and the country of origin;
  • a declaration of no debts;
  • a proof of the investment made;
  • a receipt proving the payment of the application fee;
  • a statement confirming applicant’s compliance with all the investment requirements in Portugal;
  • a permission to SEF to check the Portuguese criminal record files.

How to obtain a Portugal Golden Visa: a step-by-step procedure

The process of obtaining the Golden Visa usually takes from 8 to 10 months. Immigrant Invest accompanies investors during the whole period.

8—10 months
Period of obtaining the Portugal Golden Visa
  1. Preliminary Due Diligence. Firstly, a licensed agent checks the investor and their family members against different databases and on the Internet. It reduces the risk of refusal to 1%.
  2. Choosing the investment option. Immigrant Invest provides the investor with all advantages and disadvantages of every investment option. Then, when the choice is made, we help the investor to choose the best property, bank, project, etc., to invest in.
  3. Opening a bank account in a Portuguese bank. The investment can be made from a bank account in the Portuguese bank only. To open one, the investor must obtain an individual taxpayer number and come to Portugal.
  4. Fulfilment of investment option. The investor needs to transfer money to the bank account in the Portuguese bank. Then this money is invested into the chosen object or project.
  5. Preparation of the required documents and filing an application. Immigrant Invest helps the investor to gather all the required documents. Then we translate and notarise them as well as fill in the government forms.
  6. Biometrics. To submit fingerprints, the investor and their family members need to come to Portugal. At that stage, they also need to hand in the originals of the documents.
  7. Collection of residence cards. Immigrant Invest agents file the application when all the documents and biometrics are ready. The consideration of it takes around 6 months. When the application is approved, the residence cards are issued within 2 weeks. The investor can collect them personally or through a lawyer by proxy.
  8. Renewal of residence permits. The residence permits need to be renewed every two years until applicants receive permanent residence or citizenship.

Discover the benefits of the Portugal Golden Visa and a unique way to EU citizenship

Benefits of Portugal residency by investment

Visa-free travel to the Schengen states. Portugal belongs to the Schengen Area; therefore, its residence permit allows one to enter other states without a visa. Investors can stay there for 90 days in a 180-day period.

No requirements to live in the country. Investors are not required to live in Portugal permanently to maintain their status. They only need to spend 7 days per year there.

Safe haven. At the same time, people who have a Portugal residence permit can enter the country anytime, even if the borders are closed to foreigners. This is useful in case something happens in the investor’s country of origin.

Return on investments. Most options offer an opportunity to return money several years after investing them. For example, one can sell property bought under the Portugal Golden Visa program 5 years later and return the money with additional profit.

Return on investments is not possible if investors choose options with capital transfer and investment into scientific or cultural sectors.

Opportunity to live, work and study in Portugal. Portugal is an attractive country located in the South of Europe. It is the sunniest country in the region as well as one of the most friendly countries in the world. It offers its residents and citizens a pleasant climate, good food, and the opportunity to enjoy the closeness to the sea.

Right to add close family members to the application. The investor is not the only person who can participate in the Golden Visa program. They can add close family members such as a spouse or a partner in a registered union, children under 26 years old, parents, and siblings.

An opportunity to have dual citizenship later. Citizenship can be obtained 5 years after getting a residence permit. Portugal allows its citizens to keep their first citizenship, so investors and their family members don’t need to renounce it if they choose to obtain a Portuguese passport.

Frequently Asked Questions

What is Portugal's Golden Visa?

The Golden Visa is a residence permit that is granted to a person who invests in the economy of Portugal. There are several investment options:

  • purchase of real estate;
  • purchase of funds units;
  • capital transfer;
  • creation of jobs;
  • investment in the science or cultural sector.

The amount of investment depends on the option.

What’s the Portuguese Golden Visa minimum investment?

The minimum investment under the Portugal Golden Visa program is €250,000+. It is the option of transferring money to the cultural sector.

Investment in the most popular option, the purchase of real estate, starts at €280,000.

What's the minimum I can invest in Portugal Golden Visa investment funds?

The minimum investment in the fund units is €500,000. 60% of this money must be invested in Portuguese companies or real estate.

Do all Portuguese investment funds qualify for the Golden Visa?

No, out of 200 investment funds only around 50 qualify for the Golden Visa. The suitable funds must meet several requirements:

  • be registered in the Portuguese Securities Commision; 
  • at least 60% of the investments must be made in Portuguese companies or real estate;
  • the maturity of shares must be at least 5 years. 

Some funds are created specially for the Golden Visa Program.

Who can get a Portugal Golden Visa?

There are several requirements that an investor needs to fulfil:

  • be over 18 years old;
  • do not be citizens of any EU or EEA country or Portugal;
  • have no criminal records;
  • have a source of investment located outside Portugal;
  • be able to prove the legality of income;
  • have no debts in Portugal;
  • have health insurance.

Anyone who satisfies the conditions above might be able to get the Portugal Golden Visa.

 

How to get a Portuguese Golden Visa?

To obtain a Golden Visa, one needs to make an investment. There are several options:

  • purchase of real estate — €280,000+;
  • purchase of funds units — €500,000+;
  • capital transfer — €1,500,000+;
  • creation of 5 to 10 jobs;
  • investment in the science or cultural sector — €250,000+.

The process of application consists of several steps.

  1. Preliminary Due Diligence.
  2. The signing of the documents.
  3. Choosing the investment option.
  4. Opening a bank account in a Portuguese bank.
  5. Fulfilment of investment option.
  6. Preparation of the required documents and filing an application.
  7. Biometrics.
  8. Collection of residence cards.
  9. Renewal of residence permits.

An investor doesn’t need to do all of the above on their own. Immigrant Invest assists with the process.

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Portugal Golden Visa: an overview of investment options